Newbie investor - Looking for help and guidance.
Cleveland OH, Akron OH · Member since 2021 · 3 posts · 12 votes
Newbie investor - Looking for help and guidance.
Most Popular Reply
Hi @Sharan Sudhir, welcome to BP!
A good first step is building your team before you buy the property.
With $50K available and no prior experience, I’d be especially conservative with your first Cleveland/Akron project. The goal shouldn’t just be finding a property that “looks cheap” — it’s finding a deal where the purchase price, rehab budget, financing, holding costs, and exit strategy all leave enough room for surprises.
I’d recommend connecting with:
• An investor-friendly agent who knows the neighborhoods block-by-block
• A lender who regularly finances fix & flips/BRRRRs
• A reliable contractor who can provide detailed scopes and realistic rehab estimates
• A title company/attorney familiar with investor transactions
• A local investor who has actually completed projects in the area
For your first deal, I would underwrite conservatively and stress-test the numbers rather than relying on the best-case ARV or rehab estimate. Make sure you understand your total cash requirement, including down payment, closing costs, rehab, interest, insurance, utilities, permits, and contingency.
Also, don't underestimate the importance of neighborhood selection. In Cleveland and Akron, two properties that look similar on paper can perform very differently based on the exact location, street, rental demand, resale activity, and surrounding properties.
If you're looking for a lender, I'd be happy to discuss the financing side and show you how we typically look at a fix & flip or BRRRR deal before you make an offer. Sometimes getting the financing structure figured out first can help you determine what your actual buy box should be.
Best of luck — being willing to learn before jumping into the first deal is already a good start.
18 Replies
Hi @Sharan Sudhir, welcome to BP!
A good first step is building your team before you buy the property.With $50K available and no prior experience, I’d be especially conservative with your first Cleveland/Akron project. The goal shouldn’t just be finding a property that “looks cheap” — it’s finding a deal where the purchase price, rehab budget, financing, holding costs, and exit strategy all leave enough room for surprises.
I’d recommend connecting with:
• An investor-friendly agent who knows the neighborhoods block-by-block
• A lender who regularly finances fix & flips/BRRRRs
• A reliable contractor who can provide detailed scopes and realistic rehab estimates
• A title company/attorney familiar with investor transactions
• A local investor who has actually completed projects in the areaFor your first deal, I would underwrite conservatively and stress-test the numbers rather than relying on the best-case ARV or rehab estimate. Make sure you understand your total cash requirement, including down payment, closing costs, rehab, interest, insurance, utilities, permits, and contingency.
Also, don't underestimate the importance of neighborhood selection. In Cleveland and Akron, two properties that look similar on paper can perform very differently based on the exact location, street, rental demand, resale activity, and surrounding properties.
If you're looking for a lender, I'd be happy to discuss the financing side and show you how we typically look at a fix & flip or BRRRR deal before you make an offer. Sometimes getting the financing structure figured out first can help you determine what your actual buy box should be.
Best of luck — being willing to learn before jumping into the first deal is already a good start.
- 2moArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 954 votes
Quote from @Sharan Sudhir:
I am first time investor with no experience in Real Estate, Canadian National, have 50K for fix and flip or BRRRR properties, looking to connect with agents, lenders and contractors who do this everyday primarily focused in Cleveland and Akron area, want to work with someone who can help and guide me through the process on what to look for in a neighborhood, how conservative I should be with rehab budget and execute with a plan.
I have visited Cleveland thrice but currently I am all over the place, want to understand it more through a agents perspective.Thanks.
You’re actually in a good position because you already know the Cleveland/Akron area and have capital set aside. For a first BRRRR or flip, I’d focus less on finding the “perfect” neighborhood and more on having conservative numbers, a realistic rehab budget with plenty of contingency, and a team that knows the local market. A good investor-friendly agent, lender, and contractor can save you from expensive mistakes. I’d also avoid stretching the $50K too thin on your first project and make sure you have reserves beyond the initial rehab budget. - 2moStacy RaskinBusiness MemberLender · Member since 2022 · 1k+ posts · 512 votes
Fix and flip financing can be a challenge to get as a foreign national- DSCR loans for foreign nationals are easier to obtain. There are different options depending on if the loan amount is above $100K or below $100K. If the loan amount is above $100K, there are options to put less money as a down payment compared to the under $100K loan option.
Also, based on clients I have worked with who have bought multiple investment properties in Cleveland, I would recommend you visit the properties yourself as the areas can vary quite a bit even when the properties are relatively close to each other.
DSCR loans are for ready to rent rental properties-not properties that need significant work done. They need to pass an appraisal where the appraiser doesn't say work is needed to close the loan. It's ok for the property to look dated but not for example to have holes in the walls or floors or anything that the appraiser can flag as health and safety issues. Happy to connect to discuss further.
Bright Skyline518 Reviews - 2moEdward Patrick AkinyemiBusiness MemberReal Estate Agent · Mansfield, OH · Member since 2023 · 11 posts · 6 votes
Quote from @Sharan Sudhir:
I am first time investor with no experience in Real Estate, Canadian National, have 50K for fix and flip or BRRRR properties, looking to connect with agents, lenders and contractors who do this everyday primarily focused in Cleveland and Akron area, want to work with someone who can help and guide me through the process on what to look for in a neighborhood, how conservative I should be with rehab budget and execute with a plan.
I have visited Cleveland thrice but currently I am all over the place, want to understand it more through a agents perspective.Thanks.
Hi Sharan,
I'm a local agent in the Mansfield OH area (roughly 1 hr south of Cleveland) and have lived and invested here for almost 10 years. Cleveland is a tough market because it's pretty saturated and $50k is probably not enough to get you into that market but I would be happy to help you create a buy box in the Cleveland/Akron area and surrounding communities. In my area you can get turnkey properties for around $120k so maybe that would be an easier starting point? - Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 606 votes2mo
@Sharan Sudhir Welcome to the BP community. You are in a great place to connect with experienced investors and real estate professionals. Since you are investing from Canada, building a strong local team in Cleveland/Akron will be especially important. Best of luck with your first deal.
- Washington, DC · Member since 2025 · 19 posts · 6 votes1mo
Quote from @Sharan Sudhir:
I am first time investor with no experience in Real Estate, Canadian National, have 50K for fix and flip or BRRRR properties, looking to connect with agents, lenders and contractors who do this everyday primarily focused in Cleveland and Akron area, want to work with someone who can help and guide me through the process on what to look for in a neighborhood, how conservative I should be with rehab budget and execute with a plan.
I have visited Cleveland thrice but currently I am all over the place, want to understand it more through a agents perspective.Thanks.
Boy do I have a tool for you! lol
Welcome to the group/board. May your ride be enjoyable and nothing but positive.You taking a chance is a huge step in itself.
Hope to connect with you!
Cheers - 1moShiloh LundahlPro MemberRental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
@Sharan Sudhir here is your first tip (from me at least). Rather than focus on connecting with realtors, go onto Facebook, then go on to groups, then type in the search bar (within the groups area) "real estate investing Cleaveland" or whatever city you are interested in. Then join all those groups. Then within each of those groups make a post saying that you are a real estate investor and you would like to be added to to their buyers list and then asked them to send you a DM and you will give their your email address. Then give them an email address that you created specifically for real estate. It could be Sharanbuyshouses at gmail dot com or something like that. This will help you start to get deal flow. Then you can start to analyze the deals each day. Get familiar with the ARV (after repair value) by looking at Zillow, Realtor.com, and Redfin. Then when you get deals from wholesalers you can compare the prices with what you know the properties should sell for. Then you get to learn about estimated rehab costs.
Good luck to you Sharan. Let me know if I can be a help to you on your journey.
- Cleveland OH, Akron OH · Member since 2021 · 3 posts · 12 votes1mo
Quote from @Shiloh Lundahl:
@Sharan Sudhir here is your first tip (from me at least). Rather than focus on connecting with realtors, go onto Facebook, then go on to groups, then type in the search bar (within the groups area) "real estate investing Cleaveland" or whatever city you are interested in. Then join all those groups. Then within each of those groups make a post saying that you are a real estate investor and you would like to be added to to their buyers list and then asked them to send you a DM and you will give their your email address. Then give them an email address that you created specifically for real estate. It could be Sharanbuyshouses at gmail dot com or something like that. This will help you start to get deal flow. Then you can start to analyze the deals each day. Get familiar with the ARV (after repair value) by looking at Zillow, Realtor.com, and Redfin. Then when you get deals from wholesalers you can compare the prices with what you know the properties should sell for. Then you get to learn about estimated rehab costs.
Good luck to you Sharan. Let me know if I can be a help to you on your journey.
Hi @Shiloh Lundahl, thanks for the great advice, I just created a new email address and on my way to posting on facebook real estate groups in Cleveland. Thanks you very much!
- 1moShiloh LundahlPro MemberRental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
Quote from @Sharan Sudhir:
Quote from @Shiloh Lundahl:
@Sharan Sudhir here is your first tip (from me at least). Rather than focus on connecting with realtors, go onto Facebook, then go on to groups, then type in the search bar (within the groups area) "real estate investing Cleaveland" or whatever city you are interested in. Then join all those groups. Then within each of those groups make a post saying that you are a real estate investor and you would like to be added to to their buyers list and then asked them to send you a DM and you will give their your email address. Then give them an email address that you created specifically for real estate. It could be Sharanbuyshouses at gmail dot com or something like that. This will help you start to get deal flow. Then you can start to analyze the deals each day. Get familiar with the ARV (after repair value) by looking at Zillow, Realtor.com, and Redfin. Then when you get deals from wholesalers you can compare the prices with what you know the properties should sell for. Then you get to learn about estimated rehab costs.
Good luck to you Sharan. Let me know if I can be a help to you on your journey.
Hi @Shiloh Lundahl, thanks for the great advice, I just created a new email address and on my way to posting on facebook real estate groups in Cleveland. Thanks you very much!
Wonderful. Now your next step is to look at the market that you wan to buy properties in on Zillow, Redfin, and realtor dot com so that you will start getting emails from those websites that show you listings that come up on the market. This is important because it is a good way to see what houses are coming up for on the market and you can get familiar with the market prices in your market and this will help you start to recognize when you spot a good deal.
- 1moDivin KanyamaBusiness MemberAccountant · Seattle, WA · Member since 2025 · 433 posts · 177 votes
@Sharan Sudhir I’d recommend first building a strong local team before buying, especially as a new out-of-country investor.
Cleveland and Akron can be good markets, but they are very neighborhood- and block-specific. Focus on finding an investor-friendly agent who can explain rents, tenant quality, resale demand, and areas to avoid. When vetting agents, ask how many investor deals they’ve done, whether they own rentals themselves, what neighborhoods they specialize in, and if they can provide contractor, lender, inspector, and property manager referrals.
With $50K, I’d stay conservative on rehab numbers, avoid heavy projects at first, and make sure the deal still works if costs run higher or the refinance/appraisal comes in lower.
- 1moAlfath AhmedBusiness MemberReal Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Sharan Sudhir:
I am first time investor with no experience in Real Estate, Canadian National, have 50K for fix and flip or BRRRR properties, looking to connect with agents, lenders and contractors who do this everyday primarily focused in Cleveland and Akron area, want to work with someone who can help and guide me through the process on what to look for in a neighborhood, how conservative I should be with rehab budget and execute with a plan.
I have visited Cleveland thrice but currently I am all over the place, want to understand it more through a agents perspective.Thanks.
Good to connect with you @Sharan Sudhir. I'm an investor agent based in Columbus. I own 30 rental units here that I acquired through house-hacking and by the BRRRR method.
I personally would recommend looking inside of columbus if you are a complete beginner doing the brrrr method. I have lenders that can finance for canadian nationals and I can share a bunch of resources like neighborhood graded maps and contractor spreadsheets.
Feel free to pm me.
ReafCo | Ahmed Group 539 Reviews - Real Estate Broker · Cleveland, OH · Member since 2023 · 221 posts · 84 votes1mo
Oh my God, this is a lot, man.
Congrats, man. You got $50K. That’s cool. Being a seasoned Cleveland investor for over two decades, a broker, and someone who oversees a property management company, let me give you my take.
I’m looking at the advice people gave you: That all sounds good. It lines up with the whole “build your team” advice. But the problem I see is this: how do you know?
How do you know the investor-friendly realtor is the right one? What criteria do you have to evaluate that person? How do you know the lender, contractor, title company, or attorney actually fits what you are trying to do?
And the investor part has more validity, but just because you’re an investor and I’m an investor does not mean the way you do things is the way I want to do things.
Having managed properties for hundreds of investors, I can tell you they don’t all do the same thing. Everybody has their own approach. Everybody thinks they have the formula, or they’re still trying to figure it out.
It sounds nice when people say, “Go look for this.” You feel like you have a list and you’re accomplishing something by checking boxes. But you still don’t know when you found the right person.
You don’t know how that applies to you specifically, how it gives you an advantage, or how it protects you and your $50,000.
And same thing with joining all these Facebook groups and telling everybody what you’re looking for.
I don’t know when running into business-oriented people who want to make money automatically means they will benefit you. That’s the part we’re missing.
The key component is having somebody really on your side. It’s not just having people on your team. Are they promoting my best interest? Are they looking out for me?
Because collecting contact information and going through motions doesn’t mean anything. I’m reading this, man, and I feel bad for him because what he is really looking for is help and guidance.
He is looking for someone to take him under their wing and say, “Look, this works. This doesn’t. I know what this looks like on the surface, but don’t do it. This is where the rubber meets the road.”
And here is the disconnect. We have real estate gurus selling courses. That is the beginning of the problem.
Because the guru selling you a course and their philosophy is not always the same person helping you select the property, evaluate the deal, manage it, and deal with the outcome after you buy it.
That level of accountability is priceless. If someone guides you through selection and evaluation, and then also has to help manage the property, they have to deal with the direction they gave you.
So don’t just run and go meet people. Ask yourself the real question: how do I get them to have a vested interest in my success?
How do I structure the relationship so if they misstep in guiding me, they also have to deal with the consequences later? So it’s not only me feeling the pinch. They feel it too, at least professionally.
Because the danger is not that you can’t find people. The danger is thinking you have a team when nobody on that team is truly accountable for protecting you and your $50,000.
- 1moAshish AcharyaBusiness MemberCPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
Sharan, welcome. Since you’re looking at Cleveland/Akron with about $50K, I’d keep the first deal simple enough that one bad contractor or appraisal does not wipe out your capital.
For a first BRRRR, I'd want a very conservative rehab budget with a real contingency, recently sold renovated comps supporting the ARV, realistic rent comps, and a refinance scenario that still works if the appraisal comes in lower than expected. I'd also make sure you have enough cash left after closing for carrying costs and surprises rather than using the full $50K just to get into the deal.
Your Canadian status is another reason to get the structure right before buying. U.S. rental income can be taxed differently for a nonresident alien, and there is an election under IRC 871(d) that can allow qualifying U.S. real estate income to be taxed on a net basis with attributable deductions rather than simply on gross rental income. U.S. real estate ownership can also create estate-tax considerations for non-U.S. citizens, so I would not form an LLC first and assume the entity solves everything.
If you flip instead of holding, that is active business income and needs a different tax analysis. One important point for you specifically is that a nonresident alien cannot be an S-Corp shareholder, so the usual “just use an S-Corp for flips” advice may not apply.
If you BRRRR and keep the property as a rental, I'd also evaluate cost segregation once it is placed in service. It may accelerate depreciation, but you want to understand whether the resulting losses are actually usable within your U.S. tax situation before counting on the benefit.
Build the local team first, then buy the property. For an out-of-country first investment, the contractor and property manager can matter just as much as the purchase price.
Happy to connect!
INVESTOR FRIENDLY CPA®5240 Reviews - 1moVijay FriedmanBusiness MemberMiami, FL · Member since 2026 · 766 posts · 123 votes
Quote from @Sharan Sudhir:
I am first time investor with no experience in Real Estate, Canadian National, have 50K for fix and flip or BRRRR properties, looking to connect with agents, lenders and contractors who do this everyday primarily focused in Cleveland and Akron area, want to work with someone who can help and guide me through the process on what to look for in a neighborhood, how conservative I should be with rehab budget and execute with a plan.
I have visited Cleveland thrice but currently I am all over the place, want to understand it more through a agents perspective.Thanks.
@Sharan Sudhir
With $50K available, I'd figure out your financing parameters before getting something under contract, especially as a first-time investor and Canadian national. That will give you a realistic buy box for purchase price, rehab and required cash rather than finding a deal first and then discovering the financing doesn't fit. For a BRRRR, I'd also underwrite the DSCR refinance exit before buying. - 1moDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
Target a Class B rental, NOT C or D!
Logical Property Management4.9460 Reviews - Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes1mo
Biggest thing out of town investors need to do is figure out what's what in the Cleveland market. You can really get yourself in trouble just looking at the best priced properties on Zillow. There are reasons why properties are priced the way they are and if you don't understand those going into it, you'll get smoked.
Check out The Ultimate Guide to Grading Cleveland Neighborhoods to learn the lay of the land so to speak. 1,000's of investors have used this guide to help them minimalize risk when they invest in Cleveland.
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