All Forum Posts by: Simon Ashbaugh

Hi BP, I'm looking at a few off-Market deals in Cleveland OH, this will be a new market for me. Does anyone has a seasoned property manager they would recommend as I enter and hopefully grow on that area?

All additional insight s are welcomed and much appreciated

Hey Bernard, depending on the area, I can connect with to my go to PMs. Let's connect.

0 Votes

Cleveland, Ohio

Quote from @Genesis Duncan:

Hi all!

My name is Genesis. I'm not quite new to BP, been lurking in these forums for over a year now, but thought it was time to introduce myself.

I have one SF rental in Portland, Oregon, and am looking to purchase our first out-of-state investment. Specifically interested in buy and hold SF or MF properties with a focus on cash flow.

Currently looking at Iowa: Cedar Rapids/Quad Cities and Ohio: Cleveland/Akron/Dayton. Would love to connect with others to start growing my network.

Looking forward to learning from all of you!

Hey Genesis, since Cashflow is what you're aiming for, Cleveland is the right spot for you. I'd be happy to connect and share my knowledge.

0 Votes

Portland, Oregon

Quote from @Joseph Lawrence:

Thanks! We are interested in long term rentals in Cleveland.

Hey Joseph, welcome to BP! Cleveland is a great city for LTRs. Places like Lakewood, Old Brooklyn, Brooklyn Centre, Edgewater, Jefferson and West Boulevard are some places that'll be good to check out.

1 Vote

New York City, New York

Quote from @Michael Whitman:

Quote from @Simon Ashbaugh:

Hey Michael, welcome to BiggerPockets! It's important to identify your investment goals first. Are you primarily seeking passive income, capital appreciation or a combination of both? Once you've determined your objectives, look for markets preferably close to yours with active job growth, population growth and an economy without too much fluctuation. This will give every chance of a stable rental market as well as property appreciation.

Hi Simon, thanks, I appreciate the insight! At the moment, it's a combination of passive income and capital appreciation. Something that throws off some cash flow and will continue to build equity (either through rental or price appreciation). I like to think I'm numbers savvy, but building a team around me is definitely step 1. The market around me (Southeast Connecticut) is one of the most expensive places to live in the country. While that bodes well for opportunities, the out of pocket cost would be excessively high as well. We're most likely looking at multi-family (initially) in lower cost of living regions simply to make it affordable for us to get into the game. That vision could change, but that's where our heads are at currently.

You're welcome! If investing locally doesn't really make sense at the moment, you should consider expanding your horizons to out-of-state markets. The Midwest, in particular offers some really promising opportunities. Columbus OH for example is a popular choice, with the city experiencing impressive property appreciation surpassing the national average. Plus, Ohio's landlord-friendly reputation really boosts its overall appeal. I would recommend that you give this a read Core 4 to Real Estate investing before doing out-of-state investing. Hope this helps!

2 Votes

Hey Sean, Ken McElroy's "The ABCs of Real Estate Investing" is a valuable tool for anyone interested in learning about the fundamentals of real estate investment. The book provides practical advice and insights, making it a great starting point for beginners. Hope this helps!

3 Votes

Quote from @Joyce A Debrah:

Thank you everyone! This exciting. I am narrowing down my areas for investing. Likely, Indiana, Ohio and/or Missouri to start. I am still doing my research but home to nail that down in the next 30 days. I'd also like to consider Peoria, IL but I understand that IL is not as landlord friendly as the other states I mentioned.

What are 3 words of wisdom you'd offer in terms of preparing to be an Out of State investor?

Hey Joyce, welcome to BiggerPockets! I'd say first, figure out what kind of investing you're into and make sure that the market you choose supports it. Do a thorough research, make sure you understand how the market works and build a solid team from lenders, contractors, PM and realtor. This article will be helpful: https://www.biggerpockets.com/blog/core-four-real-estate-tea...

Feel free to reach out if you have any questions.

2 Votes

Chicago, Illinois

Quote from @Miguelli Fernandez:

Southern California based but looking into buying SF or MF in Cleveland. Have multiple local lender options but considering the lender my agent is recommending. Aside from the lender being vetted by the agent already, are there any other positives or negatives to using a lender in the market im looking into?

Hey Miguelli, adding to what others have already mentioned, local lenders know the ins and outs of the market like the back of their hands. They've got their fingers on the pulse of what's happening, so they can hook you up with loan programs that might be perfect for your specific situation. Hope this helps!

1 Vote

Cleveland, Ohio

Quote from @Jerome Davis:

Hello Community!

Excited to connect with fellow RE Investors. Live in the Cleveland, OH Area, but, I go wherever the deal takes me.

Hey Jerome, welcome to BiggerPockets! Cleveland is a great area if your primary objective is to cash flow. If you're into long term buy and hold to target appreciation, Columbus is another market you can check out. The city has attracted substantial investments from companies like Intel, Google, Honda and more driving job growth, increasing housing demand and boosting property values. If you wish to know more, feel free to reach out. All the best!

4 Votes

Cleveland, Ohio

Hey Hollis, welcome to BiggerPockets! Don't let analysis paralysis hold you back. Once you've done your research and chosen a market, take action. Attend local REI networking groups and meetups and connect with people in the industry. Start with a strategy that aligns with your goals and risk tolerance. Even small steps can lead to a profitable real estate journey. Don't hesitate to ask questions. All the best!

1 Vote

Baton Rouge, Louisiana

All Forum Posts by: Simon Ashbaugh

Simon Ashbaugh has started 0 posts and replied 841 times.

Post: Boots on the ground

Post: Newbie out of state investor looking to build network!

Post: New Members and Excited

Post: New to real estate investing, looking to build connections

Post: What would be your recommendations for learning material to someone starting out?

Post: New to real estate investing, looking to build connections

Post: Hello and looking forward to this experience

Post: Brand New Investor looking for Lender

Post: Quad+ RE Investor

Post: Thinking about getting started in Real Estate investing