All Forum Posts by: Cedric Talmadge

Quote from @Bob E.:

Feel free to reach out.  My property manager send out emails all the time with occupied rentals they are listing.

Thank you! Definitely will. 

Quote from @Nicholas L.:

I don't know the Cleveland market, but I don't think something in that price range is going to be turnkey and a cash flow bonanza

Maybe someone can post a specific deal

Take a look at this home I found on Realtor.com
3271 E 142nd St, Cleveland
$129,900 · 5beds · 3baths

https://apps.realtor.com/mUAZ/308laxg8

Duplex fully rented brings in $1700 (Section 8).

Quote from @Vadim F.:

Quote from @Cedric Talmadge:

Quote from @Vadim F.:

Quote from @Cedric Talmadge:

Hi,

I hope all is well! My name is Cedric and I am a newer real estate investor (currently have 1 mixed use property in NJ); I am looking in the Cleveland, OH area to invest in multifamily long term rentals preferably in the $130k or less price range (open to single families that cash flow well); I have 25 percent down and would love to find a turnkey property with a tenant and management in place to save some time and effort with me being long distance (I live in NJ). After doing some research I came across "rent to retirement" which is a turnkey rental company and I have a call to discuss my options with them this upcoming Monday however I was advised by a friend it may make more sense to find someone in the Cleveland area I am interested in to assist. Anyone familiar with any turnkey rental providers in the Cleveland or Ohio area that would have properties in the $130k or less price range? Any advice would be greatly appreciated. 

Why turnkey? Buying with a turnkey provider, you are letting the provider reap the equity rewards. Your return will also be minimal. If you have a solid PM, you can use their boots to do the rehab and force equity. 

Great question! Right now I would prefer to invest in turnkey properties because is seems safer and I think will save me time and energy; In the future I would be interested in using the BRRR method or maybe now if I could find something that need minor work and would cash flow fairly quickly.

 What kind of return are you looking to achieve? Make sure you are running the numbers yourself and not what the provider is providing you with. 

 Worse case I want net cash flow of $200 per door but some of these properties in the Cleveland (and other areas) may yield higher returns based on my calculations. 

Quote from @Vadim F.:

Quote from @Cedric Talmadge:

Hi,

I hope all is well! My name is Cedric and I am a newer real estate investor (currently have 1 mixed use property in NJ); I am looking in the Cleveland, OH area to invest in multifamily long term rentals preferably in the $130k or less price range (open to single families that cash flow well); I have 25 percent down and would love to find a turnkey property with a tenant and management in place to save some time and effort with me being long distance (I live in NJ). After doing some research I came across "rent to retirement" which is a turnkey rental company and I have a call to discuss my options with them this upcoming Monday however I was advised by a friend it may make more sense to find someone in the Cleveland area I am interested in to assist. Anyone familiar with any turnkey rental providers in the Cleveland or Ohio area that would have properties in the $130k or less price range? Any advice would be greatly appreciated. 

Why turnkey? Buying with a turnkey provider, you are letting the provider reap the equity rewards. Your return will also be minimal. If you have a solid PM, you can use their boots to do the rehab and force equity. 

Great question! Right now I would prefer to invest in turnkey properties because is seems safer and I think will save me time and energy; In the future I would be interested in using the BRRR method or maybe now if I could find something that need minor work and would cash flow fairly quickly.

Quote from @Zach Lemaster:

@Cedric Talmadge

Thank you for the interest.  Just curious, why Cleveland?  I personally have invested there for a long time & RTR does have a boots on the ground team (actually two of them) in the area.  The US is a diverse investment landscape & I would just like to know what criteria allowed you to narrow in on Cleveland?  Often when we speak with investors, they may have an idea about a location they want to invest in.  After we educate them on many other markets, they find a different market that better fits their criteria.  Again, we like Cleveland & have local teams there.  I'm just curious if you could share more about your criteria that led you to Cleveland.  Have you looked at any other markets?

Our team is looking forward to speaking with you on Monday to discuss further.

Here are some other BP forum threads of investors talking about TK, RTR & the Ohio market that you may find helpful.

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirement

https://www.biggerpockets.com/forums/44/topics/1058814-first-time-with-new-construction-cape-coral-fl?highlight_post=6055029&page=1

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

https://www.biggerpockets.com/forums/88/topics/1047543-big-profits-from-new-construction-sfr-build-in-cape-coral-fl

https://www.biggerpockets.com/forums/92/topics/983659-first-investment-property-with-rent-to-retirement?highlight_post=5677176&page=1#p5677176

https://www.biggerpockets.com/forums/12/topics/1122318-quality-turnkey-companies?highlight_post=6413855&page=1

https://www.biggerpockets.com/co/RentToRetirement

https://www.biggerpockets.com/forums/92/topics/929410-rent-to-retirement-updates?highlight_post=5508807&page=1#p5508807

https://www.biggerpockets.com/forums/92/topics/893621-rent-to-retirement-review?highlight_post=5222888&page=1#p5222888

https://www.biggerpockets.com/forums/311/topics/915728-experience-with-rent-to-retirement-turnkey?page=1#p5345200

https://www.biggerpockets.com/forums/92/topics/808479-rent-to-retirement-experiences

https://www.biggerpockets.com/forums/92/topics/518583-feedback-on-renttoretirement-and-zach-lemaster?highlight_post=6192149&page=4&utm_source=Iterable&utm_medium=email&utm_campaign=Transactional:%20topic_notification_V2&utm_channel=28426&utm_content=Marketing

https://www.biggerpockets.com/forums/67/topics/952977-turnkey-in-indianapolis-through-rtr-case-study

https://www.biggerpockets.com/forums/12/topics/997350-lessons-learned-from-buying-my-first-rental-property?highlight_post=5748036&page=1#p5748036

Thank you for reaching out! I have spent a few months looking at affordable multifamily markets; I've looked at Pittsburgh, Buffalo, Memphis, Ohio, Indianapolis and a few other markets however Cleveland seemed to have the most available units in decent condition in my desired price range and seemed to cash flow well based on my calculations. Cash flow is my priority right now and the numbers don't seem as attractive in other markets but I could be mistaken; definitely open to suggestions.

Hi,

I hope all is well! My name is Cedric and I am a newer real estate investor (currently have 1 mixed use property in NJ); I am looking in the Cleveland, OH area to invest in multifamily long term rentals preferably in the $130k or less price range (open to single families that cash flow well); I have 25 percent down and would love to find a turnkey property with a tenant and management in place to save some time and effort with me being long distance (I live in NJ). After doing some research I came across "rent to retirement" which is a turnkey rental company and I have a call to discuss my options with them this upcoming Monday however I was advised by a friend it may make more sense to find someone in the Cleveland area I am interested in to assist. Anyone familiar with any turnkey rental providers in the Cleveland or Ohio area that would have properties in the $130k or less price range? Any advice would be greatly appreciated.