All Forum Posts by: Min Zhang

I’ve seen many new investors struggle with when they’re building out their Core Four team. The best approach starting out is to interview a couple of agents and get a feel for how they work specifically with investors. Not every agent is investor-friendly, and you’ll notice that quickly once you start asking about deal analysis, off-market opportunities, or cap rates. 

That said, once you find someone who really aligns with your goals and you feel confident in their expertise, I do recommend building a strong relationship and being loyal to that agent. Agents often go the extra mile for their investor clients when there’s mutual trust and consistency. Investor focused agents share pocket listings and refers solid lenders, contractors, and property managers. Best of luck on your journey and hoping you find the right one for you Bruce!

Hey Frank, welcome to the community! Starting with a single-family or 2-4 units is a solid way to get going. There are tons of good markets out there, but it’s important to do your homework and figure out which one fits your strategy. One thing that really helped me was connecting with other investors – you get the inside scoop on what’s working and what’s not! Happy to share my experience. Best of luck on your journey!

Hey Lara! It is a requirement in some areas in Cuyahoga County for property owners to have their property inspected before they sell it. The POS inspection ensures that the property complies with local building and safety codes. If the property has any violations, the seller must correct them before the sale can be completed or buyer to assume these violations and correct it after closing. It’s a way for the city to ensure that homes are safe and up to code before changing hands. Hope this helps!

Hey Chris! With STRs, I'd recommend diving into one market at a time. There's a lot of data out there, but too much can be paralyzing. Start with the basics: market demand, average nightly rates, occupancy rates, and local regulations. Some markets are more STR-friendly than others, so make sure you research city ordinances to avoid any surprises. It's also important to factor in all costs beyond just the rent. Items like utilities, cleaning fees, insurance, and platform fees can add up. A lot of people make the mistake of only focusing on the potential income and forgetting about the operational side of managing an STR.

For LTR, I’d suggest focusing more on narrowing down your criteria. Instead of trying to analyze every potential deal to perfection, set a specific goal and narrow your search to just a few markets that meet that criteria. Since you've been researching LTRs, I'd recommend continuing to build a strong foundation with those and then considering short-term rentals once you're comfortable. You can use rentometer or zillow to estimate potential market rent to get started. Best of luck on your search!

@Bryon Gill I recommend starting to network with other investors. Connecting with people in the real estate world was a game-changer for me. Talking with others and learning from their experiences through local meetups or online groups has been incredibly helpful. It also opens doors to opportunities you might not find on your own. Plus, it’s great to have a group of people to lean on when you have questions or need advice.

I’m really excited for you to start this journey, and I know you’re going to do great things! Best of luck!

Welcome, Luz! A great way to start is by attending local networking events and connecting with other investors. My first investment was a house hack, but my first value-add deal was with my mentor, whom I met at a networking event. You'll learn a ton about what works for others and what doesn’t, and it’s a fantastic way to build relationships that can help you grow in this field. Good luck on your real estate journey! Just remember, it’s all about learning and taking action!

Welcome to the community, Estefania! Where are you thinking about getting started? If you're into flipping houses, I'd recommend starting locally. It makes it easier to manage things hands-on, stay on top of progress, and get to know the local market inside and out.

If you're interested in other markets, I’d suggest starting with a turnkey property while you build your team and get a feel for the area. That way, you can dip your toes in without too much risk, and once you're comfortable, you can start scaling your investments. Best of luck and I'm excited to see you grow!

Welcome to the community @Barak Ben israel. I recommend you start with a turnkey rental just to get your feet wet in the market and the team you work with. Once you have that experience, and knowledge, you can get into more complicated rehab projects.  If you're really into value add deals, I highly recommend do it locally so that you can personally oversee the rehabs, stay updated on the progress, and make quicker decisions to keep the project moving forward. 

Also, you need to start taking action. Even if you don’t have a deal under your belt yet, taking small steps can really help you build momentum. Maybe attend a local networking event, connect with a mentor, or start looking at deals to get a feel for what’s out there. It’ll help you gain confidence and experience as you go. Hope that helps, and good luck. I'm excited to see where you go from here!

All rental units in Cleveland must comply with the city’s lead-safe ordinance. If there are any lead hazards, they must be fixed, and a lead-safe certificate must be issued. It is one of the City's requirement for Rental registration application. Here's a reference from the City's website:

https://www.clevelandohio.gov/city-hall/departments/building...

Hope this helps!

Make sure you're not over-leveraged and have some cash set aside for things that might pop up, like repairs or if the property sits vacant for a while. Also, figure out what your goal is. Do you want steady rent income (cash flow) or are you hoping the property value goes up over time (appreciation)?

You’ll also want to know the local market. Check out property prices, trends, and any big changes happening in the area. And make sure you have a good team, like an agent, property manager, and contractor, to help you along the way. Best of luck on your journey Malakye!