Tips on selecting a section 8 property in Cleveland?

Question

or a rental property in general in Cleveland as an out of state investor. Thank you!

Jack Krusinski · Answer

Get your team together.

(1) Realtor

(2) Property Managers

(3) General Contractors you Trust

(4) Lenders

Check out the Due Diligence Guide we created below for our investors. This will help you make sure you do all of your property due diligence before closing on a property.

Investors Due Diligence Guide

Simon Ashbaugh · Answer

C-class areas on the west side are good safe bets (44102,44109,44111). Buy a duplex and screen tenants well.

Vadim F. · Answer

There is the west and east side.....west is more desirable, more stable, more cash paying tenants. East side is the opposite, lower grade and more section 8 paying tenants. Regarding neighborhoods, build a team in place that knows the streets inside and out. Just because a certain zip code can fall in a "bad area' does not mean the block the house is on is the same. Lower grade areas are very block by block. For sec 8 inspection info, you can go on the cmha site and find the check-list they use. Also, your PM should be knowledgeable when it comes to what will pass or fail a sec8 inspection.

Maryam Mostafa · Answer

Thanks for the response. i'm talking neiborhood wise? i hear all sort of things about Cleveland but i'm not sure what's a no-no or what i can work with? what section 8 is looking for if there's specific requirements for properties other than to be inhabitable of course.

Bob S. · Answer

what does that even mean, ? A sec 8 property? ANY property anywhere can be rented to a sec 8 tenant. You are not ready to buy anything .....yet. Connect with those doing deals, learn then apply what you learn

All the best

BTW I have props rented to various govt tenants all over Cleveland, and all of the Heights.

James Wise · Answer

You'll need to have the house in pretty good condition as Section 8 does inspections every year. Decent amount of red tape getting things moving but once you do you can't beat it. Section 8 is the cheat code to a lot of the low income neighborhoods we've got here in Cleveland. Without Section 8 collecting rent on a consistent basis can be difficult out here.

Bob S. · Answer

Tips, yes get a good price :) . Also make sure you have a team in place, or do not even think about it ,

Good luck

Bob S. · Answer

DO NOTHING without a team in place, I know dozens and dozens of investors that have purchased and continue to purchase in Cleveland that live out of state and country.

Good luck

Vadim F. · Answer

Can you elaborate? The question is very generic.....

Tips on selecting a section 8 property in Cleveland?

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