Is there anyone else investing in Cleveland Oh and live in NY?
Errrrrrybody is comin out to the land. If you are joining the fun I recommend reading The Ultimate Guide to Grading Cleveland Neighborhoods before pulling the trigger. Those out of state eyes can get ya into a fuzzy situation without some background on the different neighborhoods we've got out here.
Is there anyone else investing in Cleveland Oh and live in NY?
Errrrrrybody is comin out to the land. If you are joining the fun I recommend reading The Ultimate Guide to Grading Cleveland Neighborhoods before pulling the trigger. Those out of state eyes can get ya into a fuzzy situation without some background on the different neighborhoods we've got out here.
@Clinton Straub - I have customers from California, Washington, Texas, Florida, Arizona, New York, New Jersey, Michigan, Wyoming, Virginia, among others - and even a few from right here in CLE. Lots of activity from out of state investors.
Though not from New York (from California), I would love to connect with fellow investors looking to invest in Cleveland. I'm looking into MFH in Cleveland and/or Columbus at the moment.
Is there anyone else investing in Cleveland Oh and live in NY?
I know plenty of investors from NYC investing in Cleveland. Not even just from NYC, they are also from other areas in NY. Cleveland is so affordable right now, great time to jump in!
@Clinton Straub Philly is incredibly hot right now. Flips and Buy/hold strategies are really thriving in this market. As an investment realtor, I've watched my clients make a lot of profit from the appreciation of the city as a whole. If you need help finding good numbers in Philly, let me know and I'll show you some of the past deals i've done!
How are you all getting good property management from such a distance? Initially I was gung-ho about investing out of state but now I'm not so sure. I just don't know how good the property management would be for a small multi-family. I saw enough slum lord property management right here in NYC to know that's not my brand. How are you all managing it?
@Josane Cumandala - I actually don't use a property management company, while not ideal, I manage the properties from here (with typically monthly long weekends there) - I have boots on the ground that I can call should an emergency arise (family & a list of contractors that I can trust).
I personally don't see my brand as "slum-lord" either, to help avoid that I'm pretty selective with the properties that I purchase & invest a lot of time on my monthly trips taking care of the routine maintinence. Between the basics, building a dialogue with my tenants & having the list of trusted contractors it's worked out fairly well for both myself and the tenants.