All Forum Posts by: Michael Simmonds

Hello BP family,

My wife and I just had an offer accepted on our very first investment property. We are very excited but also very nervous since we are still new to this game and have a lot to learn. The property is a single family home in Cleveland Heights, OH. I am going to have to call and interview some property managers in the area since this is a long distance investment. I was hoping for some advice on choosing a property manager. What kind of questions should I ask? Can anyone from the Cleveland area recommend a reputable property management company? We would greatly appreciate any feedback. Thank you!

Hi @Marshall Hooper It's located in the zip code 76706, so I believe that's considered Oakwoods. Is this an area that you would advise against? We found it through an agent.

Hi Caleb

Thank you very much for the reply. Yes, we are in New York so this is a long distance rental. And yes, it would be a student rental, which was another concern of ours. Since this will be our first investment, our main concern is cash flow. Do you have any recommendations for cities to look further into in this current market?

Hi all,

My wife and I are considering purchasing a rental property in Waco, TX near Baylor University. As we come closer and closer to a closing date, we are beginning to have some concerns and fears since this is our first real estate investment. We did some research on the vacancy rate in Waco and found that it was relatively high which is worrisome. However, we figure since we are purchasing a duplex near the college, it shouldn't be difficult for the management company to maintain a steady flow of tenants. We would greatly appreciate any insight and feedback from anyone with more experience than us in real estate investing. Many articles that we have come across state that Orlando, FL is the best place to invest today. However, when we do our calculations, the property in Waco seems be more profitable in terms of cash flow. Are we missing something about Orlando? Are there certain areas to look out for that will provide us a higher ROI?

Thank you in advance!

Michael Simmonds