All Forum Posts by: Drew Nashmy

So, another Monday, another unsuccessful trip to the Sheriff's sale! I use an algorithm of multiple factors to determine my "buy" price for our properties. One example from today was a max bid of $100k, which I bumped to $105k. I bid up to that number, and the property sold for $106k. Knowing that there was no way to know if I had continued bidding where it would have ended up, am I being cautious or foolish?

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Originally posted by @Andrew Weiner:

I would think about maintaining Cleveland while standing up a new team in your new market. If the distance management is too much then you can let go of Cleveland and focus on your new market that you have already started rebuilding in. If the remote management turns out to be easy then you now have market diversification which is fantastic. I do know a few people that have maintained remote businesses successfully, they fly in a few times a year which is not a big deal for them. The biggest factor is personality, if you are okay with out being on site and watching from a computer screen then you might do very well with this, some people need to be on site and have the in person interaction for their mental health. Good luck and I hope the move is successful!

Andrew, this is a fantastic idea and a great way to look at geo-expansion.

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I am currently in the Cleveland, OH area and I have a solid team for my real estate investing company. Realtors, Contractor, Designer, lenders, appraisers. To the point where once I close on the purchase, I can walk away to the next one.

That said, I am considering a lifestyle change and a move to a new area entirely. Although I am confident I could continue my work in Ohio, I am concerned about being able to start again in a new market and find the people to build a team I can trust.

Have any of you ever done that? Am I worrying about something I really shouldn't be?

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Wow! That is impressive! And it looks like you have acted on the lessons you have learned. Always motivating to see action come out of education.

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What a great story! Keep up the momentum!

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A lot of people have mentioned this on the thread, but pictures are always far from reality. THAT SAID: if you are looking to save time, you can of course make an offer based on what you are seeing, as long as you keep an inspection clause in the contract. That way you can go and see the property if your offer is accepted and negotiate from there.

1 Vote

Originally posted by @George Munoz:

Originally posted by @Steven Foster Wilson:

@Drew Nashmy similarly here in Columbus OH it seems as though inventory is flying off the market. When something hits, its like a mad house to see it, even if its not priced "to sell".

Though I am cold calling about 100 people a day to try and source off market deals. So far ive been able to put 5 in contract with very little competition.

Same As @Steve Wilson, @Drew Nashmy ,

This month along I closed on 4 deals (OFF MARKET) Pure cold call, follow ups on old leads and direct calls from direct mail. All of them between at a .70 and .75 multiplier of ARV.. (SUPER Hot and competitive market ) CRazy competitive, ridiculous. But is possible man. I have a very good Friend that I met here on BP @Redha Laafia, He is part time cold calling and text msg and he have gotten a few deals (is impressive what you can do with persistence and dedication ) Love that guy! Pretty much self taught that is awesome.!!

Is out there man , is out there!

George, thanks for the insight and encouragement!

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Originally posted by @Steven Foster Wilson:

@Drew Nashmy similarly here in Columbus OH it seems as though inventory is flying off the market. When something hits, its like a mad house to see it, even if its not priced "to sell".

Though I am cold calling about 100 people a day to try and source off market deals. So far ive been able to put 5 in contract with very little competition.

Glad to hear you have a strategy that is still working for you. Although I have heard of that before, cold calling for houses is not something I have any experience with. Love to learn more.

1 Vote

Originally posted by @Michael P.:

Plenty of inventory here in Tolèdo.

Toledo is not terribly far at all. . . Might have to start a search there.

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Originally posted by @Brian Buckingham:

I thought I saw Inventory standing in line at the planning and Development office with its piggy bank shelling over its last quarter hoping that the wetland study comes back with good news before it goes bust.

Hopefully that study comes back with good news!

1 Vote

All Forum Posts by: Drew Nashmy

Drew Nashmy has started 6 posts and replied 35 times.

Post: I am being cautious or foolish?

Post: How scary is moving to a new market?

Post: How scary is moving to a new market?

Post: Finished all of the bigger pockets podcast

Post: First Deal = $1600+ Cash Flow!!

Post: Estimating repair costs off MLS pictures...okay to do? Or stupid?

Post: INVENTORY! Where are you?!

Post: INVENTORY! Where are you?!

Post: INVENTORY! Where are you?!

Post: INVENTORY! Where are you?!