All Forum Posts by: Miles Presha

@Charlene Isoh, how are you liking your Cleveland investment?  I'm looking to do the same soon, and was wondering how much you had to put down?  I know the price points there are low.  Good cashflow?

@David Leggett I'm late to this thread but I think if you factor is debt service (which maybe the other person is) Then perhaps you're not really clearing that full $900 a month.  I also feel it's safe to assume you can take home 50% of the rent and that would be your cashflow if you're lucky.  But what do I know?  I am looking at Cleveland all the time and get videos from James Wise on the regular.  Either way I think it's a great market to buy into, and I plan on it as soon as I'm able. 

Question fellas, As an out of town newbie investor, what would you recommend as a first purchase in Cleveland?   Let's say a budget of 30K.    Possible to get a nice quad or triplex to cashflow in a decent area.  And what do you think about  section 8 for out of staters?

Cheers,

Miles

Question fellas, As an out of town newbie investor, what would you recommend as a first purchase in Cleveland?   Let's say a budget of 30K.    Possible to get a nice quad or triplex to cashflow in a decent area.  And what do you think about  section 8 for out of staers?

Cheers,

Miles

Thanks guys....I think my wife really just wants to look out for this lady. She's an 88 year old in Compton lloking to liquidate and move in with her friend. Pretty sure she doesn't have a CPA or plans to buy more investment property. She's kivinbg in a moldy dark apartment building that she owns. Just trying to help her out w the best advice if we can. We'll see about getting her in touch w a CPA. Cheers...

My wife's client looks to clear about 500 K after selling her 4unit property. What's her best option to avoid heavy capital gains? An annuity? She's buying another home moving to TX. MY

@Ken Virzi Ken - I just read this post as I'm looking onto Holton Wise but specifically thinking about Cleveland properties. Also in Cali, I plan to do the long distance thing. How has it been working for you? What are the prices like and are you having to travel there much? Sorry for the questions just trying to get an idea of what some expectations are. Thanks.... Miles

@James Wise -- First off , thanks for replying! I read your guide to the Cleveland neighborhoods and for now it looks like, yes, the D class zip codes fit my budget and look promising for section 8 investing. I've seen some of your videos, and I like the idea you mentioned of developing a portfolio of 2-4 unit properties in this area. I think it's realistic for a newbie like me to get into the multifamily space. I'd love to keep in touch and even possibly do lunch when I come to the Cleveland area. Are these low priced homes able to be financed or are they all cash?

@Kristopher Hanks... sorry about the typos. Curious about PMs and just overall thoughts on the section 8 niche. I've had moderate success as a mobile hoke investor in L.A. but would like to branch out into multifamily and Ohio seems to have cheap buy in. Willing to do section 8....

@Kristopher Hanks... I am responding to this thread really late,but I've doing research on East Cleveland and Dayton for possible section 8 investing. Curious to what advice you might have. Pas, etc...