Commercial Real Estate Investment in Cleveland, OH

[Zelda Chiu]

Hello BP community!

I am from Los Angeles, moved to Cleveland two years ago for work. Housing prices are so high in California that it makes it really hard to even start. Cleveland, on the other hand, seems to have a lot of great opportunities to offer. I'm looking to invest in commercial real estate, specializing in multi-family (5+) category. A good friend of mine started OOS investing in Kansas City, including a 16- and 24-unit MFH. It has been a huge success, and that surely got my attention. She highly recommended this platform, which I'm so glad she did! 

I would like to start my first deal locally, preferably within a two-hour drive. If you're a MFH investor, agent, broker, expert, and have any wisdom or experience to offer, I'd love to connect! Currently, I am working on getting together a team which includes a buyer's real estate broker/agent, commercial mortgage broker/lender, real estate attorney, property manager. Any ideas where I can look for these professionals? Any reputable local individuals that you'd recommend? I am still very new to the area and the market in general, any advice or guidance will be very much appreciated! 

[Greg Dickerson]

Originally posted by @Zelda Chiu:

Hello BP community!

I am from Los Angeles, moved to Cleveland two years ago for work. Housing prices are so high in California that it makes it really hard to even start. Cleveland, on the other hand, seems to have a lot of great opportunities to offer. I'm looking to invest in commercial real estate, specializing in multi-family (5+) category. A good friend of mine started OOS investing in Kansas City, including a 16- and 24-unit MFH. It has been a huge success, and that surely got my attention. She highly recommended this platform, which I'm so glad she did! 

I would like to start my first deal locally, preferably within a two-hour drive. If you're a MFH investor, agent, broker, expert, and have any wisdom or experience to offer, I'd love to connect! Currently, I am working on getting together a team which includes a buyer's real estate broker/agent, commercial mortgage broker/lender, real estate attorney, property manager. Any ideas where I can look for these professionals? Any reputable local individuals that you'd recommend? I am still very new to the area and the market in general, any advice or guidance will be very much appreciated! 

It's tough right now with Covid but you can look up REI meetups and groups in the area and start networking via Zoom or equivalent platform for virtual meetings. You need to learn the market so start studying rents and occupancies. You can study deals for sale on LoopNet and CREXI and connect with brokers there. Make sure to download, read and study the OM thoroughly so you can engage and ask intelligent informed questions when you reach out to the brokers.