All Forum Posts by: Jared Smith

Hello BP Community! 

I am closing on my 4th property and this one is a +4,000 sq. ft. single family in the heart of Tremont. I am looking for good sub-contractors/referrals for cleaning, coating wood floors/carpeting, and interior painting.  My new home was built in 1880 and I plan on restoring it back to its former glory! 

Please let me know any good people to do this work in Tremont - (Trying to stay away from home advisor/angie's list) and use word of mouth. 

Also, I need to chop down a giant sycamore tree and the best quote I got was $2,100.00...…

Any help would be greatly appreciated!

-Jared

Count me in for 2!

After self-managing for +6 yrs. I have officially hired my dad who loves it (believe it or not)! In the Cleveland Market, I am having other investors/friends/colleagues reach out on property management. Outside of the standard 10% monthly rate and 1 month's rent for landing a showing, what are some good ways to structure a property mgt contract? such as hourly rates or flat rates for management, projects as well for overseeing contractors?

Also, do you recommend accepting CMHA - Section 8 Housing?

Please and thanks!

Jared

After self-managing for +6 yrs. I have officially hired my dad who loves it (believe it or not)! In the Cleveland Market, I am having other investors/friends/colleagues reach out on property management. Outside of the standard 10% monthly rate and 1 month's rent for landing a showing, what are some good ways to structure a property mgt contract? such as hourly rates or flat rates for management, projects as well for overseeing contractors?

Also, do you recommend accepting CMHA - Section 8 Housing?

Please and thanks!

Jared

@James Wise Believe it or not, I went to Padua High School with Tom and worked at Enterprise together back in the day - I appreciate it!  

Also, after self-managing for +6 yrs. I have officially hired my dad who loves it (believe it or not)!  In the Cleveland Market, I am having other investors/friends/colleagues reach out on property management.  Outside of the standard 10% monthly rate and 1 month's rent for landing a showing, what are some good ways to structure a property mgt contract? such as hourly rates or flat rates for projects as well for overseeing contractors? 

Lastly, do you recommend accepting CMHA - Section 8 Housing?

Please and thanks!

Jared

@Federico Gutierrez Sorry only 1 photo showed up on the post! I have the before AND after pics on my page - thanks!

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cleveland.

I just completed my 3rd major kitchen renovation in my 1st multi-family home in the historic Tremont area in Cleveland, OH. The best part is that I oversaw the whole project from start to finish from Mesa, AZ!

How to Scale after 5 Rental Income Properties?

I just started listening to BP Podcast a few months ago after completing the Rental Income Podcast with Dan Lane. I am enjoying it and listen while I am running or traveling. I am in the process of buying my 4th home. I have Multi Family and Single Family homes and I work full time where the pay is way too high to walk away. I say this because I now live in AZ where I have properties (Turn Key) and also in OH where my projects are intense - In OH, I am long distance BRRR'ing and long distance land lording which keeps it fun!

In regards to funding, I am using my HELOC account for the down payment. I have been saving up for 20% down payment and then buying another property. I plan on doing this one more time next year, but then after I acquire 5 properties it will be hard to acquire more due to my debt/income ratio even with an 814 credit score and no debt other than my rental income properties.

I have a serious capacity for stress and risk. I stay extremely aggressive in work, investments and in life! With the stock market being extremely volatile, just like many of the members in the BP Community, is the reason why I love real estate so much! With that being said, I wanted to reach out with my question:

After I acquire 5 properties (where my goal long term goal is to acquire 10), do you recommend paying off the 5 for a year or two until the market correction unfolds or look for other types of funding? In order for me to scale outside of just being a sole individual real estate investor, I would need some guidance on partnerships and outside funding as I have been using traditional financing.

Please send me your recommendations as I am reading lots of books and articles and networking to add more weapons to my tool belt over the next 5 years!

Thanks,

Jared

I just started listening to BP Podcast a few months ago after completing the Rental Income Podcast with Dan Lane. I am enjoying it and listen while I am running or traveling. I am in the process of buying my 4th home. I have Multi Family and Single Family homes and I work full time where the pay is way too high to walk away. I say this because I now live in AZ where I have properties (Turn Key) and also in OH where my projects are intense - In OH, I am long distance BRRR'ing and long distance land lording which keeps it fun!

In regards to funding, I am using my HELOC account for the down payment. I have been saving up for 20% down payment and then buying another property. I plan on doing this one more time next year, but then after I acquire 5 properties it will be hard to acquire more due to my debt/income ratio even with an 814 credit score and no debt other than my rental income properties.

I have a serious capacity for stress and risk. I stay extremely aggressive in work, investments and in life! With the stock market being extremely volatile, just like many of the members in the BP Community, is the reason why I love real estate so much! With that being said, I wanted to reach out with my question:

After I acquire 5 properties (where my goal long term goal is to acquire 10), do you recommend paying off the 5 for a year or two until the market correction unfolds or look for other types of funding? In order for me to scale outside of just being a sole individual real estate investor, I would need some guidance on partnerships and outside funding as I have been using traditional financing.

Please send me your recommendations as I am reading lots of books and articles and networking to add more weapons to my tool belt over the next 5 years!

-Jared

I am purchasing a property in Cleveland, Ohio and I am looking for any recommendations for some that specializes in restoring stain glass windows from the 1880's?  Any help would be much appreciated!

-Jared