All Forum Posts by: David Terbeek

Re/Max Haven Realty Property Management

Cleveland’s premiere Property Management company and customizable Turnkey Provider.  How do we stack up?  According to Google:

Re/Max Haven Realty 4.4

Competitor 1      1.3

Competitor 2      2.4

Competitor 3      3.7

Competitor 4      2.1

Competitor 5      1.3

*Google Review score as of 4/17/17

Sales--Rehab--Management

Contact David Terbeek, 216-926-2900 or via Bigger Pockets for a free quote.

@Henry LiChi  Welcome to the Cleveland market.  It is good to see that you have done thorough budgeting, including for capex.  $30k seems like an agressive price, I think you will find value in your trip to visit the area.  That is not to say that you can't make a good return with it, just beware of the potential of more frequent turnover and more involved suite preps after each tenant.  Feel free to look me up when you come, always like to meet fellow BP members.

@Dom Jones Cleveland suburbs offer a lot of opportunites for very strong rent for around or under $100k in solid areas. Cap rates in the low teens, COC return much higher.

Re/Max Haven Realty Property Management

Cleveland’s premiere Property Management company and customizable Turnkey provider.  Experience the difference:

-Initial lease up including showing and vigorous screening (including eviction check)

-Aggressive rent collection

-Distributions on the 13th via Direct Deposit (aka ACH or EFT)

-Timely, accurate and detailed monthly statements

-24x7 access to an online portal to monitor your property

-Coordinate repairs & maintenance – enjoy pre-negotiated rates with local vendors

-Regular property visits

-Competitive rates

-Excellent communication and lightning quick response time

Contact David Terbeek, 216-926-2900 or via Bigger Pockets for a free quote.

@Tom Ott  Good point, I forgot about those two but you are right.

@Val Dantzler  Welcome to BP.  Cleveland Heights, University Heights and Lakewood are all possible areas for your criteria.  Happy investing.

I would check with Lieberman, Dvorin and Dowd.  David Dvorin is who I use.  PM me for contact info.

Echoing the come, drive/walk around.  Each street can be very different, one populated by doctors and administrators, the next street could have 20% boarded houses.  Mostly the streets and areas that have changed so far have been tear down and rebuild as opposed to rehabilitating the older houses.   I am a lifelong Clevelander, very active in real estate and I would need to go down and walk/drive the streets to know where to buy and not buy - you need to be that precise in that area.

Cleveland is a low cost area, we only have moderate traffic, have the Rock Hall, a world class medical facility in the Cleveland Clinic, World Series contending Indians, Champion Cavaliers and plenty more.  As a lifelong Clevelander, my biggest complaint is the winter but if you can survive that, not too bad.  And for investing, it is a no brainer!

We charge 1 month rent.  The electronic lockboxes are a relatively new concept.  We tried it but the adoption by our tenants wasn't good - they didn't understand, didn't want to give (or didn't have) a credit card number, etc.  However, we mostly work in blue collar neighborhoods.  It might work very well if this is a higher end rental.