All Forum Posts by: Ben Halabi

Hello BP Members 

I am planning to visit Cleveland,OH next week. Any recommendation on which areas to look for Buy & Hold investment properties. Realtors & property managers please send your contact info if possible and would like to connect. 

I live in an expensive market where it is very difficult to find cash flowing rental properties. That means I will be partnering on flips in the market I live in, but looking to buy and hold rental properties for cash flow elsewhere. 

How do you go about choosing where to invest remotely? Where are you investing right now remotely? 

Hello BP Team...

I am in search of a good trustworthy contractor in Cleveland, OH. Looking to get a unit rent ready; paint, floors, fixtures,etc. Does anyone have any recommendations?

Thank you

Hi BP family,

My name is Shirly, I'm so happy to stumble across BP. 

I thought it'll be nice to say hello after only reading in the past few weeks.

I'm looking to invest in the Cleveland area. I have two strategies, first to buy&hold SFH. (I hope to buy 2 a month)

the second I'm looking for a bigger investment in a multi-family 12 doors and up, or anything that can lead to good investments.

I'm not from Cleveland but I'll arrive for a week, from the end of next week. 

I'll be happy to meet, please PM me if you want to meet.

Thank you, and Happy Thanksgiving to you all.

Shirly. 

Hello all! I'm extremely excited to join the Bigger Pockets community! I'm a Newbie to real estate looking to get started in fix and flips or rental properties (preferably single family units to start). Can anyone offer any advice on obtaining some funding and first steps to take? I'm young and still building credit, so that is my biggest concern. I'm located in Cleveland, OH and for the time being, this is my area of choice to get started. Any input is appreciated! 

Thank you in advance,

Arihaun Gibson

Hi - I am going in mid-april to buy my first property in Cleveland, and I am looking for a good property manager.  I have found more success in other states working with single managers over large companies, but I am open to any and all suggestions.

Also, anyone have any specific questions that they ask property managers to see if they are any good?  I feel like its hard to tell until you start working with someone if they know what they are doing...

My name is Robert Mitchener, and I've been looking into real estate for a few months off and on, and in too many places to be honest. I've contacted multiple traditional lenders for information, and requested funding from them for some ideas I've had, all with the result of learning more without getting anywhere. I have two goals in mind; One, to become more proficient at finding and financing real estate deals for investment property. While this means that I may need to simply get more money to start out and maybe change my strategy, I do want to start owning a property sooner rather than later, having it and myself pay it off over 10 or 20 years instead of waiting that long to save enough money for a traditional mortgage and then spend 10 or 20 years paying it off after that. Two, I want to eventually become a private money lender, and help people like myself with good ideas get their hands on the property quickly instead of waiting even if they aren't making or saving incredible amounts of money. I'd like to be able to finance deals like Divvy Homes where I would purchase the property outright, and the borrower would simply pay like a rent-to-own property until they've paid it off, just without the minimum $1,000 in payments every month.

Perhaps I am thinking above my means, and I simply need to save money, purchase an owner-occupied property, improve it, then rent it out once it is paid off. My first post I made here was looking for information on turnkey styled investment property ownership and how to get money to fund those. I think for now I will be looking a lot more than actively trying to find something that will work.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Cleveland.

Purchase price: $62,000
Cash invested: $8,000

We bought this duplex from a wholesaler. it was listed at 68,500 and negotiated it down to 62k. We inherited a tenant in the down unit that didnt need any work. The up unit needs about 15k of work that we are currently working on to get it rent ready. It should be ready to go in about 6 weeks and we will cash flow around $200 per door after refinance. We used two private investors for a 6 % fee, balloon payment upon refinance. So, this was a no money down deal. We are splitting rehab costs with our partner, but it should be a perfect BRRRR and we should retrieve all of our capital on refi.

What made you interested in investing in this type of deal?

We started investing with a single family, and wanted to try the "Stack" method for more cashflow. I.E. single family, then duplex, then quad, etc....

Hi folks, I'm interested in buying 1st out of state property since CA is too expensive. Looking to buy SFR or small multifamily (2-4 units). Need financing or I can do HELOC out of my own property. Price range is better below 100k. Would like a light fixer so I can do BRRRR later. Looking for an area/city with strong job and population growth.

Here is my list of areas/cities below. Which area/city shall I start with. Would like to hear your opinions. 

1. Memphis, TN

2. Nashville, TN

3. Tampa, FL

4. Jacksonville, FL

5. Orlando, FL

6. Charlotte, NC

7. Indianapolis, IN

8. Cincinnati, OI

9. Cleveland, OI 

Thank you for your input.