Renovation: Multi-Family in Tremont/Cleveland, OH.

[Jared Smith]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cleveland.

My 2nd major kitchen renovation in my multi-family home in the historic Tremont area in Cleveland, OH. This is a great investment where I was able to increase the rents $250/month.

What made you interested in investing in this type of deal?

Amazing location 1.25 miles walking distance to Progressive Field.

How did you find this deal and how did you negotiate it?

Personal network of friends and colleagues.

How did you finance this deal?

Cash.

How did you add value to the deal?

Solid relationship with my contractor to renovate the entire upstairs kitchen to increase rents.

What was the outcome?

Looks fantastic and increased rents $250/month.

Lessons learned? Challenges?

Kitchens/Bathrooms are where you get the most ROI in renovations, just make sure you budget for both time and repairs.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Me, myself & I!