Euclid, Garfield height

[Alana Nevares]

We acquired 4 properties this year, 1 GF heights, 1 Euclid, 1 Univ Heights and 1 Cleveland Heights. 

Most of them in the 60-80 000 range. Now, Furnaces are very old in most of them. I was just reading a post on CapEx and the trouble that this low cose properties can cause. We are cash flowing about 200 per door. Some 250. One Furnace will take the whole year income. Any thoughts about the Euclid Market for example, are this too good to be true deals?

If anyone has experience in buying in this area, and having to replace big items soon after purchase, would like to hear your experience. 

Also, out of state and using management companies.

[Tom Ott]

Originally posted by @Alana Nevares:

We acquired 4 properties this year, 1 GF heights, 1 Euclid, 1 Univ Heights and 1 Cleveland Heights. 

Most of them in the 60-80 000 range. Now, Furnaces are very old in most of them. I was just reading a post on CapEx and the trouble that this low cose properties can cause. We are cash flowing about 200 per door. Some 250. One Furnace will take the whole year income. Any thoughts about the Euclid Market for example, are this too good to be true deals?

If anyone has experience in buying in this area, and having to replace big items soon after purchase, would like to hear your experience. 

Also, out of state and using management companies.

 Euclid is a GREAT area for buy and holds. If you are purchasing a property that cheap, make sure you are willing to put the work in first. A fully renovated property in Euclid can go for $89,00-$110,000 and can rent anywhere from $1,000 - $1,300 depending on a lot of factors.