All Forum Posts by: Robert Arquilla

@Robert Arquilla

Never mind I see. My fault

@Mark Greathouse

Did you’re lender give you that closing cost number? Seems low to me.

@Zach Weiland

Welcome to BP! I’m not far from you about 40 mins and also work in construction in Cleveland. Not sure if I can help or not as I’m a newb. Been on here since 2015 just soaking as much up as possible and I’m finally I’m looking to make a purchase here shortly.

But if you have any questions let me know.

Sounds like you’re ahead of most people in that you have a rental already so that’s great!

@Hai Loc

I heard from another BP member Youngstown May be making a slight come back due to Covelli investing money in an outdoor amphitheater and things like that downtown. Plus you have Youngstown State University right there. I know warren a little better because I used to live there. It has some smaller businesses moving in to the square area. I know a couple people who invest in warren and you can get nice cash flow you just really need to find the right neighborhoods and like anywhere else the right tenants. I’d say both areas are decent to invest in. Nice cash flow for the price.

@Amrita Zupancic

I work in construction and Cleveland has a lot going on right now. If you check out others posts about Cleveland it seems like they are doing very well with rentals and finding tenants quickly. Appreciation is not there so much as in other cities but the cash flow is.

Hello everyone.

So I’m going to look at a house tomorrow that was built in 1860. From the outside it looks really nice. It’s on a semi busy road with other century homes on both sides. I’m really interested in this house 1 because it’s about a mile from my house. And 2 it’s in a great school district.

However it’s right next to a funeral home. Do you think this would be a deal breaker for potential tenants? Does this affect the rent price?

Also I’m pretty aware of things to look for when walking through older homes (knob and tube wiring, lead pipes, lead paint, asbestos, foundation issues etc..) Anything else I should be asking/looking for?

Anyone have any insight to insuring older homes? I heard this could be harder then traditional homes.

Thanks!

@Jared Rice

Great post, I’m looking forward to seeing what everyone says!

@Rachel Imhof

It’s more common in commercial construction but OSHA has been really cracking down on residential as well, especially roofers. I would look up what to do when OSHA shows up there are a lot of guidelines out there. You really want to see their ID and take down their Info, there’s a lot of pretenders out there that will try to scam you. Normally you’ll take them somewhere (we go to a job trailer) and talk to them and see what’s up and why they are there, while also letting everyone that is working onsite know OSHA is here. You have a certain amount of time before you have to let them on to your site to look around. Most of the time they already scouted out your site and took pictures before they introduced themselves but if they didn’t this could help save you a couple citations. You can deny them access but that’s like asking for multiple citations when they come back, and they will, most likely with a court order.

Just my two cents

@Michael Lewis

Not too sure about your population question but cleveland is booming as far as construction goes. A new apartment tower was just completed downtown and another a couple blocks away is going to be finishing up this year. There are a lot of renovations going on all over Cleveland in multiple sectors not just housing.

Amazon has just built I want to say 2 or 3 new distribution centers in Cleveland and surrounding areas. There’s a lot of construction going on for like you said a declining population.

@Andrew Erickson

Call a local property management company and ask them what similar places rent for.