Updated over 4 years ago on . Most recent reply
Cleveland Ohio--SFR investments
Hello everyone,
Anyone have any intel or experience with multi-family rentals in Cleveland Ohio? I was browsing through redfin and I noticed that homes can be purchased for as low as 50k! I'm looking to invest outside of the Los Angeles area, someplace a bit more affordable. My goal is cashflow!
Any help is welcome and greatly appreciated.
Best,
Jim
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- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
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@Jim Jones I'm also out here in California and have bought in Cleveland. First two things I will tell you.
1. Get pre-approved with a lender first. Even if you will pay cash, get pre-approved with a lender. You will be taken much more seriously and not viewed as a tire kicker when you do this. I also know of a lender that will do mortgage loans on properties for as low as 40K.
2. When you are considering an agent or PM make sure you are able to speak with them by phone before you have them represent you. I don't mean just email or text. I mean you want to be able to speak with them live (without being charged). Trust me it makes a world of difference. I found this out the hard way.