All Forum Posts by: John Koster

Los Angeles investors who invest in Cleveland are meeting again for happy hour to talk real estate!  Join us if you want to mingle with other new and experienced investors. This is just an informal hang out. No presentations will be given.

October 23rd 6:00-9:00 PM

EP & LP Rooftop Bar

603 N. La Cienega West Hollywood, CA 90069

Je parle un peu de française et Je pense te comprendre?  Collinwood est un mauvais quartier sauf près Euclid.  J'investirais dans Euclid avant Collinwood.  

Conventional financing is possible.  I have a loan that originated in 2017 for $30K.  I would refer the bank, but they have recently been bought by a larger bank, so I'm not sure the new bank originates loans of that size.  Conventional loans under $50K are not common, but they exist.   I would search smaller local and regional banks as well as credit unions in your area.  

Yes it is.

My first investment in Cleveland was a duplex on W 133rd. It has treated me alright, but if I were starting over I would go with a SFR. In my experience single family residences cash flow much better than duplexes. Turnover is much higher and people tend to treat single family homes as more of their own. I have two duplexes in Cleveland and I usually have at least 1 tenant turnover in each, every year.

I grew up on the west side, so I am biased. But if I were starting out right now I would buy a SFR in the West Park area (west of W 140th) or in Parma. Parma, which I failed to mention above, is a working/middle class suburb with tax rates at or below Cleveland Proper. Just make sure whatever you buy cash flows. After recent appreciation in those areas, not every property cash flows.

Good luck!

@Bree Najera

You can find rent ready duplexes in the 44111 zip code for 110K and under.  I don't know if I would consider most of them "fully renovated" though.  Most multi-family in Cleveland in that price range are older, pre-1930 structures.   I would look in between west of 117th street and 140th street.   There are also plenty of these in the Old Brooklyn neighborhood (44109)  and in a few suburbs like Euclid and Garfield Heights.   As it has been stated before though, beware of the taxes in the suburbs.  Taxes in Cleveland vary by suburb and come in between 2 and 4.3% of property value.   Garfield Heights is one of those high tax areas.  

@Bree Najera

5 Days away!  For all those attending, spread the word!  For some reason BP put the Event post in "Marketplace" even though it was created in "Events" and my efforts to move it to "Events" have been unsuccessful.   

See ya Wednesday!

That is correct.  Your taxes are based on the purchased price and are reassessed every 3 years. 

One more time!  Los Angeles investors who invest or are interested in investing in Cleveland are meeting for happy hour once again to talk real estate.  Informal hang out.  No presentations.  See you there!

EP & LP Rooftop Bar

603 N. La Cienega. West Hollywood, CA 90069

@Sammy Lyon @Shiva Bhaskar @Jared Lichtin @Antoine Martel

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