All Forum Posts by: Dan Sarao

Trevor, what is your strategy and goals? Are you looking to invest in your immediate area, or are you looking to invest at a distance.  Where are you located? This would be a good starting point. 

From their determine what kind of risk tolerance and return requirements you have.  Ohio has many markets.  It’s a very broad question to ask where in an entire state without knowing anything about you or what you are looking to accomplish.

Personal experience of rehabbing a home in a historical society, it is a pain and slows things down significantly. 

I agree with Tom. It’s a great market. Living in Boston and now Florida coast   markets I gravitated to Cleveland years ago because of its attractiveness in terms of price, rental demand and returns. 

Make sure you connect and lean on local, knowledgeable investors and realtors who are engulfed in the specific neighborhoods you are interested in.  Cleveland is a very street by street type of city.

George it absolutely depends on the neighborhood and the economics of the deal and return (what you get it for, the actual cost of repairs and the after repair market value supported by relevant comparable homes).   

Unless it is in a historical district (which has its own list of hassles and complications that should be considered) or it ancient I wouldn’t think of it much differently.  Older houses are pretty common in Cleveland.  

Just make sure that you have a good home inspector, like with any property.  Make sure things that relate to safety and the major components have been updated at some point. 

Welcome aboard Will.  

In terms of the analysis paralysis...Arm yourself with the knowledge and acquaintance of seasoned investors and analyze enough to feel comfortable, but once you hit that point dive in.  If you dont, you might never do it. 

I am not sure what your strategy is, or if you have a desire to do repairs or renovations, but if you go the off market route you will start off in a much better position both for equity and returns. Everyone is on the MLS looking at those same properties you are. Find a better way, or at least add off market properties to your arsenal at the top of your deal pipeline my friend. By the way, I tried for years to find deals in the northeast (Boston market). It's tough. Long-distance investing can be your friend.

I found this in a search. Is it still available? I know I am tardy to the party :) 

I found this helpful when I started investing in the Cleveland area.  I would agree with others to use this IN ADDITION TO other sources, such as your own research, other's opinions and maybe the best source is talking to realtors and/or other investors to get the nitty gritty.  Wise's guide is great, but I would have made a few mistakes at the least if i were to go generally by the zip codes as a whole.  Cleveland is a street by street case.  If you have an investor you are close with or a realtor you are working with ask lots of questions about specific streets, neighborhoods, etc.  

I am also an out of town investor, but very active for a while in Cleveland. More than happy to talk shop anytime just send me a note.

Welcome Ondrej!