All Forum Posts by: David Lauka

Thanks @Rob Gillespie I'm going to PM you if that's ok

Thank you

@Al D. for the insight on RITA.  Overall have you found the greater Cleveland market a viable investment?

Thank you @James Wise, that is very helpful!

Thank you @Al D. That is a great idea.  Do you by chance use a property manager in the area or do you manage on your own?

Thanks @Al D.! These properties are in Euclid proper and all of the Property Managers in the area that I've spoken to have told me that I, the owner of the property, would be responsible for paying this particular utility.  It would be great if I was somehow mistaken but the consensus seemed to be that I would need to pay that cost.  Thanks!

Thanks @Reaz Ahmed!

Hello BP!

I am considering purchasing a few SFR's in the greater Cleveland area (Euclid) and I've been made aware that the owner is responsible for paying the water and sewer bill. I was hoping to hear how some other people who invest in this market typically handle the bill (i.e. do you pay the bill and charge the tenant the bill amount or do you simply charge a higher rent). I've connected with a few property managers in the area who have told me that if I were to charge the tenant the water bill amount there is a good chance they may not pay. Are there any recommendations on how to best handle the water bill? Any insights are greatly appreciated, thanks!

Hello BP,

I am an out of state investor residing in Kalamazoo, MI, about 4 hours away from the Cleveland area and I was wondering if anyone had any recommendations for a good Property Manager in the Cleveland area.  I am looking to invest in multi-unit families and eventually commercial but am open to whatever is the best strategy in the area.  I am planning on taking a trip in the coming weeks to meet with people but for now am doing some introductory phone calls with a few PM's.  Thus far I've spoken with:

Holton Wise

REDS Realty

Jack Cornacio -

RE/MAX GLR Realty Advisors

Any feedback on these would be greatly appreciated as well as any further recommendations.  It appears that some PM's only focus on certain areas of Cleveland and others only on larger scale commercial properties.  Any insights into the hot areas/strategies, etc. for Cleveland would be appreciated.  Thanks!

Tanner Lauka

@Avi Garg Thanks, that's a great idea!

Hello BP - I am seeking a 6 month loan to purchase a 6 unit property in Kalamazoo, MI.  The property is already fully leased and turnkey style already bringing in $35,000 in rent/year.  Utilities, property taxes, snow removal, etc. were about 10k last year.  The asking price is  $140,000.    The property belongs to one of my property managers' other clients and she is already managing the property so it will be a very smooth transition and is a very safe bet.  I am open to hearing about any terms and conditions.  Please feel free to reach out if you  have any questions/concerns or if there is any additional information you'd like to help make a decision on lending.  My credit score is around 800 and I currently own one other investment property.  Thanks!