All Forum Posts by: Matt Rutter

I don't have any experience yet in real estate investing. My father held two two-unit apartments outside of Boston when I was growing up and I was always inspired by that. My ideal goal would be to invest in a diverse group of properties long-term in the Cleveland area.

Most of the properties I've been finding have been two-unit multi-families, and either:

A) In rough shape that need a lot of work that I don't have the experience doing, or

B) Are priced (or need repairs) at a level where the rental income would not provide a great cash on cash return.

It's been very frustrating on my own trying to find a good deal. I know they're out there! And I know there has to be a better way than what I'm doing right now. I have been actively reading everything I can on BiggerPockets, but really still unsure of where to get started with my first deal.

That's why I thought I'd post something on the forum to see if someone had any good advice on where to get started in the Cleveland market, areas to look in, investing with as little of your own money down as possible, etc. I know this is possible and I'd be happy to buy you a cup of coffee to pick your brain .

What prices are you seeing that are not appealing for a cash on cash perspective? Cleveland was rated the number 1 investment market in the U.S.

I guess the catch is most of the places I have been looking at have been MFH, usually 2 units, between $80,000 - $100,000. After viewing a few of them they definitely need some improvements, but even with rents where they had been they don't seem to yield anything worth wild. As a few other people mentioned, I might need to look at SFH instead as a start to get my feet wet.

SFR is going to yield a lower return. It sounds like you need to adjust your expectations to what the current state of the market is.

For sure! Exactly why I turned to BPs because I clearly have no idea what I'm doing to get started on the right track. :)

0 Votes

Cleveland, Ohio

Originally posted by @James Wise:

Originally posted by @Matt Rutter:

I'm looking for advice from like minded people that have experience with real estate investing in the Cleveland market.

Most of the properties I've been finding have been two-unit multi-families, and either:

A) In rough shape that need a lot of work that I don't have the experience doing, or

B) Are priced (or need repairs) at a level where the rental income would not provide a great cash on cash return.

What prices are you seeing that are not appealing for a cash on cash perspective? Cleveland was rated the number 1 investment market in the U.S.

0 Votes

Cleveland, Ohio

Originally posted by @Tom Ott:

Originally posted by @Matt Rutter:

I'm looking for advice from like minded people that have experience with real estate investing in the Cleveland market.

Most of the properties I've been finding have been two-unit multi-families, and either:

A) In rough shape that need a lot of work that I don't have the experience doing, or

B) Are priced (or need repairs) at a level where the rental income would not provide a great cash on cash return.

Have you looked at Single Families? Many times the Multis in Cleveland are found in bad areas or are hard to come by. Single families will also help get you a better ROI.

Please see below:

Single Family vs. Multi-Family Investments

Thanks for sharing this article. I hadn't seen it before and always just assumed that MFH were the way to go. I'd definitely be interested to pick your brain a bit more on the SFH path since I haven't considered it before.

0 Votes

Cleveland, Ohio

Originally posted by @Ian Kurela:

As @Tom Ott said. Many MFH are difficult to snatch up. Of course there are always a few unicorns. Again, beware of the specific neighborhood. If you're not from the area or don't know each neighborhood, it could be detrimental for your investment. Some boots-on-the-ground work should handle that portion though. Best of luck in the Land!

I appreciate the advice. I feel pretty confident navigating the neighborhoods having lived here for almost 4 years, but I think the key is I was thinking that bigger is better with MFH where a handful of SFH might be a better

0 Votes

Cleveland, Ohio

I'm looking for advice from like minded people that have experience with real estate investing in the Cleveland market.

Most of the properties I've been finding have been two-unit multi-families, and either:

A) In rough shape that need a lot of work that I don't have the experience doing, or

B) Are priced (or need repairs) at a level where the rental income would not provide a great cash on cash return.

0 Votes

Cleveland, Ohio

All Forum Posts by: Matt Rutter

Matt Rutter has started 11 posts and replied 35 times.

Post: Real Estate Investing in Cleveland

Post: Real Estate Investing in Cleveland

Post: Real Estate Investing in Cleveland

Post: Real Estate Investing in Cleveland

Post: Real Estate Investing in Cleveland