New to real estate in central and northern Ohio

[Jacob DeLorge]

Looking for what my first steps should be in getting into flipping or possibly owning a rental 

[Melissa Justice]

@Jacob DeLorge,

Hey! Great to see you're exploring real estate! Whether you're leaning toward flipping or buy-and-hold rentals, you’re already doing the most important thing - asking questions and getting plugged into the community.

If You’re Thinking About Flipping:
Start with market research - You need to know the ARV (after-repair value) trends, demand, days on market, and buyer profile.

Build your team early: Contractor, agent (who works with investors), lender, and possibly a mentor or JV partner if it's your first flip.

Know your numbers cold: Follow the 70% rule (Max purchase price = 70% of ARV - repair costs).

Get prequalified with a hard money lender to understand your buying power and terms.

If You’re Thinking Rentals:
Decide your goal first - Cash flow? Appreciation? BRRRR?

Choose your market carefully - You want strong rent-to-price ratios, decent tenant base, and manageable property taxes.

Line up a property manager early, even if you don’t hire them immediately. A good PM will help you avoid bad neighborhoods and identify the right product type.

If you’re looking for a great place to get started, especially with a modest budget and flexibility between flips or rentals, Akron and Canton are super underrated markets for both strategies:

Low entry prices: You can find solid single-family homes and small multis for well under $150K, sometimes even $80–120K.

Strong rent-to-price ratios: Perfect for cash-flow-focused rentals or BRRRR plays.

Steady demand: Especially for working-class housing, and flips priced below the FHA loan limits tend to move fast.

Investor-friendly PMs and agents: There's an active investor community there, and more lenders are familiar with these markets.

Whether you're doing a light cosmetic flip or buying your first rental, Akron/Canton offers low capital risk, high learning potential, and room to scale without needing huge cash reserves.

I'd suggest the following for next steps:
Narrow your strategy (flip, rental, or BRRRR?) and define your budget.
Connect with local agents or wholesalers in Akron/Canton who work with investors.
Join local REI groups or BP meetups - tons of off-market deals and real advice flow through those.
Walk properties, even virtually, to understand what kind of rehab you're comfortable with.
Analyze 5–10 deals/week to build your “deal radar.”

Always happy to share more about Akron/Canton resources and what a good first deal might look like there. You're in the right place!

Best of luck!