All Forum Posts by: Adam Bontrager

@Jennifer Noble

First of all, welcome to BP!  You've definitely taken a leap towards your goal of passive income.

I work with a turn key company out of Cleveland, OH and let me tell you, the home prices are WAY more affordable than anything you'll find in CA (but I think you already knew that ;).  Cleveland is seeing a cultural renaissance and the population is growing.  If you're interested, I'd love to discuss some of the properties available in my market.  All of them have tenants already in place, are cash flowing, and are under excellent property management.  Cleveland offers excellent returns and I have a local team of experts to support your investing goals.

Please reach out to me if you're interested in learning more.  I'd love to help you reach that 4 hour work week if I'm able.

@Eric Kang

I know a lot of West Coast investors buy rental properties here in the Midwest.  Home prices are relatively low and rental rates are high.  In the Cleveland market where I work, you'll typically see cap rates of 8 to 12% and after financing, a lot of investors are getting cash on cash returns as high as 25%.  

I work with a turnkey company in Cleveland and there is a lot of out of state investors investing here.  It's an easy solution for them because the returns are great and we already have all the infrastructure to manage their investments from start to finish.  There's no headache because the properties cash flow and are carefully managed from day one.

If you're interested in learning more, please feel free to reach out to me.  

Best of luck to you and happy investing!

@Christopher Griffin

That looks like a pretty comprehensive data set.  In my opinion, jobs are one of the greatest determinants when doing research.  If there are large companies in the area providing jobs, you will have housing demand.

I agree with @Jay Hinrichsthough.  Mid-west area properties will generally be in the 50k to 120k range.  

And as always, I can't stress enough the importance of having a good team to be your "boots on the ground."  No matter how the numbers theoretically work out, if you don't have a local team to rely on, you're going to either run ragged trying to keep an eye on everything from afar or the numbers won't work out as you'd planned.

Absolutely!  Cleveland's culture is really budding.  The city has gone through a rough patch but we've come out stronger than ever before.  There's still work to be done but Cleveland residents are proud to be a part of "The Land".  We're proud of where we've come from and where we see the city going.

The downtown area has really seen a resurgence of culture and activity.  LeBron returned to Cleveland and the Cavs have one of the best lineups they've ever had.  We're seeing a lot of young college graduates move into the area, attracted here by the jobs and the revitalized culture.  Young people want things to do and there's no shortage of that here in Cleveland

In the areas I work in, both rents and demand are high.  There's plenty of tenants in the market and vacancies are filled quickly.  In short, the stage is set for investors in the coming years.

@Crystal Perez

I don't have any experience in the PA or CT markets.  However, I do know that both Indiana and Ohio have some great investment opportunities.  Obviously that would be over 3 hours from where you're at but I wouldn't rule them out completely without taking a look.

My personal experience is in the Cleveland market.  Cleveland is experiencing a renaissance that is unprecendented and the city is full of opportunity.

Best of luck to you in your investing endeavors!  Feel free to reach out to me with any questions.  I'd be happy to help in any way I can. 

@Luke Pauling

Welcome to BP!  I love seeing other young people who are excited about real estate.  

As you've likely already seen, BiggerPockets is an awesome resource for newbie investors.  Jump into the forums, blogs, etc.  You'll learn so much and you'll meet some really great, successful people. 

Feel free to reach out to me with any questions.

Happy investing!

Welcome to BP @David Diaz!  

You've taken a great first step in your journey to real estate success.  There's a lot of great information here in the forums, blogs, etc.  Also a lot of great people who are more than happy to answer your questions and help you out.

Are you planning to invest locally or are you looking at other markets?

Feel free to reach out to me with any questions.

@Jen Hoang

I'm not familiar with any great Turnkey companies in the areas you specified (although I'm sure they're there).  I would encourage you to look into the Cleveland market as well.  Cleveland is experiencing a renaissance and the market is perfect for investors.

There's a lot of people moving into Cleveland (especially younger demographics) and the demand for rentals is strong.  Additionally, the buy in for investors is very affordable.

I would love to discuss some of the phenomenal opportunities available.  Feel free to reach out if I can be of any assistance.

@Jarett Cory

Are these 0% APR promotions? I have to say, the idea of financing a property using credit card debt makes me pretty nervous. I'd be interested to know if anyone else has tried this. It just doesn't seem like a very good long term option.

I appreciate your enthusiasm to jump right in there and get started but I think you might be better served either 1) waiting and building up some capital, 2) finding more stable financing options, or 3) finding a real deal and then partnering with another investor who could help with the capital requirements.  

Just my two cents.

@Jason Natelle

Choosing between Turnkey vs. local/self-managed really just depends on your goals.  All else being equal, local is the preferable option since you can easily check up on your properties to make sure everything is as it should be.  However, turnkey is a great option for investors living in markets with some sort of prohibitive factor.  The key is to make sure you do your due diligence on the turnkey providers/property managers you will be working with.  A great team will make a huge difference in your success.

Feel free to reach out to me with any questions.  I'd love to discuss some of the opportunities available in my market.