Seeking Advice on Ohio Market for Long-Distance Investing!

[Rhaheem Blanden]

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

[Noah Bacon]

Hey Rhaheem! Welcome to BiggerPockets and thanks for joining!

Here are some tips for networking and making the most of your account.

1) I'd fill out your profile fully before you do anything else! As that will at least help folks that you reach out to know that you are a real person, with a picture and professional bio. Particularly be sure to include your goals for real estate investing so that folks can help you.

2) Go to the Search bar, and look for some local members in your area! Reach out to a few of the folks, perhaps those with hundreds or thousands of posts in this forum, and connect. You can do that here.

3) Check out some of the local meetups that you can find in this forum! There are so many so be sure to filter by your location.

4) Review this comprehensive 64 page deck on the state of the 2023 housing market (in your resource page as a member of BiggerPockets!) for real estate investors put together by Dave Meyer and available for all BiggerPockets members.

5) Consider meeting with a few agents in your area even if you are just getting started! An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do.

6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

7) Lastly, I'd check out David Greene's Book Long-Distance Real Estate Investing for additional insights and tips on Long-Distance Investing.

Hope this helps! Please reach out with any questions you may have!

[Jimmy Lieu]

Quote from @Rhaheem Blanden:

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

Hi Rhadeem, I strongly recommend partnering with an investor agent whichever market you choose. I specifically work in the Columbus Ohio market and I personally have done BRRRRs, flips, and own my own successful rental portfolio. You want to find a real estate agent who is an investor themselves and have done all of the above because they already have an established network of PMs, GCs, lenders, etc. that they can refer over to you. As a local investor and agent here in Columbus Ohio, let me know if you have any questions or want to connect!

[Joshua Janus]

Quote from @Rhaheem Blanden:

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

I would advise finding an investor friendly realtor when you choose a market. You really want someone that invests in their market themselves and understands the numbers. They should be able to determine the COC, annualized return, estimated ARV of a BRRRR, accurate rent comps and more. The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions if you go that route. If they just represent first time single family home buyers and aren’t constantly finding off market properties and reviewing deals, you’ll find a better investment through someone else.

https://www.kiavi.com/blog/out...
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I choose to invest in Cleveland and Columbus, Ohio. Cleveland is ideal for lower priced multi family properties with soaring cash flow. Columbus is a top five appreciating city in the US with an unexpected mix of cash flow which is backed up by a population and job growth. Breaking the One Percent Rule isn’t uncommon in either of these areas and can be applied as a baseline in situations where immense appreciation isn’t expected in B-C class neighborhoods. Whatever market you choose to put your money in, spend the time to learn it.

[Anthony L Amos Jr]

Quote from @Rhaheem Blanden:

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

 Hello! Wishing you much success on your journey. Would love to connect you with some local real estate professionals here in Columbus!

[Sam McCormack]

@Rhaheem Blanden

Hi Rhaheem, I am an agent in Cincinnati. I shot you a message

[Shayee Senbore]

Quote from @Sam McCormack:

@Rhaheem Blanden

Hi Rhaheem, I am an agent in Cincinnati. I shot you a message

I'm new to RE Investing, and I'm also located in Cincinnati.  I'd love to talk whenever you have a second about your knowledge & experience in the Cinci market.  Its tough to know the surburbs, where to buy etc...  Let me know if you are open to a phone call.

[James Wise]

Quote from @Rhaheem Blanden:

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

Lots of folks are interested in Cleveland & Akron. But word of caution, you can and many do lose money in these markets if they don't understand what they are buying. If you're looking to do some research on Cleveland neighborhoods you'll get a ton of value from The Ultimate Guide to Grading Cleveland Neighborhoods.

[Alfath Ahmed]

Quote from @Rhaheem Blanden:

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

Hey Rhaheem Blanden, Ohio is an awesome market to invest in. I just read a published article today by the Columbus Dispatch that Franklin County home values are supposed to rise by 30-35% with re-appraisal. We have had nearly a 39% property value gain from 2019 to 2022 in the Columbus market.

Let me know if you want to learn more about this market.