All Forum Posts by: Nicolas Carucci

This was a good project overall @John Prucha. I sold this property last year and still work the new owner. Same tenant and all have been current throughout the pandemic. This neighborhood is still C class but as far as opportunity in Cleveland in general, I can't think of too many areas right now. Prices have gone up certainly and I think a lot. Hospital is moving along as I was driving by yesterday - I think single family purchases over here would probably be a decent bet. Needless to say just north in those few streets, or directly across from the hospital would probably be best. I do know the hospital themselves will actually be providing housing to employees as well. 

There are some areas on Clevelands West Side that do have some tax abatement potential for between 10-15 years. You're correct - some of the suburbs do carry a heavy property tax burden for sure. 

Everyone has different ways to analyze their investments - bottom line is you have a plan and that's a start. Executing on the plans may not be as easy as we think due to some aspects already mentioned here but it's certainly a great start. Lotta folks want to be investors but haven't been punched in the face yet - it hurts - games not played on paper - just get started and never stop learning. 

Welcome @Paul Burleson - ironically just won a bid on auction in that area and was certain I wouldn't stand a chance. Love the potential for many avenues in the Shoreway and Ohio City

@Daryl Anderson 

@Maricar Mendoza - I"ve used @Daryl Anderson on my projects - continue to use him and his team and i know many out of town investors have as well. He capable, local, honest, and resourceful. I stand behind this one and am generally apprehensive with referrals. 

@Vivian Pena From a cost of entry and cash return - Cleveland has quite a bit going for itself. Like many have said on here, there are numerous ways to analyze the investment. Just a glimpse of an average duplex on Clevelands West Side - 50k pp w/minimal updating needed will get you between 1300-1500 monthly. 

Hi Enrique - without getting too technical a 2 bed apartment unit can go from 550-650 on Clevelands west side. This building sold for 420k and has 15 occupied units - 1 vacant and the potential to add 4 more in an area. Very good purchase and a solid property for our client. 

If you can shed some light on what type of properties and class you were looking to invest in I can give you some more specific figures. 

Was a school long time ago - now its been split into two separate parcels. A day care & offices on one side and good sized apartments on the other. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Akron.

Sale price: $130,000

Represented seller - Akron University student housing