Can anyone recommend a commercial broker Midwest?

Question

Can anyone recommend a good commercial broker in Midwest? I have few single family rentals in Colorado but now want get into apartments. I have been keeping my eye on apartments in Cleveland area where I might be able to buy about 12-24 units around $500k-$700k. I thought I will talk to few brokers to see where I stand financially and start building relationships. If you recommend a particular market, I would love to hear about it as well. Thanks

John Warren · Answer

@Thomas Wang you will probably want to find local brokers who specialize in commercial deals in the sub market you choose. Unless you are looking at more institutional grade assets, you will be dealing with local players when you look at 12-24 units in that price point. You will also want to focus locally as you will need to really understand how to underwrite deals in the sub market you choose. Early on in my career I didn't understand how all this worked, and I missed out on a lot of deals locally in the Chicago suburbs. Networking with these brokers is critical!

James Wise · Answer

While you're looking at Cleveland I suggest taking a look at The Ultimate Guide to Grading Cleveland Neighborhoods to give yourself an idea of what to expect when going from neighborhood to neighborhood here in the Cleveland market.