I am in the Cleveland Ohio area. I am interested in starting with an investment property, but am seeking a professional in this area to personally review, analyze, discuss and advise me prior to my purchasing an investment. Any professionals from this area available?
I see you're new here and it might be beneficial for you to search the threads for how to find a mentor.
The biggest question you have to answer is "What's in it for the mentor?" You'll have much better luck finding people to help you if you first offer to help them. And everyone has something to offer...even if you're new to the game. Get creative!
Best of luck! Go Browns!
@Jewel Starling what are you purchasing? From whom?
What are you offering on exchange for help?
Hi @Jewel Starling and welcome to the site.
Feel free to post some more details about the potential property and I'm sure you will get plenty of useful feedback and helpful tips from many BP users. Those familiar with the Cleveland area can help with specific neighborhood/location questions but other members can help analyze the numbers and let you know what they think too
@Jewel Starling Can you clarify what type of assistance you are seeking...there is a deal analysis category on the BP forums as well...if you have some numbers, that's the place to post...more bang for your buck. To be frank, your odds of getting quick advice are better on the forum than seeking personal advice from a local pro...best of luck either way, though.
@Jewel Starling you could kill two birds with one stone by working with a real estate agent that has experience catering to investors, or is an investor themselves. I personally cannot help you with this as I am just learning about investing myself as an agent, but I do have a few names if you want to message me. They are experts in the Cleveland area! Also this site is a huge asset to you.
Thank you for your replies. The big question most asked was what am I offering in return. What would such a person want in return for mentoring in investments? I can barter services if someone would wish. What exactly is it you would want to barter for this assistance? Otherwise I am looking to hire a professional property investment advisor, a person with a successful history of investments in my area, or perhaps a realtor who is an experienced investment specialist to guide me. I have read the boards and information but prefer not to move ahead without the more detailed advice/guidance of a professional in getting started. Anyone that has the background and knowledge I need or who can refer me to such a person, I would be happy to hear from. I don't personally know of any professionals to go to and your recommendations would be greatly appreciated.
Save your money on hiring a self-proclaimed RE Pro. There are enough Real Estate Junkies on this forum to give you multiple views/analysis on virtually any deal you might come across (just remember to avoid giving out the exact address). There are people who will also share with you their personal investment criteria and their thought process behind it if you just ask. Then use that info to help shape your own.
Since stumbling on a great RE deal rarely happens, the best thing you can do at this moment is to learn how to create deal flow. Getting properties which match your own personal criteria to land into your marketing funnels is critical to success. There are plenty of free videos on YouTube of people teaching how to do this.
The key thing to remember is that no one, not even a RE Pro, is going to just hand you a killer deal on a silver platter. You've got to create the marketing engine that drives them towards you. Deal analysis is the easiest part of this business...Deal flow will make or break you.
Best of Luck,
Seeking a mentor/consultant to start with can be a very good idea. It is how I started. I must admit that I did the vast majority of the work and did not utilize the consultant very much on my first project, but it was a confidence-builder knowing I had that "safety net" in the event I started to feel lost or overwhelmed.
I haven't seen you mention what kind of REI you're looking to get into. If it is flipping, you could consider offering a percentage of the net profit. That way, the value of the consultant's time is tied to making sure you are successful.
I am a real estate agent in he Cleveland area, and I primarily work with investors. I have had experience with lots of deals in the 1-4 unit range, mainly buy an hold. I am always happy to help in any way I can. I am also looking to start buying some deals on my own, at this point I have primarily helped others, but I have learned a lot in the process!
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