All Forum Posts by: Mohit Asthana

i think it's a good book to get started and in terms of concepts, but in terms of practicality, absolutely not. 

I don't listen to Kiyosaki's advice since a lot of it has been ******** in hte last 10-15 years. 

Make sure you understand Cleveland regulations and WHERE in cleveland you're buying. It's a very street by street town. 

Just because something looks good on paper doesn't mean it'll be a great investment in real life. 

Underwrite property tax increases every year - TX is known for this. 

What is your exit strategy? What is your strategy? Value-add, buy and hold?

Depends on the sponsor and their track records. A lot of new sponsors have come out recently so do your due diligence. 

I'm more of an active investor as my family lost several hundred thousand dollars via a sketchy sponsor who was found embezzling money. 

Probably a lot more tire-kickers and buyers want to make sure someone can close. 

There are some wholesalers that I know that are shifting to commercial. 

 I love Cleveland, but investors shouldn't forget about capex too! Lot of sketchy parts around Cleveland as well and everything is "street by street" 

Underwrite new property taxes and insurance when going out of state. Make sure you call the police (non-emergency hotline) to understand what the safety of the neighborhood is. 

Parts of Cleveland also have high taxes and LEAD certification stuff. 

Columbus is a great option as well, but it all depends on your price range. 

Congrats on the condo and having a good income! 

I can shed some light on out of state investing. I own 37 units in Cleveland metro right now and I'm from out of state (CA/NY) and have bought 45. Mostly C/C- areas and some D (wouldn't recommend). 

You gotta ask yourself how much work you want to do and how hands on you want to be. With 37 units, I'm not exactly "passive" but it's a business at the end of the day. 

Happy to answer more in depth. 

I'm an OOS investor that invests in Cleveland - 37 doors right now. Everything is street by street so understand the neighborhood. I owned an 8 unit in a D area after thinking it was a C-... I was completely wrong about it. 

There are good and bad pockets. Cash flow is great. Taxes are high, but offset by the high rent to price ratio, even in this environment. 

Check out some of the suburbs - west side has nice suburbs as some of the "Heights". Watch out for Point of Sale if you're going to be investing in the Heights. 

you can do really well in Cleveland, but need the right team. Don't expect appreciation but cash flow is great. Set aside budget for some capex or do it all upfront. You're buying older buildings that may need some work. 

Avoid Mt Pleasant if you can. I bought an 8 unit there and had a terrible experience. Lots of crime, extra expenses from bed bugs and pest control. 

Slavic village is good, I am a fan of it. 

Lorain county is also a good bet if you're open to it. It's a little west but good cash flows. I currently own 14 units in Lorain.