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?
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.
I am an agent in Cleveland. I do not think you wil have any issues finding a tenant during the colder months. People still need to move. The only real issue is keeping the drive and sidewalks clear for the showings and cleaning up after. Snow and salt gets brought in.
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.
Hey Abiy, I did get your message in my inbox, it is much apprciated! Let me know how it goes with offers, congrats on your first 1031 exchange as well!
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.
Hey Robert,
Thanks for the information this is great to know, it is much appriciated. I have not reached out to any of these companies as the property management companies I spoke to say they would cordinate all this for me however I will still reach out to them to gain some more insight.
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!
Hi Leah,
Sorry to hear about you potentially having to evict but happy to hear you were able to pop on your first investment in Cleveland. I keep hearing from veterans out there that real estate is forgiving over time so I know you will do good once you past this hurdle. I will shoot you a message, let's chat.
@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,
Good Luck
Hey Bob,
Thank you for this information and that is what I am seeing as I am connecting with folks out there. Seems like some one the more experience realtors out there have a lot of good contacts and have a good understanding of what is needed for an out of state investor.
@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 .
@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.
Good luck
Bob, you just have a ton of valuable information thank you for sharing. One of the property manangement companies that has my #1 pick for hire says they can hire the contractors and manage the work for 15% fee of of the total cost to hire the contractor. Would you say this is fair or a normal practice?
Thank you for this information and that is what I am seeing as I am connecting with folks out there. Seems like some one the more experience realtors out there have a lot of good contacts and have a good understanding of what is needed for an out of state investor.
the LAST THING you need is a realtor, waste of time,
Bob, you just have a ton of valuable information thank you for sharing. One of the property manangement companies that has my #1 pick for hire says they can hire the contractors and manage the work for 15% fee of of the total cost to hire the contractor. Would you say this is fair or a normal practice?
NOT the way you want to have your property managed . EXTREMELY expensive and its in their best interest to have the highest price for the job, terrible , just terrible how PM cos out there treat clients .