All Forum Posts by: Mitchell Litam

Jeff you're being modest, I heard it was a 70 car pile up :/ Hope everyone was alright. We had slight flurries for maybe 20 mins today.

Lakewood is an awesome place to invest but it seems right now the prices are waaaaay too high so I'll just wait patiently to jump on a gem.

Willoughby is not the worst area. I consider that the Lakewood of the east side the couples times I was out there.

Nice to meet you. I hope we both find something soon.

@James Wise Thank you!

Also well done on establishing such a prominent company in our community.

I look forward to listening to your podcast on BP.

wow very interesting area to invest in! I am a West Sider of Cleveland. West siders dont typically go to the East and the East dont come to the West. We joke you need a passport to get to the other side. That is a very nice area though. Why did you pick the Cleveland area? I am curious

Well off to go see more properties now!

@Kristopher Hanks Thanks for the welcome!

Where in the Cleveland market have you invested? How has it been for you? Lucrative I hope :)

Hello people!

My name is Mitchell and I am a newbie from the Lakewood, OH area and hoping to invest in the same area!

I started in real  estate by buying a duplex with a friend/business partner of mine. I was house hacking before I even knew what it was! It always intrigued me for someone else to pay for your own mortgage while you get to live in it yourself!

I work in an industry completely unrelated to real estate but work many hours and hope to get out of the rat race with financial freedom. I grew up in the Westlake area going to local schools and went out to cincy for college at Xavier University. A guy I work with has about 9 properties and always jokes to me that his clients bought him a new car and is paying for his vacations. I know it takes a long time but I figured the younger I am the better off I would become. I also work with another guy who lost his butt and went bankrupt from real estate. I am hoping to be more with the first guy and establish residual income.

I listen to podcasts on my way to work every morning and it really pumps me up! My business partner quit his job and started a pizza shop so I am all on my own to invest in rental properties. In truth he did most of the calculations so I feel like I am starting a new and worried I am going to make a mistake. I am welcome to all advice and looking towards the buy and hold strategy. I look at houses every week and am hoping to make a deal soon. I keep getting outbid cause I just found out Cleveland is one of the best markets. Grrreeeeaaaaat more competition. 

Bigger pockets has already been so much help and connections I have made have led to great leads and lenders. I know this thread has been all over the place but thats me! 

Also if anyone is from the Cleveland market do we have an unofficial meetup for people? I love picking peoples brains and gaining every bit of knowledge I can from newbies and veterans alike!

Have a great day everyone!

@Cary F. Never even heard of it.

You are helping me more than you know.

I will definitely contact you for your use of resources and sincerely appreciate everything.

In terms of your lender portfolio. The only bank I am aware of that does investment properties is First Federal Lakewood.

Where do you go?

Cary Ferguson Jr The thing that scares me is I have no rehab experience. I need to work on estimating costs of hardwood floors or kitchen renovations. Do you typically do them yourself or hire people? I work about 65+ hours and Saturdays.

Cary Ferguson Jr What are some of the steps you would take to increase the rent from $600 to $800? As said before I am house hacking but a tenant came with it. Is it as easy as buying the property and making them sign new leases with the new rate? Also would that be worth it with the possibility of them leaving? I am completely new to this so any advice would be helpful. Still reading articles on real estate but haven't gotten to the landlord part. Thanks for your advice in advance

Cary Ferguson Jr what parts of Lakewood do you think are the best? Im house hacking now looking for my second deal but failing to find any positive cash flow that I think is worth my time. I'm seeing nice houses but the rents are only $600 for a side and it just doesn't make sense