All Forum Posts by: Samuel Diouf

Hey Zachary, I would focus on one market first. Get a solid understanding of the area and build your team and systems there. Then, maybe expand after you've set everything up in the first market, expand to the second and third using the same method. 

Congrats on the first deal! I would start keeping track of everything that you've had/have to do while owning/acquiring this property. Always ask yourself if there's a way to systemize the different tasks you come across. 

The more you can systemize the process, the more time you'll have to work on the next deal or venture.  

Hey Tyran, welcome to BP!

I'd say house-hacking is one of the best ways to get into real estate investing. You’re able to learn the basics of a real estate investment with lower risk and build equity at the same time.

Being able to purchase a property with only 5% down means you can leverage your money way more effectively. When you’re investing with leverage, I think it makes more sense to do it in a market that’s showing plenty of signs for growth.

Welcome to Bigger Pockets Paul!

BP is a great place to learn and connect with fellow investors.

What strategies are you currently using to find deals? 

Hey Christine, have you looked into Ohio markets such as Columbus? A lot of investors based in markets like California and New York are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

Prices in Columbus are still low enough to find 1% rule deals and there's a ton of appreciation happening in this market as well. I actually moved from Florida to Columbus for the real estate. I saw how fast the city was growing and decided to make the jump.

Hey Yianni, I would start with something either turnkey or light value-add, so you can start forming your team with less pressure and risk. Once you feel you've built a strong team with your first property and have solid systems in place, I would then start buying more aggressively and taking on bigger projects.

A lot of OOS investors are having great success with BRRRRs here in Ohio. It is very important to have a solid team and strategy in place, because you’re taking on a lot more risk than a typical rent ready purchase. I like Columbus for BRRRRs because of the mix of cash-flow and appreciation. When doing BRRRRs you may have to leave some money in your deal but you’ll still be able to scale a lot faster than the typical buy & hold strategy.

Cleveland is another market where BRRRRs work. You just need to make sure you hire out the right contractors, as there are a lot of unreliable GCs there.

Hey Ron, I'd be happy to send you some under $100k DSCR lender referrals.

I'd be very cautious with where this deal in particular is located. Turnkey deals in D and F locations can become money pits fast.

Hey Lucas, if you already have built connections and a solid foundation of knowledge in Akron, I would keep building the portfolio there! 

If you don't feel too established there yet, I would look into the Cleveland maerket as well. I like Cleveland because of the huge amount of volume. It makes it easier to scale and build a super team, in my opinion.

When looking for cash flowing markets.. a lot of investors, including myself, are looking in cities like Cleveland.

Cleveland currently has one of the lowest price/rent ratios in the Nation, with the average home price being $107k and the average rent being $1,416/Mo.

When investing in high cash-flow markets, I always recommend working with an investor friendly agent so you're able to gain the right insight on the different areas and the risks involved.