All Forum Posts by: Vadim F.

 If you are looking for cash flow, that will be hard to accomplish in B neighborhoods, may be possible in C. I mention South Collingwood because it has really nice pockets and you will achieve cash flow in that area. In regards to having problems, those will be in all areas not just lower grade. Get a good property manager in place. That will either make you or break you.

 Last I have checked prices are pretty high in North Collinwood. Why not look into South Collinwood instead where prices are lower but rents are the same and has nice pockets?

You can go into a D class neighborhood, be on a great block/pocket, and achieve great cash flow.

 Can I ask you why are you only looking into B and C areas in Cleveland? Cleveland is very block by block so I would recommend working with locals who know the areas inside and out. 

Also, what are you trying to achieve with your investment? Is it appreciation or is it cash flow? Unfortunately you can't achieve both in Cleveland since the areas that have gentrified already have gone up extensively in price so you will be hoping for future appreciation and won't be cash flowing.  

Look at it from a perspective of even if your tenant is sec8, majority of the time they still have to pay 30% of the rent. On $1550mo that is almost $500mo plus utilites. Take into consideration that that Cleveland is one of the poorer areas in the country, a $100mo difference can be huge. So you as an owner, would you be willing to ask for less to have your property rented quicker and "lose" the extra $1200 or so per year or would you rather lose that $1200 per month because your property is sitting vacant.

In regards to demand, Cleveland is one of the top Sec8 markets out there.

 @Stefano Grottoli all the $1550 means with CMHA is they will pay up to that amount within Cleveland city limits. A 3br home on the east side will be less per month vs a home on the west side. 

 First find a property and have a PM. Afterwards focus on the rest. Why do you think you need a real estate attorney?

 PM and contractor is all you need. A PM will either make you or break you.

 What does your team consist of? They should be the ones helping you with the potential cost of repairs.

@Amir B. finding a cash paying tenant in Lee-Miles can be difficult for that price. Why aren't you doing Sec 8? I am sure that you would easily find a Sec 8 tenant.