All Forum Posts by: Ryan Arth

@Bayo Badejo Agreed, that Zip touches a lot of different areas, from the national park to south of exchange. General area and property class would be needed at a minimum for anyone to offer an intelligent response. 

@Scott L. I would start with the marketplace section here on BP. I would also join every FB group for investors, from local to California, and post the package there as well. Also on Loopnet, which you could do yourself. If you are looking to list the portfolio, the agent could do Loopnet and the MLS.

If you are looking for a private sale I have a few investors that I could shop it to, as well some private groups that I am a member of. Feel free to shoot me some high level particulars and I can keep you anonymous. 

I have a friend here who has about 140 houses right now, who I was discussing return on equity with. When we looked at what his cashflow is currently, and then considered what he would net out of a sale post tax, he decided to keep owning the properties. His reason was the only thing he knew to do with the proceeds was to loan it back out at 12%, and he would be "behind" where he is now in cashflow.

His proceeds would have given him options up to and including PE, but he is a simple man and in his case holding was the option for now. 

That may not apply to you, as a financial professional, but I thought I would share the story.

Obiously you could re-lever your portfolio to bring the ROE back up, but then you have to place those borrowed funds somewhere that nets a high enough return that the portfolio is ahead, given the drag of the interest and any transaction fees.  
  

If you don't have any connections here, find people that are investors here and reach out to them for a referral (whether on here or FB). Then you can avoid the self promotion issue. 

I usually advise folks moving to a new area to rent for awhile to get the lay of the land. Once you are on site you can decide if your $20K should be used as a downpayment on a double to house hack (to stop renting), a single to just stop renting, or a single to lease out. You will have enough for a small downpayment on each option, depending on the area chosen in each case, and you won't have much of a cushion after closing costs. 

Congratulations. Solid looking building in Rocky. 

Yes, we are currently doing spec builds in our market, for market sale. Those are not client builds, they are in house. We are talking with a couple of clients about doing build to rent for them right now.

"The places I really like for investment properties are going to be Old Brooklyn/Brooklyn next to the Cleveland Metroparks zoo, Tremont, and Cleveland Heights, and Hough. There are other ares as well, but this is a good start since you want to be in A/B neighborhoods."

Alfath, I may be misreading this, but are you saying these are A/B neighborhoods of Cleveland? 

@Clarence Harvey There are a handful of regular meetups. Check meetup.com and also join all of the local FB groups for investors and you should see postings. Darian Thomas hosts a monthly one in Lakewood, Lokal has a monthly one at the Aviator, there is another at Market Garden on W25, and the Icon folks have one in Lakewood as well. There are a lot of pop up ones, one is tomorrow evening at Masthead brewery downtown.

@Pooja Ramchandani Welcome to the area. Are you looking to invest near to Hudson? 

Any attorney can handle LLC formation, but attorney's versed in real estate investment will be helpful if you ever have LPs in a deal or attempt anything more complicated than a vanilla rental purchase.

A couple that I would recommend for the latter:

Paul (and Adam) Vincent

David Streeter

If you aren't structuring complicated partnerships I would also recommend Darren Dowd.