All Forum Posts by: Shane Kelly

 I like North Collinwood, it's relatively quiet even in it's worse parts and it's entry price is very inexpensive. I weirdly don't dislike East Cleveland that much. It has some things going for it since its' price has been on the floor for so long. I would still say you've got to be very selective where in East Cleveland you buy though. I don't see all of it coming around anytime soon. And as for Mt. Pleasant, I am not a fan much. Even the areas that border Shaker Heights are not something I recommend to my clients.

If you're looking for a home that cheap, you're going to be priced out of Maple Heights and Euclid for sure. I'd say you'd be pressed to even find any good C- neighborhood houses for that price. With that being said, there are a select few C-/D+ areas that have some things going for them. Some are already upcoming, some I expect to be in the next few years, but just to name a few: North Collinwood/Waterloo Arts District, Fairfax, Hough, Woodhill Homes, Lee Miles, and maybe North Broadway. I do want to preface though by saying all of those areas are street by street right now and likely will be for some years to come. Having someone who really knows the blocks will be crucial to not getting a trap house in a warzone. Best of luck.

Clark Fulton is an interesting area, for the most part I recommend my clients to avoid it. It's home to the worst blocks on the West-side, but the area you're saying this house is close by to should not be on that side of the neighborhood. It's still street by street over there, so if you (or someone you trust) has walked the house and vouch that it's not a terrible street, it could work in the long term as I don't see the areas bordering Metrohealth over there staying the grade they are now. However as others have mentioned, the price you're talking about paying over there is above what I'd say is worth it atm. You're paying the fairly speculative price, and if things don't pan out the way some people expect them to, you could be in a negative equity position for a while.

Hey man! Welcome to BP. I'm a 22 year old realtor here in Cleveland and I love to see local people get into the game. I'm gonna shoot you a connection request because it always helps to know more people. I wish you luck too!

I like North Collinwood mostly. It has gone up a lot in price over the past few years (where hasn't though?) so I'd be picky about which streets specifically I'd be buying on. Generally, the closer you are to Euclid, the better; and the closer you are to South Collinwood, the worse.

I will weigh on the neighborhood specifically. Fairfax has both B areas and D areas, all within about a mile of each other, so that is to say it's street by street. If you're close to the Cleveland Clinic campus, you're gonna be fine. If you're sort of close to the Cleveland Clinic campus, you might have to get some eyes on the area first. And if you're like at the SouthWest edge of Fairfax, I probably wouldn't recommend pursuing it unless it's at an incredible price.

 Hey! It's gonna be a mix of factors. Most of the small multis that are close to the clinic are either not in the neighborhoods that you'd want them to be (as a lot of neighborhoods relatively close to the clinic are still not great) and/or the ones that are in the neighborhoods you'd want them to be are priced rediculously (i.e. Little Italy, Cleveland Heights, University Circle, and most of Fairfax). Some areas like Hough, some of Fairfax, very particular parts of Woodhill Homes, and whatever you can find just North of Case Western University do have some inventory but you won't find many selling in pristine conditions. Most are total rehabs or at best have a lot of deferred maintenance. So yeah, for ARVs in some of these areas there's still a lot of trailblazing to be done, as most of them haven't been nice enough neighborhoods for long enough to truly know what the top end looks like.

 Buying cash I'd hope that all of your due diligence comes before or during the inspection window. You've already done your walkthrough (or someone you trust has on your behalf), you now know how much work you're looking at needing. It sounds like all there is to think about at this point is if you're going to ask for any price reductions or repairs to be made. If you think you can ask for either, do it.

I think a midterm in Euclid might be tough. There are branches of Cleveland Clinic and quite a few other substantial job providers in the city like Lincoln Electric and Amazon. However, I don't think those draw a ton of STR/MTR demand, and it's too far from the major hospitals' main campuses to draw any of that crowd. It is a nice area though, so I'd say if you get a property for cheap enough that you can always LTR it as an exit strategy, it could be worth a try.

$800 a unit is a little under market in this neighborhood, but not by much. The house looks in overall decent shape too. It's a little high priced for sure in my opinion, especially for where this house is in Cleveland Heights.