All Forum Posts by: George H.

Do any members have experience with this service?

I saw it listed in the marketplace section of the forum. I know I can start a check on someone and I know the prospective tenant can get a report on themselves. What I am wondering is if the tenant generates a report can it be forwarded to me?

Any other recommendations for tenant screening reports?

Thanks,

George

A coworker I had known from a previous assignment got me interested enough to listen to the Podcasts. I have since bought Brandon's books on rental property investing as well as the book on land lording.  Great reads, both educational and entertaining.

I am hoping to close on my first investment property next month.

Hi,

I'm putting in an offer for a duplex in the Cleveland Heights area. This is a VA loan and the pm the realtor recommended has not returned my phone call after 3 days. Not a good sign to me. As a VA property I have to intend to live there. I will and may upgrade at a later date, but want advice as I am usually deployed overseas and think a pm might be the way to go for this first rental.

Any advice would be appreciated.

@rob

I believe I HAVE to move in. At least for a short time to prove my intent. Anyways, I plan on moving in. I think I can upgrade later on.

Again, I'm new here and my interest is in cash flow properties. I am VA oved, so can buy up to 4 units. There seem to be many quads, but the rents seem to be not so good. I am not from the Ohio area, but after some research I think the market there can be worked. I am from the DC/ Md area but looking for cash flow properties as I am older and spend most of my time deployed as a merchant marine. I've been focusing on Cleveland/Lakewood.

Any suggestions?

Thanks, 

George

@Cara Lonsdale

Thanks Cara. Yes, I haves read James posts and have looked at his map. I plan to print it out and research any area I think might fit what I’m looking for. And yes, it does seem he is the go-to guy for info on the Cleveland area.

@James Wise. 

Thank you James for responding, as well as for all your very generous contributions to BP that are no doubt a big help to anyone looking to invest in the Cleveland market. 

@Tom Ott

Thanks Tom. The guy handling my loan (from Ohio) also mentioned Euclid. Willowick is a new one to me. Besides the higher taxes, I understand Cleveland Heights also can have POS issues. I would think that there could be a contingency that it be clear prior to close. Please correct me if I’m wrong.

Yes, lots of neighborhoods and even bad sections of a good neighborhood it seems.

@Ian Kurela 

Thanks for responding Ian. Yes, it seems many agree Lakewood and Cleveland Heights is a good place to s tart. Thanks for your input on Parma. As this is my first investment, I probably don’t want to start in what might be considered a lower class area. Again, I’m not from the area and the fact I’m deployed much of the year is good reason to make this as easy as possible.I do plan on spending time when I get back to driving the neighborhoods.

@Jonathan Collins

Thanks Jonathan. Yes, it does appear from looking at listing/sale prices that Lakewood might be a bit hot, but as this is a VA loan and I'm only required to reside there a year, then can rent it out completely, combined with the fact I'm a newb, makes me think a property in a ‘hot' market will get me better tenants, and hopefully less vacancy. Not being a home run deal is not so much an issue as striking out with a bad deal.

Thank you James. 

I have seen mainly duplexes in the Lakewood area with a few units with a 3rd suite. The same with Cleveland Heights. Cleveland Heights seems to be generally less expensive than Lakewood. I would assume the rents would correspond accordingly.

Hi, my name is George. I have been following BP for over a year thanks to a co-worker/investor. This exposure has prompted me to use a VA benefit that I thought had expired.

I have been approved for a VA loan and have settled on Cleveland as the place to start. My focus is on cash flow more than appreciation. As required with a VA loan I am aware that I need to move in within 2 months and reside in the property for one year, and then it can be fully rented.

 I work as a merchant marine for the US government and I am generally deployed for maybe half the year. Because I am gone much of the time I am looking for areas that are relatively cheap to get into, cash flow well and rent easily.

Areas I have been looking at are Lakewood, Cleveland Heights, Parma. I would appreciate any info, suggestions local members might have.

Thanks