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All Forum Posts by: Joshua Janus

Joshua Janus has started 1 posts and replied 1290 times.

Post: What cities are still great to invest in

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Erich Oertel:

What cities are still great to invest in ?


Cleveland, Ohio is a great market to focus on for cash flow and specific pockets have gone up 2x and upwards of 4x in the last 5-10 years even!
Examples:
44109 (median home price went from roughly 50k to 125k in 8 years)
https://www.zillow.com/home-values/77009/cleveland-oh-44109/
44102 (median home price went from roughly 30k to 120k in 8 years)
https://www.zillow.com/home-values/77002/cleveland-oh-44102/
44106 (median home price went from roughly 100k to 200k in 8 years)
https://www.zillow.com/home-values/77006/cleveland-oh-44106/

It has the highest rents on average in all of Ohio for major cities and the median home value is not even in the top 3. That creates a really nice price / rent ratio which is favorable for investors looking for cash flow. The median home price is also very low nationwide which creates a low barrier to entry. You can get solid cash-flowing single families in the 90-120k price range and duplexes in the 130-180k price range. There are cheaper one’s in D/F areas but I would be careful as those can create a laundry list of additional issues. In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-r...

Post: Landscaping/Mowing Service Recommendations

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @David De La Torre:

Hello Cleveland Investors and Landlords,

What do you think is an affordable price for getting your grass cut monthly by mowing/landscaping services? I have an investment property with a small front yard and average sized backyard. 

I also welcome your recommendations for landscapers in the Cleveland area!

Thank you


 I do 2 cuts per month at $35/lawn. That's a reasonable going rate for the area. 

Post: Cleveland investor referrals

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Tyler Livingstone:

Hello everyone

Im looking to invest in the Cleveland suburbs. Parma, Parma Heights, Euclid, South Euclid, Cleveland heights. Areas like these. Looking for feedback from investors who activaly invest in the Cleveland area. Looking at SFH. Hoping to purchase a property in the 120-130 range and complete cosmetic repairs. Nothing major paint, flooring, kitchen/bathroom facelift. We are from Canada so we will need the following.

Realtor/ prpoerty manager

In other areas we have had good success with a PM company that has Realtors on staff. We would be looking for someone to guide us in the right areas and assist us in analyzing the properties. Since we will be completing renovations it would be necessary for them to pop in every once and a while to ensure the contractor is doing what they say they are.

General contractor
Looking for an insured reputable contractor. Ideally one experienced with remote investors. Willing to sign a fair contract for both contractor and investor.

I know there are a lot of investors in the area so any referrals would be greatly appreciated.

Thanks

Tyler Livingstone


 Glad you are checking out the Cleveland market! That price point is doable in those areas it'll just need a good amount of cosmetic work to be rent ready. There are plenty of investor friendly realtors and investors on this forum that you can reach out to. 

Post: Turnkey rental markets

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Pradeep Varghese:

Would like to know which cities cash flow well for turnkey properties. Also, if someone can recommend a company who sells turnkey properties in these cash flowing cities. Thanks.


 Cleveland, Ohio has a good inventory of turnkey single families and duplexes at affordable prices. 

Post: New To BRRRR

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Seth Gordon:

Good afternoon,

I am new to the BRRRR community and wanted to see if anyone has any good information to share. I currently work for a big GC company in Columbus, Ohio, and have done both rehabs and new builds. I am wanting to start real estate investing to become financially free in the future. Any tips or pointing me in the right direction will be greatly appreciated. If anyone has any questions for me, feel free to ask as I also have a lot of information on the construction side of things as I have rehabbed over 200 units in multifamily housing projects for the GC I work for.

Thank you!


 Hey first off that's awesome you have a ton of experience with contracting at this point! So pricing projects out and creating efficient scopes of work should not be an issue. Now you need to focus on finding properties with spread. That can be difficult in Columbus, OH and you'll need to find the deals off market. You could do direct to seller marketing (cold calling, texting, mailers etc.) and or connect with some of the great agents in the area that are investor friendly who already have deal flow for off market deals. I would consider checking out the tertiary markets outside of Columbus as well which have more distressed properties. 

Post: Reliable contractor needed

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Teema Marshall:

I'm interested in the Ohio area. But also I need a reliable contractor for flip properties 


I can send you references for contractors in the Cleveland area. It's competitive though and you will probably need to fight for the GC's time. Once you get more projects going and become more of an asset to them then they will prioritize you.

Post: Need Advice: How Is Everyone Finding Good Flip Deals These Days?

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Sam Shikiar:

Hi everyone!

I've been flipping houses and investing in multi-family properties for several years now, but I've hit a bit of a snag recently. My primary source of deals has been wholesalers, but the numbers just haven’t been aligning lately. I focus on the Columbus and Cincinnati markets. I’d love to hear how other successful flippers are finding great deals in today’s market. Any tips or strategies that are working well for you right now? Thanks in advance!


 I buy and sell 100+ properties per year in Cleveland, Ohio and fundamentally the deals are found through cold calling. 

Post: New to Investing - Excited to Get Started!

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Joe Gellenbeck:

Hi All,

I am new to this community and real estate investing in general, but I'm excited to jump in. I'll be specifically looking to start in the Cincinnati, Ohio and lean towards targeting buy and hold single family and potentially multi family as well.

Any advice is appreciated and I look forward to connecting.

 Glad you got on BiggerPockets! Check out all of the helpful forum posts and resources on here relating to Cinci real estate. 

@Sam McCormack is a great agent there that helps plenty of investors. 

Post: How to structure a partnership for real estate deal

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Sharad Bagri:

We are a few friends looking to invest in multifamily apartments (<4 units) in Ohio. We haven't done real estate deals together earlier. We need guidance on how to structure our partnerships. Are there templates that can work as good starting points for us. 

Also, we will be doing standard downpayments and financing. So, should we create LLC and get the loan in the name of LLC or should we take the loan individually.

Should we have umbrella insurance to protect ourselves?


 Definitely hire an attorney to draft up the operating agreement. I also use the spreadsheet below to assign responsibilities and roles for a 50/50 partnership this way there aren't future stones unturned. 

https://docs.google.com/spreadsheets/d/1n_bMwHPxIYY6WeE_tdCQ...

Post: High Property Tax Is Eating into My Cash Flow

Joshua Janus
Posted
  • Realtor
  • Cleveland, OH
  • Posts 1,311
  • Votes 1,493
Quote from @Shaheen Ahmed:

Looking fo my first rental property in Mobile, Al, Columbus Ohio but the property taxes is eating into my cash flow. What gives? 

 Duplexes tend to cash flow better in Columbus versus single families. 

Reafco is an investor friendly brokerage there that has plenty of off market deals to check out!