All Forum Posts by: Mike Furda

My partner and I are purchasing a piece of property near a state park that already has a cabin on it. There are 15 acres with this property, so we have room to build other rentals. We have seen some treehouse designs on airbnb and think it could be a good option. Does anybody have any experience with building these? I am looking for any design tips or ways to go about getting a quote on a new build.

Thanks!

@Andrew Weiner that makes sense. I appreciate your input!

@James Wise gotcha, thanks for the clarification!

Does anybody have a recommendation on a local bank to work with in Cleveland or surrounding suburbs? I am looking to purchase my second property in 2021 and everyone stresses how using a local bank can provide advantages in mortgages or refi. 

For my first property, I got my mortgage through Cross Country Mortgage (15yr 3.375%). I brought up refi since mortgage rates have dropped, but they said that I would save under 1k through the life of the loan. I expected it wouldn't be worth it since my remaining principal is below 80k, but figured it wouldn't hurt to ask. 

I'm not looking for a bank to refi right now, just one to grow with as I add investment properties.

Any Cleveland bank suggestions and tips on what to look for when exploring local bank options are welcome. Thanks!

@David Olson The grading of the list by James Wise is pretty accurate. The only change I would suggest is moving Lakewood to B from A. Especially the further west you go in Lakewood. Rent's are high there (relative to Cleveland) and it is very popular place for young professionals to live. Just my opinion.

@Remee Martin

Hey Remee, I lived in Cleveland for 4 years and know most of the different areas pretty well. If you want to reach out about any questions on areas I’d be more than willing to share what I know. Plus I don’t have anything to sell you haha. I just enjoy talking about the Cleveland market and would love to learn from your ideas too.

Hey Damein. I've been living in Cleveland for 4 years and am going to buy my second property in the next 8 months. I'd be up for talking about the market any time.

Hi Zach, I have lived in Cleveland for the last 4 years and the Ultimate Guide to Cleveland is relatively accurate. One thing I will say is that Lakewood is a very sought after place to live especially for young professionals. Low crime, entertaining night life (for Cleveland), and without having to deal with living in downtown. Although it is expensive there, I see it as a safe place to invest for the long term based on having good/consistent tennants.

Also, Brooklyn is a fine area and I would not worry about any of the riots. They were only really downtown and have not been happening recently.

Not sure on their minimum... yours might be too low. They did a good job with me on my 75k loan

Hi Kellan. I recently bought a place in Cleveland and used Cross Country Mortgage and they were great, just a tip if you are looking to get another property in the Cleveland area.