Hello to everyone. I'm a newbie in real estate and purchased my 1st rental property (duplex) in February of this year in the Cleveland, Ohio market. I plan to pick up 4 more properties in the near term to buy and hold and raise capital. I would eventually like to purchase small apartment buildings for cash flow and eventually rehab and sell properties. I'm not limited to any particular market and started in Cleveland because I'm from there and am familiar with the market. I guess my biggest needs right now are good realtors, good/better management companies in various markets (my management company in Cleveland is lacking) and info on finances with regard to taxes, LLC's etc.
My 1st deal went smoothly. I picked up a Duplex from a seller who was managing the property herself and wanted out. The house needed nothing and had tenants in it. I bought it for a purchase price of $13,000. The house makes $970 pr month with room to raise the rents. I'm looking for similar deals, meaning 2-4 units for less than 30K that can rent for around $500 pr unit minimum. Any help and advise would be greatly appreciated and I look forward to seeing you on the forum!
Dave
