CLE out of state investor - buy and HOLD < property management

[Henry Wang]

PLEASE REFRAIN FROM POSTING ON THIS THREAD IF YOU ARE NOT AN OUT OF STATE INVESTOR (this includes property managers, real estate investors and local flippers)

Hi all,

Starting an out of state investor thread here to see how everyone is doing on the HOLD part. I've talked to a number of out of state investors and the common theme is that there aren't that many good property managers in CLE and that they were cashflow negative with them.

Questions:

• How many properties and how long have you had them?
• How are you maintaining your property (ies)?
• Are you cashflow positive? (rent income covers expenses, mortgage, and more)

My experiences:

• How many properties and how long have you had them? 2 properties, 1 year
• How are you maintaining your property (ies)? Property management
• Are you cashflow positive? (rent income covers expenses, mortgage, and more) No.

If you're not comfortable sharing this info on the forum, feel free to DM me and we can chat. 

Cheers,

Henry