All Forum Posts by: Jack Smith

Colin - I'd also suggest looking at Akron (Go Zips!). They have a healthy stream of international students that typically stay year round and a good amount of rental properties in the Spicertown area. The rental area has shifted over recent years as the University continues to expand campus. I'd suggest you join in on some of the local REIA meetings in Akron to get to know some folks that are in that segment. Go to ACREIA . org to see their upcoming meetups.

I did not think to write it down.  You can contact him here:  David Supelak, CPA, MT  https://www.claconnect.com/dir... He's got a pretty strong expertise in this respect, 1031, etc... 

Finding a 'good' property management company in this area is very difficult.  Monthly fees, maintenance fees, monthly reporting, tenant screening, preventative maintenance, timely billing... it's not easy to find a company that will take care of your baby and spend your money like it's theirs.  

It's interesting to read the companies discussed on this thread, some have managed mine in the past.  I couldn't keep it up and brought it in house.  Who knows if I'll be able to keep it up, but until we get some better options in the area I don't see any other choice.

Brittin - use 8-10% for capex & maintenance.  

Find anyone useful, Mike?  I'm looking around.  

Ohio Out-of-State Investors Wealth Building Group

Ohio, especially Stark County, is an excellent environment for real estate investing! Opportunities exist in Canton - Toledo - Columbus - Cincinnati – Dayton – Akron – Youngstown – Cleveland – and more! It can be very daunting to take advantage of these golden nuggets of real estate if you do not live in the area and have never physically seen the properties.

If you have had your eye on Ohio, then you need to be part of our monthly focus group for Out-of-State Investors. At this monthly, online event, we explore avenues to assist non-local investors participate in our neighborhoods. Come establish potential new partnerships with other investors, ask questions about specific properties, ask for references for service providers, find local funding sources, find local wholesalers, and more! Note – there will be no hawking of goods nor any sales presentations… just like-minded folks looking to network.

This group is a MUST for any investor who lives outside of the State of Ohio. In addition, LOCAL investors/wholesalers who have properties to sell as well as service providers such as realtors, contractors, lawyers, accountants, title companies, property managers, etc., will benefit from attending.

Stark County REIA is part of the Ohio REIA network of 13 chapters across the state. We can connect you with other association members that are not the "scammers" that prey on uninformed investors online. Although we cannot guarantee all deals will make money, we do our best to provide an environment to promotes open discussion and education about real estate investing opportunities.

Join us online from 12:00-1:30 p.m. EASTERN TIME on the second Saturday of each month.

Members of any Ohio REIA chapter can attend for FREE (use promo code VirtualOREIA). Non-members are $5 per meeting. If you are not a member, consider joining.

Go here - https://www.investinstark.com/ to learn more about membership benefits. You do not have to live in Ohio to be a member.

I was hosting our monthly call last week of real estate investors from other states working in Ohio. We had a CPA on the call from Akron and I specifically asked him this question. He emphatically agreed with the need to file in Ohio – even specifying the Ohio form number needed.

I suggest getting some better advice.

What better way to scare off any competition... 'just listen to me, rookie...'  As they say, the best time to plant a tree was 20 years ago.  The second best time is today.  

Might want to check with a CPA for second and third opinions that knows your specific situation.  Typically, you file where the revenue is generated, regardless of whether or not you made any money (and now you'll probably make a little less!).  I've got to believe Englewood is going to want their tax share, too.  All the cities I invest in get their piece, even though I don't live in any of them.   

It depends... All areas are pretty hot right now.  But some areas are better to get in and out; others are better for getting in and staying. Buy and hold vs flip; short term rentals vs long term rentals, commercial vs residential, residents vs storage units, stick built vs mobile... Cash flow is better in some areas than others.  Appreciation is better in some areas than others.  

Can't really answer your question without more details of what you intend to do.