All Forum Posts by: Adam N.

Thank you for everyones input so far, I never considered all of the downsides to student housing - however I still think that, if I have the location right, and the right tenants, I can make good money off students.

@ Mike...yes I've begun looking at bargains in the western suburbs of Cleveland, and I'm quite surprised at the bargains in Rocky River, Lakewood, Avon Lake. Smaller, older homes, but priced low enough to ensure reasonable NOI.

@Scott, good advice, starting local and then prove myself first. I think this is something I should do before buying out of state.

@Skylar, thank you for the formula's, very helpful.

@ Valerie: Thanks for forwarding me to the out of state investor group. Columbus is actually something I've been considering for some time.

@Scott: As I said before, the vacancy rates here in greater Cleveland are astonishing. Larger college towns (Boston, DC) offer great marketability to college students, which offers great potential - Consider this: College students (I know from experience) are not concerned about price, as long as the money is there to pay for it, ie. scholarship money, parents money, student loans. Valerie made a great point - renting to college students gives me to opportunity to rent individual rooms, and collecting many months of rent up front. I really like the idea of college towns, since I'm young and feel I can market to that demographic better than any other.

Go easy on me, I'm new to all of this! I'm not 100% novice, I'm already a homeowner, living in Cleveland, Ohio. I would like to use savings and some home equity to purchase an investment property, perhaps a two-family home. I'm young (23) and have a good, stable job. I'm putting down a personal business plan on paper to help me lay out my long term goal, which is to own enough rental properties generating enough cash flow to live off of. The problem I see happening is my location. It seems like there are so many vacancies in my area, how can I be sure that I will even be able to rent the units out at all? Cleveland lost 10% of its population since the last census. I just don't feel confident in the rental market here, which is a shame because there are so many bargains on the market.

I would rather invest in bigger cities, especially known college towns like Boston, DC, Philadelphia.

Does anyone have any experience, or advice, on starting out as a long distance landlord? Or does anyone have a good reason for me to invest here in NE Ohio?

Let me know if you would like more information. Thanks!