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All Forum Posts by: Account Closed

Account Closed has started 7 posts and replied 87 times.

Post: Investor Friendly title company in/near Cleveland, Ohio

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

I use New Market Title in Solon, which is a division of Chicago Title.

Post: Is this a good deal / what's the next step?

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

I strongly suggest you listen to @Matthew King and @James Wise. They know both the market/area and the commercial side. There's a reason it's been for sale for 2 years.

Post: Rental Insurance

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

I use Anne Flynn in Parma. She does a great job, everything can be signed/done online. They give you exactly what you need at fair rates and great service. I highly recommend them! I'm sure Kevin is top notch too!

Post: Rookie from cleveland

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

Welcome - good luck to you!

Post: New Member in the Cleveland, Ohio Area

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

Welcome! Good luck to you.

Post: New member from Cleveland, Ohio

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

Welcome and good luck!

Post: Ohio City / Cleveland: Influx of Younger, Wealthier Residents...

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

The out of town investors would be smart to listen to the folks on the ground here in Cleveland. I cringe when i read a post that says anything like "In my town ...". My model works very well in Cleveland, OH. It may or may not work well in another city/state, but I would definitely do a lot of due diligence and ask tons of people on the ground for their perspective. I invest in the lower end for buy and hold and the mid to upper end for flips. The lower end properties only work for me because I am on the ground and I am both able (and not afraid) to go to my properties multiple times a month and deal with any issues that pop up - and there are many. I make great returns, but I work for them. Unfortunately the "get rich while sitting in your underwear counting your money" schemes are exactly that - schemes. Anyone doing well as a real estate investor (actually doing well, not saying they are doing well to get you to pay them $1,000 to tell you how) will tell you they grind - constantly. I have had success in using private money to contribute to my business. It might be a good way for out of town investors to be involved in a market like Cleveland if you don't want to pay the prices for the A & B neighborhoods. The properties are worth more there for a reason.

Post: Ohio City / Cleveland: Influx of Younger, Wealthier Residents...

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

Cleveland is full of opportunity. Shockingly the media portrayal is not well rounded. @Matt Motil hit the nail in the head.

Post: Organization

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

@Evan Wiesner Great comments! I checked out the Gorilla program some time ago and it looks like a great way for less experienced investors to collaborate with a real partner, not just a lender. Also - I am a native Portlander. I was born and raised there. Great city - I have a ton of family still there.

Post: Organization

Account ClosedPosted
  • Contractor
  • Cleveland, OH
  • Posts 123
  • Votes 115

As you build your business, you need to be able to change your approach to continue to be successful.  I used to be able to focus on just one task/project, but as I grow my business, I need to change my approach to be successful.

For example, I am currently growing my portfolio of private lenders to grow my flipping business more rapidly, have 2 flips being rehabbed, 2 rental properties being rehabbed, and 2 evictions in process. Without planning and organizing, I would not be able to manage all of these at the same time. 

I spend at least an hour every day planning. My mantra is plan the work, then work the plan. Without the planning process to keep me in line, things fall through the cracks. It's easy to get out of balance when finding the right amount of time to plan and the right amount of time to take action. Action without planning rarely produces the desired result, and planning without action amounts to wasting too much time.

I have found between 1-2 hours of planning a day is necessary to keep me on task and all the projects advancing at an acceptable pace. Any less and I miss things I should not miss, any more and I wind up too far in the rabbit hole and not accomplishing what I need to accomplish.

Find good people that can help you with things. I have 2 great realtors that help with comps and remodeling/interior design ideas, my wife does a great job shopping prices to keep costs down on materials and she herself is a talented designer, I have an insurance agent who handles everything online and same day, a great real estate attorney who keeps costs down but gets things done quickly and professionally, and a great guys that runs my rehab work who spends only what is necessary and keeps the projects moving forward.

With all that said - you gotta do something! Too much time is spent analyzing, thinking, debating, and worrying. Keep meeting people, keep looking for deals, and most important - keep taking action! Action is what separates successful from unsuccessful people.