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Updated over 5 years ago on . Most recent reply
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Allow me to re-introduce myself - Cleveland, Ohio
Mike Trzaska here. I'm a long time follower of this site, but now actively pursuing my first investment. My wife and I recently sold what I will call a "live-in flip" in the Tremont area of Cleveland, and purchased a cheaper property in Cleveland Heights. This freed up some equity that I want to put into my first true investment property.
I'm looking to connect with other investors, agents, property managers, and contractors to start setting up a foundation for BRRRR with a partner. Currently, I am casting a wide net of target neighborhoods: Old Brooklyn, Cleveland Hts., Shaker, Kamms Corner, South Euclid, Parma. Since I am considering a partnership with an old colleague I'm also looking to hear thoughts on how to structure the operating agreement and any "gotchas".
As a lifelong resident of Cleveland, I am happy to answer any questions about the area or can recommend the best place to have a drink if you are visiting from out of town. I am also an avid fly fisherman and willing to divulge my favorite spots for valuable advice :)
You stay classy Cleveland...
Most Popular Reply
@Mike Trzaska The taxes are killer in cleveland hts and I know its not everyones favorite market but my property in Cleveland hts is my most favorite and I would absolutely do what we did 100x over there. Even though taxes are high, rental amounts are high there too. My duplex rents out at $1500/unit and I bought it for $120k off the mls with little cost in reno (although i do have an advantage in reno costs due to my husbands field of work).