All Forum Posts by: Carla Kordab

The contract I have is the Columbus Realtors version. The property is located in Cleveland.

I’m so scared to send it.. idk if I should edit and modify it in any way.

Looking for recommendations for turnkey providers or quality property management companies. I am looking to acquire a multi-unit property (preferably Tri or Fourplex) using 1031 funds from sale of a rental property in Cleveland OH. Willing to look in OH, throughout the Mid-West, or nationwide depending on the property. Focus is to use my equity to increase my number of units and cashflow. 

Please pass along any recommendations and contact info. 

Thank you!

Jeff B. 

Been making calls this week trying to get some contractors to view and provide bids on a property I'm interested in flipping. If I get calls back, it seems everyone is a week or two out. Most of the contractors I called I got off BBB site or knew the name and reputation by word of mouth. Would love any advise.

Also trying to find Hard and Private money lenders, if anyone has any one they would refer for Az would greatly appreciate!  Also, one property I was interested in wanted proof of funds for an offer, but the lenders I have spoken to want me to have a property under contact...is one way or another more typical?  

Many thanks!

Hello,

New investor and new to the Cleveland market.  Looking to invest from a distance and have already found a realtor that has been great on leads, etc. 

However, I would like to network with some current investors in the market to learn more about certain neighborhoods, pm's, lenders, etc. I currently live in California and have much different weather trends, rental markets, etc. than in Cleveland and would like to learn a little more about what to expect being an investor in the Cleveland area from afar.

I thank you in advance for being willing to share any insight you can offer!

Hi, I am an out state investor. Currently have one property on a different state. Prices are high where I live, so I want to try Cleveland market. My focus is to buy properties that can be rented on Section 8. I need to build a team, agent, lenders, etc. I read on a post that is difficult to finance properties under 100K. That is new to me, as the property that I bought was 123K. I also check the Ultimate Guide to Grading Cleveland Neighborhoods, advising to stay in C and D neighborhoods. 

Any advise helps, as I am already looking for properties in Cleveland.

Thanks

Hi BP,

I am just getting into the multifamily space and was wondering if MFs are more or less resilient than SFHs in the same market during a housing downturn. I am looking at MFs in Cleveland and wonder if I should wait 3-6 months if consensus is that home prices will continue to fall in that period (and maybe even beyond). Just curious how much of this downturn affects MFs. I know rates will likely go higher but let's ignore that for now.

Thanks.

Hi

I currently live in IL and read that Orlando, FL is a good place to buy a rental property. I would hire a property mgmt company if I were to buy one since it will be out of state for me. Has anybody done this for the first time and is it giving you cash flow? I will be renting long term, not looking to do airbnb unless thats better to do there than renting long term. Please advise. Any insights? I'm trying to choose between Ohio and Florida. Thank you.

Cleveland Heights requires a POS inspection BEFORE entering into a contract to purchase. My seller has 5 properties that need these inspections done and he is overwhelmed and doesn't even know how to handle them. How do I help move him forward so that I can write him offers? The inspections range between $200-300 so they aren't expensive. Was thinking I could split costs with him but that might be money that I'm just burning if I can't get him in contract. I have sent him links to POS inspections website with all the information but he is not moving forward because he has a problem tenant that is taking up all his brain space.

I'm willing to pay for a phone call with an experienced Cleveland Heights investor to help get me through this hump. Thanks!

Note on mentorship: I am looking for a close touch relationship with a mentor. I'm paying for a mentorship program and I am not getting what I want out of it and am hoping to develop a relationship to help me grow but also give back myself.

Hi,

I'm with a small group of investors that currently own 23 doors spread across 10 Multi-family units. We have been expanding in the areas around Cleveland in the last year and we have observed goo return on our stabilized inventory, so we are looking to keep expanding.

Our biggest pain point to keep scaling has been financing; we have deploy a variety of financing options (personal mortgage, commercial finance, cash and refinance, etc.) but the process has been generally slow. We have particularly struggled to find bridge lenders and commercial lenders for multifamily.

I thought it might be a good idea to bring this up to the forum to see if any of y'all lovely people might have an idea/network that could help.

Thanks in advance :)