All Forum Posts by: Rob D.

@Rodney Sums Westlake, North Olmstead, North Ridgeville are for the most part A areas as they're pricy, low crime, and far from the city. This makes them for poor cashflow investments due to their high price per rent. However these are some of the best spots to look at for flips as they can support a higher backend sale prices.

Shane thank you for responding. I have a couple questions in response to that

What do you consider poor cash flow?

A neighborhoods tend to have higher quality tenants and properties. Do you feel the benefits of these A neighborhoods and their respective cost savings don't offset higher cash flows that can be achieved in others?

Are there areas you recommend?

Thank you again!

By "poor" cashflow, I mean less than 1%. Which in my mind is very subpar for Cleveland. And yes, these areas do have high quality tenants and higher overall rent prices, but for the extra costs of purchase I wouldn't say it's worth it. You'll likely find a good balance of return vs. risk in the B areas of West Cleveland, thinking Parma, Brooklyn, Brookpark, Lakewood, and others. There are enough B-C+ areas on the West side that there are still some decent deals left, you don't have to wander as far out as Westlake or North Olmstead. Plus you'll have more PM options in these areas more near the city, which could be crucial if your an OOS investor.

I haven't found anything in Lakewood that works numbers wise. Would love to be proven wrong.

0 Votes

Cleveland, Ohio

Quote from @James Humphreys:

Quote from @Andrew Weiner:

@James Humphreys what kind of cash flow or cash on cash are your trying to get? Are you a cash buyer or financing? There are a few details that would be needed to see why you aren’t hitting the numbers in those zip codes. One word of advice in 44119 is watch out for East Cleveland, it’s not the same as Cleveland or Euclid.

Thanks for the response, Andrew. I'm out of state (NY) looking for my first buy and hold in in Cleveland. I'm looking for a SFH for around $80-110K, with an ROI of at least 8%. I've been looking into properties to BRRR, but I keep coming up around the 3-5% range. I will be financing, and have a lender in the area who is willing to work with me.

I have been mostly concentrating on C class neighborhoods, but am wondering if it's worth fronting a little more cash for a B class neighborhood property, if the ROI is better. If you have any insight to offer, it would be greatly appreciated. Thanks for reading!

Is there a reason you don't look in upstate NY? I invest in both Cleveland and upstate and have had a lot of success in the Rochester NY market. I find the rents in Cleveland don't support the prices like they used to for the properties I want to invest in. I have a fantastic property manager in Rochester. Cleveland has been much harder to manage the manager being OOS.

1 Vote

Cleveland, Ohio

anyone know where the updated link to this is? Shame its gone

1 Vote

My PM is finally getting this done. They want 450$ for the testing. Is this normal?

1 Vote

Cleveland, Ohio

Anything ever come of this? I started to use Stessa but most of my portfolio is managed by a company that uses buildium. Without this integration it’s basically useless.

0 Votes

Curious about this as well. My management company hasn't done anything with this and I just got a notice that we haven't done it.

0 Votes

Cleveland, Ohio

@Charles Stein Pretty sure this is illegal. You need to hire a licensed contractor certified in this and also the disposal is a biggie. The contractor has to certify it’s been properly disposed of.

0 Votes

@Sam Maule can you share a name?

0 Votes

@Barry Cohen can you pm me your PM?

0 Votes

Stephen Pheterson is the best. We have used him on the past 3 or 4 deals. We've been through a bunch and we are extremely happy with him.

Pheterson Spatorico, LLP

45 Exchange Blvd.,
Third Floor
Rochester, New York 14614

0 Votes

All Forum Posts by: Rob D.

Rob D. has started 3 posts and replied 54 times.

Post: Cleveland rental market

Post: Cleveland rental market

Post: Interactive Ultimate Guide To Grading Cleveland Neighborhoods.

Post: Anyone go through the lead safe certification yet?

Post: (DO IT NOW!!) Stessa, Cozy and Buildium are going to integrate!

Post: Anyone go through the lead safe certification yet?

Post: DIY Asbestos (Massachusetts)

Post: REI in Rochester, NY

Post: REI in Rochester, NY

Post: Real-estate attorney Rochester NY

Rob D. has started 3 posts and replied 54 times.

Biggerpockets Logo Post: Cleveland rental market

Biggerpockets Logo Post: Cleveland rental market

Biggerpockets Logo Post: Interactive Ultimate Guide To Grading Cleveland Neighborhoods.

Biggerpockets Logo Post: Anyone go through the lead safe certification yet?

Biggerpockets Logo Post: (DO IT NOW!!) Stessa, Cozy and Buildium are going to integrate!

Biggerpockets Logo Post: Anyone go through the lead safe certification yet?

Biggerpockets Logo Post: DIY Asbestos (Massachusetts)

Biggerpockets Logo Post: REI in Rochester, NY

Biggerpockets Logo Post: REI in Rochester, NY

Biggerpockets Logo Post: Real-estate attorney Rochester NY

Post: Cleveland rental market

Post: Cleveland rental market

Post: Interactive Ultimate Guide To Grading Cleveland Neighborhoods.

Post: Anyone go through the lead safe certification yet?

Post: (DO IT NOW!!) Stessa, Cozy and Buildium are going to integrate!

Post: Anyone go through the lead safe certification yet?

Post: DIY Asbestos (Massachusetts)

Post: REI in Rochester, NY

Post: REI in Rochester, NY

Post: Real-estate attorney Rochester NY