All Forum Posts by: David Olson

@James Maradits @Account Closed So I have a question I would like to ask regarding population growth and it's impact on the Cleveland market for 2-4 unit properties. According to USA.com, pretty much all of Cleveland and the surrounding areas have had a well below avg growth rate vs the national avg of 11.61%.  Have any of you seen this impact the rental market?

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Population Growth Rate Rank of City within 15 miles of Cleveland, OH with population more than 2,000

So I have a question I would like to ask regarding population growth and it's impact on the Cleveland and Pittsburgh markets for 2-4 unit properties. According to USA.com, both of these cities have had a well below avg growth rate vs the national avg of 11.61%. Only a few suburbs within a 15 mile radius even meet or exceed the national avg of 11.61%. Has anyone seen a decline in the rental markets or found it hard to keep units fully occupied in these areas? 

When clicking on the links you can select "Show Results On Map" on the top of the page to get a better view.

The hyperlinks below are filtered based upon the links description.  

Population Growth Rate Rank of City within 15 miles of Cleveland, OH with population more than 2,000

Population Growth Rate Rank of City within 15 miles of Pittsburgh, PA with population more than 2,000

@Whitney Breedlove In my experiences you should place the offer and find the contractor / inspector between the time you submit the offer to the time it is accepted or rejected. Reason being is that you should have the option period anyways so you can always back out if something significant is found. If it is a great deal like you mentioned it will likely be gone by the time you find and schedule a GC to take a visit. Best of luck and I hope you get the property!! 

P.S. I placed an offer in Baytown and Texas City two weeks ago. Lost both but good to see that you're actively placing offers!!

@Daryl Anderson I found a list of specific class neighborhoods through an article on here by @James Wise. It was form November 2016 so the list below might have changed since then. With that said the areas below are where I have been looking. Feel free to tear it apart or give specific areas where it would be a no go!!

@Account Closed I read through your profile and I must say those projects are impressive with a quick turnaround! Also good to see that you come highly recommended from James can rehab to rent and rehab to flip whereas some seem to get those two intermingled. I have not booked the trip yet as I am trying to get my points of contact setup prior to my visit so my time is well spent with appointments all day everyday I am there. Hopefully within 30-45 days that will happen. Preferably sooner.   

Class A:

Hunting Valley
Orange
Bratenahl
Gates Mills
Bentleyville
Solon
Hudson
Pepper Pike
Waite Hill
Beachwood
Avon Lake
Kirtland
Macedonia
Bay Village
Avon
Strongsville
Westlake
Broadview Heights
Shaker Heights
North Royalton
University Heights
North Olmsted
Middleburg Heights
Chagrin Falls

Class B:
South Euclid
Parma
Brook Park
Berea
Lakewood
Garfield Heights
Brooklyn
Euclid
44118
44113
Cleveland Heights

Class C:
44144
Bedford
44135
Bedford Heights
Maple Heights
Warrensville Heights
Newburgh Heights
44109
44135
44111

@Nathan Golding hit the nail on the head. Student Loan debt, in my opinion, will be the next card to fall that will cause a collapse. We're told from kindergarten through high-school that a degree is the only way to make a living. This might have been true in the 60's-90's but not so much now. So you have all these students going $75k-$125k or higher in debt then get a job making $35k-$50k when they graduate.   

Just chiming in here to bump this post up. I'm looking to travel to Cleveland in the near future and need a list of GC's I can meet with during my visit as well as a HML, Lawyers, Realtors, Wholesalers, Property Managers, Banks etc. For now I'll take the GC contacts though.

@Nancy Truong No specific ones really. I just go to the ones that I can make that have anything to do with real estate. Meetup.com has a handful as well that I have found and plan to go to this month and next.  

@Nancy Truong welcome to BP!! I would definitely check out the "Events" section under the "Network" tool bar on the top of the website. I have been to a few meetups and it has been very beneficial in meeting lenders, GC's, property managers, like minded investors etc. 

@Darrion M. Woods congrats on getting the property! How did you come across it? MLS, Wholesaler, Craigslist? I would reach out to Fast Track Remodeling in Houston. I personally have not worked with them as one of the properties I recently made an offer on is outside of there covered area, but they come highly recommended and I will be calling them for sure when the time comes.

@Michael Pittman yes there is an agent representing it for a bank out of state and the form I signed today was a TREC form " Addendum Concerning Right To Terminate Due To Lender's Appraisal"