All Forum Posts by: Dylan Michaels

Best of luck in your pursuit of riches in the Real Estate world.

Just do it. I would start by talking to local property managers and going to local Real Estate investing groups and see how others got their start. Good luck.

Northeast Ohio is a good market, Cleveland, Akron and Canton are several hot areas just to name a few.

In our first year of real estate investing (Beginning March 2019) we purchased and sold 1-flip (approx. $30,000 in profit) and we are closing on a multi location purchase that will bring our totals to 28 rental units in our first year. Our goal for 2020 is to get to between 50-70 units and 2 more flips by the end of the year. Our long term goal is to have 100 units by the end of 2021 and 300-500 units by the end of 2025.

Just purchased 4 more buildings (13 Units total).  Should close by March 1st, 2020 average price per door was $21,000. I Purchased them from one owner who was looking to retire from the rental business. My advice is to ask around and see who the multi unit owners are in your investment areas and see if they are willing to make a package deal then finance them as one loan to save on closing costs. You can always refinance them in the future.

I graduated from Kent State University with a BBA in Management. My hobbies include Drag racing and triathlons (I have completed 2 Half IRONMANs and a full IRONMAN-LOU 2015) I have worked in the construction industry for over 25 years including, wholesale, retail and installation. I own a small construction company in the Cleveland, Ohio area and own a Real Estate Investment company which has acquired 15 rental units and completed a fix and flip since March of 2019. We had to rein it in a little at the end of the year to let the refinances catch up to the purchases. Currently looking to purchase a multi location portfolio from a retiring landlord. I first got into real estate when I attended a Real Estate Elevated conference (Tarak & Christina) and then was sucked into a 3-day seminar for $2000 and also a year long training scheme for $15,000. That being said it wasn't a complete waste of money because I did have a few small pieces that were valuable but I would not recommend spending the money because I have since found BIGGER POCKETS as well as several valuable website to learn from as well as many good books. Our goals in real estate at this time are to have 100 units within 5 years and 250-300 in 10 years. We have started with our own capital for the down payments (HELOC) but will refinance the current properties and use that money to acquire more rentals.