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All Forum Posts by: Andrew Duna

Andrew Duna has started 2 posts and replied 62 times.

Post: Building a team

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82
Quote from @Taylor Keller:
Quote from @Andrew Duna:

Hi Taylor- Congrats on having a few properties already! I am an investor focused agent and I've put a lot of time putting together my website where I compile all of the best properties - I also have a team that is on top of the market and is also constantly scouring all possible sources for the best off-market deals as well. Only the best-of-the-best properties are posted with a detailed evaluation 

Having my team in place allows us to stay on top of things while also allowing me to go build relationships to get you access to better properties + actually get your offers accepted! I'd love a shot to work together

*Just FYI -if you do check out the site- you would have to register to view the properties (Ohio Regulations)


 Good Morning, Andrew!




Thank you for reaching out—and I really appreciate the insight about the Ohio regulations. That’s definitely helpful to know as we start navigating the market more seriously.


It sounds like you’ve put a ton of work into building a system that brings real value to investors. I can tell you really understand what it takes to not just find deals, but actually get them closed. That’s huge.


Quick question for you—how do you balance sourcing off-market deals with making sure the numbers and long-term potential of the properties still hold up in today’s market? I’d love to hear your perspective.


Also, my partner and I are currently in the process of building a team. Our goal is not only to build wealth for ourselves, but to help everyone on our team grow as well. We’re compiling a list of questions to make sure we’re all aligned before moving forward.


Would you be open to answering a few of those when the time comes?


Looking forward to connecting more.


Best,
Taylor 



 Hey Taylor-  Sure thing- The way I balance those two is because I've built out a rigorous + standardized underwriting system and have a team that is trained on how to evaluate these properties + I'm constantly reaching out to people to try and find you the best deals (to then put those through the underwriting before recommending them to you)

Post: Building a team

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hi Taylor- Congrats on having a few properties already! I am an investor focused agent and I've put a lot of time putting together my website where I compile all of the best properties - I also have a team that is on top of the market and is also constantly scouring all possible sources for the best off-market deals as well. Only the best-of-the-best properties are posted with a detailed evaluation 

Having my team in place allows us to stay on top of things while also allowing me to go build relationships to get you access to better properties + actually get your offers accepted! I'd love a shot to work together

*Just FYI -if you do check out the site- you would have to register to view the properties (Ohio Regulations)

Post: Section 8 investing

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hey Alex - would love to help you with your s8 investing journey- I think its a great to boost returns and mitigate risk 

Post: Cleveland Ohio Realtor

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hey Jordan! Investor focused agent here from Cleveland- would love to help you with your investment journey and connect you with the right people to complete a BRRRR including some personal-connection contractors

Post: Good C Class Neighborhoods to invest in in Cleveland, OH

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hi Owen- Most others have covered the specific areas to consider. I would just add that the West Eighties neighborhood is bound to experience some appreciation with being sandwiched between the Tremont and Edgewater neighborhoods. 

Some other things to consider with investing in Cleveland are these two topics... 

Certain neighborhoods will have what's called a POS or Point Of Sale inspection. Basically the city sends their own inspector out who compiles a list of items that are required to be fixed usually within 3-6 months of taking ownership. 

Sometimes when placing an offer --  the POS is not yet available - and when you place an offer you can make your offer contingent upon approval of these items... although in order to have a competitive offer in this seller's market you are basically forced to "assume" the pos violations once they become available (usually 2-3 weeks after it's been ordered) -- you should be able to tell if anything more serious might come up on the POS via your own personal inspection. 

A good rule of thumb -- if the neighborhood has "Heights" in it- then it will usually have a POS. For example: Maple Heights, Garfield Heights, Shaker Heights, Cleveland Heights, And Euclid is a sneaky area that also has a POS. As @Patrick Drury mentioned- the West Side does not have any POS areas (besides Lakewood, but it's only needed for previously non-owner occupied/rental properties) 

Something else to consider in Cleveland proper is Lead Safe Testing .. @James Wise has a great video explaining this: 

As an investor focused agent with boots-on-the-ground here in Cleveland- I would love to help you find and purchase a solid property!

Hi Marc - Congrats on the properties so far! 

In general I'm not sure where you might be seeing properties for $5-30k with ARVs of $180k. If you see those frequently then please let me know as I'd love to flip them lol! Usually the price range I recommend for single family is $85k - $110k. Duplexes-- $120-150k-- if a duplex is under $120k there is usually a very good reason for it (bad location, bigger issues, low rents/bad tenants). 

The general inventory of well-priced and attractive properties typically flies off the market within 3-5 biz days. If a property lasts more than 15 days it's usually because it's either overpriced or has a larger issue (or both!)

I'm generally unsure of what other metro Cleveland might compare to-- but I do know there is a lot of interest and it seems we are in the middle of a wave which I feel will lead to a lot more appreciation than the Cleveland market usually experiences over the next 5 years.

I am an investor focused agent here in Cleveland and I'd love to answer any other questions you may have! 

Post: Cleveland market and Experience

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hey Jake -- congrats on already having invested in two other areas!

Cleveland is a little bit of a mixed bag. The reason it's currently known for its cashflow is because the properties are cheaper because they are in slightly less desirable C-class areas. In general you can definitely secure a great tenant but there's always the chance you get a bad egg. Just like any area- it really comes down to how well you vet your tenants. 

With that being said - the best areas to consider for a single family home for cash flow is going to be on the West Side and if you look at google maps these neighborhoods will appear if you zoom in/out -- Detroit Shoreway, West Eighties, Cudell, West Boulevard, Jefferson, Bellaire-Puritas, Brooklyn and Old Brooklyn. These are all C class areas and typically cashflow quite well 

Old Brooklyn is currently the most desirable out of those and has the best chance at future appreciation. At a close second... the West Eighties area is set to appreciate with being sandwiched in between the gentrified Tremont and desirable Edgewater neighborhoods.

If you're really really going for cashflow you might consider buying a 3+ bed SFR in the eastern end of the Clark Fulton Area (currently D class) and going the Section 8 route... because the Metrohealth hospital in the Eastern end of it has pledged $1 Billion dollars to revitalizing the area and there are many housing projects going up in the area. So it's one of the rare times a section 8 property has a great chance for appreciation in CLE.

There is also the "Heights Belt" - Garfield + Maple + Warrensville Heights that essentially always have a decent single family property to pick up. 

You might also consider the Lorain market which is considered to be a part of Cleveland's western orbit. You can typically always find cheaper properties with less property taxes -- just remember that if you intend to purchase more properties in Cleveland -- that your property manager may not service both areas since it is half an hour away. 

I hope this helps and as investment focused agent here in CLE --  I would love to help you find a solid property to consider! 

Post: FHA owner occupancy

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hey Amy, Welcome to the Area! With a normal FHA loan you would be expected to occupy the property within 60 days of closing.

An FHA 203k loan- on the other hand- does not specify when the owner would have to occupy the property. You would just be expected to move in within a reasonable time frame of completing the renovation. And definitely legally have to occupy at least one unit for at least 12 months at some point.

I'm an agent who used to be a loan officer and would love to help with your property search! 

Post: Investing in Geneva, OH east of Cleveland??? Good or Bad Idea?

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hey Manwell-- Congrats on already having two good performing assets!

In general I have heard good things about the Geneva area. My partners bought 62 units in Madison Ohio (only about 11 minutes away driving/one town over) in Dec of '21--  and they surpassed their proforma rents and general projections -- in a good way. 

Obviously it's hard to say if it will make sense over the long term.. but.. Geneva On The Lake (GOL) is a relatively popular tourist destination (with no signs of decline) and for that reason slightly more expensive- so you could expect that the workers who keep GOL going might look to rent in Geneva. 

I'd be more than happy to connect you with my partners to talk more about it. I've also run underwriting on larger (10+ unit) multifamily using a specially designed spreadsheet at least 50 times now and could assist with that as well. 

Post: Interior Designer / space planner

Andrew DunaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 66
  • Votes 82

Hey Jacob - I know that Dimit Architects do a great job at interior design. They recently helped stage this higher-end apartment complex project:

https://www.treoliving.com/pho...

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