All Forum Posts by: Michael Ohara

I think all areas of Cleveland will cash flow.  Since you're OOS I would say Euclid is a good areas.  Shaker Heights, Lakewood, Parma, 44135 are good areas too.  If you have a good team on the ground you get into "riskier" areas for OOS investors, and as they say, the higher the risk, the higher the reward.  Take a look at turnkey properties too. All the best. 🤙🏽

A lot of OOS investors like 44107, 44109, 44113, 44135, Parma, Shaker Heights...good, solid neighborhoods.  My team and I are working on 44110 and 44105.  All the best. 🤙🏽

Yes, the BP calculators are a great starting point. Ultimately, great returns depend on your goals. A great return for one may be way too low for another.  A general rule is the 1% rule for rentals and 25-30% spread on flips.  All the best! 🤙🏽

@Santiago Coppoletta sent you a message. 🤙🏽

Welcome @Marcus Pugh  Cleveland is a great market.  Turnkey might be the way to go for your first one. Finding a good property manager is key, and your PM will connect you with contractors, lawyers, cleaners, etc.  Good idea to fly out. Find a hungry agent who will take a day and drive you around to the different neighborhoods. All the best. 🤙🏽

Hi @Yaamu Camara, I think buy the one property and then hold onto your cash for the next deal. I agree with Erik that leverage is key.  If you buy a distressed property with leverage, you'll maintain your reserves for the inevitable 'event' that will require your cash.  All the best. 🤙🏽

I like Rentometer. Just make sure the distance of the comps from the subject property isn't too far away.  🤙🏽

@Marquis Campbell for sure!

 Short answer: yes, it's worth it. 😀There always the nightmare tenant story and I don't know any rental investor who hasn't had one.  Go in with eyes wide open, run the numbers, have some cash reserves, build an on-ground team, and take the leap. All the best. 🤙🏽

Hey @Yaamu Camara, Cleveland is a great place to invest. As Daniel said (and you know), be careful of the area, it can change from street to street (like most cities). All the best. 🤙🏽