All Forum Posts by: Bob S.

 Have you had any luck finding someone yet? We are also looking at options for finding a "registered agent" for our Cleveland property

Looking for a hard money lender to partner with in the OH market. 

Hello everyone!

I'm currently working on my first BRRRR deal in the Cleveland area,
focusing specifically on the neighborhoods of: Maple Heights, Garfield Heights, South Euclid.

I would love to get some help :)
I'm looking for reliable BOTS as well as contractors – whether they're GCs or specialized tradespeople.

It's really important for me to work with good, trustworthy people throughout this process,
and I'd greatly appreciate any recommendations you might have.

Thanks so much in advance
I really appreciate the support and value the community here!

Cohen Hadar

 It will ,,   We are aiming for the 24th of OCT

Hi everyone, 

I'm trying to find my first investment property and have started analyzing deals out-of-state but having difficulty finding opportunities with even minimal positive cash flow. I started in Oklahoma City and surrounding areas due to having family there but I can't seem to find anything that pencils. I'm considering looking in other areas based on what I'm seeing on the internet like Ohio, Indiana, and Michigan. Would like to hear thoughts and suggestions on finding markets.

Thanks,

Cliff

 Link's broken brother. On a side note, THIS LINK of me evicting some fools, works just fine.

I am considering doing wholesale part time I only have about 3-4 hr in the evening to do it is that enough time to make it work?

and are all you wholesaler's cold calling? or out sourcing it if so who's doing it   how about google ads?  and how are you finding buyers?

anything helps thanks!

Deal of the day:  17325 Talford Ave, Cleveland, OH 44128

Looking to invest/buy in Cleveland - call or text 440-796-0460

Hello @Sandra Feurtado,

Do you need to visit the city where you're considering investing? I'm not sure what you'd learn that you can't find online. When it comes to individual properties, maybe—especially if you don't have an experienced and trusted investment team in place.

Before I continue, what is the goal of goal of real estate investing?

The goal of real estate investing is lifelong financial independence. Financial independence requires an income that enables you to maintain your standard of living throughout your life. Such an income must meet three requirements:

• Rents outpace inflation: Every time you go to the store, it takes more money to buy the same goods. Unless your rental income outpaces inflation, you won't be able to pay inflated future prices and you'll soon have to return to work. For rents to increase faster than inflation, there must be significant and sustained population growth.
• Sufficient income to replace your current income: This will require multiple properties. If you buy in a city with significant and sustained population growth, i.e., with high appreciation, you can use cash-out refinancing to buy additional properties with minimal additional capital from your savings.
• Lasts throughout your lifetime: For your tenants to continue paying similar rent, they must remain employed at comparable wages. However, most non-government jobs are temporary. The average company only lasts ten years, and even large companies listed on the S&P 500 typically survive just 18 years. This means that in the foreseeable future, every non-government job your tenants have will likely end. Your tenants will only be able to continue paying their current rent if new companies move into the area, creating replacement jobs with similar wages and skill requirements. Companies have considerable flexibility in choosing where to set up operations. Four of the major criteria they consider when selecting a location are:
  • Low crime: Companies are unlikely to establish new facilities in high-crime cities. Never invest in any city on this list.
  • Low operating costs: Every company faces competition. To succeed, they must keep their operating costs low. Many cities have high overhead costs that consume a large portion of generated revenue. Avoid investing in cities with high operating costs.
  • Pro-business environment: Companies prefer locations where they can operate smoothly without excessive government interference. It wouldn't make sense to choose a city where you'd spend significant time and money battling regulations just to conduct normal business operations. Avoid investing in cities with anti-business environments.
  • Metro population >1M: Companies require significant infrastructure. This is not available in smaller cities.

You can evaluate all these criteria from anywhere in the world using the internet. Here's a summary of what you need to know:

• Population greater than 1M and growth rate: The source for metro population size and population change: Wikipedia
• Crime.
• Operating costs: State income taxes are a good indicator of government efficiency. Here's a map comparing income tax rates by state.
• Rent control: Never invest in any city that imposes significant limits on your ability to manage your own properties. Use Google to research for this information.

Once you select an investment city, you need to find an experienced investment team. The team is crucial because all the information you acquire from seminars, podcasts, books, and websites is general. You'll be buying in a specific location, subject to local rental regulations and other unique factors. An experienced local investment team can provide you with all the in-depth local information and resources you need.

Summary

So, you can do all the research you need without visiting the city. In our case, we've delivered over 530 properties to clients worldwide. Of the 200+ clients we've worked with, fewer than 10 were local; all the rest lived in other states or countries. We've never met more than 60% of our clients in person, and few have ever come to see their properties.

In my opinion, you're better off researching potential cities online and interviewing potential investment teams via Zoom than traveling to the city.