Insights on Long Distance investing in Cleveland, Ohio

[Johnson Joseph]

I've been in discussion with a wholesaler in Cleveland that's selling a distress multi-unit commercial (5 residential units & 1 retail space) property in Cleveland, Ohio in the Glenville area. The property needs complete rehab I am considering the investment as a rental and wanted to get some insight from investors that's have done or in the process of doing any deals in the surrounding area of Glenville Cleveland, Ohio. Any challenges you may have faced? What do look for? etc. 

Any resources I may be able to connect with being that I will be investing remotely. 

- Real Estate Agent 

-Contractors

-Property Management Companies 

-Attorney 

Thank you 

[Tj Hines]

@Johnson Joseph

Any challenges you may have faced? (You need to know everything about the Cleveland, OH market before investing there. Are jobs plentiful? Is it experiencing year over year population growth? Income growth? Are median rents trending upwards from a historical 5yr outlook? How's crime in the area? Is it trending downward or upward over the past 5 years? How's vacancy rates look over the past 5 yrs, trending up or down? Is the property located in the path of progress? Any new development nearby? These are just some things to think about ...)

What do look for? etc. (Do you have established boots on the ground you can trust besides your buddy who you will be buying the property from? You need a localized PM that specializes in that sub-market where you are buying.  Do you have reliable contractors or handymen you can trust? Just more critical things to think about before investing outside your own backyard)