Cleveland. Section 8 investment.

[Anna Doumkina]

We are looking to purchase a few single family properties in Cleveland for Section 8 tenants. I would like to ask if anyone has experience with Section 8 in Cleveland, and how is it for you? 

Also looking to connect with:

- professional real estate agent in Cleveland

- a property manager in Cleveland (maybe someone can recommend?)

- a lender in Cleveland, preferably someone who works with foreign investors. (DCSR, Private Lenders, Credit Union banks etc.) 

Overall, looking to connect with people who are familiar with Cleveland. Any input would be greatly appreciated! 

[Michael Smythe]

@Anna Doumkina contact @James Wise with Holton-Wise

[Anna Doumkina]

Quote from @Michael Smythe:

@Anna Doumkina contact @James Wise with Holton-Wise

 Thank you!

[Min Zhang]

Hey Anna! Welcome to BiggerPockets. I grew up in Cleveland and personally own a S8 rental. I’d love to help and connect you with my team in the area. Let me know how I can help!

[Simon Ashbaugh]

Hey Anna, Cleveland actually has a strong Section 8 market with high demand from voucher holders. I can connect you to my go to PMs and Lenders if you need it.

[Bob Stevens]

Quote from @Anna Doumkina:

We are looking to purchase a few single family properties in Cleveland for Section 8 tenants. I would like to ask if anyone has experience with Section 8 in Cleveland, and how is it for you? 

Also looking to connect with:

- professional real estate agent in Cleveland

- a property manager in Cleveland (maybe someone can recommend?)

- a lender in Cleveland, preferably someone who works with foreign investors. (DCSR, Private Lenders, Credit Union banks etc.) 

Overall, looking to connect with people who are familiar with Cleveland. Any input would be greatly appreciated! 

 Its great!! I have been working in the Cleveland markets for many years. Govt tenants are the best!! I just got 900 for a 1 br in the hood. YES 900!! Nothing I am not aware of in Clv, happy to help 

BTW, you are out of the country you are not getting a loan in America. So you need to be cash. UNLESS you do have a US bank acct an address, 

Good luck 

[Tanner Cindrich]

Hey Anna, I work with plenty of out of state investors in section 8 in the pittsburgh area as well as other rentals. If you wanted to explore looking into pittsburgh, let me know!

[Ko Kashiwagi]

Hi Anna,

Are you investing as a foreign national (with visa, Green card or ssn)? or as a complete foreigner?

[Bob Stevens]

Quote from @Ko Kashiwagi:

Hi Anna,

Are you investing as a foreign national (with visa, Green card or ssn)? or as a complete foreigner?

 Either way hes not getting a loan . I know many out of country investors that pay cash in the Cleveland markets for years, 

[Ko Kashiwagi]

Quote from @Bob Stevens:

Quote from @Ko Kashiwagi:

Hi Anna,

Are you investing as a foreign national (with visa, Green card or ssn)? or as a complete foreigner?

 Either way hes not getting a loan . I know many out of country investors that pay cash in the Cleveland markets for years, 

Yes a lot of people buying cash but also plenty that are using financing in this market with DSCR financing. There are many programs out there for foreign investors and foreign nationals, each with its own requirements/qualifications

[Bob Stevens]

Quote from @Ko Kashiwagi:

Quote from @Bob Stevens:

Quote from @Ko Kashiwagi:

Hi Anna,

Are you investing as a foreign national (with visa, Green card or ssn)? or as a complete foreigner?

 Either way hes not getting a loan . I know many out of country investors that pay cash in the Cleveland markets for years, 

Yes a lot of people buying cash but also plenty that are using financing in this market with DSCR financing. There are many programs out there for foreign investors and foreign nationals, each with its own requirements/qualifications

Unless a new rule came out in the last few weeks, I am not aware of any loan any non-US citizen can get UNLESS they have a US bank acct. If so, that would be great, I will triple my business :)  

[Anna Doumkina]

Quote from @Simon Ashbaugh:

Hey Anna, Cleveland actually has a strong Section 8 market with high demand from voucher holders. I can connect you to my go to PMs and Lenders if you need it.

 Simon, thank you! That would be great. 

[Anna Doumkina]

Quote from @Ko Kashiwagi:

Quote from @Bob Stevens:

Quote from @Ko Kashiwagi:

Hi Anna,

Are you investing as a foreign national (with visa, Green card or ssn)? or as a complete foreigner?

 Either way hes not getting a loan . I know many out of country investors that pay cash in the Cleveland markets for years, 

Yes a lot of people buying cash but also plenty that are using financing in this market with DSCR financing. There are many programs out there for foreign investors and foreign nationals, each with its own requirements/qualifications

 Correct. We are looking into DCSR loans.

[Anna Doumkina]

Quote from @Min Zhang:

Hey Anna! Welcome to BiggerPockets. I grew up in Cleveland and personally own a S8 rental. I’d love to help and connect you with my team in the area. Let me know how I can help!

 Hey Min! Thank you! I would love to connect! 

[Anna Doumkina]

Quote from @Ko Kashiwagi:

Hi Anna,

Are you investing as a foreign national (with visa, Green card or ssn)? or as a complete foreigner?

 Hey Ko, I  sent you a private message with all the details. 

[Keyano Burgess]

Hi Anna,

I am a realtor here in Cleveland, OH, born and raised and would love to help you. I've got a team of contractors, property managers, attorneys, etc. anything you would need behind my back. I'll send you a DM and looking forward to potentially working with you!

[Jessica Larson]

Hi Anna, welcome to the Cleveland market, and Section 8 investing! I would be happy to share information on our experiences with Section 8 investing here, as we manage over 150 Section 8 units in the Greater Cleveland/Akron area. 

[Regina Blake]

Hi, I would also do my own homework and talk to different professionals in Cleveland for all my real estate needs. 

[David Leggett]

That's great to hear!  Lots of good investment opportunities for Section properties in the Cleveland market.  The best thing you can do is to work with a realtor / property manager who's experienced doing Section 8 rentals and have good contacts over at CMHA to help you when issues inevitably come up.

The process can sometimes take 2-3 months, but there are other programs like EDEN that can go a lot faster.  Working with an experienced realtor / broker who knows the inside and out of these type of programs and has contacts over at these companies, will help your efforts significantly.  

And lastly, make sure the property management company has experience leasing and managing Section 8 properties, since there is a lot paperwork and processes, and I've seen experienced property management companies who do this stuff all the time, screw up on multiple Section 8 leases to where the tenant's packet expired because they were so incompetent.  

Happy to share any contacts that you might need to help bolster your team!  Best of luck!

[Miguelli Fernandez]

Quote from @David Leggett:

That's great to hear!  Lots of good investment opportunities for Section properties in the Cleveland market.  The best thing you can do is to work with a realtor / property manager who's experienced doing Section 8 rentals and have good contacts over at CMHA to help you when issues inevitably come up.

The process can sometimes take 2-3 months, but there are other programs like EDEN that can go a lot faster.  Working with an experienced realtor / broker who knows the inside and out of these type of programs and has contacts over at these companies, will help your efforts significantly.  

And lastly, make sure the property management company has experience leasing and managing Section 8 properties, since there is a lot paperwork and processes, and I've seen experienced property management companies who do this stuff all the time, screw up on multiple Section 8 leases to where the tenant's packet expired because they were so incompetent.  

Happy to share any contacts that you might need to help bolster your team!  Best of luck!

 Piggybacking off this post =)  Are you able to share some section 8 experienced PMC?  Been reading a lot of reviews on some that I've been recommended and so far I'm liking B2B Property Management.  Anyone have any experience with them for section 8?

[Drew Sygit]

@Miguelli Fernandez I've met the owner of B2B and he seemed very knowledgeable.

[Nicholas Jacob Nowosielski]

Hi all, 

Can anyone recommend a good, and thorough inspector that can walk a few properties for me and make a list of things that need to be done before I call out the section 8 inspector to come out?

[Kye Matthews-Mason]

Quote from @Simon Ashbaugh:

Hey Anna, Cleveland actually has a strong Section 8 market with high demand from voucher holders. I can connect you to my go to PMs and Lenders if you need it.

 Hi @Simon Ashbaugh - Would you be able to share your list with me as well? I have some friends looking for a PM in Cleveland right now. I'd love to share the list along to help them out.

[Simon Ashbaugh]

Quote from @Kye Matthews-Mason:

Quote from @Simon Ashbaugh:

Hey Anna, Cleveland actually has a strong Section 8 market with high demand from voucher holders. I can connect you to my go to PMs and Lenders if you need it.

 Hi @Simon Ashbaugh - Would you be able to share your list with me as well? I have some friends looking for a PM in Cleveland right now. I'd love to share the list along to help them out.

 I'd be happy to. Let's connect.

[Jessica Lamont]

@Bob StevensHi Bob, I’d love to connect! I’m looking to invest section 8 in Ohio. Would love any advice! Thanks. 

[Jessica Lamont]

@Tanner Cindrich hey! I’d love to connect about section 8 investments.