All Forum Posts by: Ryan Arth

Tom, rents are easy enough to verify. Put on your tenant hat and go looking at what is currently available in Lakewood, what you get and what you pay for that. You can also have an agent look at MLS listed rentals that were closed out. Many rentals don't run through the MLS, but enough do to get you good data.

Your opinion on Lakewood is not unfounded, it has been on a tear the past ten years. 

Also, STRs are more like a small hospitality business than your LTR model. You just need systems and the right management/cleaners to keep it running well. And to look at occupancy data in areas that might have oversaturation due to their popularity.

@Jay Hinrichs Definitely a concern for sure. Suburban, above average schools. We are not putting up capital, just handling all development/build planning and operations. The build to rent phase plus storage will most likely be its own entity with a capital raise. I assume we will be selling off lots to other builders at some point and I will facilitate that. The one parcel that we will develop into buildable lots will probably be after we have built out/sold off the initial 30ish lots that are ready to go, which should produce capital and prove demand. 

Thankfully, we are already getting inquires and website hits and we have only just broken ground on and put a single sign on one lot. 

Fascinating thread. As we are working on our first development, which builds out a failed development from '08-09 and then expands into raw acreage beyond that, I am learning so much. We have everything from a small amount of senior living in an existing condo plat, to average size fee simple and dense build to rent with storage. We are the builder here at the start, but will probably not see it all the way through as momentum builds. 

@Austin Wood We are working on a slightly smaller townhome project. We looked at the numbers and decided to do build to rent on them. We could then sell the project in the future as an entire package if we wanted. Between the tax abatement they would receive (in our location), the depreciation, and the agency debt after stabilization, it was compelling for us to pivot to rent instead of sale. 

On another project of single family builds we are garnering attention before we have even framed up the first home, so we are hoping to not even have to list them, even though I am an agent. Word of mouth and some light marketing goes a long way in a supply constrained market.  

@Konstantinos Lembesis If you search for posts using the city as your search term you will find many discussions that should give you more context than you might gather with a single post.

@Natalie Gelbke-Mattis I would call Steve Barreto at Huntington Bank. They are the largest SBA lender in the area, and this should fit well with the SBA 7(a) program, unless it is a bit too small. 216-308-7752.

Outside of that, my friend Phoebe is currently in the process of buying an established ice cream location on the West side. I can connect you if you would like. 

https://www.shorewayhomeinspections.com/

https://inspectiontech.us/

@Robert Ellis Since you mentioned panels, have you looked into SIPs at all for your builds? 

@Noam Elgavi There was an identical post to this posted at the same time. I would suggest using the search function on the forums to do some research, as this question is asked all of the time. You will get more info from reading past posts than you will get on a single thread. 

Case in point, many responders copy and paste their usual reply, as you will see when you look at past posts about neighborhoods. 

@Nataly Naim There are countless posts on this topic. If you search you will find a lot more information than you would probably get to an individual post.