All Forum Posts by: Ian Kurela

Hi Nick,

That's a super interesting question. I have never dabbled in mobile home parks but I know that @Brandon Turner just bought on in Ohio if I am not mistaken. Perhaps he can be of some assistance. Out of curiosity, what area of Ohio were you looking at? 

Are you looking more for cashflow or appreciation? The more you lean into appreciation, the more location will play a factor into your decisions.

Hi Rick,

Yeah Lakewood has a great amount of multifamily properties to offer. Have you worked with MF before? I have no personal experience with renting but I suspect is may be an issue filling the property as the supply of multifamily homes in Lakewood is fairly large.

Hey George, welcome to BP. All 3 of the areas you mentioned have awesome potential. I would focus on Cleveland Heights and Lakewood. I have found that Parma can be a bit lower class of a neighborhood than the other two. Though if that fits your plan, go for it!

Hi everyone,

Curious to know if anyone has had experience with AirBnB in the Charlotte Area? It seems like the city has been having AWESOME popularity. Is it a good area for rentals like AirBnB? Or am I better off looking for longer term tenants? Thanks everyone,

I agree. Clark-Fulton has some great cash flow opportunities, but as you said, is defiantly risky for more reasons than one. I agree with James. It should not be one of your first investments. Having said that, it could be a useful tool in your toolbox once the portfolio grows large enough. Best of luck!

I agree with @Matt K. Most of the area that the distribution center (Warrensville) is a solid C range. I don't believe that one new company will make much of a difference. Though I do think that short-term leasing may see an impressive upswing in the area 

Really terrible to hear. Especially hearing that the property was just one city away from my home. I think it may all come down to the paperwork and liability within AirBNB. I also think that the business will compensate above and beyond whatever the legal terms extend. Simply to keep a good position in the public eye. A few thousand dollars is nothing compared to the potential revenue that may be disrupted as nervous Hosts retract their properties due to this incident. 

Only time will tell! (and the lawyers)

Welcome Dujuan! Can you go into a bit more depth on exactly what you are looking for? I specifically work in Cleveland but there are plenty of members in all corners of Ohio

Hi Jaime,

20k should be enough to get you guys started in multifamily in Ohio. You may have to be a bit creative with financing depending on how far into the B-range you are looking at.

Concerning your target areas: Tremont is already BOOMING. Prices are astronomical and finding a decent Multifamily under 150k is rare. I would range Tremont in the B+ to A- area.

Gordon Square I am less familiar with. But can tell you that prices have also been rising in that area as long as you stay North of Lorain Avenue.

Clark/Fulton is more of a risky bet. You can absolutely find properties that are well within your budget with great cash flow. The neighborhood, I believe, is well below B- with little signs of improvement. Though it is situated between Ohio City and the Arts District, so I can imagine it may come alive in the near future.

Let me know if I can be of any assistance!

Ian