Marine Pilot Jumping into the Real Estate World
Hi everyone,
I am very excited to start networking and making friends here on BP. I've listened to the podcast a lot and figured I was ready to register and write my introduction.
I'm about to move to San Diego, CA with my wife to fly helicopters for the USMC and am getting pretty serious about real estate investing. I already have my LLC set up, business bank account, CPA firm hired, etc etc.
My first deal, that I already signed a purchase agreement on and should be closing on within a week or two, is going to yield me good cash on cash ROI of 23%. They are both duplex's in Indianapolis.
Now, another deal just emerged on the horizon, and I was wondering if anyone had any thoughts on it since I am not familiar with the Cleveland / Garfield Heights area. I know a loan broker who offered me a list of 32 homes in the Cleveland area. I went through all the numbers on the homes and came up with an average 38% ROI for 15 of them. They are all rented and are all in the 40-45K price range. Needless to say, I'm very excited about the opportunity and am already in the process of making it happen. If anyone has any thoughts on the area or any tips on things to look out for in Ohio specifically, it would be much appreciated!
Thank you so much, and I can't wait to get to know the community better!
Markian