All Forum Posts by: Sergio Picciuto

If you stay north of Lakeshore the ratio of tenant vs owner occ falls dramatically.  Amazon is coming and that is a great thing.   I have tenant occupied colonial 3rd lot in from the Lake.   When I bought it and rehabbed it every neighbor came up to ma and asked if I was selling it or renting it?  They did NOT want a renter.  They love our tenants!  The secret to success is 'where' you're buying.

Rob,

We are concentrated in Tremont and Detroit Shoreway areas.  Amazon is going to Euclid.  may be a good place to pick up properties.  PM for more info

One word......”sunshine”.   Actually 3:   “Lack of sunshine”

It depends on what neighborhoods you're in..  We have 20 rentals the majority in Tremont and Detroit Shoreway areas.  We are having no challenges with rents or renters.  Also bare in mind that 98% of your success lies in proper tenant vetting....

Welcome to Cleveland!

Sure 

They've bought from me.  They're good guys.

generally handle tenant screening and maintenance.  Your best bet is to hire an independent inspector to assess the property conditions 

When taxes go up your NET income goes down thereby affecting you % of return ROI=NOI/PP. NOI is net operating income. PP is purchase price. Taxes are in your NOI. Gross Income - debt service. (Mortgage, property taxes, management fees, defferred maintenance etc)

depending on the condition and age of the property when you buy it, I generally allow for a 12-15% of the GRI for my differed maintainence account. If I know I will be needing to replace a roof or replace windows of a interior update I will bump it to 30% if I can't negotiate it up front on the buy.