Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Nicholas Misch

Nicholas Misch has started 8 posts and replied 292 times.

Post: South Euclid, Cleveland

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273
Quote from @Jonathan Oh:

@Kaira Resch Have you considered working with a realtor to purchase properties needing cosmetics? Not as risky as full rehab, but manageable remotely. And you can prob get in at better price points. Otherwise, you'll be paying a premium for turnkeys with minimal cashflow.

This was my first thought. Get a good agent investor who can help with a small rehab. You’ll find better prices on properties that need a little work. Many people successfully do this out of state. 

Post: STR Neighbor Complaints

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273
Quote from @Kadeidra Honey-Brooks:

@Nicholas Misch and @John Teachout, I think you’re both right that these are miserable people. The complaints Airbnb forwarded were unbelievably lengthy, negative, accusatory, etc. Not something a reasonable person would write.

I’ll implement some of this great advice and see if I can win them over, or at the very least, gather my own evidence to rebut their accusations. 


 Really I could care less about complaints from people who aren't staying as long as I and my guests are following my, and the local rules. 

Post: Should I refinance with current interest rates?

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273

I definitely understand your dilemma. I love when I can pull cash out of a property to buy more investments with it. I always feel that it's wasting away sitting in a property. For myself however, I do think I would have a hard time taking it out at 2.5% and then be paying 5.8%, unless the deal or investment I am going to put it in can beat the 5.8% and compensate for the hassle and fees to refinance, so I would probably have to get 8% or better to make it worth my while. 

Post: Should I buy the land next door?

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273

It's probably more nuanced then we can fully understand, but I always think that no more land can be made, so any opportunity to buy more sounds like a plus. If it can be made part of your current land that will increase the value of it, and I can't imagine that there isn't something that can be done with it unless its swamp (even then someone smarter then me could figure it out). 

Post: VA Cold Calling quality leads

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273

I am sure you have thought of this, but possibly she's just not good at it? It could only be the training or the student. 

Post: STR Neighbor Complaints

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273
Quote from @John Teachout:

The fact that they whined about both the tree laying in the yard and then whined about the tree removal process makes me think they're just unhappy meddlers. I'd just carry on.


 Yep! This was my thought exactly. Most likely nothing would satisfy them unless you closed shop and if the local ordinances are behind me, they can complain all they want. 

Post: STR Neighbor Complaints

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273
Quote from @Scott K.:

Why has no one suggested going in person to talk to them? They're human beings. Have you met them face to face? People are much kinder in person once they see you as a person. I've have plenty of upset neighbors calm down once I go in person, talk to them, listen to their complaints, and then offer solutions. I then execute on those solutions, and then ask them if I've done everything I can to help them. If I have problems, I send a gift basket with an apology, and a promise to implement a procedure to fix it in the future.

We need to stop being ******* landlords and owners. Be a human being. Treat others kindly. You wouldn't want obnoxious renters next door to you as well.


I always try kindness and fixing any issues with any neighbors I or my tenants have had, but you've never experienced someone that can't be pleased or made happy just because they basically hate life? 

Post: Starting early in real estate

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273
Quote from @Amelia Foronda:

I have a Bachelors in Business and it's doing nothing for me as far as real estate is concerned. Reading and connections with people is what your going to be most reliant on. 


 I wanted my business degree (which I have a bachelors of business administration) years ago and don't really regret it, though I haven't really used it technically for anything I have done. Especially now between books, the internet and hands on experience, college of any kind is pretty useless, unless your desired career requires it to enter that field. 

Post: New investor couple looking to get into long distance investing

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273

As I state whenever I am answering this often asked question, Almost every major "rust belt" city has pockets of really good investing with high returns and places you should avoid. The key is having your core 4 that you trust to guide you on where and what to expect. 

Post: New investor couple looking to get into long distance investing

Nicholas Misch
Pro Member
Posted
  • Investor
  • Cleveland, OH
  • Posts 306
  • Votes 273
Quote from @Steven Goldman:

No disrespect meant for Dayton. I agree with Michael and Austin. These are emerging excellent markets. They are especially attractive to less seasoned investors because of the low entry bar. Here is a reprint of rent o meters Dayton and other cities average rent 3 bedroom SFH. Good luck.

Summary

This report highlights the average rent for three-bedroom (3-BR) single-family rentals (SFR) in five select Ohio cities from Q1 2021-2022: Cincinnati, Cleveland, Columbus, Dayton, and Toledo.

Methodology

Geography: The scope of this analysis is five cities in the state of Ohio.

Property Type: Three-bedroom (3-BR) SFR with all bathroom counts.

Analysis: The data collected shows year-over-year change in average rent from Q1 2021 to Q1 2022.

Data: Includes data collected and updated between January 1st and March 31st for 2021 and 2022.


 This is a great graph, however it says nothing about relative property values in relation to the average rents which definitely matters when making investment decisions.