All Forum Posts by: Jack Smith

Hi Michael, any that come up in a search for Alliance or Canton will cover Louisville, unless you're looking for a small local realtor. ClearSky, Icon, HPM are three that jump to mind, and only because they are each active in our local REIA so we see them often. All are decent, stable, and successful, but you need to vet them for your specific needs. Good luck!

Quote from @Nathan Harden:

Quote from @Jack Smith:

For what it's worth... Akron is a very blue city and are not very landlord friendly - source of income protections, etc... Canton is not quite as bad, although they have increased annual fees and initial inspection requirements in the past few years that Akron never put in place.  Evictions are very easy in Canton but can be trickier in Akron, especially over the past year.  Being a part of the local REIAs in both towns can help you understand more of what is going on.  

Look up InvestinStark.com & ACREIA.org for more information!  

Will do, appreciate the response!
do you guys post off market deals on there/is there a better place to find be off market deals in Canton rather than Craigslist or marketplace?

It takes time to build relationships with local wholesalers & tired LLs, where ever you are looking to buy.  

For what it's worth... Akron is a very blue city and are not very landlord friendly - source of income protections, etc... Canton is not quite as bad, although they have increased annual fees and initial inspection requirements in the past few years that Akron never put in place.  Evictions are very easy in Canton but can be trickier in Akron, especially over the past year.  Being a part of the local REIAs in both towns can help you understand more of what is going on.  

Look up InvestinStark.com & ACREIA.org for more information!  

@Pawan Gupta

Hello, I have been heavily involved in Canton for a number of years both flipping and Buy & Hold, and can provide any information you might be curious about. But watch if you're following the BRRRR method - many city houses are still under $100k value which is below the minimum required by many lenders. I have one now I'm stuck on which we rehabbed a year ago and will probably just sell as I can't get it refied without some outrageous terms.

We still have high demand in the area and rents have stabilized, maybe even dropped a tad of late.  I self manage, but use ICON to help with leasing.  They are a decent management company and a vendor member of Stark County REIA, but there are few others to check into as well.  Contractors are very tough right now, as many are booked through the summer depending upon the scope of work you need done.  Small jobs and handyman work are easier to deal with.  

Good luck!  There's deals still to be had around here!  

Quote from @Beethoven Penalo:

I'm a out of state investor interested in the Akron & Youngstown market can anyone provide any information on those markets. I'm located in the northeast and multifamily investing is out of my budget here but the Akron & Youngstown prices are appealing. 

Hi Beethoven, I would suggest you get involved with our local REIAs; each area mentioned is just different enough that not knowing the lay of the land can cause some investing errors... 

Mahoning Valley covers the large area surrounding Youngstown - https://www.mahoningvalleyreia.com 

ACREIA covers the Summit / Portage / Stark areas - https://www.acreia.org/ 

SCREIA covers the Stark areas - https://www.investinstark.com/ 

Tuscarawas County covers the New Philly/Dover areas - https://www.tuscreia.org/ 

Quote from @Nathan Harden:

Quote from @Bob Stevens:

Quote from @Nathan Harden:

I am an out of state investor that was handcuffed when picking a contractor. I bought a property to BRRRR, the next day it was broken into and stripped of everything. I was handcuffed to get this project started asap because the house now had the front door kicked in and a couple broken windows and I had the city code enforcement on my case so I panicked and I was only able to obtain 1 bid for this project and took it with no hesitation. The rehab took 3 months (was supposed to take 2). I have paid the contractor in full, $40,500 and I sent my property management out there to check the progress. They said it's about 60% finished. Naturally, I called the GC he then told me to take him to court.
Things I’ve learned (and still learning)

All contractors are not the same. 
Make sure to have PM check progress regularly, even if it’s a service call charge. 
Never pay in full until PM has given the thumbs up, not the contractor. 

Learn from my mistakes!

 I have done  1ks and 1ks of  reno/repairs over the years ALL out of state. Its all about your team. NEVER do a deal without a trusted team. I live in FL and do all my business in Cleveland. I fly in twice a year, WARM season only.

All the best 

 Then this didn't happen too far from where you invest. This actually happened in Canton.

When establishing your team in Cleveland, did you fly out and meet them in person or did you come across them by referrals? 

@Nathan Harden
thats too bad… I invest in Canton and very active with the local REIA.  I would love to know more particulars of who was involved.  Stay in touch if you’re going to invest more in the area.  I’ll DM you to talk off line.  

Quote from @Aravind Varma:

Hi Jack - I am an out of state investor in Canton, OH trying to close on my first property.

Would love to connect with community but will be unable to attend in-person meets, let me know if you have any suggestions on how I can network with the local group as an out of state investor

Hi Aravind, glad to meet you!  While we have many local events, we currently are not doing any on-line.  That seems to be an ongoing debate and topic about we can offer on-line sessions without hurting attendance at live events.  A huge benefit of live events is having real interaction and networking that can't happen on-line.  But that doesn't help folks like yourself that are out of town investors.  Not that long ago we used to have a monthly zoom call specifically for out of town investors, but it was poorly attended so we discontinued it.  We will continue to look for ways to meet this gap in our program.  

In the meantime, there are some of our Ohio REIA affiliates that are doing some portion of their focus group meetings on-line which I would encourage you to investigate, but they are based in the Cincinnati and Columbus areas. You can go to OREIA.com and select 'local groups' to find links to all of us OREIA affiliates in the state. You can also join our Facebook page and go to our site - InvestInStark.com to sign up for our emails. Both ways will allow you to stay in touch with the area events and hopefully soon we can add something soon that would serve your needs.

Don't forget to come out TOMORROW NIGHT to meet vendors that want to help you succeed in your REI journey!
This is a free event for non-members - so bring a friend!
Stark County REIA Vendor Showcase Night at LaPizzeria on 3656 Dressler Rd NW, Canton, OH 44718 ; in Jackson Township

Go here to learn more:  SCREIA Main Monthly Meeting Vendor Showcase Night

@Christopher Sandys

Hi Christopher, I am only a casual observer in this, hearing bits and pieces through my colleagues in that area I know through OREIA.  You sound pretty well in tune with this (fantastic!) and all of the rest of us in the state have been watching it closely, fearful of this kind of legislation spreading (has already into Cleveland, maybe also other cities in the southern part of the state).  

Are you connected with the Toledo Property Investors Network?  https://www.toledopin.com/ I'm not sure if Toledo REIA is participating in the lawsuits.

If any of the readers of this thread that are investing in Toledo are not actively involved in one of the area REIAs I would greatly encourage them to rethink that approach!  

Come join us for a night of networking with Vendors whose specialties are Real Estate Investors!  - AND who specifically want to meet YOU!

This evening we've gathered a balanced collection of 20+ vendors looking to network with the area REI community!  And we're VERY EXCITED to host our first monthly meeting at La Pizzeria Restaurant & Banquet Hall on the corner of Hills & Dales and Dressler Roads in Jackson Twp.  Meet and greet Vendors that can help grow your business and stick around for networking with fellow investors, Door Prizes, Give-Aways, & Vendor Promotional Items throughout the evening - lots of fun for everyone!

Agenda:
6:00: Pre-Meeting at LaPizzeria restaurant. Come early to pregame at an open dinner in the restaurant area (on your own).
6:30: Doors Open for Registration. Come on in and get a head start learning more about the various services they offer!
7:00: Round-Robin Introduction. Each vendor will get an opportunity to introduce themselves to the group
8:30: The Meeting-After-the-Meeting. Join us across the street at Loby's Bar & Grill for refreshments and more food (this is on your own, too...).

This is a free meeting for anyone to attend - there are no requirements of membership, only a free registration of attendees to be added to our communications.  Light finger foods and basic refreshments provided during the Showcase Event.

Register here: Vendor Showcase Night .  This evening also provides 1.5 hour credit towards the Purchasing OPHP requirements & Pre-registration is required for those wanting to earn OPHP credits.