All Forum Posts by: Jack Krusinski

Making sure you have the correct home warranty company is huge! Americas Preferred Home Warranty is a company I recommend, and they have always taken care of our clients. A home warranty is like insurance. Most of the time, you don't want to pay for it, but it may or may not come in handy. Overall, I would say the Home Warranty is a waste of money most of the time, but sometimes it can help save you big. It is a question of personal risk tolerance level. 

I would research other markets and talk with property managers, investors, and real estate agents. See if you can get comfortable enough to invest out of state. Suppose you can't get comfortable investing out of state, then invest locally! But I would at least do market research first.  Take your time. Do your research and ensure you are confident in your chosen market. 

Thank you for sharing your experience Ryan! Very helpful for all Cleveland real estate investors.  

Hi Adam,

 To generate interest before the property is ready to reduce vacancy time is a good idea. I would make sure to describe what you will be doing to the property. For example, write that it will be rehabbed with all new flooring, fixtures, cabinets, etc. You don't want to scare away renters, and if you only post a single photo with no interior photos and no description, I feel that may scare renters away. 

I am an investor and an agent here in Cleveland, Ohio, and the Cleveland Market has been good to us. In Cleveland, you can find properties that cash flow and achieve some appreciation. Overall, it is a good hybrid market with cash flow and some appreciation. There are a lot of big companies in the greater Cleveland area which makes it a pretty stable market. 

Hello Javae, and thank you for your service. Buying out of state is a big first step and can seem overwelling at first. However, it can be broken down into three simple Steps.

1. Identify a few markets (do your research) to invest in

2. Talk/interview agents and property managers. 

3. Start looking at properties and making offers! 

East Cleveland, Slavic Village, and South Collinwood are the main ones. Cleveland can be a tricky market because you can be in a good zip code but in a bad neighborhood. For example, the 44109 zip code has some good areas, right by Metro Health's main campus or Old Brooklyn. Then some good some not so good areas. I would recommend consulting with a property manager and real estate agent for your search. 

Hi Andrew. I am a Realtor for investors here in the Cleveland area. For Property Management, I have a few recommendations for you! 

As a Real Estate Agent who works with many out-of-state investors, I recommend reaching out to realtors, mortgage lenders, and property managers through bigger pockets and the forums. Engaging multiple people in the search is a good way to keep all parties honest. That is realtors, contractors, loan officers, and property managers. For example, let's say you engage a realtor in your search. I would also engage a property manager and ensure that everything the relator tells you the property manager agrees with. That way, they are held accountable. 

Amy, I would first recommend identifying your real estate goals. Are you more focused on cash flow, appreciation, or a hybrid of both? Then start underwriting properties in each Market to see what performs the best for your goals. 

Cleveland is a great hybrid market for cash flow and appreciation. It offers a variety of jobs, but it is health care based. Also, something to consider is inventory in each market. You want to make sure that whatever your buy box is, is that your market offers inventory of that investment.