All Forum Posts by: Andrew A.

@Guy Haramaty

I did my first live and flip in Cleveland in 2017 as well. Bought at 16.5k and sold for 90k. Some luck some hard work. I moved here from California. Hired many contractors throughout this project fired most of them and I ended up doing a lot of the work myself but in that I found my passion in woodworking (I'm an artist and truly enjoy creating cool interiors). The market has changed drastically since I first was perusing the MLS in 2016. Less deals to be found in emerging neighborhoods (i.e. Gordon Arts District) today.

I think the biggest hurdle oftentimes in Cleveland is not necessarily the repairs needed if priced right (I understand exterior, foundation, roof and mechanicals are big expenditures), it's the margins and perceived value.  There needs to be enough margin for it to be worth a damn and most homes in the class C neighborhoods would yield slim to no margins.  There's always exceptions but to pick out those exceptions is where intimate knowledge of the area and experience living here actually helps.  You see the riff raff that congregate regularly on your sidewalk, you see the winnebego perma-parked accross the street.  You get awakened by the loud Harley exiting the driveway every morning at 4am.  The topless guy that chain smokes with a bottle of bud all day on his porch.  All these things create value and desirability. 

In class C neighborhoods, this may be a good reason why Winter may be a better season to put on the market.   Less competition, streets are covered in ice and snow, people stay inside.  

My 2 cents.  

Estimates should be free in or out of state.  

I'd say the first thing when analyzing your renovation is understanding causal effect of one change and the domino effect it has on other parts of the house.  (ie. if you add a patio door, how will it affect the exterior siding and stairs that lead to it).  

Jackie, I moved to Cleveland a year ago and did my first "flip" at a much lower price point.  I could share with you some pointers and lessons learned.  I ended up doing a lot of the cosmetic work myself (trims, walls etc). Feel free to message me.

I just moved here a year ago to invest and did 1 flip and bought a rental multi.  Make sure to bring a jacket and good shoes!  

Melissa, having done my first flip in Cleveland this past year and just closing on it,  be very careful what neighborhoods would allow you to make the margins you need to make the profit.  Buying cheap doesn't necessarily equate to profit because a roof will cost the same in a cheap area vs an expensive area.  Also if you are creative play to your strengths to distinguish your house from the rest on the market.  

These are my two cents from having moved to Cleveland this past year and owning a duplex and 1 flip.  

I just moved to Cleveland from Cali to invest and house hack.  I currently have 3 properties now. Let me know if you have any questions.

please email me more info

Great info @Bob Collett.  I just moved to Cleveland from California and take my perspective as fresh eyes on West-East Cleveland situation.  As an out-of-stater, I chose to live on the West Side because 1.  It's closer to the airport (located on the southwest side of Cleveland).  2.  Cleveland is very block by block, it's as if they drew an invisible line from good neighborhood and the ghetto.  I feel this is even more prevalent in East Cleveland especially near Martin Luther King/St Claire area.  3.  And correct me if I'm wrong, I just feel you need more area expertise on the East Side to make a good investment.  I swear everyone says this neighborhood is changing and up and coming but it's all a historical take from their experience.  I just feel it's so much riskier for a new investor to invest in the East because there are so many niches and changes occurring in all the micro neighborhoods (i.e. Slovak village). 

For now I'm really enjoying living in West Cleveland although there are some rough areas here as well.  It's a learning process.  More than just location, location location, it's the actually people that live around you that google maps just can't show (most of the time lol).  I think it's important to remember that it's the people that turn a neighborhood, not the physical location itself which is why it is so important to bring in good people to your properties.  Me house hacking and living in the neighborhood that I invest in, puts more skin in the game to actually improve the neighborhood and lead by example.  

- 2 cents from out of state recently moved to Cleveland investor from California.

bonus: All the good ethnic eats are on the East Side though.   Thai, Vietnamese, Korean food fanatics will bring you to the east.  Oh...and the only Bank of America ATM is far east on Chagrin.  

Gas bills are costly during Boston winters so split those as well.  Be cognizant of flooring material that reduce sound transmission between units since it's an up and down unit.