My latest buy-and-hold, contractor recommendation, with pics! CLE

[Matt Motil]

I purchased my latest single family rental from the bank at the beginning of July. It is in Parma, Ohio, a grade A area of Cleveland. It is a 3 bedroom, 1 bathroom, 1 car detached garage bungalow with a fenced-in back yard. Here are the pics of when I purchased it: 

Up to this point in my investing career I have done all the work myself or with some help from friends who have skills. This was my first project where I considered turning the entire house over to a contractor. After getting a chance to meet @Neal Mahoney with Cloverleaf Drywall and Construction, I wanted to give him a shot. I couldn't be happier with the results. The entire house was reworked and looks fantastic. I have recently rented the place out to a long-term tenant.

Here are the after pics once Neal was done: 

I have since used Neal on a couple other projects and have had great results. If you are considering purchasing or have a need for contracting work in the Cleveland area, I would highly recommend reaching out to Neal. 

[Matt Motil]

@Tony SanFilippo, I bought the house from the bank for $50k, paid the contractor $5100. The house is worth about $95-100k in this market in its current condition. I have it rented for $1100/month. NOI is about $600/month.