All Forum Posts by: Simon Ashbaugh

Near Edgewater. I agree this could attract troublesome tenants. On the flip side I do not think renting it to a regular long term tenant would work either as most tenants are not looking for an 8 bedroom SFR. I may look into converting it into a multi family

For the first option, I anticipate paying a higher interest rate, but I believe there may be fewer competitors in the market presently, potentially leading to good deals. Additionally, I assume housing prices are to rise (if they haven't already) once the rates start dropping.

On the other hand, with the second option, I'll pay less interest but I anticipate a surge in demand as many others may have the same idea and wait. So when the rates do drop, there could be a significant uptick in competition. Nonetheless, I also suspect there will be more supply, which might help balance out the demand.

I'm curious about the perspectives of others on this site regarding this matter

Hi BP experts, I’m a busy professional in the Bay Area, trying to get into property investment. I don’t have time for all the house flipping or maintenance, so most likely just want to get a rental property to provide another stream of income. If there’s appreciation that would be great too. I was looking between OH, TX, FL and some cheaper areas in CA. What do you recommend for someone like me? I have a budget of less than 500k. 

Has anyone done a pad split in Cleveland Ohio? I am thinking about buying this 8 bedroom 3 bathroom house in Cle. There is a good amount of square footage and it is a single family house. Instead of converting into a multi family I was exploring other options. If I kept it as a single family, 8 bedrooms is a lot to rent it out to a regular tenant so I was thinking about doing a pad split instead. What has been your experience with pad split in the Cleveland market and would you recommend it? 

*For those of you who don't know pad split is a platform where you can rent you each room individual to tenants. They are most ideal when you have a lot of rooms 

I am looking to become a new first time investor and am working with a great Realtor out in the Cleveland area. He just sent me a deal that checks a lot of boxes (Newly renovated, cash flows according to the 2% rule and the rental calculator, etc). However, the "Crime", "Housing" and "Employment" ratings for this area (Fairfax) all have "F" ratings according to a few sites (areavibes.com, being one).

Anyone have any thoughts on investing in areas like this (especially with an F in employment), despite cash flowing on paper and being newly renovated?

Thanks!

Hi, looking to possibly get started in Cleveland and hoping to find a 2-4 unit to rehab and MTR so need to be relatively close to Cleveland Clinic, etc.

We're OOS and just started looking so haven't reached out to any pro's on the ground there, but when I look on Zillow, realtor, etc I'm seeing a lot of distressed properties that look like they have potential… However, what I'm not seeing are many comps for ARV.
i’m seeing a couple around $150,000, but they’re all dated and not even all that nice. is it just that there aren’t very many nice up to date duplexes there? Or maybe they’re all just further out away from the hospital area?

Looking for some first hand experience about this program. As someone who works long hours and shift work, I love the idea of someone else vetting the deals for me. The hardest part for me is finding the time to locate and analyze deals while working my “9-5” and trying to be a present husband and father. Was looking for some honest reviews from anyone who’s bought in to this system. I understand there is a 15k initiation fee and $200 monthly. That doesn’t bother me. It’s worth it if they’re actually finding, sending me deals, introducing me to lenders and contractors. I see where it could save me years of experience. Thanks everyone.

Hello all,

I have decided to list one of my units as section 8 due to the neighborhood and lack of leads from non section 8 tenants. Does anyone have any advice about renting to section 8? I know people have very mixed experiences in doing so. I currently have it listed on Affordable Housing for $1,575 (3b, 1ba two-story duplex) with water included in that. I have also read that you're supposed to include all utilities in the rent and it must all be at or less than the amount their voucher is worth. If this is the case, then I would need to list it for around $1,700.

Part of me is afraid of the unexpected from these tenants, but another part of me does want to provide a good home to people in need. I do also think I may have rent listed too high, but based on comps in the area and then doing section 8 instead of a regular rental, $1,575 with water included seems reasonable.  

I would love some input about renting to section 8 and any tips on it, such as certain things I should include in the lease or look for when screening (obviously income/credit will not be great from the tenant). TIA!

I have an opportunity to assume a loan at 2.5% in a HCOL SoCal community. Even at that rate I will still be losing about $800-$1000 per month with a renter due to HOA & Mello Roos. I'm ok with a negative cash flow for a couple of years because its in an area that should continue to appreciate. My question is how much is too much negative cash flow? Is there a general rule of thumb or is it based on personal tolerance. Thank you!