All Forum Posts by: Ryan Beam

I’m vaccinated and up for an in person meetup. With the weather getting nicer there are a lot of patio options or even places like parks. 

North Collinwood has little pockets that are trying to revitalize. Search for Beachland Ballroom on Waterloo on Google Maps and you'll see a couple block area where there has been some investment. My main concern for that area would be what impact COVID has had on the entertainment venues since they're really anchoring the revitalization attempt.

The last couple months we’ve held an Akron virtual meetup. You can follow the planning at https://www.biggerpockets.com/.... I’d love to find some additional network opportunities as well. 

For the non-business credit, there's a 10% credit on properties that are residential use (non-commercial use). The credit applies to leased residential property and properties owned by an LLC as long as the primary use of the property is for residential purposes. There are other discounts for owner occupied properties (2.5%) and the homestead exemption (up to $25,000 in real value) that would not apply to non-owner occupied real estate, so if you see a property that has either of those deductions you'd need to add them back in to the property tax bill to get a good idea what you'd owe.

Look forward to seeing everyone tonight. I'm excited to learn more about the self directed IRAs. Thank you Charlsi for organizing tonight's meetup!

This seems like a popular topic lately. We're actually having a self directed IRA firm our our Akron, Ohio investor meetup Zoom call tonight to educate us on this very topic.

Some of those are pretty far from Cleveland (over 100 miles) and would be entirely different markets, so you may need to find a new team in those cities to manage your properties. I live right between Cleveland and Akron and they're fairly similar markets with a lot of people commuting between them. Are you looking for an entirely different market like Toledo or looking for suburbs of Cleveland vs the city proper? 

I wouldn't necessarily advise against any of the cities you listed, but there will certainly be differences from Cleveland. Mansfield isn't very large and is not a metro area like the other cities. Youngstown is probably the most economically depressed of the cities on the list and while there are deals to be had there, I don't foresee any significant changes to the local economy on the near horizon. Personally I like Toledo as a city. It's not big, but it's also not small. It has some nice areas. If you're looking at secondary markets you may also want to add Canton to your list.

 That would be great!

That would be great, as I'm also open to the investing in the central Ohio market in the future, although I plan to purchase my first property closer to home.

Count me in if we have another Zoom meetup.