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All Forum Posts by: Marge M.

Marge M. has started 0 posts and replied 21 times.

Post: Where would you move to start building your real estate empire?

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Quote from @Nadine O.:

Hi BP Family! Where would you recommend living in USA to start house hacking and building a rental property business? The intent is to relocate from a high cost of living area like the Bay Area in California (although we love it here) to another, lower cost of living city where we can start by purchasing a multi-family to house hack (we are newbies, but have read a lot) and eventually build a portfolio of rental properties to retire off of. Would love to hear your thoughts - thank you!


 Youngstown, OH

Post: Youngstown / Boardman, OH

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Quote from @Cara Murray:
Quote from @Charles Nicholas:

Boardman, Poland, and Canfield are all good places for traditional SFH or multi-family rentals. There are a lot of potential BRRR homes in nearby Struthers, Campbell, Mineral Ridge, etc.

Be aware that Boardman has implemented a landlord registration program, with yearly fees about $40/door for SFH and less for multi properties. The local zoning department is fairly rigid and will enforce their rules strictly.


 Thank you for the information. I have been looking in the area the last few months and am curious if you have any recommendation for property management in the area? 


 Geisler Realty - http://www.geislerrealty.com/p...

Post: BPCON2021 Attendees - Let's connect!

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Lucia Rushton:

WoW! Gosh how I love BiggerPockets and BPCon events. 2021 was outstanding! I'm still digesting my notes and take-aways, and would love to hear what people thought and are planning to implement moving forward. 

BPCON2021 was fantastic. Learned a lot and got a huge refresher on several tried and true concepts/ideas. Loved Hal Elrod's and Brandon's keynotes. The parade at the end was so fun! Those hurricanes and grenades were so artificially delicious. ðŸ˜‚

Originally posted by @Sandra Ibrahim:

I'm all set to go! I'm super excited about my first BP CON! I'm looking to for small multi-family to invest in. If any BP member are from California and are going to BP CON, message me so can connect!

Hi Sandra!

From the Bay Area and my first time to attend BP CON too!

Marge

Post: Boardman Youngstown OH Agent

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Lamont Marable:

@Marge M. I'm looking at an apartment in the Boardman Ohio now. I'm planning to schedule a call with the broker and find out the 411. I'm looking for partners on the deals once I get RR and T12. It pencils out thus far from the flyer as a great deal.

This is a reboot for me as Mr. 19 halted my plans last year.  Hope to hear from you.

Just visited Boardman and surrounding areas a couple of weeks ago. I like the area -- definitely has a good amount great neighborhoods though there are some spots where it almost immediately dips into a shady neighborhoods. Passing on this deal though for now but curious to hear how it goes. Wish you all the best.

Post: Second investment, out of state

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Levi McDaniel:
I did not but I will be using him as our agent in the future. 
Ok.


Originally posted by @Marge M.:
Originally posted by @Levi McDaniel:
This deal was an off market deal, So we just used a lawyer

Got it. Thanks!


Originally posted by @Marge M.:
Originally posted by @Levi McDaniel:

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Boardman.

Purchase price: $100,000
Cash invested: $26,000

Second purchase, off market, friend wanted to sell. When purchased rents way under market and was under poor management. Cashflowing in under 6 months.

What made you interested in investing in this type of deal?

Value add, cashflow

How did you find this deal and how did you negotiate it?

My friend wanted out and his partnership was dissolved. Asked my wife and I if we were interested in buying from them.

How did you finance this deal?

Conventional 20% down

How did you add value to the deal?

updated units as tenants moved out.

What was the outcome?

Cashflows and appreciates every year

Lessons learned? Challenges?

It snows a lot in Ohio

Interview A LOT of PMs before making your choice

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Steel valley PM treats us well.

Hi Levi,

My name is Marge and my partner and I are just starting our Boardman, OH REI journey. I was searching the forums for posts mentioning the area and stumbled upon yours. Thanks for sharing and great to see good feedback on Steel Valley. John was the first to respond on our initial attempt reaching out to local agents and PM's. First conversation was a treasure trove of information. Did you use him as your RE agent as well?

Smiles,

Marge

Post: Second investment, out of state

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Levi McDaniel:
This deal was an off market deal, So we just used a lawyer

Got it. Thanks!


Originally posted by @Marge M.:
Originally posted by @Levi McDaniel:

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Boardman.

Purchase price: $100,000
Cash invested: $26,000

Second purchase, off market, friend wanted to sell. When purchased rents way under market and was under poor management. Cashflowing in under 6 months.

What made you interested in investing in this type of deal?

Value add, cashflow

How did you find this deal and how did you negotiate it?

My friend wanted out and his partnership was dissolved. Asked my wife and I if we were interested in buying from them.

How did you finance this deal?

Conventional 20% down

How did you add value to the deal?

updated units as tenants moved out.

What was the outcome?

Cashflows and appreciates every year

Lessons learned? Challenges?

It snows a lot in Ohio

Interview A LOT of PMs before making your choice

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Steel valley PM treats us well.

Hi Levi,

My name is Marge and my partner and I are just starting our Boardman, OH REI journey. I was searching the forums for posts mentioning the area and stumbled upon yours. Thanks for sharing and great to see good feedback on Steel Valley. John was the first to respond on our initial attempt reaching out to local agents and PM's. First conversation was a treasure trove of information. Did you use him as your RE agent as well?

Smiles,

Marge

Post: Akron/Canton Landlords: What areas would you NOT rent in

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Stan Wu:

Yes. It's been fair.  I like the area very much but true performance is what needs to be measured and it's fair for the state of economy.  Do you have investments now, have you checked Sacremento, Fresno, Bakersfield?  Whatcha looking at?

Prices are crazy in and around the bay area. Looking at Boarman, OH and surrounding areas like Austintown and Warren. Maybe even Canton or Akron.

Post: Looking for Live in Fix and Flip property

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Nathan Bibb:

Brian, shoot me a message. We run a fix/flip/wholesale operation out of Poland. I sent you a connection request

Hi Nathan,

My name is Marge and my partner and I are just starting our Boardman, OH REI journey. I was searching the forums for posts mentioning the area and stumbled upon yours. That was from 11 months ago. Visited your website and learned that most of the properties you sell are sold 'AS IS.' Would you have referrals as to the other pieces of the puzzle (agent, PM, contractor) if we take this route since we plan on doing this long distance.

Thank you.

Smiles,

Marge

Post: Agents in Youngtown, OH zip code 44507 and 44502

Marge M.Posted
  • Investor
  • Hayward, CA
  • Posts 21
  • Votes 7
Originally posted by @Joe Cantanzriti:

@Christopher Nerio  I can't personally speak to Cleveland as I really don't have any experience there though I do know there are many areas around Cleveland that have been booming. Maybe @James Wise might be a place to start there, he seems to be knowledgeable in the Cleveland area as well as many other on here I'm sure. 

It's not that Youngstown is a "bad" place to invest, it just depends what your looking for.... I'll keep buying property in the Youngstown suburbs but that's partially because I have the bias of it being my hometown and also the knowledge of street to street changes in the areas I invest. I have all of my property in the 44512 & 44471 zip codes which are Boardman & Struthers school districts. These areas are certainly not appreciating any time soon if ever but they are areas I'm very comfortable with and provide a very solid cash flow for the costs of the property. Also there is a very strong rental market here with a good balance of homeowners that keep the values at least stable. 

Columbus is a very strong market, though mostly between downtown & the university from what I understand... which has seen a huge influx of money in the last 5 or so years. Might be worth looking around that area. 

Hi Joe,

My name is Marge and my partner and I are just starting our Boardman, OH REI journey. I was searching the forums for posts mentioning the area and stumbled upon yours. That was from 4 years ago. Curious if you're still in the area and if you have any RE agent and PM referrals you're willing to share.

Thanks!

Smiles,

Marge