All Forum Posts by: Catherine Ding
Catherine Ding has started 9 posts and replied 42 times.
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Nicholas L.:
unfortunately "turnkey" and "good cash flow" don't get together. if you buy a property at market price in a good neighborhood - you will break even or lose money.
and in general, if you're serious about this, i'd recommend going to your chosen market in person, probably multiple times, to set up your team. if you just pick something online and buy it - you will lose money. like this guy:
https://www.biggerpockets.com/forums/48/topics/1193623-rent-...
you should also read this thread:
https://www.biggerpockets.com/forums/48/topics/1159104-overl...
i hope this helps. i would not give up on closer markets. the midwest is not a panacea.
Thank you for the feedback! I will definitely check those threads out.
I live in SoCal -- I would prefer an even closer market but not really sure which other market would make sense? 2 years ago I was looking at Arizona but that market has cooled, it seems
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Jonathan Greene:
Quote from @Catherine Ding:
Quote from @Jonathan Greene:
How did you choose Cleveland/Columbus? Because of the favorable landlord laws? They are both good options, although I would say that Columbus is a bit overrun with investors, even though you can still grow there.
I originally chose Cleveland because we have some family there who might be able to help us so we're not totally blind to the market. However, after further research it seemed like many people were recommending Columbus over Cleveland due to the higher appreciation/job+population growth, so that's why I am doing research on both. I would like to prioritize cashflow but I also want to avoid buying something JUST for the cashflow with no appreciation potential at all.
I like both markets, but having boots on the ground that you already know and trust who can be eyes on the prize once you have it is also invaluable. Keep that in mind.
Yes, I totally agree, thank you for the feedback!
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Remington Lyman:
Quote from @Jonathan Greene:
Quote from @Remington Lyman:
Quote from @Jonathan Greene:
How did you choose Cleveland/Columbus? Because of the favorable landlord laws? They are both good options, although I would say that Columbus is a bit overrun with investors, even though you can still grow there.
More people rent in Cleveland than Columbus - https://www.cleveland.com/data/2022/12/ranking-ohio-cities-b...
I work in both markets and each one seems to have a fair amount of investors
Personally, I think both markets are good. I just think Columbus has been buzzy for a long time so a lot of new investors choose it for the wrong reasons.
Like, you can still make money in Austin, but you missed the big money and now it's much harder. Columbus I think still has a ton of scale, but you have to work with pros like you guys to understand where the new best deals are.
I agree with you. I wish I could have started buying in 2012 but unfortunately I was a broke college kid and did not know about real estate investing.
Personally I still think Columbus is going to continue to explode - "Columbus’ population grew 1.1% in the second half of last year, which is faster than any other city in the U.S." Study names Columbus as the fastest growing city in the U.S.
I'm kicking myself for not taking the plunge two years ago, back then I thought 4.5% was high! LOL
Jokes aside, it sounds like it's incredibly difficult to find something with good cash flow in Columbus, so my thought right now is to start in Cleveland for cashflow, then once I build a stronger porfolio I'll start adding Columbus
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Samuel Diouf:
Columbus is a great market to invest in!
I'd be happy to send you a comprehensive list of contacts that can help you with building out your team here.
Thank you so much, I would very much appreciate that!
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Remington Lyman:
Quote from @Jonathan Greene:
How did you choose Cleveland/Columbus? Because of the favorable landlord laws? They are both good options, although I would say that Columbus is a bit overrun with investors, even though you can still grow there.
More people rent in Cleveland than Columbus - https://www.cleveland.com/data/2022/12/ranking-ohio-cities-b...
I work in both markets and each one seems to have a fair amount of investors
Thanks for the feedback! Yes it does seem like there are a lot of OOS investors in both places. The market is so competitive
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Jonathan Greene:
How did you choose Cleveland/Columbus? Because of the favorable landlord laws? They are both good options, although I would say that Columbus is a bit overrun with investors, even though you can still grow there.
I originally chose Cleveland because we have some family there who might be able to help us so we're not totally blind to the market. However, after further research it seemed like many people were recommending Columbus over Cleveland due to the higher appreciation/job+population growth, so that's why I am doing research on both. I would like to prioritize cashflow but I also want to avoid buying something JUST for the cashflow with no appreciation potential at all.
Post: Finally starting my REI journey -- interested in exploring Cleveland/Columbus
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Hi everyone,
I'm Catherine from Los Angeles just starting my real estate investing journey! I've always wanted to do this and joined the forum briefly ~2 years ago but never pulled the trigger (really wish I had back then!). This time around, I am serious about finding my first property and finally jumping in asap. Since I'm a complete novice, I'm looking for SFH or small MF, preferably turn key with good cash flow to get my feet wet (also open to light renovations). I'm excited to explore opportunities in Cleveland and Columbus. Looking forward to connecting and building a trustworthy team of broker, lenders, property managers and contractors!
Post: Long Distance Investing from SoCal
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
I am also based in SoCal exploring long distance investing and would love to connect. Anyone have any experience in the Cleveland or Chicago market?
I've also been considering Section 8 housing in LA but am hesitant due to CA being so tenant friendly
Post: OOS Investor looking for rehab project managers in Phoenix
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Hi! I am a beginning investor in CA actively looking to invest in rental properties in the greater Phoenix area. I'm looking for project managers with experience who might be able to guide me in rehabbing properties. Does anyone have any good referrals? Thank you so much!
Post: Property manager Houston, TX area
- New to Real Estate
- Los Angeles
- Posts 43
- Votes 41
Quote from @Ariel K.:
@Brian Pownall we use prime realty property management. They are really good, responsive, and get things done. While we were looking, we also like Shannon property management. Happy to talk offline as well.
Hi Ariel! Are you still using prime realty property management? I am also looking for a PM in the Houston area, would love to get their contact info if you still feel happy with their services!