Skip to content
Starting Out

User Stats

13
Posts
12
Votes

Investing in the Midwest, Ask me Anything

Posted Oct 30 2023, 07:47

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 

Alfath Ahmed's profile image
  • Real Estate Agent
  • from Columbus, OH
  • Member since Apr 4, 2022

User Stats

500
Posts
495
Votes
Alfath Ahmed's profile image
  • Real Estate Agent
  • from Columbus, OH
  • Member since Apr 4, 2022
Alfath Ahmed
  • Real Estate Agent
  • Columbus, OH
495
Votes |
500
Posts
Alfath Ahmed
  • Real Estate Agent
  • Columbus, OH
Replied Oct 30 2023, 09:17
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 Have you looked into the Columbus market? Strong appreciation alongside cashflow. T

The average home prices went up between 24-35% this past year in C-class areas. These areas are projected to turn into C+/B- within the next 1.5-2 years.

User Stats

18
Posts
5
Votes
Replied Oct 31 2023, 20:17
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 I have a LTR in Akron (purchased in July). It's cashflowing great ($500) but I'm skeptical about investing into more units.

1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?

2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?

BiggerPockets logo
Find an Investor-Friendly Agent
|
BiggerPockets
Match with a top investor-friendly agent who can help you find, analyze, and close your next deal. Get started now!

User Stats

13
Posts
12
Votes
Replied Nov 2 2023, 08:06
Quote from @Rereloluwa Fatunmbi:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 I have a LTR in Akron (purchased in July). It's cashflowing great ($500) but I'm skeptical about investing into more units.

1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?

2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?



1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?
Akron to my knowledge in 2023 had a increase and was flat in 2022 if you are seeing other data please share. I am not worried about Akron's population trends or the trajectory of it becoming Detroit. This is a frightful thought though. I would say the difference and main point of comfort is the size of the area. As well as the stability of the industries there. Detroit was sprawling city with suburbia, as the lesser areas got abandoned it fell into disarray and was way to large to do anything with. Akron is concentrated around a university and hospitals. As well as first energy and Firestone. I think that these offer stability in a concentrated market. The other difference is Detroit was on the up and up and the middle class fled. The middle class of this area do not live in Akron nor canton they live just outside in a 3-600k house. The lower income are unfortunately stuck with lack of education and opportunity to flee. (side point this makes for a great cash flow opportunity but important to remember you are giving people a home and to be a great landlord) The people renting the homes in Akron are working for sub 20 a hour and are paycheck to paycheck but there is a community a university and the opportunity to make A living. 


2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?
(check this out after reading specifically business services and health https://www.bls.gov/eag/eag.oh_akron_msa.htm)

I would challenge this thought and say the job opportunities are not limited but the fields are limited. The surrounding area is healthcare and universities. Good year and first energy are both fortune 500 companies. that said without a higher degrees upward mobility is hard in healthcare or education. they do employee people with a GED and need to get lunch or take out trash play golf what ever it will be. so no i do not think the jobs are lacking but mobility is hard and they are not sprouting up new tech companies its a place where you move to take a promotion or you worked where your father worked. Unemployment is high in the area that leads to education but while the hospital (summa Health Systems)  is building i think stability is provided. One thing i do think about more long term is age, akron is older. If young people dont come what will happen that is more of a 30 year trend but something i would pay attention to over the next 5 years and you could make a informed decision then.


I hope this helped answer the questions they are good thoughts and something you should vet and make your own decision on. No-one knows the answer but time will tell. if you would like to continue the conversation feel free to DM me. Not totally sure how this website works but ill find it :) 





User Stats

13
Posts
12
Votes
Replied Nov 2 2023, 08:08
Quote from @Alfath Ahmed:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 Have you looked into the Columbus market? Strong appreciation alongside cashflow. T

The average home prices went up between 24-35% this past year in C-class areas. These areas are projected to turn into C+/B- within the next 1.5-2 years.


 Yes but simply put i have a recipe for forced appreciation and cash flow. this market would be a challenge for this model and i still have room to grow. This leads me to not take a interest but to pay attention. Alot of people are making money there though! 

Travis Timmons's profile image
  • Rental Property Investor
  • from Houston, TX
  • Member since Aug 9, 2021

User Stats

565
Posts
1,068
Votes
Travis Timmons's profile image
  • Rental Property Investor
  • from Houston, TX
  • Member since Aug 9, 2021
Travis Timmons
  • Rental Property Investor
  • Houston, TX
1,068
Votes |
565
Posts
Travis Timmons
  • Rental Property Investor
  • Houston, TX
Replied Nov 2 2023, 08:30
Quote from @Alfath Ahmed:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 Have you looked into the Columbus market? Strong appreciation alongside cashflow. T

The average home prices went up between 24-35% this past year in C-class areas. These areas are projected to turn into C+/B- within the next 1.5-2 years.

 @Alfath Ahmed you guys don't miss a thing, do you?!? Stop selling, man. He's offering advice to people who have questions. I swear you guys have an AI bot that just auto populates any post that states the word Ohio or Midwest. 

@Jeremiah Sullivan thanks for offering your time. What do out of town investors not understand about Akron and/or Cleveland? What are the norms that locals understand but catch out of towners off guard as it relates to RE investing?

User Stats

13
Posts
12
Votes
Replied Nov 2 2023, 08:50
Quote from @Travis Timmons:
Quote from @Alfath Ahmed:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 Have you looked into the Columbus market? Strong appreciation alongside cashflow. T

The average home prices went up between 24-35% this past year in C-class areas. These areas are projected to turn into C+/B- within the next 1.5-2 years.

 @Alfath Ahmed you guys don't miss a thing, do you?!? Stop selling, man. He's offering advice to people who have questions. I swear you guys have an AI bot that just auto populates any post that states the word Ohio or Midwest. 

@Jeremiah Sullivan thanks for offering your time. What do out of town investors not understand about Akron and/or Cleveland? What are the norms that locals understand but catch out of towners off guard as it relates to RE investing?




@Jeremiah Sullivan thanks for offering your time. What do out of town investors not understand about Akron and/or Cleveland? What are the norms that locals understand but catch out of towners off guard as it relates to RE investing?

I would say the above post is a hint at it. Its not a bad place to live or declining. Its stuck in a different time and a way of life. parts of it are in 2023 and others are in 1980. Including the home prices. Cleveland think is also and entirely different world even though they are close. The investing game is very very different and has different challenges. The other thing i think people miss is Section 8 is not bad, a lot of people turn to it out of need and assistances. You will have the same amount of problems with vouchers as without. these are stigmas i think that change by area and you have to be there to know the demographic. the biggest mistake i think people make is not knowing the water situation and how expensive water bills are in akron. 

Jack Smith's profile image
Jack Smith
Pro Member
  • Rental Property Investor
  • from Massillon, OH
  • Member since Aug 30, 2017

User Stats

182
Posts
158
Votes
Jack Smith's profile image
Jack Smith
Pro Member
  • Rental Property Investor
  • from Massillon, OH
  • Member since Aug 30, 2017
Jack Smith
Pro Member
  • Rental Property Investor
  • Massillon, OH
158
Votes |
182
Posts
Jack Smith
Pro Member
  • Rental Property Investor
  • Massillon, OH
Replied Nov 2 2023, 11:16
@Jeremiah Sullivan thanks for offering your time. What do out of town investors not understand about Akron and/or Cleveland? What are the norms that locals understand but catch out of towners off guard as it relates to RE investing?

I would say the above post is a hint at it. Its not a bad place to live or declining. Its stuck in a different time and a way of life. parts of it are in 2023 and others are in 1980. Including the home prices. Cleveland think is also and entirely different world even though they are close. The investing game is very very different and has different challenges. The other thing i think people miss is Section 8 is not bad, a lot of people turn to it out of need and assistances. You will have the same amount of problems with vouchers as without. these are stigmas i think that change by area and you have to be there to know the demographic. the biggest mistake i think people make is not knowing the water situation and how expensive water bills are in akron. 
Great posts, Jeremiah!  These misperceptions are fascinating.    
I will also add that the political powers in Ohio are significantly changing.  We used to be a very LL friendly state, but as the climate across the country is changing, we are too.  Akron and Cleveland are extremely ‘blue’ cities, with Canton quickly catching up, with passing more and more tenant biased laws.  Cleveland and surrounding suburbs have POS and lbp requirements that are having significant impacts on reasonable deals, which ultimately hurts the seller much more than the knowledgeable investors. But evictions are still pretty swift events, unlike what I hear about in some of other states. 
Hopefully HB93 gets voted on soon and we finally get these ridiculous water bill practices to end.  
Travis Biziorek's profile image
  • Investor
  • from Arroyo Grande, CA
  • Member since Oct 19, 2014

User Stats

1,141
Posts
1,303
Votes
Travis Biziorek's profile image
  • Investor
  • from Arroyo Grande, CA
  • Member since Oct 19, 2014
Travis Biziorek
  • Investor
  • Arroyo Grande, CA
1,303
Votes |
1,141
Posts
Travis Biziorek
  • Investor
  • Arroyo Grande, CA
Replied Nov 2 2023, 12:36
Quote from @Rereloluwa Fatunmbi:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 I have a LTR in Akron (purchased in July). It's cashflowing great ($500) but I'm skeptical about investing into more units.

1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?

2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?


 If you know what "the next Detroit" is please share.

There is no better market right now and if there's somewhere that will replicate what Detroit has done in the last 10 years I want to know so I can throw everything I have at it.

Thanks :-)

User Stats

13
Posts
12
Votes
Replied Nov 3 2023, 07:07
Quote from @Travis Biziorek:
Quote from @Rereloluwa Fatunmbi:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 I have a LTR in Akron (purchased in July). It's cashflowing great ($500) but I'm skeptical about investing into more units.

1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?

2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?


 If you know what "the next Detroit" is please share.

There is no better market right now and if there's somewhere that will replicate what Detroit has done in the last 10 years I want to know so I can throw everything I have at it.

Thanks :-)

 HAHA grabbing the next revitalization is everyone's dreams and skipping the 30 years of suck. To make a public prediction I would say Jacksonville Florida or the gulf of Florida. that said your guess is as good as mine, who knows! probably some small Midwest suburbs too that I am not aware of. more central like outside the Chicago area or Kansas City area. Those are 100 percent guesses. 

User Stats

18
Posts
5
Votes
Replied Nov 3 2023, 19:32

Thanks for your detailed and insightful response, Jeremiah. I've sent you a private DM as I'll love to follow-up with you as I pursue some deals in Canton/Akron

Sam McCormack's profile image
  • Real Estate Agent
  • from Cincinnati, OH
  • Member since Jun 15, 2021

User Stats

797
Posts
472
Votes
Sam McCormack's profile image
  • Real Estate Agent
  • from Cincinnati, OH
  • Member since Jun 15, 2021
Sam McCormack
  • Real Estate Agent
  • Cincinnati, OH
472
Votes |
797
Posts
Sam McCormack
  • Real Estate Agent
  • Cincinnati, OH
Replied Nov 6 2023, 05:09
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 Hey Jeremiah, do you have experience in other markets in Ohio? Like Columbus or Greater Cincinnati? May be worth looking into, my investors would say so at least

Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 6 2023, 05:24
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 

 I have extensive experience doing about 500 deals yes 500 in the Cleveland. markets. I have done it all there. 1ks of move in and outs, passing 100s and 100s of POS inspections, PM in place, team of 30 GC's, unlimited properties aval, and more, Happy to connect with you, and share ideas. 

BiggerPockets logo
BiggerPockets
|
Sponsored
Find an investor-friendly agent in your market TODAY Get matched with our network of trusted, local, investor friendly agents in under 2 minutes
Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 6 2023, 05:33
Quote from @Rereloluwa Fatunmbi:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 I have a LTR in Akron (purchased in July). It's cashflowing great ($500) but I'm skeptical about investing into more units.

1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?

2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?



I have been hearing this for 10 years I don't " by " it. Everything in all of Cleveland and burbs has doubled, tripled quadrupled or more OH City/ Tremont about 8 times increase. Massive infrastructure 2 lanes to 4 4 - 6. New restaurants, hotels, massive new residential buildings. When I was there in July, I could not believe the conversion on Euclid Ave in the heart of the city The roof top, pool spa will compare to a hotel in S beach. 24-hour concierge, and high-end appointments. Kimpton, The 9 and more, Try getting a room there during the summer. The Flats, also doing very well, Aloft getting 500 per night during the summer. Try getting a room at Marriott Key Tower during the summer. Amazon building 2 mill sq ft in the heart of it all. Sherwin William building a 30-story building downtown, and so much more. 10 years ago, you could buy in the nicer areas all in 30 35k with 1100- 1300 in rent. Well now those same properties are 120k++ MF were 5- 10k per unit, now 45- 65k, and there is no inventory. East Cleveland has also done very well and is IMO going to be the next boom! Try buying a MF along Euclid Ave from CC east to the RTA, nothing out there. I just locked up 7 more all in under 80 each, all have rents from 1100- 1400, all have values from 100k- 125k. There is a reason investor from around the world have been and still are buying there. We are trying to buy everything we can in parts of East Cleveland, I bet everything you read on the internet is telling you to run!! Well, that's what they said, 5, 6 7 8 years ago about ALL of Cleveland, and look how that turned out.

User Stats

18
Posts
5
Votes
Replied Nov 6 2023, 05:55

Thanks everyone for the very helpful responses. Learned a lot already. I reached out to Jeremiah (@Jeremiah Sullivan) offline and he provided further clarifications and answers. I'm pasting them below so it can be beneficial to the rest of us:

1. Did I make a good deal and the right choice?

If you're making 550 sounds like you made a great choice.

2. Should I have opted for a property that needed work to create forced equity?

I think buying a turn key is a great way to start. Learn the management then learn the work. There's several ways to create forced equity or appreciation. I usually only buy turn keys and if i get the right properties with little to no work have been able to refinance them for 90 k plus. Purchase price 60k.

3. How do you estimate renovation costs and time for fixer-uppers? Do you bring a contractor during inspections?

Yes i have someone walk the property a gc and an engineer and they tell me if it's worth it.

4. Is it wise to buy properties needing work, considering they might not qualify for conventional loans and require high-interest hard money lending? Is it too risky?

I usually don't. If you're good at it there's money to be made i think Akron is really tough for brrr the margins are to slim. As well yes high interest rates make it a lot harder hard money is 10-12 percent.

5. How can I find a contractor ready to start right after closing?

I can refer you to a few but to get them to make you a priority you need to create a relationship. Be polite pay in full on time.

6. Do you recommend cash-out refinancing after renovations?
Always cash out refi asap and buy more houses as long as you have the houses cash flowing.


7. Can you share how you expanded your portfolio?

I buy rent cash out refi buy more. I also build in Florida ground up. Take that money to Ohio buy or pay down debt then refinance and buy more.


8. Have you explored short-term/medium-term rentals in your area for enhanced cash flow?

No again if you're good at
It a lot of money to be made but i have my recipe and i like it.

9. Single-family homes or multi-family – which do you prefer for investing?

Single family in Akron. Multi is few and far between. Atleast the good ones.

10. Thoughts on investing in Canton or the east side of Cleveland?
Canton is good similar market. Little lower rents. I would like to get to 500 homes before i leave Akron canton. There's a few small areas around Cleveland i want to go to


11. I'm struggling to secure mortgages for properties under $60k. Do you know of local banks or credit unions that might help?

Oucu tell them jeremiah at impact investment sent you.


12. Do you think it's a good idea for me to self manage my property since I'm out of state?

If you have all the resources and know what you're doing absolutely. I don’t think it hurts i use a pm. I would like to have a pm side to my business though.

13. By how much do you increase rents annually for your properties in Akron?

If the tenant is really good pays on time and doesn't ask for much i don’t always increase unless my expenses increase. A normal increase would be 10-30 dollars.


That's a correct thought about winters. No one moves after October. If i close on a house October or later i plan on it being vacant until at least March .

You can ask for the rent roll and see how long the tenant has been there and if they paid/are current. You can also do some things to have the tenant "reapply". But really if they pay and you have someone go inside and they take care of it that should not be a concern

We do section 8. I don’t find it harder to evict if anything it is the same process they just have to actually break the lease. The rents depend on the condition of the house i don't think they are below market. It's pretty fair value. That said you probably are not getting a section 8 tenant in the nicest house.


Do you check hud to see what the market rents are for section 8

Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 6 2023, 05:58
Quote from @Travis Biziorek:
Quote from @Rereloluwa Fatunmbi:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 I have a LTR in Akron (purchased in July). It's cashflowing great ($500) but I'm skeptical about investing into more units.

1. Aren't you worried about the population trends in Akron and if it won't become the next Detroit?

2. Aren't you concerned about the limited job opportunities? What do you think about Akron's economic outlook in the next 5 years?


 If you know what "the next Detroit" is please share.

There is no better market right now and if there's somewhere that will replicate what Detroit has done in the last 10 years I want to know so I can throw everything I have at it.

Thanks :-)


 Over the last 10 years pricing has doubled, tripled, quadrupled or more in most if not all of Cleveland and the burbs. I was told we were crazy to buy in East Cleveland, 6, 7 years ago, well who was crazy? Try buying a MF anywhere along or off Euclid ave from Little Italy east to the RTA, nothing out there, heck try getting a SF. good luck, 

Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 6 2023, 06:07
Quote from @Alfath Ahmed:
Quote from @Jeremiah Sullivan:

Hello All, 

My partner suggested I do this and that I would enjoy the website. I have been investing in Ohio for a little bit now. I have properties with my own money, partners money as well as a fund that takes outside money. I think with scale in mind this is one of the best markets in the country for cash on cash/cash flow return. I think with a reasonable plan and the right people in place you can  compound considerably here and still buy with rates being so competitive. If the greater Cleveland area is something you're considering or just general questions, feel free to drop them here. Anything from financing, property management to cash returns and how to use them effectively. 


 Have you looked into the Columbus market? Strong appreciation alongside cashflow. T

The average home prices went up between 24-35% this past year in C-class areas. These areas are projected to turn into C+/B- within the next 1.5-2 years.


 I know Columbus well, my buddy has 250 props there. Not east to match the cash flow in the Cleveland markets. Columbus still a good market, but IMO Cleveland will be a better return over the long term 

Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 6 2023, 06:14
Quote from @Rereloluwa Fatunmbi:

Thanks everyone for the very helpful responses. Learned a lot already. I reached out to Jeremiah (@Jeremiah Sullivan) offline and he provided further clarifications and answers. I'm pasting them below so it can be beneficial to the rest of us:

1. Did I make a good deal and the right choice?

If you're making 550 sounds like you made a great choice.

2. Should I have opted for a property that needed work to create forced equity?

I think buying a turn key is a great way to start. Learn the management then learn the work. There's several ways to create forced equity or appreciation. I usually only buy turn keys and if i get the right properties with little to no work have been able to refinance them for 90 k plus. Purchase price 60k.

3. How do you estimate renovation costs and time for fixer-uppers? Do you bring a contractor during inspections?

Yes i have someone walk the property a gc and an engineer and they tell me if it's worth it.

4. Is it wise to buy properties needing work, considering they might not qualify for conventional loans and require high-interest hard money lending? Is it too risky?

I usually don't. If you're good at it there's money to be made i think Akron is really tough for brrr the margins are to slim. As well yes high interest rates make it a lot harder hard money is 10-12 percent.

5. How can I find a contractor ready to start right after closing?

I can refer you to a few but to get them to make you a priority you need to create a relationship. Be polite pay in full on time.

6. Do you recommend cash-out refinancing after renovations?
Always cash out refi asap and buy more houses as long as you have the houses cash flowing.


7. Can you share how you expanded your portfolio?

I buy rent cash out refi buy more. I also build in Florida ground up. Take that money to Ohio buy or pay down debt then refinance and buy more.


8. Have you explored short-term/medium-term rentals in your area for enhanced cash flow?

No again if you're good at
It a lot of money to be made but i have my recipe and i like it.

9. Single-family homes or multi-family – which do you prefer for investing?

Single family in Akron. Multi is few and far between. Atleast the good ones.

10. Thoughts on investing in Canton or the east side of Cleveland?
Canton is good similar market. Little lower rents. I would like to get to 500 homes before i leave Akron canton. There's a few small areas around Cleveland i want to go to


11. I'm struggling to secure mortgages for properties under $60k. Do you know of local banks or credit unions that might help?

Oucu tell them jeremiah at impact investment sent you.


12. Do you think it's a good idea for me to self manage my property since I'm out of state?

If you have all the resources and know what you're doing absolutely. I don’t think it hurts i use a pm. I would like to have a pm side to my business though.

13. By how much do you increase rents annually for your properties in Akron?

If the tenant is really good pays on time and doesn't ask for much i don’t always increase unless my expenses increase. A normal increase would be 10-30 dollars.


That's a correct thought about winters. No one moves after October. If i close on a house October or later i plan on it being vacant until at least March .

You can ask for the rent roll and see how long the tenant has been there and if they paid/are current. You can also do some things to have the tenant "reapply". But really if they pay and you have someone go inside and they take care of it that should not be a concern

We do section 8. I don’t find it harder to evict if anything it is the same process they just have to actually break the lease. The rents depend on the condition of the house i don't think they are below market. It's pretty fair value. That said you probably are not getting a section 8 tenant in the nicest house.


Do you check hud to see what the market rents are for section 8


 You are WAY overthinking Also, can't rent during October wherever you are getting your info from please stop, 100% incorrect. Tenants are the easy part. I will have 10 move ins this month. 

Harder to evict sec 8, again 100% incorrect. Rents are NOT determined by the condition of the house, and YES you get SEC8 for NICE props in the nicer areas. Also, CMHA pays MORE than cash tenants. Again, your DD is 100% incorrect. As I have posted many times, " stay off the internet its a waste of time." 

I am not speculating; I am an expert on " All that is Cleveland" and an expert on ALL the govt programs. 

All you need to do is connect with those doing deals, and allow them to handle. Its always best when the owners stay out of it, 

All the best  

James Wise's profile image
  • #5 All Forums Contributor
  • Real Estate Broker
  • from Cleveland Dayton Cincinnati Toledo Columbus & Akron, Ohio
  • Member since Jun 13, 2013

User Stats

26,085
Posts
17,482
Votes
James Wise's profile image
  • #5 All Forums Contributor
  • Real Estate Broker
  • from Cleveland Dayton Cincinnati Toledo Columbus & Akron, Ohio
  • Member since Jun 13, 2013
James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
17,482
Votes |
26,085
Posts
James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied Nov 8 2023, 08:34

This thread gettin spicy.

User Stats

13
Posts
12
Votes
Replied Nov 8 2023, 08:55
Quote from @Bob Stevens:
Quote from @Rereloluwa Fatunmbi:

Thanks everyone for the very helpful responses. Learned a lot already. I reached out to Jeremiah (@Jeremiah Sullivan) offline and he provided further clarifications and answers. I'm pasting them below so it can be beneficial to the rest of us:

1. Did I make a good deal and the right choice?

If you're making 550 sounds like you made a great choice.

2. Should I have opted for a property that needed work to create forced equity?

I think buying a turn key is a great way to start. Learn the management then learn the work. There's several ways to create forced equity or appreciation. I usually only buy turn keys and if i get the right properties with little to no work have been able to refinance them for 90 k plus. Purchase price 60k.

3. How do you estimate renovation costs and time for fixer-uppers? Do you bring a contractor during inspections?

Yes i have someone walk the property a gc and an engineer and they tell me if it's worth it.

4. Is it wise to buy properties needing work, considering they might not qualify for conventional loans and require high-interest hard money lending? Is it too risky?

I usually don't. If you're good at it there's money to be made i think Akron is really tough for brrr the margins are to slim. As well yes high interest rates make it a lot harder hard money is 10-12 percent.

5. How can I find a contractor ready to start right after closing?

I can refer you to a few but to get them to make you a priority you need to create a relationship. Be polite pay in full on time.

6. Do you recommend cash-out refinancing after renovations?
Always cash out refi asap and buy more houses as long as you have the houses cash flowing.


7. Can you share how you expanded your portfolio?

I buy rent cash out refi buy more. I also build in Florida ground up. Take that money to Ohio buy or pay down debt then refinance and buy more.


8. Have you explored short-term/medium-term rentals in your area for enhanced cash flow?

No again if you're good at
It a lot of money to be made but i have my recipe and i like it.

9. Single-family homes or multi-family – which do you prefer for investing?

Single family in Akron. Multi is few and far between. Atleast the good ones.

10. Thoughts on investing in Canton or the east side of Cleveland?
Canton is good similar market. Little lower rents. I would like to get to 500 homes before i leave Akron canton. There's a few small areas around Cleveland i want to go to


11. I'm struggling to secure mortgages for properties under $60k. Do you know of local banks or credit unions that might help?

Oucu tell them jeremiah at impact investment sent you.


12. Do you think it's a good idea for me to self manage my property since I'm out of state?

If you have all the resources and know what you're doing absolutely. I don’t think it hurts i use a pm. I would like to have a pm side to my business though.

13. By how much do you increase rents annually for your properties in Akron?

If the tenant is really good pays on time and doesn't ask for much i don’t always increase unless my expenses increase. A normal increase would be 10-30 dollars.


That's a correct thought about winters. No one moves after October. If i close on a house October or later i plan on it being vacant until at least March .

You can ask for the rent roll and see how long the tenant has been there and if they paid/are current. You can also do some things to have the tenant "reapply". But really if they pay and you have someone go inside and they take care of it that should not be a concern

We do section 8. I don’t find it harder to evict if anything it is the same process they just have to actually break the lease. The rents depend on the condition of the house i don't think they are below market. It's pretty fair value. That said you probably are not getting a section 8 tenant in the nicest house.


Do you check hud to see what the market rents are for section 8


 You are WAY overthinking Also, can't rent during October wherever you are getting your info from please stop, 100% incorrect. Tenants are the easy part. I will have 10 move ins this month. 

Harder to evict sec 8, again 100% incorrect. Rents are NOT determined by the condition of the house, and YES you get SEC8 for NICE props in the nicer areas. Also, CMHA pays MORE than cash tenants. Again, your DD is 100% incorrect. As I have posted many times, " stay off the internet its a waste of time." 

I am not speculating; I am an expert on " All that is Cleveland" and an expert on ALL the govt programs. 

All you need to do is connect with those doing deals, and allow them to handle. Its always best when the owners stay out of it, 

All the best  


 Hi Bob, Just my experience that things slow down in October and through the winter. I did say its not harder to evict for section 8. so i am not really sure where you got that from. 

The above is a text convo someone asked me question on trying to get informed. I think we actually agree on most of it.
 Thanks for your input and good job on the 10 move ins. 

Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 8 2023, 09:27
Quote from @Jeremiah Sullivan:
Quote from @Bob Stevens:
Quote from @Rereloluwa Fatunmbi:

Thanks everyone for the very helpful responses. Learned a lot already. I reached out to Jeremiah (@Jeremiah Sullivan) offline and he provided further clarifications and answers. I'm pasting them below so it can be beneficial to the rest of us:

1. Did I make a good deal and the right choice?

If you're making 550 sounds like you made a great choice.

2. Should I have opted for a property that needed work to create forced equity?

I think buying a turn key is a great way to start. Learn the management then learn the work. There's several ways to create forced equity or appreciation. I usually only buy turn keys and if i get the right properties with little to no work have been able to refinance them for 90 k plus. Purchase price 60k.

3. How do you estimate renovation costs and time for fixer-uppers? Do you bring a contractor during inspections?

Yes i have someone walk the property a gc and an engineer and they tell me if it's worth it.

4. Is it wise to buy properties needing work, considering they might not qualify for conventional loans and require high-interest hard money lending? Is it too risky?

I usually don't. If you're good at it there's money to be made i think Akron is really tough for brrr the margins are to slim. As well yes high interest rates make it a lot harder hard money is 10-12 percent.

5. How can I find a contractor ready to start right after closing?

I can refer you to a few but to get them to make you a priority you need to create a relationship. Be polite pay in full on time.

6. Do you recommend cash-out refinancing after renovations?
Always cash out refi asap and buy more houses as long as you have the houses cash flowing.


7. Can you share how you expanded your portfolio?

I buy rent cash out refi buy more. I also build in Florida ground up. Take that money to Ohio buy or pay down debt then refinance and buy more.


8. Have you explored short-term/medium-term rentals in your area for enhanced cash flow?

No again if you're good at
It a lot of money to be made but i have my recipe and i like it.

9. Single-family homes or multi-family – which do you prefer for investing?

Single family in Akron. Multi is few and far between. Atleast the good ones.

10. Thoughts on investing in Canton or the east side of Cleveland?
Canton is good similar market. Little lower rents. I would like to get to 500 homes before i leave Akron canton. There's a few small areas around Cleveland i want to go to


11. I'm struggling to secure mortgages for properties under $60k. Do you know of local banks or credit unions that might help?

Oucu tell them jeremiah at impact investment sent you.


12. Do you think it's a good idea for me to self manage my property since I'm out of state?

If you have all the resources and know what you're doing absolutely. I don’t think it hurts i use a pm. I would like to have a pm side to my business though.

13. By how much do you increase rents annually for your properties in Akron?

If the tenant is really good pays on time and doesn't ask for much i don’t always increase unless my expenses increase. A normal increase would be 10-30 dollars.


That's a correct thought about winters. No one moves after October. If i close on a house October or later i plan on it being vacant until at least March .

You can ask for the rent roll and see how long the tenant has been there and if they paid/are current. You can also do some things to have the tenant "reapply". But really if they pay and you have someone go inside and they take care of it that should not be a concern

We do section 8. I don’t find it harder to evict if anything it is the same process they just have to actually break the lease. The rents depend on the condition of the house i don't think they are below market. It's pretty fair value. That said you probably are not getting a section 8 tenant in the nicest house.


Do you check hud to see what the market rents are for section 8


 You are WAY overthinking Also, can't rent during October wherever you are getting your info from please stop, 100% incorrect. Tenants are the easy part. I will have 10 move ins this month. 

Harder to evict sec 8, again 100% incorrect. Rents are NOT determined by the condition of the house, and YES you get SEC8 for NICE props in the nicer areas. Also, CMHA pays MORE than cash tenants. Again, your DD is 100% incorrect. As I have posted many times, " stay off the internet its a waste of time." 

I am not speculating; I am an expert on " All that is Cleveland" and an expert on ALL the govt programs. 

All you need to do is connect with those doing deals, and allow them to handle. Its always best when the owners stay out of it, 

All the best  


 Hi Bob, Just my experience that things slow down in October and through the winter. I did say its not harder to evict for section 8. so i am not really sure where you got that from. 

The above is a text convo someone asked me question on trying to get informed. I think we actually agree on most of it.
 Thanks for your input and good job on the 10 move ins. 

Sorry about the sec 8 evicition mis-read No 95% of what is being stated is incorrect. 

User Stats

13
Posts
12
Votes
Replied Nov 8 2023, 09:48
Quote from @Bob Stevens:
Quote from @Jeremiah Sullivan:
Quote from @Bob Stevens:
Quote from @Rereloluwa Fatunmbi:

Thanks everyone for the very helpful responses. Learned a lot already. I reached out to Jeremiah (@Jeremiah Sullivan) offline and he provided further clarifications and answers. I'm pasting them below so it can be beneficial to the rest of us:

1. Did I make a good deal and the right choice?

If you're making 550 sounds like you made a great choice.

2. Should I have opted for a property that needed work to create forced equity?

I think buying a turn key is a great way to start. Learn the management then learn the work. There's several ways to create forced equity or appreciation. I usually only buy turn keys and if i get the right properties with little to no work have been able to refinance them for 90 k plus. Purchase price 60k.

3. How do you estimate renovation costs and time for fixer-uppers? Do you bring a contractor during inspections?

Yes i have someone walk the property a gc and an engineer and they tell me if it's worth it.

4. Is it wise to buy properties needing work, considering they might not qualify for conventional loans and require high-interest hard money lending? Is it too risky?

I usually don't. If you're good at it there's money to be made i think Akron is really tough for brrr the margins are to slim. As well yes high interest rates make it a lot harder hard money is 10-12 percent.

5. How can I find a contractor ready to start right after closing?

I can refer you to a few but to get them to make you a priority you need to create a relationship. Be polite pay in full on time.

6. Do you recommend cash-out refinancing after renovations?
Always cash out refi asap and buy more houses as long as you have the houses cash flowing.


7. Can you share how you expanded your portfolio?

I buy rent cash out refi buy more. I also build in Florida ground up. Take that money to Ohio buy or pay down debt then refinance and buy more.


8. Have you explored short-term/medium-term rentals in your area for enhanced cash flow?

No again if you're good at
It a lot of money to be made but i have my recipe and i like it.

9. Single-family homes or multi-family – which do you prefer for investing?

Single family in Akron. Multi is few and far between. Atleast the good ones.

10. Thoughts on investing in Canton or the east side of Cleveland?
Canton is good similar market. Little lower rents. I would like to get to 500 homes before i leave Akron canton. There's a few small areas around Cleveland i want to go to


11. I'm struggling to secure mortgages for properties under $60k. Do you know of local banks or credit unions that might help?

Oucu tell them jeremiah at impact investment sent you.


12. Do you think it's a good idea for me to self manage my property since I'm out of state?

If you have all the resources and know what you're doing absolutely. I don’t think it hurts i use a pm. I would like to have a pm side to my business though.

13. By how much do you increase rents annually for your properties in Akron?

If the tenant is really good pays on time and doesn't ask for much i don’t always increase unless my expenses increase. A normal increase would be 10-30 dollars.


That's a correct thought about winters. No one moves after October. If i close on a house October or later i plan on it being vacant until at least March .

You can ask for the rent roll and see how long the tenant has been there and if they paid/are current. You can also do some things to have the tenant "reapply". But really if they pay and you have someone go inside and they take care of it that should not be a concern

We do section 8. I don’t find it harder to evict if anything it is the same process they just have to actually break the lease. The rents depend on the condition of the house i don't think they are below market. It's pretty fair value. That said you probably are not getting a section 8 tenant in the nicest house.


Do you check hud to see what the market rents are for section 8


 You are WAY overthinking Also, can't rent during October wherever you are getting your info from please stop, 100% incorrect. Tenants are the easy part. I will have 10 move ins this month. 

Harder to evict sec 8, again 100% incorrect. Rents are NOT determined by the condition of the house, and YES you get SEC8 for NICE props in the nicer areas. Also, CMHA pays MORE than cash tenants. Again, your DD is 100% incorrect. As I have posted many times, " stay off the internet its a waste of time." 

I am not speculating; I am an expert on " All that is Cleveland" and an expert on ALL the govt programs. 

All you need to do is connect with those doing deals, and allow them to handle. Its always best when the owners stay out of it, 

All the best  


 Hi Bob, Just my experience that things slow down in October and through the winter. I did say its not harder to evict for section 8. so i am not really sure where you got that from. 

The above is a text convo someone asked me question on trying to get informed. I think we actually agree on most of it.
 Thanks for your input and good job on the 10 move ins. 

Sorry about the sec 8 evicition mis-read No 95% of what is being stated is incorrect. 

 Thanks bob! 

Bob Stevens's profile image
Bob Stevens
Pro Member

User Stats

4,777
Posts
2,758
Votes
Bob Stevens's profile image
Bob Stevens
Pro Member
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
2,758
Votes |
4,777
Posts
Bob Stevens
Pro Member
#4 Tax Liens & Mortgage Notes Contributor
  • Real Estate Consultant
  • Cleveland
Replied Nov 8 2023, 09:53
Quote from @Jeremiah Sullivan:
Quote from @Bob Stevens:
Quote from @Jeremiah Sullivan:
Quote from @Bob Stevens:
Quote from @Rereloluwa Fatunmbi:

Thanks everyone for the very helpful responses. Learned a lot already. I reached out to Jeremiah (@Jeremiah Sullivan) offline and he provided further clarifications and answers. I'm pasting them below so it can be beneficial to the rest of us:

1. Did I make a good deal and the right choice?

If you're making 550 sounds like you made a great choice.

2. Should I have opted for a property that needed work to create forced equity?

I think buying a turn key is a great way to start. Learn the management then learn the work. There's several ways to create forced equity or appreciation. I usually only buy turn keys and if i get the right properties with little to no work have been able to refinance them for 90 k plus. Purchase price 60k.

3. How do you estimate renovation costs and time for fixer-uppers? Do you bring a contractor during inspections?

Yes i have someone walk the property a gc and an engineer and they tell me if it's worth it.

4. Is it wise to buy properties needing work, considering they might not qualify for conventional loans and require high-interest hard money lending? Is it too risky?

I usually don't. If you're good at it there's money to be made i think Akron is really tough for brrr the margins are to slim. As well yes high interest rates make it a lot harder hard money is 10-12 percent.

5. How can I find a contractor ready to start right after closing?

I can refer you to a few but to get them to make you a priority you need to create a relationship. Be polite pay in full on time.

6. Do you recommend cash-out refinancing after renovations?
Always cash out refi asap and buy more houses as long as you have the houses cash flowing.


7. Can you share how you expanded your portfolio?

I buy rent cash out refi buy more. I also build in Florida ground up. Take that money to Ohio buy or pay down debt then refinance and buy more.


8. Have you explored short-term/medium-term rentals in your area for enhanced cash flow?

No again if you're good at
It a lot of money to be made but i have my recipe and i like it.

9. Single-family homes or multi-family – which do you prefer for investing?

Single family in Akron. Multi is few and far between. Atleast the good ones.

10. Thoughts on investing in Canton or the east side of Cleveland?
Canton is good similar market. Little lower rents. I would like to get to 500 homes before i leave Akron canton. There's a few small areas around Cleveland i want to go to


11. I'm struggling to secure mortgages for properties under $60k. Do you know of local banks or credit unions that might help?

Oucu tell them jeremiah at impact investment sent you.


12. Do you think it's a good idea for me to self manage my property since I'm out of state?

If you have all the resources and know what you're doing absolutely. I don’t think it hurts i use a pm. I would like to have a pm side to my business though.

13. By how much do you increase rents annually for your properties in Akron?

If the tenant is really good pays on time and doesn't ask for much i don’t always increase unless my expenses increase. A normal increase would be 10-30 dollars.


That's a correct thought about winters. No one moves after October. If i close on a house October or later i plan on it being vacant until at least March .

You can ask for the rent roll and see how long the tenant has been there and if they paid/are current. You can also do some things to have the tenant "reapply". But really if they pay and you have someone go inside and they take care of it that should not be a concern

We do section 8. I don’t find it harder to evict if anything it is the same process they just have to actually break the lease. The rents depend on the condition of the house i don't think they are below market. It's pretty fair value. That said you probably are not getting a section 8 tenant in the nicest house.


Do you check hud to see what the market rents are for section 8


 You are WAY overthinking Also, can't rent during October wherever you are getting your info from please stop, 100% incorrect. Tenants are the easy part. I will have 10 move ins this month. 

Harder to evict sec 8, again 100% incorrect. Rents are NOT determined by the condition of the house, and YES you get SEC8 for NICE props in the nicer areas. Also, CMHA pays MORE than cash tenants. Again, your DD is 100% incorrect. As I have posted many times, " stay off the internet its a waste of time." 

I am not speculating; I am an expert on " All that is Cleveland" and an expert on ALL the govt programs. 

All you need to do is connect with those doing deals, and allow them to handle. Its always best when the owners stay out of it, 

All the best  


 Hi Bob, Just my experience that things slow down in October and through the winter. I did say its not harder to evict for section 8. so i am not really sure where you got that from. 

The above is a text convo someone asked me question on trying to get informed. I think we actually agree on most of it.
 Thanks for your input and good job on the 10 move ins. 

Sorry about the sec 8 evicition mis-read No 95% of what is being stated is incorrect. 

 Thanks bob! 


 ALL you need to do is allow those with experience there handle it for you. I have never lived in OH and have done 100s and 100s and 100s. The less owners are involved the better, 

Good luck 

James Wise's profile image
  • #5 All Forums Contributor
  • Real Estate Broker
  • from Cleveland Dayton Cincinnati Toledo Columbus & Akron, Ohio
  • Member since Jun 13, 2013

User Stats

26,085
Posts
17,482
Votes
James Wise's profile image
  • #5 All Forums Contributor
  • Real Estate Broker
  • from Cleveland Dayton Cincinnati Toledo Columbus & Akron, Ohio
  • Member since Jun 13, 2013
James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
17,482
Votes |
26,085
Posts
James Wise#5 All Forums Contributor
  • Real Estate Broker
  • Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Replied Nov 16 2023, 05:58