All Forum Posts by: Timothy Murphy III

@Account Closed 

Welcome to the site. Lots of good Ohio and Cleveland specific information available here.

Tim

@Jered Sturm 

I can't speak to Cincinnati specific practices, but in Cuyahoga County an arms length transaction is very persuasive evidence as to value of the property. This is the case whether the property was purchased via the MLS or some other off market source.

Barring that, hiring an appraiser would be my next move, at least in my own back yard. The reduced taxes going forward are often worth the appraiser's fee.

Tim

@Jeff Cashell 

Welcome to the forums.

Tim

@Ryana Munford 

Welcome to BP.

An interesting tidbit on on the zip code level assessments. The 44108 zip code is composed mostly of the Cleveland's Glenville neighborhood most famous for generating numerous standout OSU football players. Some of the streets off of St. Clair are prominently featured in the lyrics of local rap artists. I live ~15 minutes away from there, know the area pretty well, and I would agree that the majority if it is an "F" neighborhood. Rock bottom rents, massive vacancies, tons of board ups, drug activity, violent crime, etc. 

That same zip code also contains Bratenahl which couldn't be more distinct from the surrounding Cleveland neighborhoods. It's filled with beautiful $1m+ lakefront homes. It's one of the most popular areas for Cleveland's pro athletes and celebrities to call home. It complete breaks the scale James posted earlier because so it's far more upscale than the typical "A" neighborhood that he listed. While this is about as an extreme an example as I can think of, it really shows how you need to know how a city can change from street to street.

Tim

@Mike Trzaska 

Welcome to B.P.

Read the articles and forum posts and ask plenty of questions. There's tons of great information to be had and local contacts to be made here on the forums. 

We're fortunate we happen to live in the midwest. If investment property is your angle, people from all over the country would kill for the rent : price rations we see here in Cleveland. Many of my clients live in much more expensive areas of the country but invest here remotely in effort to find higher returns.

Best of luck to you,

Tim

@Olivia Cora 

Welcome to the site.

@John Holton 

Welcome to the site John. 

I work with John and his partner @James Wise and can tell you that John will be an asset to the community.

Tim

@Andrew Sweat 

Welcome to B.P. There's a lot of knowledge on this forum for all things related to real estate investing. Cleveland, Ohio and many other cities around the midwest are ripe for buy and hold investors looking for cash flow and strong rates of return. Feel free to bounce any questions you might have off of me.

Tim

@Xavier Allen 

Welcome to B.P. Always glad to see more Cleveland real estate professionals involved on the forums. 

Which neighborhoods in Cleveland proper do you target?

Tim