All Forum Posts by: Andrew A.

Thanks Alex, the contesting taxes based on purchase price was new to me too!  We both learned something lol.

Water Sewer AND Storm Drain. Yes it sucks but Don has mentioned you can put a limit on water bill covered by landlord and an excess tenant pays. 

Originally posted by @Alex Corral:

Andrew A.

Great thread! This really helps for someone looking to buy in the Cleveland area! I like the returns but keep going back & forth on the taxes. Good to know they can be contested.

Having to pay for water & sewer sucks.

@Fahim Ahmad

I'm not very familiar with the East Side but be cognizant of the taxes and Point of Sale Inspection for those areas that you mentioned.  

I'd try to talk with as many people as possible in those areas to get an idea the type of tenants you would be attracting there. The student base near University Circle is great because it brings a lot of diversity and cool restaurants and places to hang out. 

Take lots of pics AND video.  I prefer video because I feel it's a more accurate depiction of the vibe than just a snap shot.  Also Cleveland is very block by block so it's important to get quite intimate with the micro neighborhoods as well.  Don't be afraid to ask your agent tons of questions, I'm sure he'd be glad to provide his expertise in those areas. and be your eyes on "The Land" lol.  

Best of luck and enjoy your trip here!

Andrew

@Fahim Ahmad  Thanks Fahim!  It's definitely different than how you imagine it in the pictures and websites.  It's like doing a study abroad program or relocating for work especially if you are house hacking and landlording.  I've done a couple flips and also a house hack and I'm looking for my next project.  Ideally I'd want to be in a 2-3 key markets not limited to Cleveland.  

@Rob Gillespie  

Thanks I really enjoyed making the fireplace.  A lot of joinery techniques from pockets screw/rabbets and I have grown a passion for woodworking/interior design during the process.  So many tools.

Ah you believe Cleveland is "inferior"?  I guess if it is, I can learn about human physiology, but I can also learn about bacterias and single celled organisms too.  :)  But analogies aside, I'm more hands on and open to new experiences.  Like I mentioned, I'm not calling Cleveland my forever home, it's like a short study abroad program.

Best wishes for 2018!

I loooove 6 flags Magic Mountain!  I miss the hot Valencia weather.  

Can you test the waters first by trying to sell it now and plan B would be to flip?

@Varinder Kumar

Buenaa Paaaark Knotts Berry Farm!  My parents live there!  Huge Korean American demographics there.  

I think Toledo is more buy and hold market.  The margins oftentimes will be too small to achieve any significant appreciation but there's always exceptions.  Are you planning to invest out of state?

@James Maradits  I'll get on that!!!  My neighbors are paying like 1500 less in taxes but it might be based on square footage.  My duplex again is a 4000 sq ft Goliath.  Huge.

@Miguel Nava Thanks for sharing your numbers thus far!  Yea any of the "Heights" have high taxes.  You can also call Cleveland Water & Sewer (and Storm Drain) to get previous bills.  Sometimes they can't pull them up because it's account specific but worth a try.  From my experience, it's the Sewer and Storm that costs more than water.

@Don Petrasek

Thanks so much for sharing.    It's great to compare notes.  

I hear you on the water/sewer/storm drain fee.  I pay average $140/month.  It's a bit ridiculous.  

Since the lease is up for the tenants and now it's month to month, do you recommend that incorporate the fees into an increased rent or itemize it separately?  I just don't want to have additional administrative tasks every month to bill extra for Gas/Water etc.  Gas is one boiler for both units.

@James Maradits Yes it's very big.  

Not near edgewater it's near the zoo.  There's a common boiler for both units :(.  Instead of having the administrative task of calculating and splitting and billing gas each month, I decided to simply factor that into the rent.  

Thanks!

Andrew