New Member from Cleveland Ohio area

[Dave Raney]

Hello, My name is Dave Raney. I am new to both Bigger Pockets and Real Estate Investment in general. I am looking to get into both flips and buy and holds. I have been looking for my first deal for the last 3 months, but the homes I have been interested in have sold for significantly more than my parameters allow. I have been listening to the podcast daily, and have put together criteria based on the 2% and 70% rules. I understand these are just guidelines. Any information on how to break into this hot market would be greatly appreciated. I am targeting the west suburbs of Cleveland, Ohio (Brook Park, Middleburg Hts, Parma, Parma Hts, Strongsville, North Ridgeville, North Royalton, Brunswick, Columbia Station) Thank you for reading this, and I am excited to expand my network!

[James Wise]

Originally posted by @Dave Raney:

Hello, My name is Dave Raney. I am new to both Bigger Pockets and Real Estate Investment in general. I am looking to get into both flips and buy and holds. I have been looking for my first deal for the last 3 months, but the homes I have been interested in have sold for significantly more than my parameters allow. I have been listening to the podcast daily, and have put together criteria based on the 2% and 70% rules. I understand these are just guidelines.

Any information on how to break into this hot market would be greatly appreciated. I am targeting the west suburbs of Cleveland, Ohio (Brook Park, Middleburg Hts, Parma, Parma Hts, Strongsville, North Ridgeville, North Royalton, Brunswick, Columbia Station)

Thank you for reading this, and I am excited to expand my network!

 The market is hot right now. A few years ago there was a surplus of bank owned inventory available for the taking. That stream has since dried up. With the fact that inventory is so low your only shot would be to spend an incredible amount of money on direct marketing as well as only focus on the higher end inventory. The popularity of real estate investing has exploded so your lower rung properties have increased competition and you will always be bid out of the properties is your trying to buy using a "70% rule"