All Forum Posts by: Jad Boudiab

I am under contract on a duplex in Cleveland Heights thanks to Josh Janus from the Bigger Pockets community. The contact he shared unfortunately doesn't service Cleveland Heights.

Wanted to check with the community to see if anyone had a solid recommendation for PM in this area.

Hey Michael, happy to intro you with our Cleveland PM operation to see if there's synergy and fit.

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Cleveland, Ohio

Quote from @Craig Cushler:

Hello BP universe,

I'm also looking for a commercial lender in the Toledo area. I am interested in pulling out equity from an investment property and using it to purchase a multifamily building.

Hey @Craig Cushler we've got lending and an investor-friendly title connection for your Toledo deals. Happy to connect you.

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Cleveland, Ohio

Quote from @Rereloluwa Fatunmbi:

Hi,

Can you also send me referrals for a property management company and handymen

PM me, happy to connect you and see if you and our local teams are a fit.

1 Vote

Akron, Ohio

Quote from @Richard Hislop:

Hey Andrew! I'm looking to potential get my first retnal there in Cleveland, OH probably section 8 there as well. I was wondering the same thing have you been investing there and how has it been going and any contractor recommendations you can recommend to me? Thank you!

Shoot me a DM, happy to connect you with local teams.

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Quote from @Cheza M.:

Quote from @Allen W.:

@Cheza M. What is the company? I have a PM in cleveland and I'm not pleased at all... although payment isn't a problem

VanBaker company. I’ve always felt uncomfortable having them as my PM in day 1 when I bought my first turnkey property. What’s yours and why are you not pleased with yours? So people can be aware of the bad PMs to avoid

With a quick look on the state's website it doesn't seem like VanBaker is in any way licensed. I'd suggest working with a licensed firm, we all have special trust accounts registered with the state to ensure clients funds are handled properly.

Talk to @Carla Kordab she can assist you with more info on working with our team.

1 Vote

Cleveland, Ohio

Quote from @Kevin Lechuga:

Looking into investing in Cleveland Ohio area as well as Columbus . I live in Texas so looking for a agent who knows the areas well and can give me great insights for buying ! As well as a property manager .let me know if willing to work with me thanks again

Hey Kevin - welcome aboard. There are tons of local agents and PMs active here on BP.

I suggest flying in and meeting people in-person to learn about the market and the people you're working with. Talk to locals, get a better feel for the neighborhoods you're interested in, check out some active listings while here. Depending on where you're coming from, you may be surprised to find that most home in Cleveland are a century old.

Look into the lead paint ordinance and point of sale inspections as you continue to research the market.

@Shane Kelly is a good resource as a local realtor, and @Carla Kordab can help you out on the PM side.

1 Vote

Just like other commercial property, mixed use buildings trade on cap rates. Depends on the location, rents, NOI. There are a bunch of agents on here that know investment real estate and can help out with valuation. Will need more info to assess.

Some general info to consider.

- Buyers don't like retail right now, you'll find a mixed use building trading for less than a true residential apartment building.

- There's usually not many concentrated comps for mixed use in Cleveland. An appraiser may use "comps" from 5 miles away as that might be the nearest recently sold comparable building. This could be a good or a bad thing depending on your property location.

1 Vote

Originally posted by @Naimah Lewis:

This is a buy and hold rental property investment. I purchased the property for 20k. Cash flow 1300 minimum

Depending on where this is on the west side of Cleveland, there's a good chance this duplex once fully renovated is worth north of $100k. Some pockets are worth less, but generally in today's market this is a reasonable claim.

You can likely take that reno cost down a bit. $30-40k per unit reno is on the high side.

1 Vote

Hey @Damein White - BP is a good starting point. Making a trip out to Cleveland is not a bad idea for a newer investor, nothing replaces a face-to-face.

Check out these articles I put out a little while back. They're a good starting point for out-of-town investors.

Understanding the Cleveland Area Submarkets

https://www.biggerpockets.com/...

Understanding Cleveland Area Taxes

https://www.biggerpockets.com/...

1 Vote

This is timely, here's your answer.

2 Votes

All Forum Posts by: Jad Boudiab

Jad Boudiab has started 4 posts and replied 244 times.

Post: Property Manager in Cleveland Heights

Post: Ohio Mortgage Broker

Post: New Investor, Out of State, Need Property Mgmt and Handyman Referrals In Ohio

Post: Cleveland, OH Contractor

Post: How to file a complaint against a PM in Ohio Cleveland?

Post: Looking for my Core 4!

Post: Cleveland Mixed Use Property Sales

Post: First Investment Property Needs Full Rehab

Post: Any Cleveland Ohio investors willing to network

Post: Ohio Tenant or Landlord Favored State?