Motivated first-time investor - MidWest Market Help Needed

Los Angeles County, California
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Motivated first-time investor - MidWest Market Help Needed

Jamial Clark
Member since 2023 路 13 posts 路 8 votes

Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.

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Most Popular Reply

Matt Giacinto
Investor 路 Los Angeles 路 Member since 2021 路 94 posts 路 29 votes
3y

Hey Jamial, I'm also located in Los Angeles, but I invest in the Midwest as well. Let's connect and see how we can help each other.

4Reply
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  • Matt Giacinto
    Investor 路 Los Angeles 路 Member since 2021 路 94 posts 路 29 votes
    3y

    Hey Jamial, I'm also located in Los Angeles, but I invest in the Midwest as well. Let's connect and see how we can help each other.

    4Reply
  • Joshua Matthews
    Real Estate Agent 路 Indianapolis, IN 路 Member since 2022 路 45 posts 路 52 votes
    3y

    Jamial, let me know if you want to get into the Indianapolis market. There's a lot of development that has broken ground and corresponding investments pouring in. Happy to jump on a call. I'll DM you as well. 

    1Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Joshua Matthews:

    Jamial, let me know if you want to get into the Indianapolis market. There's a lot of development that has broken ground and corresponding investments pouring in. Happy to jump on a call. I'll DM you as well. 


     Thank you

    0Reply
  • Sam McCormackBusiness Member
    Real Estate Agent 路 Cincinnati, OH/NKY 路 Member since 2021 路 1k+ posts 路 833 votes
    3y

    @Jamial Clark

    Hi Jamial, I am an agent in Cincinnati and can help you around greater Cincinnati! I know we can find something here for you, let me know if you are interested!

    [email protected]859-443-4952
    Sam McCormack Realtor
    View Page
    1Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.

    Simple, all you need to do is connect with those that provide rentals to out of state investors, but you better be cash, (you will need about 100k ) as there is tons of competition . 10% or better net caps are to be had 
    All the best 

    1Reply
  • Harrison Chow
    Real Estate Agent 路 Columbus, OH 路 Member since 2019 路 292 posts 路 364 votes
    3y
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


    Hello Jamial! Welcome to BP! Why don't you give the Columbus, OH market a shot? As a resident and investor in Columbus, I can attest to the fact that investing in the suburbs here is a wise choice. It is a thriving city that is attracting several major companies, which will bring in thousands of job opportunities in the next few months and years. This, in turn, is driving population growth, with an annual increase of 0.75%. Employment growth is also on the rise, with a yearly increase of 3.58%. Rent prices in Columbus have also gone up by 6% each year. Let me know how I can help and would be happy to chat more with you regarding the subject!



    3Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Bob S.:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.

    Simple, all you need to do is connect with those that provide rentals to out of state investors, but you better be cash, (you will need about 100k ) as there is tons of competition . 10% or better net caps are to be had 
    All the best 

    Thank you for the feedback. I do have that amount to invest.
    0Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Sam McCormack:

    @Jamial Clark

    Hi Jamial, I am an agent in Cincinnati and can help you around greater Cincinnati! I know we can find something here for you, let me know if you are interested!


     I would like to here more. Please inbox me.

    0Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Harrison Chow:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


    Hello Jamial! Welcome to BP! Why don't you give the Columbus, OH market a shot? As a resident and investor in Columbus, I can attest to the fact that investing in the suburbs here is a wise choice. It is a thriving city that is attracting several major companies, which will bring in thousands of job opportunities in the next few months and years. This, in turn, is driving population growth, with an annual increase of 0.75%. Employment growth is also on the rise, with a yearly increase of 3.58%. Rent prices in Columbus have also gone up by 6% each year. Let me know how I can help and would be happy to chat more with you regarding the subject!




     Thank you for the information. Let's connect.

    0Reply
  • Reed Rickenbach
    Real Estate Broker 路 Memphis, TN 路 Member since 2020 路 202 posts 路 203 votes
    3y

    @Jamial Clark - welcome! I'm a Memphis local investor/agent so happy to answer any specific questions you have. Definitely recommend finding strong "boots on the ground" here before purchasing. 

    2Reply
  • Ryan Lesley
    Real Estate Agent 路 Fort Collins, CO 路 Member since 2023 路 171 posts 路 116 votes
    3y

    Hey @Jamial Clark,

    I and my team work with investors in the Denver market, I will send you a connect request and we can talk more about opportunities in this market if you are interested. 馃

    2Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Jamial Clark:
    Quote from @Bob S.:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.

    Simple, all you need to do is connect with those that provide rentals to out of state investors, but you better be cash, (you will need about 100k ) as there is tons of competition . 10% or better net caps are to be had 
    All the best 

    Thank you for the feedback. I do have that amount to invest.

     Well than all you need to do is connect with those that provide them in the area you are wanting.  I know there are 100s of investors from CA that have been buying in the Cleveland markets for years and years, 

    1Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y

    I appreciate all the feedback. I can't wait to get started investing.

    0Reply
  • Lee Yoder
    Rental Property Investor 路 Lebanon, OH 路 Member since 2016 路 224 posts 路 228 votes
    3y

    @Jamial Clark, I would highly suggest you have an experienced team you trust on the ground in Memphis before you consider investing there. Don't fall into the trap that many on the east and west coast fall into. They think that just because you can buy real estate much cheaper in the Midwest, it must be easier to make money on it. That is rarely true, and it's definitely not true now that the market has turned. 

    2Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Lee Yoder:

    @Jamial Clark, I would highly suggest you have an experienced team you trust on the ground in Memphis before you consider investing there. Don't fall into the trap that many on the east and west coast fall into. They think that just because you can buy real estate much cheaper in the Midwest, it must be easier to make money on it. That is rarely true, and it's definitely not true now that the market has turned. 


     Thank you, Lee, for the feedback. I am in the process now to identify an experienced team. 

    1Reply
  • Kerry Noble JrPro Member
    Investor 路 Indianapolis, IN 路 Member since 2018 路 2k+ posts 路 1k+ votes
    3y

    Definitely would love to connect with you here in the Central IN region

    0Reply
  • Steven Foster Wilson
    Rental Property Investor 路 Columbus, OH 路 Member since 2017 路 3k+ posts 路 3k+ votes
    3y

    Hey Jamial, you should check out Cleveland. Your money will go very far, you'd be able to pick up a multifamily portfolio and start your cash flow. Not to mention Ohio is a landlord-friendly state.

    2Reply
  • Pradeep Shrestha
    Investor 路 Cincinnati, OH 路 Member since 2022 路 34 posts 路 13 votes
    3y

    Hello Jamial, 

    Welcome to BP. I am from Cincinnati, Oh. I moved over here about a year ago in order to get into multifamily investing. Let me know how I can help. 

    1Reply
  • Tim Debronsky
    Full-Time Investor & Agent 路 Amherst, OH 路 Member since 2014 路 149 posts 路 50 votes
    3y

    @Jamial Clark I agree with @Steven Foster Wilson Cleveland is a great market to get started. I'm an investor/agent here in Cleveland if you want some help. 

    0Reply
  • Andres Murillo
    Real Estate Agent 路 Los Angeles, CA 路 Member since 2022 路 137 posts 路 106 votes
    3y

    Hey @Jamial Clark ! I'm in LA and have been investing/consulting remote investors for over 5 years. Memphis is every out-of-state investor's first "seems like a great market" market. The low prices and higher rent/price ratios definitely help it stand out but like most "high cash flow" markets, the risk is in the longevity of the investment. I'd love to connect and share more about what I've learned. I have two offices (Covina and Beverly Hills). I'll PM you as well. 

    0Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


     There is a reason 100s if not thousands of investors from Ca have been buying in the Cleveland markets for many years. 7, 8 years ago they were getting 20% ++ net caps based on cash purchase, ( pricing has doubles tripled or more ) now 10% is the norm.  Memphis no. I know many that left that market and went to OH

    All the best 

    All the best 

    0Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Bob S.:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


     There is a reason 100s if not thousands of investors from Ca have been buying in the Cleveland markets for many years. 7, 8 years ago they were getting 20% ++ net caps based on cash purchase, ( pricing has doubles tripled or more ) now 10% is the norm.  Memphis no. I know many that left that market and went to OH

    All the best 

    All the best 


     I've recently shifted my focus to OH over the last week.

    0Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Jamial Clark:
    Quote from @Bob S.:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


     There is a reason 100s if not thousands of investors from Ca have been buying in the Cleveland markets for many years. 7, 8 years ago they were getting 20% ++ net caps based on cash purchase, ( pricing has doubles tripled or more ) now 10% is the norm.  Memphis no. I know many that left that market and went to OH

    All the best 

    All the best 


     I've recently shifted my focus to OH over the last week.


     where ? Did you buy anything ?

    0Reply
  • Jamial Clark
    OP
    Member since 2023 路 13 posts 路 8 votes
    3y
    Quote from @Bob S.:
    Quote from @Jamial Clark:
    Quote from @Bob S.:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


     There is a reason 100s if not thousands of investors from Ca have been buying in the Cleveland markets for many years. 7, 8 years ago they were getting 20% ++ net caps based on cash purchase, ( pricing has doubles tripled or more ) now 10% is the norm.  Memphis no. I know many that left that market and went to OH

    All the best 

    All the best 


     I've recently shifted my focus to OH over the last week.


     where ? Did you buy anything ?


     Not yet. We are in the process of interviewing agents.

    0Reply
  • Bob S.
    Real Estate Consultant 路 Cleveland 路 Member since 2020 路 6k+ posts 路 3k+ votes
    3y
    Quote from @Jamial Clark:
    Quote from @Bob S.:
    Quote from @Jamial Clark:
    Quote from @Bob S.:
    Quote from @Jamial Clark:

    Hello, I am excited to be a part of the bigger pockets community. I am located in the Los Angeles area and looking to acquire cash flowing apartment building in the Midwest. I am open to other locations as well and want to connect with like-minded individuals for advice and guidance. I've researched the Memphis, TN area and would like some insight into that market. I have great credit and liquidity.


     There is a reason 100s if not thousands of investors from Ca have been buying in the Cleveland markets for many years. 7, 8 years ago they were getting 20% ++ net caps based on cash purchase, ( pricing has doubles tripled or more ) now 10% is the norm.  Memphis no. I know many that left that market and went to OH

    All the best 

    All the best 


     I've recently shifted my focus to OH over the last week.


     where ? Did you buy anything ?


     Not yet. We are in the process of interviewing agents.


     Agents? that is not where the deals are. In 10 years I never used them, well maybe for a handful out of the 500 or so I have done

    Good luck 

    0Reply
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