All Forum Posts by: Shane Kelly

Cleveland is mostly SFR and small-multis. There are some medium to large multis, but they are rarer in this market. BRRRRing can definitely work in Cleveland, you just need to find a good deal. One of the big pushes for BRRRR working so well is the increase in value on the exit, but Cleveland not seeing much appreciation means that you need to buy at the right price to make sure you have the increase in value on exit. If you need anything else, reach out and I'll be happy to help however I can. Thanks!

Cleveland vs. Baltimore is not a similar battle. Cleveland as a rule of thumb, does not appreciate, unless you look for very specific sub-markets in Lakewood, Ohio City, Tremont, and other "uppity" areas of town. Cleveland of course is known for cashflow, which we do have plenty to spare. Answering based on your final question alone, if you want appreciation, you will likely want to look elsewhere.

I can tell you that from my personal experiences, Mt. Pleasant is not an area that is making a change to even a C. Slavic Village is interesting as Newburgh Heights is an area that is now C in areas, but once you come more towards the Broadway area it gets rough. I actually am rooting for Slavic Village as it has some potential for sure, so if you want to be an early developer then this might be something to look into. But know that North Broadway and the surrounding areas have some of the highest crime rates in the city proper.

Now from someone who knows Cleveland's vouchers (sort of), the bigger ones are Section 8, EDEN, and Parma Public Housing Assistance. 

Last remark, I really like Lorain and possibly Elyria if you're looking for Section 8/EDEN rentals. Lots of good PMs that manage there, not too rough of an area for the price, and a lot of voucher demand from my experience.

Reach out if there's anything else I can help with! Thanks.

@Cesar Figueroa Nice to meet you! Cleveland is an awesome city and I'm glad it's something that you're looking into. I have a lot of knowledge in the area and don't mind answering any question about it you may have. Feel free to reach out!

 Oh I see! You're more than welcome to reach out and I can see what I can do.

@Javaras Thomas Its of course incredibly important to have a PM that understands your goals and needs as an investor. If you've explored many companies and still haven't found the right one, you may want to consider trying to make someone into a PM. Find a person in Cleveland who you trust, has knowledge of the area, and most importantly is well connected and propose making them your PM. Hope this helps.

@Babatunde Onadele Jr There is a lot to learn with any market, Cleveland too of course. Best tips as a whole are to figure out what your strategy is gonna be, what class of properties you're looking for, and find boots on the ground who knows the area and can give you the insight you're looking for. Glad to see you interest in our city. Let me know if I can help at all!

Are you looking specifically a contractor? I only ask because of the forum you are posting in. Either way, let me know if I can be an assistance. Thanks.

Another thing that just hit me to consider, is that most of the people that will be working at this well-paying jobs in Warrensville don't live in Warrensville, as they make more than enough money to afford a better area. Just food for thought.

Warrensville Heights borders very high end and very low end real estate, as properties leaning towards the Lee-Miles neighborhood tends to be rougher and properties leaning towards Beachwood/Shaker Heights tends to be nicer (there are exceptions, of course). There are a lot of employment centers in and near Warrensville, including Amazon, Jack's Thistledown, and many more. It's also a convenient location, with it's proximity to 480 and 271 allowing commuters a decent time to Cleveland and even a reasonable time to Akron. The major downfall of the area are it's more industrial districts and the nearness to low property value areas. If you can grab a property cheap enough here, I'd say do it, but don't buy high and pray for any appreciation.