All Forum Posts by: Cameron Green

@Sturart Udis Personally I've been able to use my network to acquire properties. As investors and yes friends of mine grow their business into very  large commercial properties. Small residential properties seem like a headache for them now so I've been fortunate enough to take them over via things like land contracts and creative financing deals to get them out of those properties. It's just about being creative and solving problems. 

A great strategy in today’s market is networking with investors who are offloading smaller properties as they scale up. These properties can often be acquired through creative financing methods like:

• Seller Financing: Negotiate flexible terms with motivated sellers who want to avoid traditional bank processes.
• Lease Options/Subject-To Financing: Take over a seller’s mortgage without assuming full responsibility, especially for properties needing renovation.
• Creative Terms: Adjust terms to fit market conditions, like offering lower down payments or longer payoff periods.

Staying connected with investors and tailoring deals to current conditions can help you secure opportunities even in challenging markets.

Welcome!

Your deal looks solid and falls within the typical range for Cleveland. Here’s some perspective:

• 1% Rule: Meeting the 1% rule is a good sign, especially with many markets struggling to hit this benchmark.
• Cash-on-Cash (COC) Return: 8.73% is decent, especially with today's higher interest rates. Cleveland investors often aim for COC returns of 8–12%, so you're in the right range.
• Net Cash Flow: $277/month is positive and provides a buffer for unexpected expenses. Many Cleveland investors are comfortable with cash flow between $100–$300 per door, depending on the property and location.

Given that the purchase price is $123,000, it suggests the property might not be in the best neighborhood, as Cleveland’s more desirable areas typically command higher prices. If you're aware of the neighborhood dynamics and have considered factors like tenant turnover or maintenance, this deal still looks solid. Just keep in mind that less sought-after areas can come with slightly higher risks, but with the cash flow you’re generating, it can still be a good investment.

Congrats on finishing the rehab! Yes, you should be fine to place a tenant as long as you’ve already submitted your application for the lead certification and are just waiting for it to process. Typically, they won’t scrutinize properties with applications already on file—it’s more about catching those who haven’t submitted anything at all.

You may even find that the certification comes back sooner than the 60-day max. Just make sure your rental agent has all documentation ready and is transparent with tenants about anything that comes up. Good luck getting it rented!

Congrats on getting your first mid-term rental in South Euclid! It’s not uncommon to rent by the room to individuals, but it requires some careful management. Furnished Finder does make it tricky since you need separate profiles for each room, but platforms like Apartments.com or Airbnb might work better if you're aiming for full-house rentals or structured by-the-room arrangements.

If you decide to rent to multiple individuals:

• Tenant Screening: Screen each tenant thoroughly to ensure they’re reliable and responsible.
• Clear Communication: Introduce potential tenants to one another 
• Detailed Agreements: Use separate leases for each tenant and specify shared vs. private spaces, utilities, and maintenance responsibilities.
• House Rules: Create clear, written house rules to prevent misunderstandings.
• Inventory Tracking: Document everything in the home (furniture, appliances, etc.) to avoid disputes about damage or missing items.

Also, market your property with its flexibility in mind—like proximity to hospitals for traveling nurses or universities for graduate students. This can help target tenants willing to share. Best of luck!

For estimating rehab costs, I can send you a simple calculator if you’d like. Keep it straightforward at first, but know that experience is the best teacher—mistakes are part of the process and will help you learn.

For ARV (After Repair Value), start by running comps (comparable sales) on recently sold properties in the area that are similar in size, style, and condition to your planned rehab. Tools like Zillow, Realtor.com, or even BP's calculators can help, but working with a local realtor or appraiser gives you an edge.

Also, networking with contractors for ballpark rehab estimates and walking properties with them is invaluable. Good luck

With $23k and potentially more, you're in a good position to start looking for investment properties, especially in Ohio, where property prices can be relatively affordable. Given your experience managing 138 doors, you already have a significant advantage in understanding tenant needs, property maintenance, and financial planning.

Key tips:

• Focus on personal finances: Keep building excellent credit and maintaining healthy reserves.
• Financing: Explore loan options like conventional, or DSCR loans to maximize your purchasing power.
• Location: Research neighborhoods with strong Section 8 demand and landlord-friendly regulations.
• Due diligence: Analyze properties carefully, factoring in rehab costs, property management, and cash flow potential.

Your expertise and willingness to learn put you in a strong position—best of luck!

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!