Looking for general contractor and property management referrals in Cleveland

[Catherine Ding]

Question in the title! I'm OOS so looking for reliable contractors/property managers that will service 44102. 

So far I've talked to JAMM Property Management (anyone use them before?) but no general contractor contacts yet. Thanks!

[Nicholas L.]

@Catherine Ding

are you able to make a trip or several trips there in person? that would allow you to go to REIA meetings, meet agents and property managers, look at properties in person, and get referrals. what you want is a referral from someone who is on the ground there.

i wish you success, but there so many threads in the forums from folks in CA who tried to do everything online... and it didn't work out.

@Bob Stevens

thoughts on 44102?

[Bob Stevens]

Quote from @Nicholas L.:

@Catherine Ding

are you able to make a trip or several trips there in person? that would allow you to go to REIA meetings, meet agents and property managers, look at properties in person, and get referrals. what you want is a referral from someone who is on the ground there.

i wish you success, but there so many threads in the forums from folks in CA who tried to do everything online... and it didn't work out.

@Bob Stevens

thoughts on 44102?

 Didn't work out because" everybody knows better" They think sitting online asking questions will get it done, NOPE kiss your money goodby, (NOT everyone) 

44102, WE buy EVERYWHERE, even East Cleveland. See its questions like this that drive me nuts!! You're sitting online looking at zips, 100%, meaningless. Its ALL about knowledge and your team

All the best 

[Michael Smythe]

@Catherine Ding

Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.

Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

To avoid going through the same poor experience, keep reading.

Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.

In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.

It's often a case of not doing enough research, as they don't know what they don't know!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

[Catherine Ding]

@Nicholas L. @Bob Stevens Thank you for taking the time to respond. My husband has family in Cleveland but they are not investors. We normally go once a year during Thanksgiving but I will probably not be able to make any trips in the near future as we are expecting our first baby soon. I also know of other investors who do invest OOS including Columbus/Cleveland with success and have asked them for referrals. I thought it wouldn't hurt to ask here as well. I specifically asked about 44102 because the property I'm under contract on is in this zip code -- not sitting here "looking at zip codes" online lol. I don't know why you both immediately assume the worst of my commitment to investing OOS by asking for some referrals online. I am aware more due diligence is needed being OOS and am prepared to do so, and I am also not chasing cashflow in bad areas. 

[Nicholas L.]

@Catherine Ding

i'm definitely not assuming anything about your commitment - I promise I am trying to help you. Bob is an expert investor in Cleveland, which is why I tried to summon him - I was curious on his opinion on that zip code. I invest in Pittsburgh, which is similar in some ways, but I don't know Cleveland neighborhoods or zips. My recommendation was to go to REIA meetings in person in Cleveland and ask for referrals there. If I had a contractor referral myself I'd give it to you.

[Bob Stevens]

Quote from @Catherine Ding:

@Nicholas L. @Bob Stevens Thank you for taking the time to respond. My husband has family in Cleveland but they are not investors. We normally go once a year during Thanksgiving but I will probably not be able to make any trips in the near future as we are expecting our first baby soon. I also know of other investors who do invest OOS including Columbus/Cleveland with success and have asked them for referrals. I thought it wouldn't hurt to ask here as well. I specifically asked about 44102 because the property I'm under contract on is in this zip code -- not sitting here "looking at zip codes" online lol. I don't know why you both immediately assume the worst of my commitment to investing OOS by asking for some referrals online. I am aware more due diligence is needed being OOS and am prepared to do so, and I am also not chasing cashflow in bad areas. 

 ALL areas cash flow, some will be 8% others 14% net. Mine are never less then 15% most 20. When and if you close feel free to reach out, I can help. Also, if you like send me the address and ask. I will let you know if a good deal or not. I see so many overpaying. 

All the best 

[James Wise]

Quote from @Catherine Ding:

@Nicholas L. @Bob Stevens Thank you for taking the time to respond. My husband has family in Cleveland but they are not investors. We normally go once a year during Thanksgiving but I will probably not be able to make any trips in the near future as we are expecting our first baby soon. I also know of other investors who do invest OOS including Columbus/Cleveland with success and have asked them for referrals. I thought it wouldn't hurt to ask here as well. I specifically asked about 44102 because the property I'm under contract on is in this zip code -- not sitting here "looking at zip codes" online lol. I don't know why you both immediately assume the worst of my commitment to investing OOS by asking for some referrals online. I am aware more due diligence is needed being OOS and am prepared to do so, and I am also not chasing cashflow in bad areas. 

 After going through the comments here, I think you'll get a lot of value in reading The Ultimate Guide to Grading Cleveland Neighborhoods.

[Bob Stevens]

Quote from @Nicholas L.:

@Catherine Ding

are you able to make a trip or several trips there in person? that would allow you to go to REIA meetings, meet agents and property managers, look at properties in person, and get referrals. what you want is a referral from someone who is on the ground there.

i wish you success, but there so many threads in the forums from folks in CA who tried to do everything online... and it didn't work out.

@Bob Stevens

thoughts on 44102?

 We buy everywhere, 

[Catherine Ding]

Quote from @James Wise:

Quote from @Catherine Ding:

@Nicholas L. @Bob Stevens Thank you for taking the time to respond. My husband has family in Cleveland but they are not investors. We normally go once a year during Thanksgiving but I will probably not be able to make any trips in the near future as we are expecting our first baby soon. I also know of other investors who do invest OOS including Columbus/Cleveland with success and have asked them for referrals. I thought it wouldn't hurt to ask here as well. I specifically asked about 44102 because the property I'm under contract on is in this zip code -- not sitting here "looking at zip codes" online lol. I don't know why you both immediately assume the worst of my commitment to investing OOS by asking for some referrals online. I am aware more due diligence is needed being OOS and am prepared to do so, and I am also not chasing cashflow in bad areas. 

 After going through the comments here, I think you'll get a lot of value in reading The Ultimate Guide to Grading Cleveland Neighborhoods.

Thank you. I have seen this already and done my research on neighborhoods, it was very helpful. The property I am looking at is in edgewater

[Bob Stevens]

Quote from @Catherine Ding:

Quote from @James Wise:

Quote from @Catherine Ding:

@Nicholas L. @Bob Stevens Thank you for taking the time to respond. My husband has family in Cleveland but they are not investors. We normally go once a year during Thanksgiving but I will probably not be able to make any trips in the near future as we are expecting our first baby soon. I also know of other investors who do invest OOS including Columbus/Cleveland with success and have asked them for referrals. I thought it wouldn't hurt to ask here as well. I specifically asked about 44102 because the property I'm under contract on is in this zip code -- not sitting here "looking at zip codes" online lol. I don't know why you both immediately assume the worst of my commitment to investing OOS by asking for some referrals online. I am aware more due diligence is needed being OOS and am prepared to do so, and I am also not chasing cashflow in bad areas. 

 After going through the comments here, I think you'll get a lot of value in reading The Ultimate Guide to Grading Cleveland Neighborhoods.

Thank you. I have seen this already and done my research on neighborhoods, it was very helpful. The property I am looking at is in edgewater

 why are you buying there? How are you going to make money? 

[James Wise]

Quote from @Catherine Ding:

Quote from @James Wise:

Quote from @Catherine Ding:

@Nicholas L. @Bob Stevens Thank you for taking the time to respond. My husband has family in Cleveland but they are not investors. We normally go once a year during Thanksgiving but I will probably not be able to make any trips in the near future as we are expecting our first baby soon. I also know of other investors who do invest OOS including Columbus/Cleveland with success and have asked them for referrals. I thought it wouldn't hurt to ask here as well. I specifically asked about 44102 because the property I'm under contract on is in this zip code -- not sitting here "looking at zip codes" online lol. I don't know why you both immediately assume the worst of my commitment to investing OOS by asking for some referrals online. I am aware more due diligence is needed being OOS and am prepared to do so, and I am also not chasing cashflow in bad areas. 

 After going through the comments here, I think you'll get a lot of value in reading The Ultimate Guide to Grading Cleveland Neighborhoods.

Thank you. I have seen this already and done my research on neighborhoods, it was very helpful. The property I am looking at is in edgewater

Solid area, we've got a lot of rentals over there, does really well for us and our investors.

[Nicholas L.]

@James Wise

just curious - i don't invest in or know Cleveland, but has this zip code improved in the last few years?  and/or does it have better and worse sections?

[James Wise]

Quote from @Nicholas L.:

@James Wise

just curious - i don't invest in or know Cleveland, but has this zip code improved in the last few years?  and/or does it have better and worse sections?

 Has better and worse sections. 

[Bob Stevens]

Quote from @Nicholas L.:

@James Wise

just curious - i don't invest in or know Cleveland, but has this zip code improved in the last few years?  and/or does it have better and worse sections?

 So many waste their time sitting on the internet " learning" and asking about zip codes. We have purchased props in ALL zip codes over the last 10 years and in ALL the pricing has doubled tripled and much much more. People said we were crazy to buy in EAST Clve, 7, 8 years ago, well how wrong where they all. We still buy everything we can in parts of EC. Try buying a MF there, good luck, no inventory for a reason :) 

I picked up a 7 unit across the parking lot from the RTA, nice ROI,( 20% + NET ) IMO it will be worth at least double in 5, 7 years.

Point being is get off the internet, it's a waste of time, it does not tell the reality

All the best