All Forum Posts by: Patrick Drury

@Kendra Mattson
If you are looking in the Cleveland, Oh market I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

@Cody Miracle
If you are in the military, I would try to use your VA loan to buy something local

@Sam Sigholz
That wouldn't be feasible with a student rental if managed correctly. You should have zero to no vacancy, meaning you wouldn't be able to use it during the summer because the leases should be 12 months, regardless if the tenant stays there for all 12 months, they will still be responsible for paying it. If you want something that can be used as a second home, I would just opt for the STR strategy in a great location vs student housing. At least as an STR it would be furnished if you wanted to stay there for some period of time during the summer and you can just block it off from guests being able to book it. Not sure how enjoyable a vacant student rental with no furniture would be (assuming you were able to use it)

@Ouattara Kigninma
I would start going to meetups to network with local investors, contractors, lenders, and other vendors that can help you in real estate. I prefer to invest in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection, like the East side, which is really annoying 

@Alev G.
I would probably first look at landlord-tenant laws in that area. Then look at job opportunities and population growth

@Jeff Pavlik
Leasing is a bit slower in the winter months because there is a bunch of snow and ice on the roads. Summer time is more ideal, but I wouldn't hold off on buying because of that. If you have an opportunity in front of you where the numbers work, I would jump on it. 

@Esei Igbinedion
If there are water marks in the attic, check with the seller and see if they replaced the sheeting. Maybe they didn't replace the OSB so it's possible it's a previous leak prior to them fixing it. Also, we have no photos so it's very possible as well that the roof just wasn't replaced. Hard to say without looking at it or having an inspection report 

@Dean Gustafson
It depends on what you are personally looking for. If you are looking to grow your portfolio, then buy another one, but if you are struggling to manage the amount you currently have and want more time, maybe paying off debt is a better idea because you can maintin the same amount of rentals but increase the output from them. It just depends on where you are at in life and what you want to get from investing. 

@Chaim Mal
Keep in mind that most real estate in the Midwest and more specifically, Cleveland Ohio, is older. A majority of it was built between 1900 and 1940. In terms of other areas to check out I would recommend looking in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

@Andrew Lee
You won't find positive cash flow in any of the areas you mentioned. If you want cash flow look at Hilltop, Linden, Franklinton, Whitehall, and Eastmoor.