Strategies to Find Multifamily Deals in West Side of Cleveland

[Sheri L.]

Hi fellow BPers,

It is feeling much harder to find good cash flowing smaller multifamily properties on the MLS in Cleveland's nice west side neighborhoods (i.e., Ohio City, Tremont, nice parts of Detroit-Shoreway, Kamm's Corner) and western suburbs like Lakewood and Rocky River.

Is anyone else having difficulty finding good multifamily deals on the MLS in these areas?

If so, what other strategies have you found to be effective to find properties in these areas (e.g., direct mail, wholesalers)?  

Thanks in advance for your help. 

[James Wise]

Welcome to the site @Sheri L.

The market is definitely hot right now. It is no longer easy pickens like it was coming out of the recession. Sellers are now able to obtain top dollar for their properties, especially properties in high demand areas like those you mentioned. Just recently I listed a duplex for $175k in the Detroit Shoreway area and had 4 offers within 48 hours. 

Some things that work well for us are

• Direct mail
• Social Media (Facebook, IG, BP, Twitter)
• Neighborhood exposure (Yard Signs, Cars, Trucks, Billboards)
• Networking
• Community involvement (sponsoring little league teams, 5k's etc)
• Google ad words