All Forum Posts by: Shane Kelly

@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.

Congrats!

I see Ravenna as being very out of the way from Cleveland (1 hour+ commute) but close-ish to Akron (under 30 min commute) but it is fairly out of the way. It's a nice little town and benefits from being far from the city in some aspects. I'm sure if a deal is sweet enough, it'd be worth going for. Might have to be a little more conservative on your numbers just to make sure you have an exit though.

As mentioned above, a single family worth almost $1 million will likely make for a terrible rental. Will you even cashflow at all? or will you just be spending money with a rental? If the latter, then maybe moving and selling is a better strategy. Either way it sounds like you're in a very high price market, so investing there may not be wise if cashflow is your goal, but I'm sure appreciation is easy to find. And I do respect your aggressive goals! However, REI is a "get rich slow scheme" as you may have heard before. Play for the long game and you will win.

 They need to be high traffic areas in "trendy" parts of the city, or the alternative is what this forum is discussing being near Cleveland Clinic where travel nurses can be a large part of your tenant base. So the likes of University Circle, Ohio City, Tremont, Edgewater, and some parts of Lakewood are a good starting base.

I do not know honestly. While I'm sure that someone on the forums here would know, I do not. You can call around to places in Cleveland that do STR management and they will tell you.

Sounds like this is a Midwest fest in here. I love the Midwest too, but do some market research on data that pertains to what you're seeking to get from REI, as just because someone says Cleveland is a great city for investment doesn't mean that it fits your goals. Also, narrow down your goals and get them to something that allows you to do research on that data in the first place.

STR/ MTR? (if that's even a term) for nurses in Cleveland can definitely work as Cleveland Clinic is a powerhouse in healthcare. I recommend checking the areas near University Circle for that reason, but there are some spots not far from there that can be rough, so do your due diligence. Reach out if you need anything!

Highly recommend David Streeter. Search him on Google and you should not have a problem finding him.

I would recommend calling around to all the property managers in the area and vetting them. Them are plenty of posts in the forums here that can give you advice on what to ask them. Compare them and make the best decision for yourself, as I feel a property manager is someone you have to personally feel that you can work with. If you really need someone else's opinion on a PM you can DM me, but I don't think you'll need to if you call around to them all.