New member from Akron, OH area

New member from Akron, OH area

Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes

Hi all! I'm a relatively new investor located in Tallmadge, OH (just outside of Akron). Some brief history: my husband and I actually became landlords by necessity in 2007 when we found ourselves unable to sell our home due to the crash. We were completely green, had no idea what we were doing, and made a ton of mistakes (but learned a lot of what not to do...). We sold the house in 2010 at a loss, vowing never to become landlords again...(ha!)

We have had some positive real estate experiences as well: we purchased our second "investment" home in 2010 when we found a great deal, and moved in as owner occupants. We rehabbed the house and flipped it two years later, putting the money from the sale into "safe" mutual funds...3 years later we're frustrated by our returns and finally looking to get back into real estate, hopefully the right way this time.

I'm so thankful to have found BiggerPockets - we've learned so much from the site and the podcasts already! I'm trying to be a sponge and soak up as much advice and information as I can as we start this venture. We hope to start building a portfolio of rental properties over the next 10 years that will help fund our kids' college tuition, and then eventually supplement our retirement income. We're also contemplating doing some flips in order to gain more capital for the rental properties. So far we have placed an offer on a short-sale property, and I just sent letters out this morning to some absentee owners that we found by Driving for Dollars this week (a concept that was completely unknown to me a week ago!). We're excited to get started and get to know some of you in the BiggerPockets community!

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Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
11y

Welcome to BP community @Jen R. It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

Wishing you the best! 

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  • Flipper · Wooster, OH · Member since 2012 · 139 posts · 30 votes
    11y

    Welcome Jen!  This is a great place to meet other investors and to learn.

    Raul.

  • Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes
    11y

    Thank you, Raul! We are definitely excited to make some local connections and learn as much as we can!

  • Investor · Indianapolis, IN · Member since 2009 · 178 posts · 26 votes
    11y

    Welcome to BP..

    Make the education do what it do...

    Put the knowledge it to action..Implement with 

    God speed..

  • Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes
    11y

    Thanks, Armond!

  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    11y

    @Jen Reeves

    Welcome to Bigger Pockets. BP is a treasure chest full of resources. You will find resources here from blogs to pod casts and forums. You can also send messages to members which is my favorite part of the website.

  • Residential Real Estate Agent · Cleveland, OH · Member since 2008 · 579 posts · 225 votes
    11y

    I see this post is 11 days old, but I couldn't help but noticed you're in Tallmadge!  You're in my neck of the woods!

    Rock on!

    -David Hunter

  • Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes
    11y
  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    11y

    Welcome to BP community @Jen R. It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Wishing you the best! 

  • Residential Real Estate Agent · Cleveland, OH · Member since 2008 · 579 posts · 225 votes
    11y

    Rarely out that way.  Over 6.5 years selling real estate, sold one house in Stow and a few in Hudson.  Also, one client was looking in the akron area (by Stan Hywet Hall), but ended up in Hudson.

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    @Jen R.

    Welcome to the site.

    Should be some good opportunites down there in Akron.

  • Investor · Grosse Pointe Park, MI · Member since 2015 · 164 posts · 64 votes
    11y
    Originally posted by @Jen R.:

     I live in Detroit now, but I am from Akron. I took a similar road... I like to think of my first house as the education that I had to pay for. Honestly I am still paying for it. But that's OK, because with the things I have learned, I can afford to.

    Which areas of Akron are you investing in? City or Burbs? 

  • Investor · Grosse Pointe Park, MI · Member since 2015 · 164 posts · 64 votes
    11y
    Originally posted by @David Hunter:

    Rarely out that way.  Over 6.5 years selling real estate, sold one house in Stow and a few in Hudson.  Also, one client was looking in the akron area (by Stan Hywet Hall), but ended up in Hudson.

     My dream in life was to own one of the houses by Stan Hywet Hall. But Alas, my career took me to the Dirty D. I have dreams of one day making it back to Akron to live, but for now I will just have to suffer.

  • Residential Real Estate Agent · Cleveland, OH · Member since 2008 · 579 posts · 225 votes
    11y

    The only thing holding you back is you!  So, come on back!  :-)

  • Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes
    11y

    Detroit seems like a challenging environment to be working in (understatement of the year?)! We are looking in the suburbs currently. It seems there are lots of deals to be had in Akron with good profit potential; I also love the area about by Stan Hywet! But, since we're just getting our feet wet, we'd like to start out in the areas we know, with hopefully a bit less risk....so, we're looking at distressed properties in Cuyahoga Falls/Stow/Tallmadge. Hoping to add value by rehabbing then renting (but with the option to sell as flips if we find we can't make the rental returns we're anticipating). At least that's our current plan...maybe we'll get brave and move into Akron once we figure out what we're doing! 

  • Investor · Grosse Pointe Park, MI · Member since 2015 · 164 posts · 64 votes
    11y
    Originally posted by @Jen R.:

    Detroit seems like a challenging environment to be working in (understatement of the year?)! We are looking in the suburbs currently. It seems there are lots of deals to be had in Akron with good profit potential; I also love the area about by Stan Hywet! But, since we're just getting our feet wet, we'd like to start out in the areas we know, with hopefully a bit less risk....so, we're looking at distressed properties in Cuyahoga Falls/Stow/Tallmadge. Hoping to add value by rehabbing then renting (but with the option to sell as flips if we find we can't make the rental returns we're anticipating). At least that's our current plan...maybe we'll get brave and move into Akron once we figure out what we're doing! 

     Honestly, Detroit isn't that bad. The metro area is on fire.

    I miss Akron though. I think it is totally underrated. I have a couple of rentals in the city of Akron. One on Cadillac hill if you know where that is. Another in the highland square area. I agree with what you are saying though. Tallmadge, Cuyahoga Falls and Stow would be good places to look.

    Best of luck!

  • Investor · Grosse Pointe Park, MI · Member since 2015 · 164 posts · 64 votes
    11y
    Originally posted by @David Hunter:

    The only thing holding you back is you!  So, come on back!  :-)

     That and my job. Detroit isn't a bad place. In fact it reminds me a lot of Akron/Cleveland. And I honestly like the rental market here better. Similar costs and much higher rents. I try to make it back to once every month or so.

  • Investor · Fairlawn, OH · Member since 2011 · 61 posts · 13 votes
    11y

    Welcome.  there are quite a few here from the NEO region.  I am a rehabber focusing on the communities surrounding Akron, staying out of APS.  I am currently working on a project in the Falls and have flipped two there this year.  Things are moving quickly in the area right now.  If you see a deal you need to move.  Good luck.  

  • Akron, OH · Member since 2015 · 178 posts · 189 votes
    11y

    Welcome. I agree that as long as you learn from the mistakes of that first situation, you can count it as tuition for "The Game."

  • Rental Property Investor · Richmond, VA · Member since 2015 · 128 posts · 25 votes
    11y

    Welcome to BP. The hardest thing to do is get back up when you've fallen, especially in a confusing market like our current one. Best of luck.

  • Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes
    11y
    Originally posted by @Martin Peter:

    Welcome.  there are quite a few here from the NEO region.  I am a rehabber focusing on the communities surrounding Akron, staying out of APS.  I am currently working on a project in the Falls and have flipped two there this year.  Things are moving quickly in the area right now.  If you see a deal you need to move.  Good luck.  

     Thanks, Martin. We actually went through 3 houses last week that went into contract the same day that we viewed them, so I appreciate that advice! 

  • Rental Property Investor · Stow, OH · Member since 2015 · 14 posts · 4 votes
    11y

    Stow /Cuyahoga falls invested here too! : )) I'm not brave or seasoned enough to go into Akron as well. Actually putting an offer on a place today in c falls! My pops just picked up an eight unit in tallmadge too. I love being on bigger pockets and all the wealth of knowledge that's on here! 

    -To everyone's continued success!

  • Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
    11y

    A little late to the welcoming committee here, but glad to have you join the bigger pockets community. 

    Lot of helpful greater Akron area investors on bigger pockets willing to share their insights and experience. 

    Wish you the best in your adventures. 

  • Investor · Tallmadge, OH · Member since 2015 · 258 posts · 275 votes
    11y

    @Sean Gregg - good luck with the house in Cuyahoga Falls! 

    @Dell Schlabach - thanks for the welcome; I have actually come across your name quite a few times while searching through the forums and appreciate your willingness to share your expertise.

    Also, is anyone here a member of the Akron REIA? I was thinking about attending the meeting next month as a visitor, but didn't find the website very helpful to discern what actually goes on at the monthly meetings. So, is it worth attending and/or becoming a member? Unfortunately Wednesday nights are probably the worst weeknights for me, but I'll figure out how to make it work if I need to! Would appreciate any input!

  • Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
    11y

    I was a member of ACREIA, although rarely attend meetings, I switched membership to Canton REIA this year.

    If you join one group you can attend any other REIA affiliate groups for free.

    The next meeting is ACREIA annual roundtable meeting, the one meeting a year I typically attend.  The format; typically there are 5-7 tables each covering a specific topic, each table has a moderator discussions are 20? minutes then you pick a different table/subject that interests you. 

    Its a good way to get nuggets of information and find people with interests similar to yours to network with. 

    We are going  to be at the next meeting, if you decide to come, let me know and I'll keep and eye out for you. If you want to meet at start of the event, you are most welcome to hang with us,  rehab roundtable will be our first one, assuming they have one this year.

  • Investor · Canton-Akron, OH · Member since 2012 · 917 posts · 477 votes
    11y
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