All Forum Posts by: Mark Sandvig

I look forward to joining this group before long! Moving to the Akron area in June...

@Jill F. Thanks for your response! I'm realizing I should have been clearer with my OP. I am looking to live in one of the aforementioned communities, but part of my focus on them is to give me quality access to good areas for buy-and-hold opportunities in both Akron and Cleveland. I see that you are in Akron and Barberton with your investments. Any other communities you recommend I look at in the Akron area? With Akron being a smaller city, have you had vacancy issues? I'd love to know more about the cashflow numbers of your properties. 

Hello everyone! My family and I are planning to relocate to northeast Ohio next summer to be near family (currently live in Fairlawn, west of Akron). My plan is to get into real estate sales, while continuing to build my rental portfolio (focusing at the outset on SFH in solid school districts and small multis). While our family is nearer to Akron, my thought is that it would make the most sense to situate myself in a community between Akron and Cleveland to take advantage of a higher level of volume and opportunity that I understand there to be in Cleveland.

Any recommendations on particular communities? Anyone want to make a strong overture in favor of focusing my efforts in Akron as opposed to suburbs of Cleveland? Currently looking in the Broadview Heights, Brecksville, North Royalton, Hudson, and Stow areas primarily.

Thanks in advance for your input!

Hi Amanda! I'm here in STL as well and have a couple of properties under my belt. If you know that you want a 4-plex, I would recommend trying to find one rather than converting back to one. In converting back to a 4-plex, you're putting 2 new kitchens back in and probably doing a fair bit of reconfiguring. Can get expensive fast. Are you just looking on the MLS at this point?

I own a mixed use property on a corner lot in St. Louis (Tower grove area). There are 2 commercial spaces and 2 residential spaces on the property. There is a good-sized garage in back that I am considering converting into a 1 BR apartment. The trick is that the entrance to this property (if converted) would be from the side street of what the official property address is. Does anyone know how I would go about getting an additional address on the side street? In other words, it's not as simple as just adding a B or a C as is common in units that all face the same street. 

Any recommendations would be welcome!

@Remington Lyman @Jack Smith Thanks to both for your input re: Columbus. I'm aware that Columbus has seen substantial growth in a number of economic markets in the last decade and probably is the most desirable city in Ohio (at least as far as rent rates and appreciation go). I think it is unlikely that my family would move to Columbus, though investing there could be a real possibility. I'd like to keep the rentals that I personally manage within an hour if possible, so I'll continue to explore that. 

@Ryan Ingram Helpful to hear of your experience and letting me know about Matt. I may have to connect with him. I know that Cleveland is a much more dynamic market than Canton/Akron, and is closer than Columbus. Is 2% SFRs what you have focused on? Have you found many 2% multis in the Dayton area?

Hi! I'm a relatively new investor (2 small multi-family units) located in St. Louis, MO. My family and I are considering a move to northeast Ohio (likely somewhere between Akron and Cleveland) in the next year. We are growing in our love for real estate and very much desire to invest wherever we live (not 100% sure I want to go all-in on the long-distance game just yet).

For those who live/work/invest/sell in northeast Ohio, I would love your input!

- What trends have you observed in the area over the last decade? (population movement, rents, property values, etc.)

- What asset classes have found to be most profitable? Price point within that asset class?

- Things you would have done differently if you were starting over in the area.

Thanks in advance for your input!

Mark

@Mitch Messer, I'm interested in the same thing. Would you mind connecting me with your colleagues? Thanks for considering!

- Mark

Hi! I'm new to the BP forums and would appreciate some insight from you all. I got started in the REI world 5 years ago here in St. Louis by house hacking my way into a duplex. We moved to a SFH 2.5 years ago, but retained the duplex and have it operating as a 1% property right now. Well, we got the itch again and are under contract to purchase and move into a mixed use property 5-10 minutes from where we currently are. The property is comprised of:

• 1) 1500 sf townhome with 3 br and 1.5 ba where my family will live,
  
• 2), a 2 BR apartment that is currently rented slightly below market rates with the lease expiring in September, 
• 3) a ~900 SF commercial space that is currently leased through next June, and 
• 4) a small office that is unused by the current commercial tenant but is not separated out in their lease.

Things I could use your wisdom on:

1) I am looking at separating out the small office space and renting it separately. Any tips on how I do that before next June?

2) Any other advice from people who have done mixed use property before? 

Thanks all!