All Forum Posts by: Pete Krusinski

When thinking about selling or holding a property, ask yourself a few things: How much do you need to invest? What can you rent it for? What's the cash flow look like with your current mortgage? Do you think the area will increase in value? On the flip side, what could you sell it for right now, and how much cash would you walk away with?

Answer these, and then see if there's a better deal out there that fits your investment goals better—like more equity, better cash flow, or more potential for growth. If you find something better, it might be time to sell. If not, holding onto it could be smarter.

It defiantly depends on what area you're looking into. If you're looking for a Single Family (1/1) in a B class area $125k-$145K. Rent $1,200-$1,400. Multifamily B class area 2x 2/1. $220K-$240K $2,000-$2,400 gross rent. Thats what I've seen in some of the recent deals I've done and recent properties that have sold

Welcome to real estate investing! It looks like you're taking the right steps by identifying a promising market. As someone born and raised in Cleveland, I've witnessed the tremendous growth in Northeast Ohio firsthand. Given your criteria, Cleveland presents an excellent opportunity. You can find fantastic properties that fit various investment strategies, whether it’s securing a multifamily property that offers attractive cash flow or opting for areas with significant appreciation potential. In neighborhoods on the West like Old Brooklyn, Clark Fulton, and West Boulevard, I have seen properties yielding 10% and higher cash-on-cash returns. On the east side, places like University Heights, South Euclid, and Shaker Heights are B-class areas where I recently facilitated a deal yielding a 9% return and that property will see solid appreciation. While I could elaborate on numerous other areas, these highlights should give you a good starting point for your investment journey in Cleveland. If you have any questions feel free to reach out!

Hi Guenevere, 

With a budget of $23,000, it seems like multifamily might be off the table for now. It's possible to consider a single-family investment, but even then, it would be quite tight accounting for the down payment, closing costs, insurance, etc. I'd recommend holding off until you've built up more funds. It's important not to strech yourself too thin financially, especially with your first investment. I don't want to be discourage you; I just want to ensure you're in the best position to succeed when you do make that leap.

Hi Elisha, 

Excited to hear you getting into real estate right out of college. Cleveland is a great place to start. Given your budget you can definitely find a great property in a C class neighborhood, whether you're looking for a turnkey property or something that needs light cosmetic work, your buy box offers a great possibility to find a solid first investment.

Hi Pooja,

I'm a Cleveland native and have personally invested in the area with about 10 units between my business partners and myself and always on the hunt for more. Over the years, neighborhoods in Cleveland have seen various levels of fluctuation, but there are certainly consistent areas on both the East and West sides of Cleveland. Neighborhoods like University Heights, Shaker Heights, parts of South Euclid, and Cleveland Heights on the East side are beautiful B-class areas known for good cash flow and consistent appreciation. While Lakewood, Ohio City, and Tremont on the West side are excellent for appreciation, but sometimes aren't the best for investor who are looking or strictly cash flow. I've helped out of state and instate investor buy properties throughout Cleveland, so I have a comprehensive understanding of each neighborhood’s potential. These are just a few areas to consider, but there are many other pockets in Cleveland that offer a great mix of cash flow and appreciation. If you're looking for more detailed guidance, I can provide a graded area map, or feel free to contact me directly. I’m always happy to assist!