Building a real estate team

[Nash Braun]

Hi, my names Nash Braun. I’m fairly new to real estate investing as I kinda fell into this field being an electrician/ contractor in the buffalo area. I’m currently house hacking a duplex in Buffalo New York. I’m looking to begin building a real estate business investing  out of state. The Cleveland market sparked my interest and was just looking for some guidance or start points. Any advise would be appreciated as I’ve never invested out of state. Thanks! 

[Andrew Duna]

Hi Nash! Welcome to the real estate game and congrats on the house hack. My guess is that you will be looking for cash flow and that is why the Cleveland market sparked your interest. 

Some basic items to consider. Multifam will typically have a better ROI than single fam but there is a lot more competition and less inventory for multifam.

Some neighborhoods to consider in Cleveland "proper" are: Cudell, West Boulevard, Jefferson and Bellaire-Puritas areas. (all of these different areas are labeled on google maps) You can also find some pretty good cash-flowing single fam properties in Maple Heights, and Warrensville Heights. The markets to consider on either side of Cleveland are Euclid (East of 222nd) and Lorain.

With regards to starting-- I definitely recommend getting pre approved with a lender to understand what you can afford and then really sit down to understand where you want to end up after 3 years worth of investing. Based on that ideal picture you can work back to understand what and where you want to invest in.

After you get pre approved- link up with an agent who can recommend the neighborhoods that best match your goals and be your boots on the ground. I'm an investor focused agent and would love to help... Then just start taking a look at properties and making offers. For the most part it's pretty simple :)