All Forum Posts by: Federico Gutierrez

@Charles A. before you bought in Cleveland, DID you consult someone in the Market? 

Were you represented by a buyers agent? What did they say about the area. 

It sounds like you went at it on your own and didn't consult a market expert. This could be also a lesson for the average joe who reads a few books and thinks they are smarter than the people on the ground who are their to give guidance.

The property taxes are going to kill your cashflow for the first months of the investment stage.

And the POS you will need additional reserves to put into escrow should your investment not be POS compliant

You get what you pay for. You thinking a $30000 unit is going to bring an A class tenant?

No secret sauce in RE. It's always a risk v reward. Numbers look great when lot of risk is involved

Most properties are negatively geared in Australia. Cash flow in Australia is slim to none especially in capital cities like Sydney, Melbourne and Brisbane.

Welcome to Biggerpockets.

Look at the Cleveland Neighborhood Map, it's a good guide for new investors. Another good post is Cleveland Area Tax Rates

Pay an experienced Realtor for their time to do all the research...

Keep in mind, that Chicago has one of the worst Landlord Tenant rules. So that $500/month could get eaten very quickly when it takes 6months to evict someone. 

Welcome to Biggerpockets.

Look at the Cleveland Neighborhood Map, it's a good guide for new investors.

Welcome to Biggerpockets.

Look at the Cleveland Neighborhood Map, it's a good guide for new investors.

It's night and day difference. You need to figure out where you want to invest and then dive deep into research mode. Don't just buy because the numbers look good. Talk to people that invest in that market. Even consider making a trip to the choose market.