All Forum Posts by: Albert L.

Cleveland is awash in rental deals the whole metro area I was there in June I think to spend 5 hours.. I liked what I saw met with my Vendors realtor and PM.. really liked them.. green lighted it.. and just off MLS etc we are buying at least 5 a month and ratcheting up as labor allows we are not capital restrained in that market.. tax's are high and you have that POS stupidity which may or may not be stupid depending on what side of the fence your on on that one.. .. but for a high volume gig with plenty of renters and plenty of inventory Cleveland metro fits the bill for any size wallet.. you can buy hoodies or you can buy A quality and anything in between.. Next time I come back I will spend more than 5 hours.. I had a meeting with the owners of SMartland they have a nice gig going .. We are not doing anything as I tend to fund more of start up type enterprises than mature companies like them. AS one who works in all the big markets currently that are quote un quote cash flow markets.. Except Memphis and ST Louis these markets are pretty interchangeable.. and all this worry about major financial rehab etc.. does not really filter down to the BP I want to own a few rental house's investor.. they are not developers looking to do massive deals in the inner city areas.. or new construction.. they just want to buy a rental house.. Not that complicated Jim and I often talk about that its just a man or women a house and dog.. well not a dog a tenant.. you know what I mean.. to get in to the macro and micro economics of any of these big cities simply does not filter down to the average tenant who is just living their life out.. they are usually born and raised there and are not going anywhere no matter what business moves in or moves out.. UNLESS its a Detroit situation which is unique in America these days.

@Albert L. Wow! 4 month waiting list! Thats amazing...they really did take off! Back when i was getting my house under contract, they had plenty of inventory. Glad to see their taking off but hopefully they can maintain the quality!

The majority of your repair costs are due primarily to poor property management. A owner or PM that is doing quarterly inspections and billing for ongoing tenant caused repairs do not experience high turn over costs.

When owners/PMs ignore their management responsibilities they should  expect high turnover repair costs.