All Forum Posts by: James G.

@Crystal Smith

In Cleveland I can buy a decent Sfh for around 80k- 100k and a decent duplex for around 100-120k. I can put 25% down for either. I'm looking for value add properties where I can do something to raise the rent a bit and force appreciation slightly. I would have more wiggle room with a sfh because the costs are cheaper but I am mainly concerned about cashflow and scaling. I want to buy 1 or 2 a year and I feel that's easier done with SFHs if I can get longer term tenants who are not causing problems. Ideally I would love 10 duplexes with no issues but I feel (not logical, I know) that duplexes bring lower quality tenants who are more short term. I'm very new to this and trying to make the most reasonable approach so I can grow my money into a large REI portfolio.

@Ben Smalley

https://truesubmeter.com/#description

I was thinking solutions like this which have been mentioned before online here. I would always want my tenants paying the water.

@Chad McLeod

Thanks for your input. Parma was a big area I was focused on because of all the praise it gets. Very surprised to hear you had issues there. If I can snag a duplex for around 100k I would be interested.

@John Koster

This was exactly my thoughts. The type of people who rent a sfh home I thought would be more family oriented and looking to stay long term. Cashflow is best with long term residents since most PM require a month of rent, 10% a month, additional fees. The type of people renting in a B class neighborhood on a single family home could be better for my portfolio overall. Or at least allieviate concerns at the start.

@Ben Smalley

Can't I submeter the water and then bill each tenant directly?

Why shouldn't I buy a duplex as a first time investor in Cleveland vs a Single family home? Assuming getting pre-approved and cash for the down payment isn't an issue what are the reasons to avoid a duplex?

I assume it's just risk tolerance due to having 2 of everything and possibly more repairs? I just see a duplex as safer because you are less likely to have both sides vacant and will always have someone contributing to the mortgage. I'm trying to iron down my target for the next 90 days and figure out the best path to start down to building financial freedom. As far as scaling goes, on paper a duplex would be faster because of the cashflow. What am I not considering ?

@John Koster

Do you bill your tenant for the water and sewer and if so how? Does your property management pay it on your behalf out of an account and then just send the tenant the bill?

@Vincent Macauda

What is the name of your property management company with such low vacancy rates?

@Tyrone Osilesi

We're you able to find anyone? I'm in Maryland looking to invest in Cleveland and will need to find a trustworthy property management company.

@Matthew Lupica

I hear people talking about POS on here a lot. What is it? Just city codes that have to be followed or you get fined?