I'm taking a field trip to Cleveland!

[Ryan Evans]

A lot of eyes are on the midwest these days so I thought I’d put an offer out there for all the BP folks around the country who have their eye on Cleveland, Ohio.

I've personally placed a major bet on Cleveland as an upcoming city for long term buy-and-holds and I have plenty of reasons why. I've got a duplex running a 44% ROI and another ~24%'er on the way. It's a duplex closing on Sep 5. I live in the Seattle/Tacoma area so I'm doing the whole out of state thing.

Anyway, I see a lot of interest in Cleveland, Akron, Toledo, Columbus, Cincinnati, etc. (sorry for keyword spam!), here in the forums, but the Midwest can be a risky place to invest. Not everyone has the capacity to fly out to every city they want to invest in, but some questions can only be answered by being on the ground.

So, if that’s you, maybe I can help! I’m flying to Cleveland from Sep 5-10th to get keys, fix the new place up, look at some properties, grow the team, and generally get the place rent ready. The ugly details are where the real learning happens so if you want to know about the deal, agents, contractors, taxes, regulations, contracts, financials, etc., while I go through the process, I’m happy to share my experience. I’ll be sure to document the process and post it on BP. I’ll also be bringing my best friend out from Alaska. He’s never set foot in Ohio or even bought a property but is looking at investing in Cleveland. Maybe you can relate?

Anyway, the BP community has helped me a ton, so here’s my chance to build up some good karma. If you want to know what it’s like to be a new out of state investor buying a property in the midwest, I invite you along for the ride :)

A year ago I was totally new to investing, but I’m slowly getting it figured out. Leave a comment or send a PM if you have any questions on what it’s like to do a deal out in the Cleve. If you like what you see and might want to talk partnerships, I’m all ears. Also, if you don’t have any local contacts out there and there is something we can do to help while we’re in town, don’t be shy!

[Michael Swan]

Thank you @Ian Kurela

Anybody can do it if I can do it.  $80,000 combined family income here!!  I worked 60 hours a week for the last 10 years to achieve this.  If you live like no one else now, you can live like no one else later.  Get a great job, make a lot more w2 earned income than my family makes, invest in assets that put tax deferred cash flow in your pocket every month.  Stop contributing more than what your company will match in the 401K, get rid of those car payments, student loans, toys bought on time etc... Hoard  a lot of cash in a money market fund and build your financial freedom account up to capitalize on opportunities to buy more assets that put tax deferred cash flow in your pocket every month and you will be way above my $160,000 primarily tax deferred cash flow per year.  If you  don't make enough W2 earned income than get a part time job and hyper save for more assets.

YOU CAN DO IT!!!

Swanny