All Forum Posts by: Cameron Green

It's great that you're looking to invest in the Cleveland area! As an overseas fund, working with a bank or lender that understands international investors and can accommodate your specific needs is key.

There are asset-based loans or hard money lenders that could potentially offer financing based solely on the value of the property, rather than relying on personal guarantees. These loans are more flexible in some cases.

As for banks in Cleveland, some of the more investor-friendly options to consider might include:

1. Huntington National Bank - Offers business loans and could be open to working with foreign nationals investing through U.S. corporations.
2. First National Bank - Another local option that has experience working with investors, especially through corporate entities.

Congrats on your first house purchase! I can relate to your experience—renting to traveling nurses or doctors isn’t as easy as it may seem. I have a MTR near Cleveland Clinic and University Hospitals, and I found it was a bit tougher than I expected to secure tenants. My advice is to start listing early and make the property as nice as possible. Many traveling professionals look for rentals under $2,400/month, though sometimes they can go higher if they are part of a group.

Let me know if you need any help—I'd be happy to share everything I've learned!

It sounds like you’ve done a great job adding value to the property with the additional living space, but unfortunately, appraisers sometimes have different criteria for valuing finished basements, especially when it comes to bedrooms or family rooms. One reason could be that not all appraisers consider basement space to be "general living area" (GLA), regardless of the building codes.

To overcome this barrier, you can:

1. Provide Documentation: Present the city’s approval for the egress window and any other relevant permits or certificates that show the space was done according to code. This can help demonstrate that the additional bedroom is a legitimate, livable space.
2. Comparable Sales: Have your real estate agent provide recent comps for homes in the area with finished basements or similar layouts. Appraisers often rely on comparables, so showing them properties with similar square footage and added living space may help justify the value.
3. Get Another Appraisal: If possible, you could request another appraisal or hire an appraiser that specializes in valuing homes with finished basements or unique features. I also have some appraisers’ numbers in the Cleveland area if you’d like a recommendation.

Let me know if you want those contacts, and I’m happy to share. Keep pushing through, as appraisers sometimes need extra help to understand the full value of a well-done renovation.

You're asking the right questions, and you're on the right path! The key to real estate investing is understanding the IDEAL mindset—Income, Depreciation, Equity, Appreciation, and Leverage. These are the primary reasons people invest in real estate. You're already thinking about long-term benefits, and it's great that you're bringing your contractor husband's expertise into the equation.

To alleviate some of the stress, I recommend starting by focusing on quality properties in solid areas where you can add value. Think about how you can make these properties better for the next person to live in, whether through repairs, renovations, or improving the management. If you focus on creating great spaces, you'll be able to generate strong returns with less worry.

You seem to have a solid foundation—keep leaning into that. The more you learn about properties and market dynamics, the more confident you'll feel when it's time to make your move. It’s all about positioning yourself for long-term gains, and with your current knowledge and tools, you’re in a great spot to make that happen!

Lol people playing the game! I wish we could have more free flowing discussions somehow on these in real time going over a property or finding fellow investors!

Hi there!

For your BRRR in Ohio, it depends on how big or small you want to go. If you're looking at Cleveland, the west side is often a great choice since you can achieve both appreciation and cash flow in neighborhoods like South Hills and Edgewater. Nearby suburbs like Lakewood, Rocky River, and Fairview Park also offer solid investment potential with generally good stability and demand.

For employers, Cleveland Clinic is a strong presence but hasn’t significantly gentrified the surrounding area. However, University Circle could be promising for appreciation if you're looking to hold long-term. Progressive is based in Mayfield Village, but since they’ve moved largely remote after COVID, I wouldn’t focus there for rental investments.

If you'd like to discuss your investment goals in more detail, I'd be glad to help narrow down the best areas for your BRRR strategy. Hope this helps, and reach out if you need more info!

Hi! Yes, Clark-Fulton is still generally considered a D-class neighborhood. While buying near a hospital can sometimes be a good investment, in this case, the hospital in question is MetroHealth, which is a county hospital primarily serving lower-income residents, many of whom are on Medicare or may not have insurance. The hospital did recently undergo expansion, but I wouldn’t count on that alone to drive major change in the area’s economic profile anytime soon.

If you need more specific insights on Trowbridge Ave or the surrounding area, feel free to reach out—I’d be happy to help!

Dang, this is a good one and I don't have a great answer but I would look at lenders who specialize in commercial or portfolio loans. In Ohio, some banks and credit unions are known for flexibility with mixed-use or investment properties include:

1. Civista Bank - Known in Ohio for its flexibility with investment properties, they may have options for mixed-use financing.
2. Liberty Home Mortgage - Offers a range of loan products, including commercial options that might suit your situation.
3. Huntington National Bank - Has experience in commercial lending and may offer portfolio loans that allow combining the properties.

Asking for a price adjustment for buying the single-family home in cash could be feasible, especially if the seller needs flexibility for the divorce settlement.

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It sounds like you’re facing a lot of challenges, but you’re already taking the first steps by seeking advice and staying open to new strategies. The biggest thing right now is to stop putting up mental blocks—you can achieve success as a mom of 3, but it’s crucial to push past the mindset of failure. You have value to offer, and sometimes it’s just about taking that first step.

Start by reaching out to 10 people on BiggerPockets or LinkedIn for help—don’t be afraid to ask for guidance. Even if it feels uncomfortable, people are often willing to offer support, and you can reach out to me too! The key is to take one action item every day, no matter how small.

Write out 100 things you want to achieve this year, and then try to knock out at least 5 each week. Creating habits that lead to success is how you’ll build momentum. Stay positive—you got this! Let me know how I can support you in building the life and future you deserve.