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Updated over 3 years ago on . Most recent reply
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Property management advice and portfolio lenders
I am looking to purchase a few small residential rentals in cleveland in the next few months, ideally 2-3 4 plex properties for around 200k each.
I am wondering who is recommended as a property manager who can cater to lower priced rentals (600-700 rents) for a good price, and can also help me in finding, reviewing, and purchasing the units.
I currently dont have a realtor in cleveland, and would prefer to work with the property manager as a realtor, especially if it might improve the management fees. Im also open to other portfolio financing sources, as the ones I have have some constraints. If anyone could recommend a good portfolio lender for the area, that would also be fantastic.
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- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
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Your numbers are already way off. 200K for a 4plex and the gross rents are $600 to $700 per month? ........If you're looking for that in Cleveland you are really selling yourself short. I know lots of folks who have spent that amount on a fourplex out there in C and B neighborhoods that get $1,000 per month per unit easily.