All Forum Posts by: Tom Ott

I have one rental in Cleveland that still hasn't paid for April.  My PM has said that all no-pays for April won't be addressed until May.  I'm in 4 markets and this is my only no-pay so far during all of this Covid mess.  Is there a rent strike climate in Cleveland?  From what I've read its one of the markets that is experiencing it with more prevalence.  What has been your experience?

 Tom, 

Thanks for you feedback. That strategy makes perfect sense. How long have you been practicing in the area?

Hello everyone,

I am a newbie to real estate investing. I’ve been reading books and listening to podcasts about real estate investing the past few months. I want to get started early as an active member and begin to network with others in this community.

A little bit about myself:

I’m a graduating senior and I’ll be starting my career in software development in Chicago this summer. I’ve grown up in the greater Chicagoland area (Northwest suburbs, near O’Hare) and have lived on the north side of the city the past year. After a friend’s enthusiastic recommendation, I decided to read Rich Dad Poor Dad which made me really excited about real estate as an investment. Since then, I have been using a variety of different resources to get to know the subject better which brought me to the BP community.

I plan on saving a significant portion of my income to use for my first deal in Summer 2021. I’m interested in multifamily residences, specifically a House Hack to get started and take advantage of the low down payment. Until then, I plan to learn as much as I can about real estate investing and get to know the markets that I’m specifically interested in. My ultimate goal is to achieve financial freedom with a diversified portfolio of properties in different areas.

Feel free to reach out and connect with me! I look forward to it.

- Andrew

Newbie post.

Got $50k and trying to see what to do with it.  SO and I LOVE DC and our jobs are mostly located in the Bethesda area.  We are currently renting but want to start putting that money to work.   SO is not a fan of the house hack (privacy and safety concerns) and multis are hard to come by, so either seems like buying and holding or keep renting and use our money elsewhere.  Also, we both have excellent credit and have never owned a home.  I'm guessing cash flow is out with that scenario, so how else should I think about it as an investment if all I'm really relying on is appreciation and possibly fixing it up? I know the general thought is that appreciation should just be the icing and is a nice to have but shouldn't drive the decision. 

Questions:

Should we consider other strategies?

How can we make a good long term strategy with Buy and Hold? If we fix it up a bit, how do you model that into your projections for ROI?

TAGs: DMV, Virginia, NOVA, DC, Washington, DC, 

Thanks @Tom Ott! Are you currently investing in Toledo or Cleveland? 

How is the KC market looking? What are investors thinking of this area long term? I live in OR and have looked at this market before and it looks like it has had positive cash flowing rental properties at low sales prices, and I'm curious if those who are investing there already are bullish on this market moving forward. 

I am graduating from college in a few weeks and start a full-time job in Chicago in July. As I start investing in real estate does anyone have advice for investing on the side of their full-time job? Do you mostly focus on buy and holds with simple cosmetic rehab (this is my plan)? Or do you adventure into flipping houses and just hire contractors due to your limited time? My concern with this is the significant upfront expenses and the headache that comes along with over-seeing the rehab process. It seems that that would be difficult to juggle while working full-time. What do you advise? Thanks a lot.