New REI's in Cleveland Roundup!

[Casey Ocasio]

Hello all! I'm new to REI and am interested in connecting with other newbies (and of course seasoned pros) here in Cleveland. Are you also just getting started? Let's connect about how your research is going, what strategy you're pursuing, etc. If you're established and want to weigh in with sage advice and encouragement, please do!

I'll start: I'm Casey, a creative director / marketer by profession and a lifelong-learner with a passion for entrepreneurial ventures and a knack for numbers... so a passionate right/left brainer. I'm just getting into REI and am in the process of learning as much as i can, solidifying my strategy and building connections. I Just wrapped up "Rich Dad, Poor Dad", starting on "Building Wealth One House at a time" (Schaub) and devouring BP podcasts and webinars. I hope to make my first deal in the next 6 months, leveraging the equity that we've built in our primary residence. At this point I am thinking a 2-3 family home either in Lakewood or Cleveland Heights... although the heat of the Lakewood market worries me a bit. Additionally, I know there's a lot of competition here in Cleveland from out of state investors, so am thinking that driving for dollars may help me to take advantage of being a local, plus my marketing and communications skills will come in handy with this approach.

Thoughts? Feedback? Recommendations? What's your plan?

[James Wise]

Originally posted by @Casey Ocasio:

Hello all! I'm new to REI and am interested in connecting with other newbies (and of course seasoned pros) here in Cleveland. Are you also just getting started? Let's connect about how your research is going, what strategy you're pursuing, etc. If you're established and want to weigh in with sage advice and encouragement, please do!

I'll start: I'm Casey, a creative director / marketer by profession and a lifelong-learner with a passion for entrepreneurial ventures and a knack for numbers... so a passionate right/left brainer. I'm just getting into REI and am in the process of learning as much as i can, solidifying my strategy and building connections. I Just wrapped up "Rich Dad, Poor Dad", starting on "Building Wealth One House at a time" (Schaub) and devouring BP podcasts and webinars. I hope to make my first deal in the next 6 months, leveraging the equity that we've built in our primary residence. At this point I am thinking a 2-3 family home either in Lakewood or Cleveland Heights... although the heat of the Lakewood market worries me a bit. Additionally, I know there's a lot of competition here in Cleveland from out of state investors, so am thinking that driving for dollars may help me to take advantage of being a local, plus my marketing and communications skills will come in handy with this approach.

Thoughts? Feedback? Recommendations? What's your plan?

 Welcome to the site Casey.

It is very true that you face intense competition from out of state investors. I know that game all to well. To be honest I am probably one of the biggest reasons for that, but that's a whole different topic.

To get the deals you need to be quick. You need to be ready to make an offer the day they go on the MLS and do not be afraid to put in firm offers without tons of strings. While being cautious isn't necessarily a bad thing, especially if you are out of state you as a local can use that to your advantage. You have the opportunity to see the homes and the neighbors in person immediately. If you do so you shouldn't need to attach tons of strings to your offers. I buy many multi family buildings without seeing every single unit in the property. For example my most recent purchase was a 43 unit building that I only seen about 30 of the units.