Investor · Dedham, MA · Member since 2017 · 3 posts · 3 votes
Hi BP,
I'm looking to purchase single family properties for buy and hold (willing to do some renovations but not full flips) on the east side of Cleveland (Euclid, South Euclid, Garfield Heights, Cleveland Heights, Maple Heights). I'm an out of state investor from Boston who needs a real estate agent locally that has experience working with out of state investors. My goal is to start with one property and if things go well, purchase another one or two later this year. I'm already pre-approved in Ohio and ready to go. Does anyone have a recommendation an on agent who is experienced working out out of state investors in this area?
Real Estate Broker · Cleveland, OH · Member since 2015 · 239 posts · 224 votes
6y
Hi Tom,
These areas you've mentioned all have Point of Sale and rental registration/occupancy licensing requirements that can be pretty tricky to navigate (and will often require a lot of cash up front to be held into escrow/pay for repairs). Make sure you find an agent who knows the procedures for each of these municipalities well, otherwise the process will be a nightmare.
Investor · Dedham, MA · Member since 2017 · 3 posts · 3 votes
6y
@Steven Dragmen Thanks Steven. I pinged you and I appreciate you passing along that contact information.
@James Maradits Thanks James. I am familiar with POS and registration/occupany licensing requirements. Do you have recommendations on towns that don't have these issues that have similar returns at similar price points? Looking for B/C class areas. The posts I have read have recommended these towns but i'm open for suggestions.
@Steven Dragmen Thanks Steven. I pinged you and I appreciate you passing along that contact information.
@James Maradits Thanks James. I am familiar with POS and registration/occupany licensing requirements. Do you have recommendations on towns that don't have these issues that have similar returns at similar price points? Looking for B/C class areas. The posts I have read have recommended these towns but i'm open for suggestions.
There tends to be a little bit more inventory at lower price points in the areas you've mentioned. I suspect a lot of this has to do with the POS requirements making it difficult for the average owner/occupant type buyer to make purchases in these areas. Most of the West side does not have POS requirements or rental inspections. Parma, Brooklyn, Cleveland (44111,44109,44135) could all be decent options for this.
I'm looking to purchase single family properties for buy and hold (willing to do some renovations but not full flips) on the east side of Cleveland (Euclid, South Euclid, Garfield Heights, Cleveland Heights, Maple Heights). I'm an out of state investor from Boston who needs a real estate agent locally that has experience working with out of state investors. My goal is to start with one property and if things go well, purchase another one or two later this year. I'm already pre-approved in Ohio and ready to go. Does anyone have a recommendation an on agent who is experienced working out out of state investors in this area?
Thanks,
Tom
There are plenty of us out here. Just keep looking in the forums.