Multi Unit Apartment Investing: Akron, Cleveland, Youngstown

Multi Unit Apartment Investing: Akron, Cleveland, Youngstown

Canfield, OH · Member since 2015 · 8 posts · 3 votes

Hi Folks.

Thinking of investing in areas mentioned above. Any suggestions? Moved to the area recently and newbie to REI. Akron seems to be OK!

Thanks.

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Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
11y

@Paulo Gama

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

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  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Paulo Gama

    Welcome. Fill in the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).

    Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

    You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good Luck

    Paul

  • Isaac RowePro Member
    Rental Property Investor · Cleveland, OH · Member since 2014 · 214 posts · 86 votes
    11y

    I can offer some insight into Cleveland, but don't know much about Akron and Youngstown.  

    BP is a GREAT resource.  Welcome! 

  • Canfield, OH · Member since 2015 · 8 posts · 3 votes
    11y

    Wow !! thank you all so much...

  • Lender · Rochester, NY · Member since 2014 · 3k+ posts · 1k+ votes
    11y

    @Paulo Gama 

    @James Wise 

    Has a great reputation and great knowledge of the Cleveland market. I wish you the best! 

  • Real Estate Investor · Vancouver, WA · Member since 2015 · 58 posts · 20 votes
    11y

    Fully agree with @Paul Timmins. I recently stumbled upon biggerpockets thru my landlording mentor. I'm interested in multi family too. The resources at your fingertips is invaluable! Learn, podcasts, forums, networking... You're on to something big. If you like what someone says click the vote button in the upper right hand corner of the comment so they get recognized for their contribution and have fun learning the business. It's an exciting time in REI

  • Specialist · Youngstown, OH · Member since 2014 · 51 posts · 12 votes
    11y

    @Paulo Gama

    Youngstown is a great real estate entry market. Depending on where you buy, entry prices are quite low. Our local REIA is the Mahoning Valley REIA.

    www.mahoningvalleyreia.com

  • Professional · Pittsburgh, PA · Member since 2013 · 88 posts · 42 votes
    11y

    Hi @Paulo Gama

    Welcome! I love seeing more and more Youngstown people on here!

  • Private Money Lender · San Diego, CA · Member since 2015 · 18 posts · 4 votes
    11y

    HI!  Cleveland is an excellent market right now for income properties.  If you are interested in learning about the properties I have for sale, please reach out to me... thanks!

  • PE + M&A · Woodbury , NY · Member since 2015 · 20 posts · 2 votes
    11y

    Hi Paulo, Welcome!

    My firm raises capital in the form of proprietary private equity for investments and structures joint ventures.

    We specialize in condo high rises and multi family townhouse developments etc

    Is this your area of expertise? Shoot me an email to discuss further.

    Thanks,
    Chris

  • North Las Vegas, NV · Member since 2017 · 2 posts · 1 vote
    9y

    I looked many other places but Youngstown kept coming into my path. Just purchased my first property there. I'll be checking out the REI group in Mahoney

  • Real Estate Investor · Oshawa, Ontario · Member since 2016 · 36 posts · 22 votes
    9y

    Hi @Stephanie Synclair I live in the Youngstown area.  Certain areas are good to invest in while others, not so much.  I love it here and can see a lot of value in investing here (as anywhere) if done right.  The advantage we have is price, things are incredibly cheap here compared with the rest of the country.  Good luck in your search!

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