Calling investors in Euclid OH

9 Replies

Hi Euclid investors,

I’m in escrow on a property in Euclid. I’d love to connect with other folks that are investing there so we can connect!

I have some questions about how taxes work. It seems a little bit like voodoo and I’m having trouble planning taxes in to my calculations. It can make a big difference to cash flow.

Thanks!

Nicole

Hi @Nicole S. - Congrats on your new purchase! I own a couple properties in Euclid and would be happy to help out however I can. You could easily check to see if there are any exemptions on the property taxes. If there are, those will most likely go away once transferred into your name.

@Nicole S. And @Kyle Lewis how did you find your properties in Euclid and who are you having manage your properties?

Hi @Nicole S. I am also purchasing a rental home in Euclid, OH (near the Euclid Hospital) and currently in contract. I recently received a POS inspection with a list of items that needs to be fixed by the seller and seller is giving me the option to fix these items myself with a concession. Any idea what I should do here? Any insight would help!

I see 4 things on last tax bills for a property I’m looking at. 

  • Euclid taxes
  • Street lights
  • Sewer
  • Grass cutting (some years)

The core taxes make up the bulk of it, but grass cutting started in 2013 and is almost $1000. The total tax bill could be over 4000!

Properties in the area range from 2500 to 3500. 

Taxes could have a huge impact on cash flow so it’s a factor in evaluating this as an investment. 

Thanks!

@Andrew Kerr I have just found my property on the MLS. I was clear on my strategy and the numbers had to work. I evaluated at least one property a day, sometimes a lot lot more, so when I saw the deal I wanted, I jumped on it and I had a good feel for value. I'm sure there are better ways to find better deals, but for my first one, I feel really good.

I found my property manager through my agent who I found through networking on BP. :)

Hi Nicole S.,

I just came across your post...If you don't mind me asking - did you end up buying this property and what do you think of buying in Euclid now?

I am looking in Euclid - if you could recommend a reliable general contractor, I would greatly appreciate!

David K

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