All Forum Posts by: Somesh Mukherjee

 Best thing to do is start by reading The Ultimate Guide to Grading Cleveland Neighborhoods.

@Somesh Mukherjee why not Detroit?

Check out some of the great things happening in Detroit in 2024

https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/

North Linden, South of Main, Vassor Village, Woodland Park, MT Vernon, Milo-Grogan, Franklinton, Merrion Village, Hungarian Village, Southern Orchards, Driving Park, Olde Towne East, Franklin Park, King Lincoln, Old Oaks, Livingston Park are all but not limited to some areas in Columbus, Ohio I think will gentrify quickly and make for great long term buy and holds. I personally have success in doing flips with my partner here in Ohio.

Lakewood and Edgewater are gentrifying neighborhoods in Cleveland. If you need more insights, I am always down to talk about real estate investing in Ohio. Let me know how can I help!

@Somesh Mukherjee
If you are looking at investing in the cleveland market I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying. I'll send over some of my go-to recommendations for the people above. 

Somesh I have one property in Toronto. It has been challenging to acquire more properties but do you have any advice of areas you think I should focus on in Toronto or general acquisition strategies that work right now as an investor in Toronto or GTA . Also are you no longer going to be investing in this market ?

 Most Canadian clients we work with use TD bank because they offer US mortgages for Canadian investors. 

What do you consider a small apartment building 4 units or 20 units?  Buffalo is a good city to invest in, but you really need to understand each micro market.  If I am buying a larger apartment building I am going for a low risk investment.  

I have seen one bad tenant crush an entire 4 unit building with bed bugs, non payment of rent, and drive good paying tenants out of the building.

The location is the # 1 priority, after that asset condition is really important.  I would prefer the risk of a renovation to upgrade a building as opposed to location risk with a high risk tenant pool. 

Hey,

I'm an agent over here in Rochester and can definitely help you out with both lenders and PML's. I would like to jump on a call and discuss those and target areas over here. I also have a couple clients in Canada and I can give you their contact info so you can talk to them. Feel free to reach out at anytime!

Hi @Somesh 

I am a US lender based in Toronto, feel free to reach out with any question regarding financing/US entity formation or accounting services. I also have some partners/realtors working in Rochester and specifically working with foreign national investors.

Good luck!