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All Forum Posts by: Marc Rice

Marc Rice has started 3 posts and replied 1737 times.

Post: Looking for good neighborhood for medium term rentals in CLeveland

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Urvesh Patel:

Hello

I am new to Cleveland and I am thinking to diversify my real estate portfolio by testing out medium term strategy for the travel nurses in Cleveland around Cleveland Clinic. Any recommendations on areas to avoid or be careful given high crime rates around Downtown and East Cleveland? Any contacts in setting a good team of contractors (general purpose) and cleaners?


 Fairfax by Cleveland Clinic is very street by street. 87-103rd street is pretty nice, 79-86th is pretty rough. I'm happy to share a more detailed map over if you'd like of Cleveland. 

Post: ISO 10+ residential units

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Veronique Leroy:

Hi BP Community, 

As one of my 2025 resolutions, I would like to acquire 100 doors this year. We primarily focus on residential multi-family and so far we have stayed in the Western Mass area. Now I'm looking to expand to other states. Can you please share any information on properties or markets where you are that can help guide my search? I'm open to properties were cap rate is around 10%+ and Return on Cash is 10%-20%. 

Any suggestions?


 Congrats on the success! You should look at very cheap cost-per-a-door markets like Cleveland and Dayton where you can find stuff $40-60k/door.

Post: Looking for due diligence service in Cleveland

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Ofir R.:

I'm interested in buying a specific piece of land in Ohio. I'm currently abroad, and look for someone who can, for a fee, perfom all due dilifgence for me - call the city building departments, find out about any restrictions. I'm not sure if it's a civil engineer, land acquisition planner... Area is Maple Heights. 


 You would need to hire a zoning attorney, an agent will not be able to do this.

Post: Real Estate Agent Interviewing Questions - For Investors

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Justin Joy:

Hello all! I'm new to BiggerPockets and I'm a new investor. I'm currently trying to build my list of interview questions that I would/could use when it comes to screening and finding the right Real Estate Agent. I already have a few questions on my list and I was wondering if any investors have any interesting questions or strategies of how they may find a great agent. Thank you for your time and patience!

Here's a good starting point: https://www.biggerpockets.com/blog/what-to-ask-a-real-estate...

Post: Best Pockets in Ohio for Section 8

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Danielle B.:

Considering the following cities in OH to invest in Section 8 Housing:

  • - Akron
  • - Dayton
  • - Toledo
  • - Youngstown
  • - Canton

For those of you with experience here, can you share the average cost for a single-family house (3 bedrooms +) and the net profit per property per month for Section 8?

Looking for properties under 100k where the net profit per property per month is at least $500. 


I like Dayton a lot, and would recommend parts of Cleveland too. You can find sub $100k SFR in these markets with rents close to $1000-1300/mo.

Post: Looking for Property Manager in Columbus OH

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Kay W.:

Hi All, I'm looking for a property manager for a duplex near downtown Columbus, Ohio.  Anyone have any recommendations?  Thanks in advance for all your help!


 I can PM you a list of top management companies.

Post: Rookie looking for first deal out of state in Midwest

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Alyssa Abegg-Garcia:

Hello! My name is Alyssa and I'm new to real estate investing. My husband and I are interested in growing our wealth to make work optional w/in 5-10 years.  We are targeting buying our first property this year, ideally a duplex/triplex/quadplex for a long term rental. I currently live in Olympia, WA (high cost of living, and not very landlord friendly state), so plan to invest out of state. At this time I'm focusing on researching markets in the midwest (Indianapolis, IN; OH) due to the lower property costs. I'm looking for something that's at least cash flow neutral and will appreciate. I'd love to connect with others who are investing in these markets, as well as agents, property managers and investor-friendly lenders. I'm happy to provide insights on western Washington, as we have lived in Seattle, Tacoma, and now Olympia. 

Looking forward to connecting!


 Awesome, I love Olympic NP! Ohio is a great market (Columbus, Cleveland, Dayton) to invest in. Overall Cleveland and Dayton are higher cash flow and lower appreciation whereas Columbus is higher appreciation but really hard to cash flow. 

In Columbus, C class properties will barely cash flow $0-100 per a door at 7% interest rates. B class properties usually are -$150-0/mo but low headaches and stable appreciation.

I like Ohio's 7th largest GDP and growing cities though.

Post: Where is everyone moving to?

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Justin Brin:

I created a heat map showing the population changes in each state over the past five years (2020–2024).

The states experiencing the largest population increases are Florida, Texas, Utah, Arizona, and South Carolina. On the other hand, the states with the most significant population declines are New York, Illinois, and California.

For Real Estate investors. How do you think these trends will affect them in the states with declining populations? Should they be concern?

And how might they impact the investors in states experiencing substantial growth?


 It's interesting, but every state has dozens (if not 100s) of "submarkets" that can tell a different micro story.

Post: Out-Of-State Investing Summit

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795

Awesome, would love to get involved for the next one helping people to invest in Columbus, Cleveland, and Dayton Ohio.

Post: Is Dayton Ohio a good city to invest in real estate?

Marc Rice
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,802
  • Votes 1,795
Quote from @Todd Boone:

If it is, what kind of investment?


 Every market can be invested in successfully. In Dayton, I find most of my clients like A/B class 1-4 units because they can actually cash flow AND be in great areas. Some clients who are more aggressive will invest in B-/C+/C class areas in Dayton 1-4 units and get A LOT of cash flow, but incur risks of evictions, expensive turnover renovations, and general C class neighborhood headaches.

What are you looking to achieve?