Hey everyone! I’m a small multifamily investor in the Providence and Pawtucket, RI area, and I’m looking to expand into out-of-state investing, specifically Ohio and the Columbus/Cleveland markets. I’m currently working on learning the Ohio market, understanding which areas offer the best opportu...
I have a a question to the community. Do you think I can find someone who can fund my deal while I carry out the complete management renovation from start to finish. What is the appropriate? Split of course some part of my funds will be involved, especially during the Reno, etc. (background compl...
Have a property I finished got it appraised and everything but now I need to pull a DSCR loan trying to get a good rate
I wanted to know how much of the Cleveland market actually cash-flows at conservative terms, so I screened every active for-sale listing in Cuyahoga County this week (Oct 20). Assumptions: 25% down, 7% / 30-yr, 3% closing, 8% vacancy, 7% repairs, 8% capex, 10% management. Rent = 85% of HUD Small ...
I've been looking at the latest Cleveland market numbers for Q3, and a few things stood out. Here's a quick snapshot of city of Cleveland: • Median sale price: Approximately $150K, up 1% from Q2 • Active listings: Up 7.8% from Q2 • Homes sold: Down 5.3% from Q2 • New listings: Up 6% from Q2 • New...
Tenant turnover is one of those things where I think it's easy to go too far in either direction. On one hand, you want the unit to be clean, well-maintained, and appealing to the next tenant. On the other, not every turnover needs to turn into a mini renovation. If the flooring still has life le...
Hi Everyone! My siblings and I are purchasing a rental property together through an LLC and currently are talking to a national bank. They let me know that closing would take around 45-60 days. Is this normal? And if anyone has any good recommendations for DSCR lenders in Cleveland that can poten...
I've noticed more and more with investment properties is that there's a difference between making a property better and spending money on things that actually matter to the next buyer or tenant. It's easy to get caught up in wanting everything to be perfect, especially when you're already in the ...
Hey guys, I am looking to buy my first property myself in Cleveland, Ohio looking at the price to rent ratio I know I am buying in a rough area, but I like the long-term upside. I'm looking to get connected with an amazing realtor, Contractor and property management team. I would appreciate any i...
I have bought a few houses at auction and have sold them to family or for my own use. I am not a flipper. I just recently bought a house close to my daughter's under the first look program. And fully intended to move there. Once I got into the house I realized it was destroyed and will be lucky t...
Hello Can anyone suggest a LAIC for a property in Cleveland? Also, what is the going rate? Thanks Rene
I’m buying 20-60 unit apartment properties in Lorain County and west Cleveland, and I’m looking for a lender that will let a seller-financed second reduce the cash I bring to closing. I’ve seen a lot of creative finance deals done with 5-10% down where the seller carries part of the price, and I’...
When analyzing short term rental performance, most investors focus strictly on optimizing average daily rates and calendar occupancy. Yet capturing ancillary guest spending remains one of the cleanest ways to expand cash flow, provided it does not increase operational overhead or accelerate prope...
Hi, I am trying to finance my first multifamily. I have 15 cash flowing properties with $900k of equity, since they have low current rates I'd like a heloc or other ideas to find $150k for the multi family down payment. any advice or ideas please? Thanks, Jemma
I own 27 rental units across the U.S. and Canada. Cash flow gets most of the attention, but I also want to know how much debt I’ve paid down and how my equity has changed. I am horrible at keeping track of receipts and I have two year ends. One in Canada one in the US. Which sucks because year en...
Buying a duplex and want to see who everyone recommends for home inspections. I'd like a sewer camera inspection as well. please tell me you recommendations.
Looking for a title company in Cleveland Ohio that regularly closes wholesale assignments and double closes. If you've worked with one you'd recommend, please share: Do they close assignments without issue? Are they responsive and clear on fees? Do they work well with out-of-state or remote inves...
I've been thinking about this more lately. You get a property bought and renovated, and now you have two pretty different paths: sell it and move the capital into the next deal or hold it as a rental and refinance. Obviously, the numbers matter, but it's not always as simple as just picking which...
Hello everyone. Could anyone recommend a reliable and knowledgeable professional who can set up a trust or any other entity to shield myself from any future lawsuits related to my 2 rentals. I am a high level w-2 earning earning individual who is investing in real estate but i am worried if somet...
All - I'm looking at acquiring my first STR in MI. The current owner is providing facts/figures etc on the subject property. My question is how do I protect myself from the seller making false claims? My thought was to put all the Q&A in a doc and then have them attest to it perhaps? Any advice o...
Hey BP community! I am running low on personal capital so buying a property outright is difficult at the moment (until I refinance/sell my BRRRR projects going on right now). I was wondering if anyone has any experience of buying a move in ready investment property using a DSCR lender then Refina...
Curious how many investors here with properties in Greater Cleveland or Akron are still self-managing versus using a property management company? I work in property management here locally, and I talk with owners every day about leasing, tenant issues, maintenance, and all the day-to-day headache...
Hello, I live in Los Angeles and I am pretty liquid. This is a two part question and I hope someone can guide me in the right direction. 1) I am looking to buy Single Family Homes in Cleveland, OH to rent to Section 8. With average price of $70-$85k, I am considering either buying 10+ all cash or...
Sometimes you need to have a buffer between you and your tenants. Living on the east side of cleveland all my life I know there can be challenges that takes a specialized individual to handle. Would love to discuss the opportunity of managing your property or just keeping an eye on things while y...
Taking the time to build credit whether personal and business brings peace of mind. Although temptations arise keep the why in mind along with your system to circumvent emergencies. Budget. etc. Can you look at $1,000,000 in credit and not touch it unless there is a serious emergency; involving y...