All Forum Posts by: Jim Cran

@Igor T. Thanks Igor. I’m going to the City tomorrow and will research this house to see what’s on record. It was built in 1955 so I imagine there would be some info available.

Good idea, thanks Jad. I will do that.

I've searched the forums but haven't found much on this topic. Anyone have any recommendations for an architect on the west side of Cleveland? I already have the engineer's report but need an architect to draw up his recommendations toward raising the existing ceiling of a flip house about 2 ft. Currently, the ceiling is a bit under 8 ft and I plan to raise it to about 10.5 ft. I will be submitting the engineer's report and architectural drawing to the City for approval. Thanks in advance for your recommendations!

 Excellent info, thanks Don, much appreciated!

@James Wise So are you saying 6-9 months is accurate?

I heard it takes 6-9 months for the Cleveland Department of Building and Housing (DBH) to complete a new construction plan review. That seems terribly long, in my experience (commercial renovation only), a city typically has 45 days to review. Has anyone dealt with the CLE DBH on new construction of a SFH? I'm considering tearing down an existing SFH and building a new one on the same site. I need to time it so I'm not starting in the middle of Winter.

Thanks for all the great replies everyone. One more question: how do find your properties? I've been searching on loopnet.com but residential properties are slim pickings.

 Hey Daryl/fellow Clevelandar! Where did you buy? What did you get? How did you find it? What kind of CF are you getting?  

 Thanks for the reply, Andrew. I just assumed 20% down, 30 year loans were the norm in commercial too. Silly rabbit. Glad I asked. I'll continue reading and educating myself until my comfort level reaches a "pull-the-trigger point." 

 I like the idea of 10-20 units. Not too big but big enough to get a decent taste of commercial residential property. As far as "do it on my own," I mean I'm not interested in getting involved in an investment group. Maybe that's my current level of ignorance talking but that's what I mean. My goal, like most, is to continue to build cash flow toward financial independence so I can leave the corporate world. My day job is good but I'd rather work for me.