All Forum Posts by: Nicholas Misch

Wow, no offense but if your feeling this way you may want to choose another line of work. Let's possibly talk about the intuitional hedge funds that are backed by billions that buy up homes by the dozen at whatever price because they can, before we worry about the average STR (which is still primarily owned by the little guy's and girl's) and other rental owners.

I feel like not many of the people who I know in Cleveland that do them are on here strangely. We are just setting up our first one so we are still learning as far as the STR strategy.

 Hey Caden, It definitely sounds like some type of commercial loan would be necessary, however many products are available and could very a lot depending on your financial situation and details of the property. I would definitely talk to a great lender and they can really give you your best options. @Tristan Pearrow is here on PB and may be a great resource. 

Deets

 Cleveland is a great location when it comes to hospitals as we have the world renown Cleveland Clinic, and University Hospitals!

Hey Kiernan, A solid lease agreement is a solid lease agreement regardless of what city you are investing in. Cleveland is not really that different, if you have all the proper verbiage in the lease, then you should be as safe as possible. BP has lawyer approved lease agreements for each state.  

Hey Adly. I just sent you a message with a good PM in the Akron / Canton area. 

There are services available that can get you pre-foreclosure and probate lists. 

MLS deals are still possible (bought my current BRRRR in Cleveland this year from the MLS), however at the moment it is the area with the least. Wholesalers are a good source as long as you vet them as well as possible, and be sure your still getting a good deal with their fee. The best way as stated by a few people is hunt for the deals yourself. Call owners and send mailers. These deals will have the most chance for the most "meat on the bone" and profit.

I haven't done a flip at a distance, and I believe it can be done successfully as I know people who do, however I know it also comes with some added challenges, on top of the ones that inherently come with flipping. I believe flips can be done almost anywhere, though its a matter of can one afford to flip in their location, where doing a distance flip, like say a great affordable city like Cleveland or Akron, would be the perfect opportunity to get started if done right.