Seeking Advice on Ohio Market for Long-Distance Investing!

[Rhaheem Blanden]

I am writing to seek some guidance as I embark on my journey into out-of-state investing. I am new to this exciting world and have been strongly considering the Ohio market, specifically focusing on multi-family properties in Cleveland, Akron, Cincinnati, and Dayton.

To ensure a successful venture into long-distance investing, I understand the importance of establishing a reliable and trustworthy team on the ground. Therefore, I am keen to create a solid core strategy that involves a realtor, contractor, property manager, and lender who can assist me in navigating the Ohio market effectively.

If any of you have had experience investing in these areas or have suggestions regarding professionals or companies that fit my criteria, I would greatly appreciate your insights. Recommendations for investor/realtors who specialize in multi-family properties, reliable contractors with experience in renovations, property managers who can efficiently handle day-to-day operations, and lenders who provide favorable terms for investors would be immensely helpful.

I believe in being well-prepared, and I am fortunate to have excellent credit and cash reserves to seize the right cash-generating opportunities. However, I recognize that knowledge and experience are equally vital in this endeavor, which is why I am reaching out to this wonderful community for advice and guidance.

If any of you have gone through similar experiences or have insights into the Ohio market or long-distance investing in general, I would be grateful to hear your stories and learn from your successes and challenges. Additionally, any tips or best practices you can share to help me build a robust long-distance investing strategy would be invaluable.

I am eager to take this exciting step and build a successful portfolio of multi-family properties in Ohio. With your support and collective wisdom, I believe I can overcome any obstacles and achieve my investment goals. Thank you in advance for your time, assistance, and valuable contributions.

Wishing you all continued success in your own investing endeavors!

Warm regards,

Rhaheem Blanden, MPA

[Noah Bacon]

Hey Rhaheem! Welcome to BiggerPockets and thanks for joining!

Here are some tips for networking and making the most of your account.

1) I'd fill out your profile fully before you do anything else! As that will at least help folks that you reach out to know that you are a real person, with a picture and professional bio. Particularly be sure to include your goals for real estate investing so that folks can help you.

2) Go to the Search bar, and look for some local members in your area! Reach out to a few of the folks, perhaps those with hundreds or thousands of posts in this forum, and connect. You can do that here.

3) Check out some of the local meetups that you can find in this forum! There are so many so be sure to filter by your location.

4) Review this comprehensive 64 page deck on the state of the 2023 housing market (in your resource page as a member of BiggerPockets!) for real estate investors put together by Dave Meyer and available for all BiggerPockets members.

5) Consider meeting with a few agents in your area even if you are just getting started! An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do.

6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).

7) Lastly, I'd check out David Greene's Book Long-Distance Real Estate Investing for additional insights and tips on Long-Distance Investing.

Hope this helps! Please reach out with any questions you may have!