The Cleveland Real Estate Investor
This is the Cleveland Real Estate Investor with Mike Reilly, owner of Reilly Properties and Reilly Painting and Contracting. Mike has been in the home renovation business for 40+ years in the Cleveland area.Mike Ferrante, real estate agent from Century 21 also joins us amongst other guests.In this podcast, we seek to take our experience and provide insight and inspiration for outside investors looking to buy property in Cleveland.
The Cleveland Real Estate Investor
Do You Really Know What The Cost Of The Property You're Buying Is?
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Reilly Properties
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Episode 112
Mike, Brook, and A’marri break down the hidden costs of Cleveland investment properties—how out-of-town buyers often underestimate rehab budgets, the importance of neighborhood quality, and why working with the right team prevents costly mistakes.
1:00 Mike shares a story about an out-of-town investor who underestimated repairs by nearly $100K.
2:30 The team explains how to calculate the true value of a property by factoring in rehab costs before buying.
5:00 Brook emphasizes the importance of choosing the right neighborhood and knowing realistic comps.