Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Timothy Murphy III

Timothy Murphy III has started 6 posts and replied 678 times.

Post: Just got offered a full time position after graduation!

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Account Closed 

Welcome to the forums and congratulations on the job.

Post: Cleveland OH investing?

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@TATYANA DALI 

I know the east side of Cleveland fairly well so I'll chime in here.

South Collinwood and Harvard really aren't all that close to each other. North and South Collinwood are east side neighborhoods that are up north along the like and border Euclid, an inner ring suburb. Harvard sometimes refers to a neighborhood (AKA Lee - Harvard or Lee - Miles) that's on the south east part of Cleveland. It'd probably take you 25 - 30 minutes to drive from one neighborhood to the other. Harvard is also a major street that runs deep into the city and out into the suburbs.

South Collinwood can be okay, but parts of it are a little bit rougher too. North Collinwood is the Collinwood neighborhood that has more buzz about revitalization because of the Waterloo Arts District area. For either Collinwood neighborhood, you want to stay away from the suburb of East Cleveland as much as possible and you also want to make sure that you're not in an area that's more like the Forest Hills or Glenville neighborhoods that have more crime and blight and can be more challenging. Staying north of the highway and east of E 156 is preferable and its even better to be as close as possible to either Waterloo or E 185th.

My general impression of the neighborhoods around Harvard is areas in the E 150s blocks and higher are mostly stable, around the E 140s blocks is a little bit rougher but still workable, and the areas in much lowered numbers then that can be a lot more challenging.

Earlier this week I was looking at a package of properties on behalf of an out of town investor that I work with. One was on a street slightly north of Harvard near E 147th. I asked a friend and longtime resident of the south east neighborhoods of Cleveland and he described that area as "an okay area. not the best but definitely not the worst". My personal observations of the area matched his description and my general impression that I held.

Another of the properties was on E 149th in Collinwood north of St Clair. There was some mild blight, meaning a couple of vacant and boarded up properties but most properties in the area appeared to be reasonable stable and well maintained. I wouldn't disqualify either of these properties based on location and neighborhood.

A - F grades are meaningless without some sort of scale, but I can't imagine any reasonable calibrated scale would have those areas grading out as a "B" neighborhood. However, the right streets in those areas could be "C" neighborhoods. Just be careful, especially if you're not local, because there are "D" and "F" caliber streets in the immediate areas as well and there's no real good way to tell this remotely. Also, check the post by @James Wise where he grades Cleveland area neighborhoods. Just keep in mind he's looking at zip code level data with his west side eyes, and he doesn't know the east side neighborhoods down to a street by street level. Many of these areas, at a zip code level, are "D" or "F" areas but have individual pockets within them that are "C" grade areas with good potential return on investment.

Post: New to the Columbus area

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Lester Scott 

Welcome to the forums.

Post: Ohio Investors

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Miles Presha 

If you want detailed information about City of Cleveland east side neighborhoods I'd be happy to discuss that with you.

Post: Tax and Legal resources

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Jeff Cashell 

I'm in Cleveland, not Columbus but my license is good state wide. Feel free to call / email if you'd like to set up a phone consultation.

Post: New member from Cleveland, OH

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Robbie Fiorini

Welcome to the forums. You'll find a very active Cleveland contingent here.

Post: New member from Columbus, Ohio area

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Rob Fill 

Welcome to the forums.

Post: Looking to network w real estate agents in Cleveland

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@James Wise would be another good contact.

I'd love to provide a ton of info on this but @Engelo Rumora  really covered the major points.

Lots of midwest cities are stable economies and population centers and extremely high rent prices compared to acquisition costs. I'm personally biased towards Cleveland, Ohio as I'm a resident and familiar with the area, but other midwest cities fit the description too.

And his point about having trustworthy team members on the ground can't be repeated enough. Trying to manage an investment property portfolio remotely comes with some unique challenges. Don't compound them by neglecting to hire competent local management. For Cleveland, Ohio, I'd recommend @James Wise but there are certainly other qualified people out there too. And don't take my word or any other person's word for it, do your due diligence on everything.

Tim

Post: Newbie from Cleveland, Georgia

Timothy Murphy IIIPosted
  • Real Estate Broker
  • Cleveland, OH
  • Posts 771
  • Votes 252

@Hunter Saine 

Welcome to the forums.