Investor · Cleveland, OH · Member since 2013 · 38 posts · 10 votes
Hi everyone,
It's been a while since I've posted on here, but due to COVID, I've had to rethink my life/investment strategy. I have now transitioned to a full time real estate agent sooner than I had planned, and I'm curious to see what you all think about the best investment class and area for cash flow? (I'm in the Cleveland area) I also think it may be best to sit on the sidelines for a bit with cash in hand ready for better opportunities.
I already own one double in Lakewood that has put me in a much better financial situation that I would have otherwise been in. Each unit is a 2 bed/1 bath and I get $970 month from my upstairs tenants on a 2 year lease.
Any thoughts from more seasoned investors out there, or recommendations as to better areas for cap rates etc? If some of you think there are better avenues for investing I'm open to hear about them. Very broad post I know, but I'm hoping for a good discussion.
Why would anyone whom can get access to a low loan stay on the side line? I understand you might not be able to as you just became a full time agent BUT IF I can find something that hits my criteria I'll but it especially with these low rates out there. Better opportunities aren't going to come around, COVID will be over in a year, everything will be 75% to normal and property prices will keep on going up. Rates will probably start to increase mid next year so best opportunities are now.
Thanks for the reply Federico. I've seen a few real estate gurus talk about a possible market correction when the rent moratoriums are eventually lifted. I realize no one has a crystal ball, but I was curious to see if anyone was going to comment on that.
Based on some of the numbers I've seen put out there, the number of people behind on loans rivals or exceeds that of the number of people who defaulted in the 08 crash. Their prediction is that we may be in for a large market correction, and a possible wave of foreclosures hitting the market. So IF that happens, the obvious question is when.