All Forum Posts by: Michael Swan

Right now in NE Euclid, OH and Lake County, OH, I presently have ZERO vacancies out of 120 front doors.  Knock on wood!!  I am pushing 2br 1bath units to $750.00 for about 900sf, plus $25.00 pet rent, per pet, two pets max.

Those are on 8 apartment complexes total. I also have an LOI out for a 60 unit and a 24 unit in Lake County too. The last 34 unit deal I had was at about $33,000 a door in a solid blue collar hard working neighborhood in Lake County, Ohio. Very difficult to find deals in these areas I invest for Apartment complexes. If you want 1-4 units in these areas, I would get about 8 residential agents with offices in NE Euclid and Lake County to find you these deals, before they get listed on the MLS. Back in 2014-2015 they were all foreclosures, bank owned, short sales etc.. that has all but dried up out there. You need to hustle to find them, before other investors scoop them up.

I leave Mon, Tues, and Fridays available to talk and advise BP members on the phone and just to talk RE from 3;15-6:15 PST.  I live in San Diego.  Listen to podcast 238 and then reach out to me. 

Take care,

Swanny

Sorry. Swanny is out of town Oct 19th.

Have fun!!

hi @Miguel Nava

Feel free to reach out to me.  I leave time on most afternoons to talk with BP members on the phone.

Take care,

Swanny

I prefer presently NE Euclid, NE of the brand spanking new Fulfillment Center and Lake County.  You can get a 1/2 duplex for $40,000-$45,000 that rents for $775-$825.00.  This is a no brainer, strong C class good working class blue collar area and then just keep going east.  Lake County is a strong C+ area that I would highly recommend too.  Go as far east as Painesville in Lake county.  Some other areas of Cleveland are really hyped and don't command these rents.  I have 82 front doors in Lake County and rising!!  I have on 12 unit in NE Euclid too.  Lake County, Ohio is extremely landlord friendly etc...  Also, I have seen 50% appreciation in the last 3-4 years too in these areas for Single Family, condos, townhomes, and duplexes too.  They are getting hard to find and you have to move quickly now.  Plus , this area has been seeing more manufacturing jobs and machining type jobs too, besides the brand new Amazon Fulfillment center opening early in 2019.

That's just my 2 cents.  Take it or leave it.

Swanny

Hi all,

I noticed I was mentioned here.  Feel free to reach out to me anytime.  I have 8 apartment complexes, for a total of 122 front doors, primarily in Lake county (82 front doors) NE Euclid (NE of the new Amazon 16 front doors), and Akron (24 front doors).  I always leave Mon, Tues, Thurs, and Fri 3:15-6:15 to talk on the phone to BP members.  I am only an investor there since 2014 and am not a broker and am not trying to sell you anything.  I will just give you my opinion based on what I have experienced in these C class blue collar neighborhoods.

By the way, I live in San Diego.  That would be Pacific Standard Time.  Listen to podcast 238 first and that way you will know where I am coming from.  Brandon Turner and Scott Trench featured me about a year ago.

Swanny

Hi @Brad Penley

It was in August of 2017 when it originally aired.

Swanny

@Allyson Edwards

Way to go!!  Reach out to me anytime and leave a message in my inbox if you want to talk.

Swanny

Another thing, people told me I would see NO appreciation in the Midwest and I just sold all my single family in Euclid Ohio that I first purchased for about $25,000 average a door back in 2014-2015 for $45,000, $45,000, $47,000, and $47500.  That is almost 100% appreciation in 3-4 years time.  These things rent for $775-$825.00 a month.  In a solid C class neighborhood.

Lots of Fake news out here saying that you don't get appreciation.  Jobs are coming back in droves, new Amazon fulfillment center, machining, manufacturing, etc..  not fast food minimum wage jobs.  Thank you Donald Trump!!!

Stay East of the New Amazon fulfillment center in NE Euclid and Lake County and you can't go wrong.  If you go west of the new Amazon fulfillment center in Euclid, you move to a D class area of Euclid, closer to Collinwood.  Feel free to contact me to discuss this area etc...

Swanny

Hi @Jay Hinrichs,

That sounds like a real strong company!! I am big enough now that I have attracted the big PM companies and I am sooooooooo happy they have repositioned so many value plays In the last 25 years.   The big guys want economies of scale too.  It is difficult to get a go getter PM for $90-$125.00 a month.  How hard will any of us work for $90-$125 a month.  One hour?  Maybe one hour and 30 minutes.  

Swanny