Question about Cleveland
Member since 2022 · 3 posts · 8 votes
Question about Cleveland
Most Popular Reply
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3yQuote from @Aaron Rumney:
James Wise knows the market. He has detailed guides for every neighborhood in the City.
Be careful. Things are cheap in Cleveland for a reason. Go watch his eviction videos. Do a search on these forums for his posts about the worst tenants. He knows the market inside/out, owns a property management company, but there are large sections of the city his company will sell in but they will not manage. Even though he stays out of those neighborhoods, he still has more horror stories than any single Landlord or Property Manager I know. It's entertaining, but sad. The numbers look great on paper but reality may be far different when you factor in unpaid rent, high turnover, big damages, etc.
You can make lots of money there, but do your research!
The DIY Landlord Book4.7244 Reviews
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Quote from @Aaron Rumney:
I know it's a hot market for cashflow, but I was wondering if I could get everyone's take on Youtuber/real estate HoltonwiseTV. They put out these section 8 rentals each day on their youtube that seem like no brainers for such a low cost. I understand that repairs would likely need to be made but does anyone have experience with them. They do property management and encourage out of state investors to use them. Can anyone give me some feedback or your own experience with Cleveland or HoltonwiseTV property management?
James posts on the forum here, you can reach out to him directly @james wise
Hi Aaron, I have found value investing in Cleveland, OH because it is home to Cleveland Clinic, lot of good neighborhoods, landlord friendly laws, stable appreciation and good cash flowing properties. There are also abundant opportunities for small multi family and SFH. I have been able to scale up to 12 doors in 2 years so definitely recommend this area. Feel free to reach out and we can discuss.
- Real Estate Agent · Cleveland, OH · Member since 2021 · 383 posts · 361 votes3y
Yeah, he's very active on here sometimes as said above. James knows the market better than anyone, and is an expert in the field. The deals are the same as a lot of rentals in Cleveland, the numbers can check out but you just need to actually do your due dilligence on the property itself, the neighborhood and the tenant to see if it really makes sense.
Not really a fan of them personally. Just don't care for how they handle themselves, and they're quite out of touch with market prices in Youngstown here where it seems they're trying to expand. But that's not Cleveland, obviously, so I imagine they're more knowledgable about their own area.
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes3y
Quote from @Aaron Rumney:
James Wise knows the market. He has detailed guides for every neighborhood in the City.
Be careful. Things are cheap in Cleveland for a reason. Go watch his eviction videos. Do a search on these forums for his posts about the worst tenants. He knows the market inside/out, owns a property management company, but there are large sections of the city his company will sell in but they will not manage. Even though he stays out of those neighborhoods, he still has more horror stories than any single Landlord or Property Manager I know. It's entertaining, but sad. The numbers look great on paper but reality may be far different when you factor in unpaid rent, high turnover, big damages, etc.
You can make lots of money there, but do your research!
The DIY Landlord Book4.7244 Reviews - Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes3y
Hey Aaron, if you're looking at Cleveland you should definitely look at Detroit as well. Similar markets with similar strategies.
I'm not familiar with HoltonwiseTV but I've done a lot of section 8 in Detroit. There are pros and cons, like anything.
Happy to chat about these sorts of markets, section 8, etc.
- Member since 2023 · 243 posts · 199 votes3y
Recommend checking out other podcasts as he offers his own opinion based on the facts he gathered regarding Cleveland.
The goal for YouTubers is to gather as many likes + subscribers you can so you can monetize our business and brand. Therefore, you're going to show the worst case scenarios and the insane. You won't show boring tenants that just pay rent and move out with little to no issues.As far as Cleveland, there are several multifamily homes on the market for around $100-$150k. Do not expect the home to appreciate as the prices in 2019 were the same as they were 20 years ago. For the last 3 years they have climbed a tad to these numbers.
Also, the homes will be built in the 1920s-1940s so budget for repairs. Crime varies tremendously depending on the street. Do not go only by internet pictures of the home.Note:
During the mayor's "State of the City" speech he indicated the population is still decreasing despite having more homes built in the city as several are migrating to the suburbs. The mayor also indicated they are going to look at putting in legislation that will stop the out-of-town slumlords who buy a $60k property and leave it in ruin. Despite the lower population, the city is going in an up-swing.As far as property managers, there are several but many do not return calls. B2BReality is a good choice and there are a few others.
James makes funny memes which is a good reason to consider him.
I self-manage, mostly in Erie, but if I was going to work with a PM similar to James, I would schedule to visit his operation and tag along with one of his workers to get an idea as to the properties, potential issues, etc.
A lot of people give their money to someone and hope for the best. Always check out the operation and do your DD. There are a lot of threads about Holtonwise on BP and I suggest you do your research so you know what to expect and to have an idea of how the business is run. The guy clearly knows his market and has been in business for a while but the more you know and see, the better (which is why I suggest checking to see if you can tag along for a day to see if you're a fit with his investment style and vice-versa).
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
Irvine, CA
- 3yJoshua JanusBusiness MemberRealtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
Quote from @Aaron Rumney:
I know it's a hot market for cashflow, but I was wondering if I could get everyone's take on Youtuber/real estate HoltonwiseTV. They put out these section 8 rentals each day on their youtube that seem like no brainers for such a low cost. I understand that repairs would likely need to be made but does anyone have experience with them. They do property management and encourage out of state investors to use them. Can anyone give me some feedback or your own experience with Cleveland or HoltonwiseTV property management?
Hey Aaron, here is a resource I would review when checking out the Cleveland market.
https://www.google.com/maps/d/...
I would be careful of the D/F areas and focus on the B/C areas that produce strong cash flow and can be partnered with Section 8 (CMHA in Cleveland).
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
EXTERMELY ignorant statement. For the last 10 years investors from around the world have been investing there and have doubled, tripled, quadrupled or more on top on the 20- 30% net caps cash buyers,. This is what happens when you sit on the internet, 100% useless. I just bought 3 more properties, 7 unit, all in 200k, net rent about 38k, 4/2 all in 75k, 1400 in rent 2 br, all in 65k, rent 850...... Buying everything we can in East Cleveland as well . Go online I bet everything you read will say stay away from East Cleveland, again that would in 100% incorrect. Those that are in the know, are fully aware of what's coming, that's why zero inventory. Biggest mistake of my life, not keeping 50 or so more of the about 500 I flipped, HUGE mistake, cost me millions.
All the best
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
SAN FRAN has low lifes on the street doing drugs and homeless everywhere, hmm try finding that anywhere in Cleveland,
Quote from @Todd Jones:
Recommend checking out other podcasts as he offers his own opinion based on the facts he gathered regarding Cleveland.
The goal for YouTubers is to gather as many likes + subscribers you can so you can monetize our business and brand. Therefore, you're going to show the worst case scenarios and the insane. You won't show boring tenants that just pay rent and move out with little to no issues.As far as Cleveland, there are several multifamily homes on the market for around $100-$150k. Do not expect the home to appreciate as the prices in 2019 were the same as they were 20 years ago. For the last 3 years they have climbed a tad to these numbers.
Also, the homes will be built in the 1920s-1940s so budget for repairs. Crime varies tremendously depending on the street. Do not go only by internet pictures of the home.Note:
During the mayor's "State of the City" speech he indicated the population is still decreasing despite having more homes built in the city as several are migrating to the suburbs. The mayor also indicated they are going to look at putting in legislation that will stop the out-of-town slumlords who buy a $60k property and leave it in ruin. Despite the lower population, the city is going in an up-swing.As far as property managers, there are several but many do not return calls. B2BReality is a good choice and there are a few others.
You really need to stay off the internet..
- 3yQuincy AmekuediPro MemberMember since 2023 · 17 posts · 10 votes
Quote from @Joshua Janus:
Quote from @Aaron Rumney:
I know it's a hot market for cashflow, but I was wondering if I could get everyone's take on Youtuber/real estate HoltonwiseTV. They put out these section 8 rentals each day on their youtube that seem like no brainers for such a low cost. I understand that repairs would likely need to be made but does anyone have experience with them. They do property management and encourage out of state investors to use them. Can anyone give me some feedback or your own experience with Cleveland or HoltonwiseTV property management?
Hey Aaron, here is a resource I would review when checking out the Cleveland market.
https://www.google.com/maps/d/...
I would be careful of the D/F areas and focus on the B/C areas that produce strong cash flow and can be partnered with Section 8 (CMHA in Cleveland).
Hey @Joshua Janus - That's the first map I've ever seen with graded neighborhoods/zip codes for an entire City. Did your company create that map or is that available somewhere on the web for anyone to access? What inputs went into creating it?
Quote from @Tim Bee:
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
Irvine, CA
How are those investments in that area going for you? Maybe you get 3% net cap,
Quote from @Bob S.:
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
SAN FRAN has low lifes on the street doing drugs and homeless everywhere, hmm try finding that anywhere in Cleveland,
That was my point. California cities are filthy! Cleveland while it does have crime it’s only within certain areas, but SF, LA it’s everywhere.
Quote from @Bob S.:
Quote from @Tim Bee:
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
Irvine, CA
How are those investments in that area going for you? Maybe you get 3% net cap,
Capital gains and flips are amazing in Irvine, CA even in 2023. SF LA SD and places like Cleveland are extremely dangerous filthy cesspools. But if you like street bums, burglaries, high violent crime, meth addicts and schizophrenic roaming the streets, deficating and shooting up in public then knock yourself out.
- WOW, not sure where you get your info from, but it is 100% incorrect, VERY VERY ignorant statement. I have been doing business there for 10 years, nothing I do not know about Cleveland. just another hater with zero knowledge.
Quote from @Tim Bee:
Quote from @Bob S.:
Quote from @Tim Bee:
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
Irvine, CA
How are those investments in that area going for you? Maybe you get 3% net cap,
Capital gains and flips are amazing in Irvine, CA even in 2023. SF LA SD and places like Cleveland are extremely dangerous filthy cesspools. But if you like street bums, burglaries, high violent crime, meth addicts and schizophrenic roaming the streets, deficating and shooting up in public then knock yourself out.
HMM sounds like you are referring to SAN FRAN, I have seen the videos of all the low lifes doing drugs , sleeping on the streets etc, find one video of that going on in Cleveland, you will not as there is none. Wow, very ignorant, Quote from @Tim Bee:
Quote from @Bob S.:
Quote from @Tim Bee:
Quote from @Vadim F.:
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
Can you name a place that doesn't have much crime? I am in the Bay Area and our crime is out of control the past few years.
Irvine, CA
How are those investments in that area going for you? Maybe you get 3% net cap,
Capital gains and flips are amazing in Irvine, CA even in 2023. SF LA SD and places like Cleveland are extremely dangerous filthy cesspools. But if you like street bums, burglaries, high violent crime, meth addicts and schizophrenic roaming the streets, deficating and shooting up in public then knock yourself out.
Yep GREAT city, Find one video of this anywhere in Cleveland. Again its all about knowledge, and you sir seem to not have any.
All the best
Viral video of kids' Market Street encounter highlights San Francisco's drug problem - Bing video- Member since 2023 · 243 posts · 199 votes3y
Wow, what was that comment for?
I checked my post and I didn’t see anything off-the-wall and it was positive.
I said something wrong? Was this comment for that Tim Bee guy?
- Member since 2023 · 243 posts · 199 votes3y1) No, it’s not. I checked several “Top 10 cities with the most violent crime. Cleveland is on none of them except for one site I found where it is #8.
Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
https://time.com/6223217/homic...
https://www.forbes.com/sites/l...
https://www.safewise.com/blog/...
https://www.alarms.org/top-100...
https://moneyinc.com/most-viol...
2) Irvine, CA is pretty nice. But when you say “it has no crime”, the data says there is:
https://www.city-data.com/city...Smaller suburbs typically will have lower crime than cities. Population density is also a factor.
Overall, ease up. You’re pretty impulsive with your comments and over generalize with no data, just emotional responses.
This isn’t the forum to do that as we’re here to help others with real data and actual experience.
Chill out a bit.
Quote from @Todd Jones:
1) No, it’s not. I checked several “Top 10 cities with the most violent crime. Cleveland is on none of them except for one site I found where it is #8.Quote from @Tim Bee:
Cleveland is in the top 5 of violent crime cities in the entire nation. I would steer clear of that city. Maybe look to investing into somewhere safe.
https://time.com/6223217/homic...
https://www.forbes.com/sites/l...
https://www.safewise.com/blog/...
https://www.alarms.org/top-100...
https://moneyinc.com/most-viol...
2) Irvine, CA is pretty nice. But when you say “it has no crime”, the data says there is:
https://www.city-data.com/city...Smaller suburbs typically will have lower crime than cities. Population density is also a factor.
Overall, ease up. You’re pretty impulsive with your comments and over generalize with no data, just emotional responses.
This isn’t the forum to do that as we’re here to help others with real data and actual experience.
Chill out a bit.
I never said Irvine has "no" crime. But it's has no much at all. It's a wonderful little safe bubble in CA to live in. Cleveland has 3rd highest rape and 7th highest murder. These are specific non generalized sats.
Quote from @Todd Jones:
Wow, what was that comment for?
I checked my post and I didn’t see anything off-the-wall and it was positive.
I said something wrong? Was this comment for that Tim Bee guy?
Oh so sorry, YES for that Tim Bee guy, I apologize!
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