**“Kendric, first off, you’re already ahead of the game with your willingness to learn and adapt—plus, having a ‘mishap’ fund shows you’re planning smart!
Ohio is a great market for cash flow. Cleveland, in particular, has been a hotbed for investors due to its low entry prices and stable rental demand. A duplex could be an excellent choice to help you ease into multifamily without feeling overwhelmed. With your budget, you could potentially house hack or grab two smaller properties to diversify your investments.
A couple of things to consider:
• Out-of-State Management: Have you looked into property managers in Ohio? A good one can make or break your experience.
• Neighborhood Research: Stick to B or C+ neighborhoods with stable rental demand. Areas near colleges or hospitals can also provide steady tenants.
• Inspection/Contingency Fund: Since you’ve dealt with flat roofs, you know the importance of inspections. In Ohio, older homes might bring hidden maintenance costs, so that $20k reserve will come in handy.
What’s your goal with this next purchase—maximize cash flow or focus on long-term appreciation? Let’s brainstorm some ideas!