Investor · Carle Place, NY · Member since 2016 · 14 posts · 5 votes
Hello everyone, hope all is well..
Is anyone investing in Cleveland, OHio and would like to connect and maybe we share experiencs and help each other out. pls msg me. Thanks
Hello everyone, hope all is well..
Is anyone investing in Cleveland, OHio and would like to connect and maybe we share experiencs and help each other out. pls msg me. Thanks
As for the concept of investing out of state in general remember that It's not really that complicated to buy out of state. It only becomes complicated when investors try to over complicate or over think everything. Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.
Don't buy in the roughest neighborhood in the urban core. Pick a solid B-Class suburban area. Perhaps a nice 1950's built bungalow.
Always hire a 3rd party property inspector to give you an unbiased feel for the home. The reports are 40-90 pages long and go through the entire house in great detail.
Get an appraisal. If your using financing the bank requires this. This is good. The bank isn't going to let you blow their money. They have more skin in the game then you do.
Make sure you get clear title. If using a lender this is a non issue. They will make you do this. It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.
Make sure your property manager is a licensed real estate brokerage.
Understand you can not eliminate all risk, only mitigate it. If you are risk adverse real estate, (especially out of state) is not for you.
Hello everyone, hope all is well..
Is anyone investing in Cleveland, OHio and would like to connect and maybe we share experiencs and help each other out. pls msg me. Thanks
As for the concept of investing out of state in general remember that It's not really that complicated to buy out of state. It only becomes complicated when investors try to over complicate or over think everything. Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.
Don't buy in the roughest neighborhood in the urban core. Pick a solid B-Class suburban area. Perhaps a nice 1950's built bungalow.
Always hire a 3rd party property inspector to give you an unbiased feel for the home. The reports are 40-90 pages long and go through the entire house in great detail.
Get an appraisal. If your using financing the bank requires this. This is good. The bank isn't going to let you blow their money. They have more skin in the game then you do.
Make sure you get clear title. If using a lender this is a non issue. They will make you do this. It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.
Make sure your property manager is a licensed real estate brokerage.
Understand you can not eliminate all risk, only mitigate it. If you are risk adverse real estate, (especially out of state) is not for you.
Investor · Hoboken, NJ · Member since 2016 · 8 posts · 2 votes
8y
Ohio City has been booming and it will continue very trendy and its the place to be after college ... Very similar vibe as Williamsburg / Hoboken NJ... There is a lot of property there and every free space has contractors building town homes.
Hello everyone, hope all is well..
Is anyone investing in Cleveland, OHio and would like to connect and maybe we share experiencs and help each other out. pls msg me. Thanks
A lot of the suburbs in Cleveland are taking off right now! Great time to jump in!
Investor · Carle Place, NY · Member since 2016 · 14 posts · 5 votes
8y
Thanks e every one very helpful information. Now, im in contract with single family search of a referal to a responsive , license d & trust worthy property management company in south Euclid, oh area. Any volunteers?
Los Angeles, CA · Member since 2018 · 4 posts · 1 vote
8y
Hi Josh, I invest in rental properties, in and around Cleveland with a partner who lives there. I'd be happy to chat further and put you in touch with some "boots on the ground" out there and answer any questions.
Hi Josh, I invest in rental properties, in and around Cleveland with a partner who lives there. I'd be happy to chat further and put you in touch with some "boots on the ground" out there and answer any questions.
Specialist · Louisville, KY · Member since 2017 · 166 posts · 154 votes
8y
Tom Ott Tell me about it. I was going to move to Louisville, KY, but we decided to head closer to family since we have two young ones. Trying to find a nice place in Rocky River has been insanity. Find an overpriced gut property in a good area and it has a trail of potential buyers with their contractors coming in and out like ants...to be under contract in days or hours.