All Forum Posts by: Min Zhang

Welcome back Bil! Personally, I invest in properties in C-Class neighborhoods in my market (East Linden and Southern Hilltop), and they’ve been cash-flowing well so far. Do you already own any properties, or are you just getting started and looking to purchase your first one? If you ever want to chat or brainstorm strategies, feel free to connect!

Hey Simon! I’d suggest reaching out to some local agents in the area. They may have some off-market opportunities that could work well for you. Also, connecting with fellow Cleveland investors could get you some great deals, especially if anyone has 10-15 unit properties they’re looking to offload. I’m really excited to see you back at it, best of luck!

@Brant Laird When I first started, one of the best things I did was connect with fellow investors. It helped me get a clear picture of what was working for them and what wasn’t. I was able to learn from their successes and mistakes, which saved me a lot of time and effort. Talking to others also gave me insight into different markets and strategies, which made it easier to figure out where I wanted to focus my efforts.

A simple tip I’d give is to start small and grow gradually. It’s easy to want to jump into big deals right away, but starting with one or two smaller properties lets you learn the basics of real estate investing without getting overwhelmed. From my experience, taking it step-by-step has helped me avoid mistakes and build a solid foundation for the long term. Best of luck and if you ever want to brainstorm options, happy to chat!

Welcome to BP, Josh! If you're focused on cash flow and the numbers aren't adding up locally, I suggest researching other markets. Cleveland market is worth considering. I have investor clients who've purchased duplexes in C-Class neighborhoods for around $150-$200k, with COC ranging from 10% to 18%. If you're interested, I can send you a list of trusted contacts here to help you build your team, including property managers. Good luck and I'm excited for you

Welcome to BP Hiram! When I was starting, I focused on building my network, attending networking events, and was fortunate to find a mentor. I partnered with him and purchased my first property here in Columbus, OH. I recommend you to do the same. Connecting with experienced investors is a great move as it allows you to learn from others' experiences and opens doors to partnerships, resources, and insights you might not have considered. Keep asking questions and learning as much as you can. Best of luck, and I’m sure you’ll be hitting your goals in no time!

Hey Ben! If you are looking for a mix of appreciation and cash flow, I recommend looking on 0hio market. In Columbus, appreciation is between 7-17%, and cash flow is at 8-12%. I bought my first rental in here and it has been cash flowing well so far! If you ever want to chat or brainstorm strategies, feel free to connect!

Hi Juliann, before moving forward, it’s important to determine the level of renovation you're comfortable with. Are you only willing to take on light or medium renovations, or are you open to more extensive work? I recommend having a contractor walk through the property before submitting your offer, or you could make your offer contingent on a contractor walkthrough. This way, you’ll get a clearer picture of what needs to be done, the estimated costs, and whether the numbers align with your investment goals. By doing this, you’ll avoid any surprises down the road and ensure the deal still makes sense for you financially.

Hey Lucas, congrats on getting into Akron market! I do have a client with almost similar situation. He buys properties in Cleveland and found a potential deal in Akron. He's glad that his PM covers certain areas of Akron (near University). You might want to check if your PM also covers areas in Cleveland since you're already comfortable using them. If you're looking for a Cleveland duplex in a C Class neighborhood with $120ks as your purchase price, you are looking at properties with deferred maintenance. Best of luck and feel free to reach out if you have any questions!

Investment Info:

Single-family residence fix & flip investment in Columbus.

Purchase price: $62,000
Cash invested: $60,000

Project in progress: Off market deal
Purchase: $62,000
Rehab: $60,000
ARV: $165,000

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

It's the only that I can affordable

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

Through a wholesaler

How did you finance this deal?

hard money

How did you add value to the deal?

It's almost a full gut. I expanded the kitchen and updated the bathroom

What was the outcome?

I end up spending 20k more than I expected. Initially the numbers were 40k for rehab cost

Lessons learned? Challenges?

Pipe leaked after closing. Didn't do an inspection on the sewer. That cost us 3k to fix

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

I bought it with my mentor and partner who has experience in renovation and hard money financing

Welcome to BP, Prashanth! One key thing that helped me get started was defining my real estate goals and strategy. Are you focused on appreciation or cash flow? Turnkey or value-add properties? It's important to make sure the market aligns with your approach. From there, start networking with local investors and agents to learn more about the market, and be sure to do your own research as well. Good luck!