New to this

[Craig Fitch]

Got the subscription last year because I was expecting to get my first duplex through a VA loan. Going back and forth with the government I haven't been able to acquire the loan. So decided this year just going to get into the game. I am 42 and live outside of Cleveland Ohio and looking for a duplex in the Lakewood/Cleveland market. I do not own any property now and plan on living in one unit and renting out the other. I am open to other areas but for my first one I would like it to be in that area because I do most of my stuff aroudn there and work in Cleveland. I am writing this to see if anyone can give me any tips or tricks in this market and what they are seeing and to also start meeting other in the area and start growing my network. Like I said I am new to all of this and am looking for any assistance or advice appreciate any help!

[Allie McAlister]

Hi @Craig Fitch

Welcome to BP!

I’d be looking closely at price-to-rent ratios, property taxes, and making sure each side can comfortably cover the mortgage on its own if needed. Also, don’t underestimate older duplex maintenance in that area like plumbing, roof, separate utilities, etc.

If you’re open to other markets at all in the future, I’d recommend you take a look at Memphis. We still have lower entry points compared to a lot of Midwest markets and strong rent-to-price ratios, especially on small multifamily and single family rentals. It’s very landlord-friendly and can be a solid place to get your first “numbers-first” deal under your belt.

Happy to connect in future, and best of luck as you get started!