Being an out of state investor, its always helpful to have solid contacts in the area that you're focusing on.
I've been listening to the podcasts, and reading blogs and forums, and I completely understand now that Driving for Dollars around neighbourhoods is a great way to find those motivated sellers.
Have any of you Cleveland investors been fortunate enough to find a deal this way? What did you look for and how did you contact the owner of the house?
I'm planning on driving down to Cleveland in the next few months (coming down from Toronto, Canada) and would love to have some specific areas to check out at that time, and maybe meet some of you cool people!
I do this every week in my area of town. I have found some nice gems by learning a specific area and staying on top of what goes on around town.
I use my morning run as a means to keep an eye on properties in our desired areas of town. It's proven effective over time.
Morning runs around the wrong parts of Cleveland, and you could get shot at, lol.
I think I've mentioned this before to you Vuk, but focus on Parma, Garfield Heights, Bedford, Maple/Cleveland/Shaker/University Heights, most west sides of Cleveland, etc.
@James Wise created a neighborhood grading scale for the west side that can be found here:
Hey guys, thanks for the feedback. Sounds like I'll have to plan a trip down to Cleveland soon. I just realized its only a 4 hr drive from Toronto, which makes it a lot more feasible to do than I originally thought.
@Matt Motil what frequency are you re-visiting the properties you're interested in? 1/week, 1/month?
@Roy N. I'm not fortunate enough to be able to run around these ares, so I'll have to do it virtually for now.
I definitely don't plan on getting shot though. But that would be one exciting blog to post on here! lol
Consider using "bird dogs" and pay them for leads if you're from out-of-state. You can find people using a simple Craigslist ad.