New investor in Northeast Ohio

[Tom Naylor]

Hi everyone! I've been researching my options in real estate for a while now and want to jump in so I've joined BP to network and find local support. My starting strategy is to focus on buy and hold SFH in the Lake County area, specifically around Painesville to Willoughby. I'm currently an engineer in the area with no real estate experience besides purchasing a home 2 years out of college. I intend to use real estate to achieve financial independence and give me the freedom to give back more to my community.

[Jeff Brower]

welcome @Tom Naylor. you have picked a good area. Willoughby, Eastlake, and mentor are my top recommendations in Lake. In Painesville I would only recommend the southern or eastern outskirts, unless directly near lake erie college. I am working with a couple of people currently who are looking for the same thing as you, right now one of my out of state buyers has one in contract in Willoughby. I also frequently view the vacant SFR's on weekends in the area just to stay sharp. I would recommend you have your agent set you up with an auto search on the mls that meets your criteria, and start getting a feel for the homes, areas, conditions, and price points that they are going for.

I see you are from Perry, so you know the announcement was just released about the nuclear plant closing. I would avoid that specific area around the village for that reason unless a great deal came up. 700ish jobs going away in the next few years may have a negative affect, plus taxes will be going up. Let me know if you have any specific questions and I will do my best to answer! 

What kind of engineering do you do? I went to OSU for aviation engineering.