New to REI, looking in Cleveland, OH.

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New to REI, looking in Cleveland, OH.

Aadil Saeed
Toronto, Ontario · Member since 2017 · 7 posts · 2 votes

Hi everyone,

I am a student from Toronto, ON, and I am looking to become a real estate investor. 

The area in which I am currently interested in starting is in Cleveland, OH in a B or even C class neigbourhood. The ratings of the neighbourhoods are based off of this article: The Ultimate Guide to Grading Cleveland Neighborhoods. I would like to initially fix and flip to generate some quicker income, and then buy and hold for passive long term gain with minimal money to put down. I'm looking mostly at SFH, but duplexes would also serve if they are within the right price range.

What I am looking for is advice from anyone who is familiar with this area or knows where I should start. 

To help me, I have mentors that have been in real estate for 10+ years both in Canada and in the United States. They advised me to come on to the Bigger Pockets Forums and I've just been trying to soak up as much information as possible. So if anyone has any leads, advice, or help that they can give me, I would be grateful. 

Thank you for your time, 

Aadil.

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Ryan Evans
Rental Property Investor · Cleveland, OH · Member since 2016 · 653 posts · 769 votes
9y

Definitely soak up as much as you can here in the forums and then I'd say start mapping out what sort of team you're going to need. Start reaching out to some agents, PM's, contractors, turnkeys, etc., then load up 5 hours worth of BP podcasts and drive down for a weekend to check out some neighborhoods and properties to get a real feel for the place. 

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  • Matt Motil
    Rental Property Investor · Cleveland, OH · Member since 2015 · 1k+ posts · 880 votes
    9y

    Welcome to BP, great resources here to help you be successful! 

    1Reply
  • Gwen Fyfe
    Rental Property Investor · Cleveland, OH · Member since 2016 · 227 posts · 287 votes
    9y

    Hi @Aadil Saeed, welcome to BP.

    There are lots of active Cleveland investors here. I would get involved and start a plan and then post some specific questions.

    1Reply
  • Aadil Saeed
    OP
    Toronto, Ontario · Member since 2017 · 7 posts · 2 votes
    9y

    Hi @Gwen Fyfe, thanks for the reply. 

    How specific do you recommend I get? Any feedback is welcome. Thanks!

    0Reply
  • Ian Kurela
    Specialist · Charlotte, NC · Member since 2016 · 239 posts · 117 votes
    9y

    I suggest your RE goals, history, areas, and strategies on how to achieve those. Welcome to BP Aadil!

    1Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    9y
    Originally posted by @Aadil Saeed:

    Hi everyone,

    I am a student from Toronto, ON, and I am looking to become a real estate investor. 

    The area in which I am currently interested in starting is in Cleveland, OH in a B or even C class neigbourhood. The ratings of the neighbourhoods are based off of this article: The Ultimate Guide to Grading Cleveland Neighborhoods. I would like to initially fix and flip to generate some quicker income, and then buy and hold for passive long term gain with minimal money to put down. I'm looking mostly at SFH, but duplexes would also serve if they are within the right price range.

    What I am looking for is advice from anyone who is familiar with this area or knows where I should start. 

    To help me, I have mentors that have been in real estate for 10+ years both in Canada and in the United States. They advised me to come on to the Bigger Pockets Forums and I've just been trying to soak up as much information as possible. So if anyone has any leads, advice, or help that they can give me, I would be grateful. 

    Thank you for your time, 

    Aadil.

    Welcome to REI! This site can really help you out. Just make sure you know where you are investing. Sometimes areas around Cleveland might look good on paper, but might not be so good in person. Also, if you go with an investment company or some other sort of professionals, make sure they know what they are doing! Do some research on them as well!

    Good luck!

    1Reply
  • Ryan Evans
    Rental Property Investor · Cleveland, OH · Member since 2016 · 653 posts · 769 votes
    9y

    Definitely soak up as much as you can here in the forums and then I'd say start mapping out what sort of team you're going to need. Start reaching out to some agents, PM's, contractors, turnkeys, etc., then load up 5 hours worth of BP podcasts and drive down for a weekend to check out some neighborhoods and properties to get a real feel for the place. 

    2Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    9y
    Originally posted by @Aadil Saeed:

    Hi everyone,

    I am a student from Toronto, ON, and I am looking to become a real estate investor. 

    The area in which I am currently interested in starting is in Cleveland, OH in a B or even C class neigbourhood. The ratings of the neighbourhoods are based off of this article: The Ultimate Guide to Grading Cleveland Neighborhoods. I would like to initially fix and flip to generate some quicker income, and then buy and hold for passive long term gain with minimal money to put down. I'm looking mostly at SFH, but duplexes would also serve if they are within the right price range.

    What I am looking for is advice from anyone who is familiar with this area or knows where I should start. 

    To help me, I have mentors that have been in real estate for 10+ years both in Canada and in the United States. They advised me to come on to the Bigger Pockets Forums and I've just been trying to soak up as much information as possible. So if anyone has any leads, advice, or help that they can give me, I would be grateful. 

    Thank you for your time, 

    Aadil.

     Welcome aboard Aadil.

    Like others have mentioned your best bet to get the biggest impact here on the site is to post very specific questions then field the feed back.

    1Reply
  • Aadil Saeed
    OP
    Toronto, Ontario · Member since 2017 · 7 posts · 2 votes
    9y

    Hey everyone, thanks for the good information. I will definitely post more questions as I learn about more strategies and fill up my so-called "toolbox".  Around which neighbourhoods do you suggest I start looking? So far I've looked around the 44111 area code. 

    0Reply
  • Christopher Blanco
    Real Estate Consultant · Cleveland, OH · Member since 2016 · 511 posts · 345 votes
    9y

    @Aadil Saeed Welcome to Cleveland. I would also consider joining the Great Lakes REIA and try and make it down to a meeting or two.

    0Reply
  • Aadil Saeed
    OP
    Toronto, Ontario · Member since 2017 · 7 posts · 2 votes
    9y


     Hi Tom, thanks for the reply. You sound like you're speaking from personal experience! Would you mind elaborating on this point? Thanks

    0Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    9y
    Originally posted by @Aadil Saeed:

    Hey everyone, thanks for the good information. I will definitely post more questions as I learn about more strategies and fill up my so-called "toolbox".  Around which neighbourhoods do you suggest I start looking? So far I've looked around the 44111 area code. 

     Decent C-Class area. What your looking at is lots of 4 bed 2 bath duplexes priced in the mid $70's. Your rents will hover around $650 per unit.

    0Reply
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