All Forum Posts by: Samuel Diouf

Hey Samuel, Cleveland, OH is a strong market to invest in! I started investing here after moving to Ohio from Florida for of the growing market. I spend all day sourcing deals now.

Hey Burhan, when looking at value-add deals, you'll want to work with an investor friendly agent and GC.

The agent should be able to give you ball park numbers on your renovation costs and you should always have your GC walk the deal before going into contract unless the sellers are only taking curb offers, then just have a GC walkthrough contingency in place. 

Hey Michael, for your first deal you don't NEED a LLC to purchase. You'll actually get better loan terms if you purchase in your personal name and go conventional.

However, if you do plan on using a LLC, you should consult with an attorney on how you should set it up. I know most of my clients in Ohio who are investing from out of the state are forming their LLC's in Ohio.

Hey Sam, if you're looking at out-of-state options, I would first decide on whether you want appreciation, cashflow, or a mix of both. If you want cashflow.. look for markets with low entry prices and higher rent averages. If you want appreciation, identify markets with expanding industries and positive growth signals.

Welcome to Bigger Pockets Junior!

Bigger Pockets is a great place to learn and connect with fellow investors.

If you’re looking to invest long distance, I definitely recommend building your core-4 team. This team consists of an Investor Focused Agent, Lender, Contractor, and PM.

Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.

https://www.biggerpockets.com/blog/core-four-real-estate-team

A lot of investors based in expensive markets where the numbers don't work are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

Hey Sam, Columbus, OH is a strong market to invest in! I started investing here after moving to Ohio from Florida for of the growing market. I spend all day sourcing deals now.

I'd be happy to send you a graded map of the area and a share list of useful contacts.

Hey Kevin, I can send you some of my go-to PMs in the Columbus area.

Hey Mohamed, I'd be careful buying anything in the $20k range in Cleveland. Most of the deals in that range are going to be shacks or just in really rough neighborhoods. 

There are some great deals in the Cleveland market, but it's important to go in prepared with a good team as your foundation. 

Hey Silvio, to answer question 4. A big mistake I see a lot of investors make in Cleveland is falling for the high COC returns in D and F areas without considering the other risks involved in those areas.

It's important to have a good understanding of the different neighborhoods in Cleveland. I'd love to share a graded neighborhood map with you guys.