All Forum Posts by: Simon Ashbaugh

Hey Donnie, any particular location that's caught your eye so far? There are a few sites that would be ideal for you to use. Zillow is great for overall market trends, neighborhood comparisons, and estimated home values. Redfin offers comprehensive data and reports with unique insights like demographics, commute times, and school ratings and Realtor.com is excellent for filtering by specific criteria like market, property type, and budget. Their user-friendly interface makes it easy to narrow down your search, you should give those a try first. Hope this helps!

 I'd recommend asking an attorney, but here in ohio I usually say something along the lines of - Contingent on satisfactory review of lease and tenant ledger

 Hey Aj, you're right about what you think. Trust is essential in this business, especially for out-of-state investors like you.

Connecting with a reliable realtor, lender, and property management company will significantly increase your chances of finding partners you can truly trust. Realtors, for instance have deep knowledge of the market and will mostly have a network of trusted professionals they've built through successful collaborations.

Keeping track of these recommended professionals in a dedicated spreadsheet can make it easier for you to choose the right partner for each project. This way, when investment opportunities arise, you have a readily available pool of reliable partners you can confidently turn to. Building your Core 4 is crucial to ensuring your success. Hope this helps!

Hey Annmarie, it's true that sellers sometimes withhold lease information to protect tenant privacy, I do find it a bit inconvenient not having full visibility before making an offer however, the seller might be concerned about protecting the tenants' privacy. In cases like these, you can structure your offer with contingencies that allow you to back out if the leases or the 90-day notice don't meet your expectations after review.

Hey Brandon, welcome to BiggerPockets! I recommend that you attend your local REI networking groups and meetups to connect with fellow real estate investors. Tune in to the biggerpockets podcast if you haven't done so yet. Seek out a mentor who shares your goals, you can also consult lenders and brokers for advice on finding a suitable mentor. Enhance the mentor-mentee relationship by leveraging your strengths and consider how you can add value.

Building your network requires time and consistency. Be authentic in your interactions, openly share your goals, and don't hesitate to contribute. Remember, relationships are reciprocal, and the more you invest in others, the more likely you'll receive valuable insights and support. All the best!

Figuring out the best price range for a first-time investor isn't a one-size-fits-all situation. It relies on factors like your investment goals, risk tolerance, and timeframe for Investment. The price range will be dictated by these considerations.

I suggest that you first identify a strategy you're willing to take, choose a market that aligns with it and establish your Core 4, especially if you have plans to invest out of state. The main challenge I've observed is that individuals often lack a clear end goal or strategy or they select a market that doesn't align with it.

Setting a well-defined strategy and ensuring your chosen market complements it can significantly enhance your investment journey. This approach helps in avoiding common pitfalls and ensures a more successful investment experience. Hope this helps!

Welcome to the BiggerPockets community Cady! It's great to have someone with your passion and real estate expertise join us on this platform. Feel free to share your insights, inquire and connect with fellow enthusiasts in the real estate community. Best of luck on your journey!

Hey there Jonathan, Cleveland is an excellent choice! The city's strong rental market driven by a growing population ensures a steady income stream to investors. What's the strategy you're aiming for? If you need to find a good neighborhood to start on, let's connect. I'd be happy to help out.

Quote from @AJ Aviles:

Thank you @Nathan Gesner, @Kim Meredith Hampton, @Richard F., and @Simon Ashbaugh again for the advice! I just completed the renovation project (my previous tenant ended up walking) but my new tenant just moved in yesterday for $1,150 per month! 

Total Renovation and Furnishing Cost = just under $13K so I will be able to pay that back in one year. 

I put some before an after pics below:

 That looks very nice AJ! Keep up the great work man.

Hey Ertha, welcome to BiggerPockets! Since you're seeking a reliable income stream, consider checking out Cleveland. It has a strong potential for cash flow and property values are steadily increasing.