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All Forum Posts by: Reese Thompson

Reese Thompson has started 8 posts and replied 77 times.

Post: Investor Looking For Real Estate Agents in North East Ohio

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14
Originally posted by @Federico Gutierrez:
Originally posted by @Reese Thompson:

Youngstown is 1 hr 18 min from Cleveland according to Google.  That's not far at all.  Time is only money when you're working for a wage.  When there are deals to be had, you have to be willing to go the distance.  That's why the northeast Ohio time thing is such a problem.  They're not willing to drive an hour and a half, but I can guarantee that they're binge watching the next season of the Walking Dead and they're vacationing their weekends away instead of finding deals.  

So round trip of 2.5hrs. Show a home to an investor whom may or not buy, home may not fit his special formula, finds something that they don't like, cause you always buy the first home you see? so probably want another trip to bring a contractor so thats another 2.5hrs for a second showing. 

I can work the phones for 2.5hrs and get a listing which I know will eventually sell or work on direct mailers. MMMMM which one to choose?

 Because there are no systems there.  It has to be more along the lines, "How do I sell a house in Youngstown?"  By thinking that you have to do all of that as an agent will guarantee that you can't profit off of Youngstown.

And as an investor, what if I drive 5 hours to see a house that makes me 50k?  Doesn't matter because I just made the average American's annual salary.  The deals are where the deals are.

Post: Investor Looking For Real Estate Agents in North East Ohio

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

Youngstown is 1 hr 18 min from Cleveland according to Google.  That's not far at all.  Time is only money when you're working for a wage.  When there are deals to be had, you have to be willing to go the distance.  That's why the northeast Ohio time thing is such a problem.  They're not willing to drive an hour and a half, but I can guarantee that they're binge watching the next season of the Walking Dead and they're vacationing their weekends away instead of finding deals.  

Post: Investor Looking For Real Estate Agents in North East Ohio

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

@Robert Lytle I'm not a flipper either.  Doesn't fit into my current strategy.

Post: Investor Looking For Real Estate Agents in North East Ohio

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

That's kind of the unfortunate curse of most of northeastern Ohio.  Nobody wants to travel for anything.  If you tell someone from Cleveland that something is 20 minutes away, they'll have a heart attack.  To them, Youngstown is too far to touch. 

Post: How to get financing with fluctuating income

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

I'd say you just have to talk to the banks and see what they say.  Don't just talk to one, though.  Different banks may look at it differently.  Don't give up and keep going until you find what you're looking for.

Post: If I had $1,000,000

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

I would pay off personal debts and probably do private lending with the rest.  That would leave me with 2 avenues of cash flow...financial and operational.  I'd keep finding no (& low) money down deals for the operational side.

Post: New to BP Commercial Investor from Columbus, Ohio

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

Welcome, good luck!

Post: Investor Looking For Real Estate Agents in North East Ohio

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

@Robert Lytle

Are you looking more around Warren than Youngstown?  Seems like when you say Youngstown that it can cover a wide variety of surrounding communities as well.  I'd just start calling the different agents you see listing properties you're interested in and kind of "interview" them while asking about the property.  It might take some trial-and-error as well.

Post: Property manager in youngstown, oh

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

@Philip Brown @Craig Montesano @Brent Coombs @Nate Bartow

I haven't used any professional property managers, but I have worked with Geisler and they seem good.  Another one that seems pretty popular to the local area is Demar.

http://demarrentals.com/

I can't personally refer them as I haven't actually used them, so you'll have to do your vetting.

Post: Newbie

Reese ThompsonPosted
  • Investor
  • New Waterford, OH
  • Posts 81
  • Votes 14

Welcome, and good luck!  There's no "best way."  You gotta pick what works for you and do it!