All Forum Posts by: Vadim F.

I purchased a SFH in Cleveland, Ohio and I'm having trouble renting it out. It's a 3 bed, 1 bath renting for $1100 in a C/B- neighborhood.
It could use some updating, but otherwise rentable. However, my property manager is having the hardest time finding a qualified tenant. I found one self-paying tenant with a 530 credit score and eviction history. Another is Section 8 and unemployed.
I’m open to Section 8, but my property manager says that the house won’t qualify and that it will need repairs such as:

Fresh paint in some areas
Garage door (garage is good, but door is missing)
Filled cracks in driveway
Power washing of outside
One New window (has very small hole)
Phone jack removed
Lawn mowed

I’m curious if this is all necessary for Section 8. I can understand some things, such as new window, but are cosmetic improvements such as paint and power washing really necessary for Section 8 approval?
Also, any general advice on finding a well-qualified renter or screening tenants would be appreciated. It’s been on the market for 30 days at this point and I’m worried that I’m not going to find someone to rent to.

Really curious what part of Cleveland this is because this does not sound like C/B class area. If you want to go the CMHA route, you will absolutely need to fix everything you have mentioned and there will be more on top of that.

I'm on Greenvale Rd, 44121. Right on the border of Euclid and South Euclid.
Appreciate the info here!

Based off a quick rental search I can see that the property needs some more work to get rent ready. Replace the blinds, get rid of the carpet, change out the light fixtures, and do a fresh coat of paint. The house looks really dark. Also the outside will need the shrubs to bet cut, a good power washing, etc.

Thanks! Do you think it's rentable without a stove or fridge? Only appliance is a dishwasher.

Yes, I don't provide appliances. If tenant breaks them you still have to fix them.....so have the tenant provide them. Also, I would personally get rid of the dishwasher as well, 1 less liability to worry about.

Thanks!

The pictures are actually a bit old. I've had:

-Blinds Changed

-Light fixtures changed

-Carpets steamed/cleaned

-Closet doors installed

Agree that the house looks kind of dark. Not sure what to do about that. Hoping that it will rent soon, because it's in a decent neighborhood.

Get new pictures uploaded and look into a new PMC. Agreed the area is decent and shouldn't have issues renting there.

Thanks! One more question.

I was looking at the Inspire HCV Form and there's a star next to "Primary Cooking Appliance Missing" and "Refrigerator is Missing." The start indicates "Affirmative Habitability Requirement per 24 CFR 5.703(d) and NSPIRE Final Rule"

Does that mean having a fridge and stove are requirements to qualify for Section 8?

No they aren’t requirements.

0 Votes

Cleveland, Ohio

Quote from @Marty Rogachefsky:

Quote from @Vadim F.:

Quote from @Marty Rogachefsky:

Quote from @Vadim F.:

Quote from @Marty Rogachefsky:

Quote from @Vadim F.:

Quote from @Marty Rogachefsky:

Fresh paint in some areas
Garage door (garage is good, but door is missing)
Filled cracks in driveway
Power washing of outside
One New window (has very small hole)
Phone jack removed
Lawn mowed

I'm on Greenvale Rd, 44121. Right on the border of Euclid and South Euclid.
Appreciate the info here!

Thanks! Do you think it's rentable without a stove or fridge? Only appliance is a dishwasher.

Thanks!

The pictures are actually a bit old. I've had:

-Blinds Changed

-Light fixtures changed

-Carpets steamed/cleaned

-Closet doors installed

Agree that the house looks kind of dark. Not sure what to do about that. Hoping that it will rent soon, because it's in a decent neighborhood.

Get new pictures uploaded and look into a new PMC. Agreed the area is decent and shouldn't have issues renting there.

0 Votes

Cleveland, Ohio

Quote from @Marty Rogachefsky:

Quote from @Vadim F.:

Quote from @Marty Rogachefsky:

Quote from @Vadim F.:

Quote from @Marty Rogachefsky:

Fresh paint in some areas
Garage door (garage is good, but door is missing)
Filled cracks in driveway
Power washing of outside
One New window (has very small hole)
Phone jack removed
Lawn mowed

I'm on Greenvale Rd, 44121. Right on the border of Euclid and South Euclid.
Appreciate the info here!

Thanks! Do you think it's rentable without a stove or fridge? Only appliance is a dishwasher.

0 Votes

Cleveland, Ohio

Quote from @Marty Rogachefsky:

Quote from @Vadim F.:

Quote from @Marty Rogachefsky:

Fresh paint in some areas
Garage door (garage is good, but door is missing)
Filled cracks in driveway
Power washing of outside
One New window (has very small hole)
Phone jack removed
Lawn mowed

I'm on Greenvale Rd, 44121. Right on the border of Euclid and South Euclid.
Appreciate the info here!

0 Votes

Cleveland, Ohio

Cleveland is definitely peaking right now. Inventory is low and prices are high. Getting something in a decent area where you would expect to cash flow is hard to come by today. You'll be lucky to find anything that will yield you 8% or more in C class areas (which is more then a HYSA or CD will if you keep that money in the bank but there is a ton more risk).

2 Votes

Cleveland, Ohio

Quote from @Marty Rogachefsky:

Fresh paint in some areas
Garage door (garage is good, but door is missing)
Filled cracks in driveway
Power washing of outside
One New window (has very small hole)
Phone jack removed
Lawn mowed

1 Vote

Cleveland, Ohio

If what I am seeing is correct, this property was condemned by the city of Cleveland. How were you able to get a mortgage on it and how did it get past title? Since it was condemned by the city, maybe the rehab work was done without permits and the city inspector would need to come out to reinspect.

Either way sorry to the OP who got taken advantage of. I would get a 2nd opinion on the property, and make it a S8 rental. From the pictures, I am not seeing much work that is needed to get rent ready. Also, on the bright side that area is booming, so there might be some long term appreciation. https://neo-trans.blog/2024/04/24/clevelands-central-fairfax...

1 Vote

Cleveland, Ohio

With proper management in place and proper screening you can be successful in all parts. The rougher the area, the higher the return. With the right team in place, you can succeed in any area.

1 Vote

Cleveland, Ohio

44122 is a Beachwood zip code, so it would make sense for them to be higher. But also note that it can be part of Cleveland as well. In order to get the highest CMHA rent possible, your unit will also have to be fully rehabbed, you will need to provide all appliances, and pay all the utilities.

0 Votes

Cleveland, Ohio

@Sahil Rajput if you want to invest in CA, the only area I know that you can potentially cash flow would be parts of Inland Empire in Southern California and those would be D class areas. Investing in CA is better for flipping vs cash flow rentals. Study on different markets you may be comfortable investing in, visit the the market and build a team. I invest in Cleveland personally while living in the Bay Area.....I have a team out there that handles all the work for me.

0 Votes

Fresno, California

All Forum Posts by: Vadim F.

Vadim F. has started 10 posts and replied 333 times.

Post: Prepping a House for Section 8

Post: Prepping a House for Section 8

Post: Prepping a House for Section 8

Post: Prepping a House for Section 8

Post: Is the last, affordable city a good place to invest?

Post: Prepping a House for Section 8

Post: I did a mistake by 100% trust the realtor and end up with a nightmare

Post: Good/Bad Cleveland Suburbs

Post: CMHA (section 8) rental rates in Cleveland OH

Post: Cannot find cash flowing deals in CA