Boris Gringauz has been buying and renovating Cuyahoga Land Bank Homes for years. As owner of Monocle Go, a full-service property management and residential real estate construction and consulting firm in Cleveland, he appreciates the opportunity to buy homes needing a little TLC at a bargain price from the Land Bank. “The first property I redeveloped I purchased from the Cuyahoga Land Bank in 2015,” says Boris.
Boris, who moved to Cleveland in 2011 to work in corporate finance, is finishing his most recent home renovation – a three-bedroom, one-bath Cape Cod-style home in Maple Heights he purchased through the Cuyahoga Land Bank’s Deed-in-Escrow program, in which the deed to the property is held “in escrow” by the Land Bank until all renovations are complete and have passed a final inspection.
Boris and his team at Monocle Go performed all the renovations, including installing a new roof, all new windows, and new HVAC, electrical and plumbing systems. “We also completely renovated the kitchen and bathroom,” says Boris. “It is now a true gourmet kitchen with beautiful cabinetry and light fixtures. There’s a large basement and backyard. It’s like a brand-new house!”
Boris plans to list the renovated house for sale in the hopes of selling it to a first-time home buyer. He is proud to have played a role in revitalizing the community and creating a beautiful home for a new family to enjoy.
“I would absolutely recommend the Land Bank’s Deed-in-Escrow Program,” says Boris. “But I caution people not to get in over their heads with the renovations. Sometimes bigger renovation jobs should be left to a professional.”
Boris’ story is a testament to the power of renovation and the potential of land bank properties. With a bit of vision and a lot of hard work, these neglected homes can be transformed into vibrant and valuable assets for the community.
Take a look at some before and after renovation photos.
