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Updated over 2 years ago, 09/02/2022
First Time OOS Multifamily Investing
Hello BiggerPockets community,
Long time listener of the podcast, first time posting on the forum!
I am interested in purchasing my first investment property, which will be out of state. I am based in the Bay Area here in CA, and was looking towards the mid-west as a good area to start in; more specifically, Cleveland, OH (lower cost to enter, supply of multifamily housing, solid job market, solid IRR etc).
I really have two questions; does anyone have any advice in investing in the Cleveland area? Also, anyone willing to connect?
For additional context, I am looking to get into around B/B- properties and looking at the western part of Cleveland (like Parma, Brooklyn, Lakewood, s/o to this guide), ideally within the ~125-225k price range. My goal is to purchase a property, or at the very least, have an accepted offer by end of year (fingers crossed).
Please let me know if there is anything I can elaborate on as well.
Cheers,
Nate