A bit stuck, looking for a partner

[Jeff Koval]

Hi everyone,

I got into REI just over a year ago. Since then, I bought a duplex in Akron in October ‘21 that is doing well and an STR cabin in Broken Bow in March ‘22 that is starting to come into its own now. We own our own home and live in Southern CA so out of state investing makes the most sense for us.

Since purchasing those two properties, I have not been able to purchase anything else. I had a triplex in PCB, Florida fall out of contract and lost earnest money due to picking an inexperienced contractor that my lender recommended. 

I’m currently looking at a few different markets for long term rentals, greater Cleveland area, Tampa, Kansas City, and Louisville. There is a bit of the analysis paralysis on my end, but we have lost out on 30+ offers over the past year including 2 this week. I’m just a bit frustrated with my current processes. My wife and I have spent the last year saving and have $120k in the bank to invest. I have a very good job and should have some commission checks in the $200-300k range come in over the next year. 

I’m interested in talking/partnering/working with someone that lives in a market like these and that has some experience. If you’re interested, hit me up. 

Thanks,

Jeff

[Mary K.]

I don't have an interest in this, not a realtor but agree with @Harrison Chow. I live in Ocala, FL, an area with explosive growth. Hard to find a cash flowing deal here now with the increase in pricing. If you want to know more about the market here, I'd talk to Clay Lehman at Resolute Property Management in Ocala who will give you an honest assessment. I had planned to buy more property in Ocala, but at least for now, am instead buying in the Columbus OH suburbs (where I grew up and also have a rental property) due to the stable economy and higher paying professional jobs. I bought another Columbus area property last month, within a 30 min drive of the new Intel plant under construction outside Columbus (Google that, it is leading to lots of growth). I was born in Canton and know Akron and assume you are cash flowing on that, but Akron isn't really growing and don't imagine it will appreciate IMO. If you want both appreciation and cash flow, I'd take a look at the suburbs of Columbus. Good luck.