Rental Property Investor · Beaumont, CA · Member since 2020 · 15 posts · 2 votes
Hello everyone, I hope all is well!
Just came back from a 2-day trip looking at MF units in the West side of Cleveland. Seems like there's a good amount of opptrountiy there. I already have property manangement, RE agent and contractor but looking for second opinions. Does anyone have any reccommendations?
Also, since we are approaching snow season has anyone tried finding tenants during these times? I would imagine it's harder? Also, what cost may be associated with snow? Snow removal?
Investor · Member since 2019 · 145 posts · 131 votes
4y
@Ruben Jimenez
Great to meet a fellow Cleveland real estate investor. All the property managers I've talked to have rarely seen owners be responsible for snow shoveling in MFHs. If an owner does want to send someone out, it runs in the neighborhood of $200 per trip, but for MFH, the tenants will take care of it. By the time you send someone out, the shoveling might have already been done.
Investor · Member since 2019 · 145 posts · 131 votes
4y
@Ruben Jimenez
Great to meet a fellow Cleveland real estate investor. All the property managers I've talked to have rarely seen owners be responsible for snow shoveling in MFHs. If an owner does want to send someone out, it runs in the neighborhood of $200 per trip, but for MFH, the tenants will take care of it. By the time you send someone out, the shoveling might have already been done.
Just came back from a 2-day trip looking at MF units in the West side of Cleveland. Seems like there's a good amount of opptrountiy there. I already have property manangement, RE agent and contractor but looking for second opinions. Does anyone have any reccommendations?
Also, since we are approaching snow season has anyone tried finding tenants during these times? I would imagine it's harder? Also, what cost may be associated with snow? Snow removal?
Thanks!
When the building is an apartment building with a dumpster then you've got to cover the cost of plowing the lot. If it's just a driveway like with singles and doubles the tenants can handle it if they want the snow removed.
Congrats on having the first set of your team established. Can you recommend your contractor ? I am preparing to close and creating a list of my own for my renovations.
Great to meet a fellow Cleveland real estate investor. All the property managers I've talked to have rarely seen owners be responsible for snow shoveling in MFHs. If an owner does want to send someone out, it runs in the neighborhood of $200 per trip, but for MFH, the tenants will take care of it. By the time you send someone out, the shoveling might have already been done.
$200 for a plow is outrageous. Do more research. You should have no problem finding someone for under $100, unless it's a last minute thing when literally everyone is calling them.
Great to meet you as well and thanks for you reply. Very good to know that the tenants will usually handle snow shoveling so I will talk to the property MGMT to see if it is usally included in the lease. Let's connect, would love to chat with you.
Great to meet a fellow Cleveland real estate investor. All the property managers I've talked to have rarely seen owners be responsible for snow shoveling in MFHs. If an owner does want to send someone out, it runs in the neighborhood of $200 per trip, but for MFH, the tenants will take care of it. By the time you send someone out, the shoveling might have already been done.
Just came back from a 2-day trip looking at MF units in the West side of Cleveland. Seems like there's a good amount of opptrountiy there. I already have property manangement, RE agent and contractor but looking for second opinions. Does anyone have any reccommendations?
Also, since we are approaching snow season has anyone tried finding tenants during these times? I would imagine it's harder? Also, what cost may be associated with snow? Snow removal?
Thanks!
When the building is an apartment building with a dumpster then you've got to cover the cost of plowing the lot. If it's just a driveway like with singles and doubles the tenants can handle it if they want the snow removed
Great info James, thanks for sharing. I don't think any of they units I saw had a dumpster but will double check with this and defiantly keep this in mind for the future.
Congrats on having the first set of your team established. Can you recommend your contractor ? I am preparing to close and creating a list of my own for my renovations.
Hey Jezelle, thank you very much and congrats to you as well! Great to hear this. I will shoot you a request, let's connect.
Great to meet a fellow Cleveland real estate investor. All the property managers I've talked to have rarely seen owners be responsible for snow shoveling in MFHs. If an owner does want to send someone out, it runs in the neighborhood of $200 per trip, but for MFH, the tenants will take care of it. By the time you send someone out, the shoveling might have already been done.
$200 for a plow is outrageous. Do more research. You should have no problem finding someone for under $100, unless it's a last minute thing when literally everyone is calling them.
Thanks Dave, This is good to know, I will make sure to get multiple quotes when needed.
@Ruben Jimenez what exactly are you looking for second opinions on?
Hi Dave, I am looking for additonal references on property mgmt, contractors and handyman. Maybe opinion is not the best word, just for clarification im looking for additional quotes. Not sure if anyone would eaisly recommend a contractor but thought I'd ask anyways. Your response is much appricated.
Investor · Northern Virginia · Member since 2021 · 68 posts · 30 votes
4y
@Ruben Jimenez, Hey there, good to hear from others investing in Cleveland. My brother and I are also currently looking to invest with duplexes, tri and mid size MF (20-40 doors) via 1031 Exchange. We put together a team of realtor, PM, attorney, CPA etc... Apart from my amazing realtor/investor who is very familiar with the area, I don't want to send recommendations on the rest of the team until we start doing business. However, let me know if you're interested in connecting and sharing knowledge/network as out of town investors. I learned a lot about investing in the CLE market from other BP members so it's been very helpful to talk to others that have done what we're doing. We plan on making a trip to CLE soon to check out thel properties on my strong potential list. Good luck on your REI goals!!
@Ruben Jimenez what exactly are you looking for second opinions on?
Hi Dave, I am looking for additonal references on property mgmt, contractors and handyman. Maybe opinion is not the best word, just for clarification im looking for additional quotes. Not sure if anyone would eaisly recommend a contractor but thought I'd ask anyways. Your response is much appricated.
I would think that a good property management company would include handyman services - have you found otherwise? Unfortunately I don't have any PM referrals right now. Unless you're looking at short-term rentals...
You're probably going to find that people in Cleveland are reluctant to give you the names of their favorite contractors and handymen because they are so hard to find and they're all so busy. You will probably have to do a lot of leg-work/trial and error. On the other hand, a good real estate agent should be glad to make referrals to help make the sale, so that's probably your best bet.
@Ruben Jimenez, Hey there, good to hear from others investing in Cleveland. My brother and I are also currently looking to invest with duplexes, tri and mid size MF (20-40 doors) via 1031 Exchange. We put together a team of realtor, PM, attorney, CPA etc... Apart from my amazing realtor/investor who is very familiar with the area, I don't want to send recommendations on the rest of the team until we start doing business. However, let me know if you're interested in connecting and sharing knowledge/network as out of town investors. I learned a lot about investing in the CLE market from other BP members so it's been very helpful to talk to others that have done what we're doing. We plan on making a trip to CLE soon to check out thel properties on my strong potential list. Good luck on your REI goals!!
Nice to meet you Abiy, and glad to hear there are others on the BP forums as well, this is such a great site. When do you project on doing business out there? I would like to acquire a property by end of year then another one during Q1 of next and would like to make a trip back out there in March. Do you mind sharing your realtor? I will shoot you a request, it will be much appreciated. Good luck on your REI goals too!
@Ruben Jimenez what exactly are you looking for second opinions on?
Hi Dave, I am looking for additonal references on property mgmt, contractors and handyman. Maybe opinion is not the best word, just for clarification im looking for additional quotes. Not sure if anyone would eaisly recommend a contractor but thought I'd ask anyways. Your response is much appricated.
I would think that a good property management company would include handyman services - have you found otherwise? Unfortunately I don't have any PM referrals right now. Unless you're looking at short-term rentals...
You're probably going to find that people in Cleveland are reluctant to give you the names of their favorite contractors and handymen because they are so hard to find and they're all so busy. You will probably have to do a lot of leg-work/trial and error. On the other hand, a good real estate agent should be glad to make referrals to help make the sale, so that's probably your best bet.
Yes, you are correct the property management company does include a handyman but was thinking to have another one in back pocket just in case needed but it's they may do well out there. And thanks about the reference to agents, I'll make sure to leverage them.
Investor · Northern Virginia · Member since 2021 · 68 posts · 30 votes
4y
Hey Ruben, I'm hoping to start making offers on a few duplexes in the next week or 2 before winter as I just got an offer on one of my properties. I'm doing my 1st 1031 Exchange iwith my brother and it's been a good experience so far. Check your inbox for my realtor's contact. She's very experienced at working with investors and she's knowledgeable about the different areas around Cleveland. Let's connect and share notes on investing in CLE in the future.
Real Estate Agent · Cleveland, OH · Member since 2021 · 20 posts · 14 votes
4y
It is not a fixed cost and depends heavily on the amount of snow we receive each winter. It is important to plan early and secure a reputable and properly insured company for snow removal. The good ones that actually show up fill up fast and often have all their winter contracts set up before the first snowfall. They usually set up a contract to automatically go out and plow/shovel any time we receive 2 inches or more of snow. They normally charge on a per trip basis which depends on the weather.
Real Estate Agent · San Marcos, CA · Member since 2018 · 22 posts · 27 votes
4y
Hi Ruben, I bought my first investment in Cleveland back in June and working at getting a PM in place. I have a section 8 tenant I'll probably be evicting (fun times). Also trying to buy one more property there by end of year. Could you share the PM you are looking at working with? I haven't even been to Cleveland and trying to get out there soon as well. Good luck!
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
@Ruben Jimenez the last thing you need is a realtor. All you need to do is connect with those with years of experience and those that handle everything for out of state investors ( provide the property , and all PM ) and allow them to handle it all for you . Also very important you have the proper PM co, one that does not overcharge you, and actually does what they say,
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
@Jeff He not sure where you are getting $200 from, 100% incorrect unless you are talking about a 50 unit building with an enormous parking lot .BTW I am not speculating as I have extensive experience years of PM, and about 500 flips
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
@Ruben Jimenez you absolutely cannot just hire a contractor ( and have one " in your back pocket " they are not going to respond to you for one job much to busy ) you will 100% get ripped off . You need to connect with a team that is doing deals weekly one that has your best interest in mind not theirs. One that has committed contractors that work for them full time .
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
@Ruben Jimenez nobody is going to give up a contractor, they are like diamonds out there, ( I know them all ) very rare to find a fair priced reliable ones, it took me years . I now have about 25 and add more weekly . You need to step back, and allow the PM to handle all for you, But very important to find the best, one that does what they say at a fair price.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
@Jezelle John you do not need contractors you need PM. You cannot just hire a contractor you will get hosed . Simpy connect with a reliable PM and stay out of their way, let them handle all
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
4y
@Kash Jawed If you are a cash buyer you will have some luck getting one, If you are not well very difficult to get a great deal Much to much competition and there is simply no inventory . You need to connect with someone that is doing deals out there not a realtor, they have nothing but listed on MLS,
I have been interviewing PM, a few of them told me they do not help with finding the contractors. They just oversee the work I am having done. The PM I have now said they would offer me their contacts but they are not responsible for the work of the contractors. I figured let me see what other BP members may offer.