All Forum Posts by: Rob Gillespie

Hi Ravi,

Depends. 

1. do you have sewer or septic? The reason I ask is that will usually determine where the line is. If you are running septic, you will most likely need an up flush toilet with a grinder pump and it will cost ya more. 

2. are you already roughed in for a bathroom in the basement. What I mean is, did the builder already cut the floor and put a cap over where the toilet will go and is there a smaller drain sticking up for the sink? If not, it is ok. You will just need to cut the floor and put it in. 

In short, 5k for a 1/2 bath is low end with walls and fixtures and not doing a ton of plumbing. 

10k if you are putting a full bath and need a grinder/up flush toilet. 

seems like a lot, but usually very much worth it for marketability for buyers or tenants. 

Good luck!!!

Hey welcome Cynthia!

Your are my neighbor to the south. I am a Cleveland Investor. 

I would tell ya to take a look at Mansfield it is about 45 min to an hour north of you and you can get a TON of margin on properties there. I did about 100 houses there in the early 2000's. I am sure it has changed some, but from what I see when I get them across my desk, still a great place to start. 

Would be happy to chat if you have any questions about that area or what to do there. 

Good luck!! Keep pushing forward!!!

Hi Mike,

Welcome to BP.  Great place to make connections!

I have spent the past 23+ years in the Cleveland Real Estate market. 

A 50k budget will certainly work in the Cleveland market.

Would love to connect .

Hey Rubin, I am a Cleveland guy and i have to say that you do not need to spend 60-80k in a C class neighborhood. 

In my honest Opinion, I would buy something with an upside. Do not buy at top market. 

Would love to chat with ya in more detail if you have anything to look at in detail in the Cleveland Market. 

Good luck!

Hey Robert, I hope you have plenty of those houses on Marketplace!

That is an awesome position to be in. Having access to great properties in a great area is a good thing!

Make hay while it is sunny! 

Hey Marie, 

SOOOO much to go over if you are new in real estate and new to Cleveland. 

I am the President of the Real Estate Investors Association in Cleveland. We always begin by making sure new folks know all about the local laws and regulations and which cities are a pain in the butt! LOL

Cleveland has tons of areas that have GREAT numbers, but things are not always what the seem. 

Cleveland is defiantly a place that you can get undervalued assets with great ROI, IF YOU HAVE THE RIGHT TEAM!

Welcome to BP, the world of real estate and Cleveland! :-)  

Hey Daniel, 

That is a great place to be in your life when you can pack up and move wherever ya want, whenever ya want to do it!

Cleveland (North East Ohio) is a GREAT place to House Hack. In fact, I cant think of a better place to do it. If You were to choose to live in "Cleveland" I would pick a redevelopment area like Ohio City, Tremont or Detroit Shoreway. 

My son is in college and doing exactly that. He purchased a home for 65k. will put about 50 into it and it will sell for 300k+ if he chooses to sell after he graduates. This is of course a process of a massive renovation and lots of creativity in the design. Regardless, this should give him a strong start in life!

Cleveland may be cold, but the real estate deals are HOT!

Good luck to ya Daniel! Let me know if you plan a visit to C-Town. Would be happy to show ya a few areas. 

Hi Jack! (Never to be yelled out at an airport, LOL)

I have done a lot in those 20k areas of Cleveland, here are some bullet points of my observations over the years.

• Crime rates. Yes it is defiantly gonna look bad on paper, however I have not had any issues and have been in stores, gas stations, walking streets, etc.. in all of those "high crime" areas. People are People, if you treat them with respect and do not show fear, they are just Americans working on gettin by like the rest of us. With that said, the are is more of a likelihood of a vacant house getting broken into, however that happens in the outer ring burbs as well.  A portable security system will work wonders in stopping this.

• Low Rent Rates. Not accurate. The rents are actually really high considering the area and condition of the homes. There is a lot of inventory, so you can not be absentee. There is lots of move ins and move outs. Not a lot of stability in those communities. You can do well with it and keep your tenants staying and paying, but you MUST be involved. It is not a "hands off" business in those areas. 

• Areas to avoid. The only one I avoid is "The Republic of East Cleveland" LOL. also known as the city of East Cleveland. It is not to be confused with the east side of Cleveland. The east side of cleveland is still ok to buy, if you can handle D areas.  The city of East Cleveland is terrible! They have Point of Sale inspections, Corrupt Government, no one is paying property taxes so it leads to no public services. Hardly any cops, fireman or EMS. With that said, a local Hospital is buying up properties there and it probably will come back some day, but I am not interested in being on that train that will probably derail before it reaches the destination. Below is a pic I took in East Cleveland. 

• Areas that are good is just about Anywhere other than "The Republic of East Cleveland". There are opportunities EVERYWHERE in the Cleveland area. You just have to get it at the right price!

Hope that helps, and I am sure I will have plenty of folks debating me on my comments. LOL

Good luck on wherever you choose to invest!