All Forum Posts by: Caleb Barney

Thanks @Ryan Arth!

Also looking for mowers/landscapers. 

Hey everyone,

I’m looking for some referrals for solid designers, contractors, and stagers who work in the greater Cleveland area (for both the east and west side suburbs). I'm not looking for big companies with storefronts and lots of overhead—more interested in go-getters who have great communication skills and can work quickly/efficiently without breaking the bank.

If you've had a good experience with someone who fits the bill, I'd love to hear about it. Thanks!

I'm also based on the Westside, but I see benefits to either option. 

Things to consider as a rental investor newbie: 

How involved you want to be as a landlord/PM, if a Lead Safe Certification is required where your rental will be, if there is a point of sale for the ordinance you're buying in/what the escrow requirements are (especially if you're buying a heavy fixer), etc. 

You'll also need to look out for some areas with higher property taxes...

Lastly, figuring out if you want to own/deal with a bunch of lower priced homes where you could buy more properties and easily be hitting the 1-2% rule, but potentially have more headaches (higher tenant turnover, higher eviction rates, older housing stock where one big expense wipes out a year's worth of income, less appreciation in home value) OR if you want to buy in areas that are likely to cashflow less, but appreciate more over time. 

Btw, I'm assuming you're referring to Cash-on-Cash Return for the ROI based on your response. Let me know if I'm wrong though (ROI vs Cash-on-Cash Return). 

Hopefully that helps!

Hey Jonathan, 

What are you looking to do in Cleveland (buy-and-hold, fix-and-flip, etc)? Also, I saw in your last comment you mentioned you'll have to look at the East side as well...are you primarily trying to stay on the West side?

Need more info to determine if it's a good deal or not...Cleveland RE prices vary drastically depending on the neighborhood, but also condition, market rents, if it has a POS,  etc.

Hi Cole, 

In addition to what some of the other people have mentioned already, I would look into the following: 

1) The MLS shows that the property went under contract previously before going back on market. Ask (or have your agent ask) if they have a copy of the inspection report from the previous buyer. Maybe they do, which can save you some time/money if there are any major red flags. If they don't see if you can find out what happened with the other deal.

2) Have you personally walked through the property or had anyone take a video for you? As others have mentioned, the layout for a conversion could be a little odd, which then can affect who wants to live there (as tenants) and your possible exit route (when selling it, will it turn other buyers off).

3) Regarding property taxes, Summit County reassesses every 3 years (called a triennial update) and Ohio state law mandates that a sexennial reappraisal be performed every six years. Since taxes are paid one year in arrears, the value changes from the triennial update will be reflected on tax bills mailed in January 2024.

Here is a link from Ohio's Department of Taxation on which counties are up for triennial updates this year (Summit County is one of them)...

Hope this helps! 

 Is this a serious question? 

Matt Sorace with A Step Up Home Inspection

216-832-6182