Investing OOS in Cleveland, Core 4 Team Recommendations & More
Okay, it's been several weeks since I posted here as a newbie, and several months since I've been lurking on the forums and listening to the podcasts. I've also had phone conversations with some of you and met multiple times with certain local REI's. I'm here to tell you I am NOT one of those peeps that will end up disappearing or never doing anything. However, after learning a lot about my local market (Portland, Oregon) and other markets, after hearing about your experiences and deals, and most importantly (for me) hearing and learning from @David Greene on the Podcast, I've refined my goals to the following.
- 1.Continue to keep my eyes open for potential deals in and around Portland and/or the Oregon Coast. (Coast strategy would be multi-family rental with one unit reserved for vacation rental and use).
- 2.Pull the trigger (soon) on a long-distance buy and hold or BRRR: multi-family. I'm looking at the Cleveland area.
Within the next 30 days I’ll be ready to move on strategy #2 above. I have a couple questions I hope some of you can help with:
- 1.I’ve heard some of you say that a property for $30-$50K is trouble (for various reasons). I’ve seen duplexes in around Cleveland for anywhere from $25K to $70K. This affordability is part of what draws me to the area. I’ve reviewed @James Wise Cleveland neighborhood map, and it looks like there’s definitely room in this price range even in B neighborhoods. Has anyone from out of state had good experiences buying in this price range and holding a cash-flowing multi-family rental? What are the warnings about?
- 2.Thanks to @David Greene, I know I need to build up my “Core 4” team in the area I’m interested in. Here’s where you awesome people come in. I want to build this team – preferably of people that already work well together. I would LOVE a recommendation for a ROCK STAR:
a.Lender
b.Agent
c.Property Manager
d.Contractor
- 3.This is a random question – but after reading the thread (can't find it now) from the guy who developed the system for searching through podcasts, and after hearing many of you talk about offering some kind of value……I'd like to offer value to others and contribute to the community. As a REI newbie, however, I'm at a loss as to how to do this! So…..I'm a college and university instructor in the areas of Business Administration and Management/Supervisory Development. I currently manage these two departments for Portland Community College as Faculty Department Chair. I also have my own business providing Leadership Development (Corporate Training) and Executive Coaching to (mostly local) clients such as Daimler (Western Star), Trimet, Oregon Dept. of Transportation, Bonneville Power Administration and others. WHAT IN THE HECK CAN I DO FOR YOU?? I'm serious. I want to be helpful. Holler if there's something you can think of :o)
Thanks for reading this super-long post. Aren’t you glad I mostly just read yours?