New to REI, looking in Cleveland, OH.

11 Replies

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.

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!

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. 

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.

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. 

Originally posted by @Tom Ott : Sometimes areas around Cleveland might look good on paper, but might not be so good in person.


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

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.