All Forum Posts by: David Terbeek

@Bob Collett

As a reputable management company I have a long list of the same stories from investors who used unlicensed, unqualified property management companies and have asked us to clean up the mess.  Owners invest in their property, invest in the management as well.  You should expect timely statements and same day responses as part of the standard, minimum service.

Bob, I will PM you, maybe we can have a cup of coffee and network.

Benjamin-  I have worked with the Home Team many times in the past, PM me for the contact information.

Spencer-  The city of Cleveland itself does not have a Point of Sale inspection however the neighborhoods vary considerably.   Staying in a suburb and working through the POS may well be worth the investment for the associated stability.  There are tons of articles if you Google Cleveland's neighborhoods.  The best thing to do is to work with a local professional to guide you through the nuances of each area.

@James Hunt   

Time of Event: 01/26/2017 at 06:00PM
Location: 18590 Bagley Rd, Middleburg Heights, OH 44130
Fee to Attend: Free

Keith-  The westside certainly gets all of the buzz but there are some opportunities on the east side.  We have clients that have bought and held in Collinwood, with the Waterloo District that has been revitalized.  The Cedar / Lee area looks pretty similar to a Maple Heights when you drive through.  I know a local guy that is very active in Slavic Village where they are trying to revitalize the Fleet Rd. corridor.  While the west is a safer bet all around, I wouldn't write off the deals in the east.

@Nathan Gornto had a great point, there is a lot of education and information that can be found from the licensing process.  I do see some wholesalers and investors blatantly breaking laws.  Chances are they won't get caught but wouldn't it be better to learn to avoid the pitfalls from the beginning.

Benjamin- The nice part of having a license is unlimited access to the MLS. You also have the ability to list or sell for family, friends, etc as a side job.

However, there are some disclosure concerns.  I am speaking about OH and CA may be different but here you are required to disclose that you are a licensed agent buying the property.  You can not be a straw buyer or hide your identity behind a business entity.  It also gets tricky if you are thinking about wholesaling because you have to give certain disclosure and diligence to certain parties.   This is not intended to be legal advice, you should contact an attorney and speak with the pros and cons with a local broker.

Jacob-  I think it is great that you have aggressive goals, although I agree that it might be very difficult to achieve.  Euclid, Garfield Heights and Parma come to mind as perhaps fitting that model.  You might also wish to check out some westside neighborhoods.  As mentioned above Tremont, Ohio City or West Park.

Tony-  Those numbers are repeatable at or better in the Old Brooklyn and Parma areas.  

Emmanual-  I have been networking with a lender that is stating they can lend to foreigners if you are looking for financing on your multi-family.  PM if you would like the contact info.

Ryan-  I have a couple guys that specialize in investor deals.  Both are brokers with lots of lending options available.  PM me for their contact information.