All Forum Posts by: Michael Ohara

I second what @Ley Nezifort said about #2. I felt the same way, but my experience using HML went well. Due diligence is key. Your experience and credit score certainly help in getting better rates. I have access to private money that will fund up to 90% of the purchase price. All the best.

0 Votes

Originally posted by @Michael Hollis:

@Michael Ohara have you had any success finding a good agent(s) in Cleveland? Having trouble finding consistency.

Hey Michael, I don't really use agents. I get my deals off-market. I did speak with agents early on when I was researching. I'm sure there are plenty of good investor-friendly agents here on BP. All the best.

1 Vote

Originally posted by @Jasraj Singh:

Originally posted by @Michael Ohara:

Originally posted by @Jasraj Singh:

Originally posted by @Michael Ohara:

@Jasraj Singh I live in Hawaii and invest in Cleveland. We chose Cleveland because there are good deals and a strong rental market. Having a good team on the ground is critical.

excellent! but could you tell me how did you find out that Cleveland is a strong rental market? like by visiting there or talking to agents?

Yes, I visited before I did anything. Some don't like Cleveland for this reason or that, but at the end of the day, there are lots of renters there. Yes, we spoke with agents and property managers. All the best!

Alright! thanks man so you suggest me to visit and then think about investing there cause I'm confused how can I choose a market to invest in here?

Yeah, it's tough choosing a market. We took the ready, fire, aim approach. haha. We know we wanted to be in the Midwest market, so jumped into the deep end. Not recommended, but we felt we needed to go for it and then learn as we go. They say you pay for your education either in a classroom or on the street. We definitely got knocked around. Everyone's risk profile is different, but at the end of the day you have to decide, or you will be on the sidelines forever.

1 Vote

Originally posted by @Tadela Tedemet:

Everyone here is so awesome! Thank you guys so much and @James Wise thank you so much for that link! I almost bought a property yesterday for 9k in the deep East i guess not the best neighborhood lol... but luckily I have a contractor out there who said not to...searching on the west now.

Whew!! That was a close one. It's great that you have someone on the ground who can run recon for you. The Westside is hot, but don't ignore the east side too. :)

1 Vote

Originally posted by @Jasraj Singh:

Originally posted by @Michael Ohara:

@Jasraj Singh I live in Hawaii and invest in Cleveland. We chose Cleveland because there are good deals and a strong rental market. Having a good team on the ground is critical.

excellent! but could you tell me how did you find out that Cleveland is a strong rental market? like by visiting there or talking to agents?

0 Votes

Originally posted by @Lake Lutes:

@Michael Ohara I am also located on Oahu and have been deciding between different out of state markets. Would love to hear more about how you chose Ohio and what your property management company offers you to make you feel good about an investment so far. Shoots!

Right on! I'm on Oahu too. We chose Cleveland because prices were low and we like what was happening in the city. Amazon is building a distribution center. Sherman-Williams is moving their HQ there, Cleveland Clinic is a huge industry. We flew to Cleveland and drove around and got a feel for the place. Your management company should have a solid idea about market conditions, be responsive, and no playing around with evictions, because you will have to evict. All the best.

3 Votes

@Jasraj Singh I live in Hawaii and invest in Cleveland. We chose Cleveland because there are good deals and a strong rental market. Having a good team on the ground is critical.

2 Votes

@Oluwasegun Oluwadele

Look on Zillow for recently sold homes that look like flips (gray walls, stainless steel, laminate floors,etc). Go to county records and find who the seller (flipper) was. You will know they are investors if the seller was an LLC and/or the time between acquisition and disposition was short. Contact the Company (a bit hard to find info), and reach out with your deal. At least you know they do deals and aren't tire kickers.

1 Vote

@Tyler Winchell I sold it, licked my wounds, remembered my “why,” and kept going.

1 Vote

@Tyler Winchell

Main issue was inexperience and biting off more than I could chew. Plus, I was out of state. Slow is fast.

0 Votes

All Forum Posts by: Michael Ohara

Michael Ohara has started 18 posts and replied 298 times.

Post: Taking the big leap....BRRRR

Post: Anyone who is doing long distance investing?

Post: Anyone who is doing long distance investing?

Post: Cleveland Ohio investors! Let’s connect

Post: Anyone who is doing long distance investing?

Post: Anyone who is doing long distance investing?

Post: Anyone who is doing long distance investing?

Post: How to approach a Cash Buyer?

Post: should i buy a apartment complex first? or single/duplex homes?

Post: should i buy a apartment complex first? or single/duplex homes?