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All Forum Posts by: Zachary Luchs

Zachary Luchs has started 5 posts and replied 11 times.

Post: Building a team for the Cleveland/Columbus/Akron area

Zachary Luchs
Posted
  • Posts 11
  • Votes 10
Quote from @Jimmy Lieu:
Quote from @Zachary Luchs:

Hi, I am new to real estate investing and have narrowed down my markets to the Cleveland, Columbus and Akron. I am an OOS investor and looking for a team to help with my investments. I am looking for a property manager/management firm (ideally a firm that handles properties in all three cities so I can expand in the future) and a real estate agent that also deal with real estate investing (I need them to be able to understand/perform property analysis and not just throw every single listing at me). Please let me know if you have contacts/worked with people in the area in the past or if you your self are one of these. I would love to connect and talk about our goals and possibly making some deals. Thank you so much!

Hi Zach! Welcome to the Ohio market. I personally like Columbus Ohio more than the other two markets because Columbus is by far the fastest growing market in terms of population growth, job growth, and companies moving/developing there. The other two cities aren't really growing and are actually losing population. For me as an investor, I like investing in cities that are blowing up in terms of growth and appreciation. Look at Intel headquarters, Google, FB, Amazon, Nationwide, Honda, etc. Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!). Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k! Happy to connect and answer any questions you have!

Hi Jimmy, thank you for the insight! That was my thought exactly, Columbus is definitely my top choice out of the three markets I mentioned. 

Post: Building a team for the Cleveland/Columbus/Akron area

Zachary Luchs
Posted
  • Posts 11
  • Votes 10
Quote from @Nicholas L.:

@Zachary Luchs

understood, but i consider 'local' to be up to 2-3 hours out.  that way you can still go to meetups, visit properties in person, network, build relationships, etc.  why look at Ohio when you have, for example, the lehigh valley in PA not even 2 hours away?


 To be honest, I was primarily looking in the more mid west area (primarily red states) due to the rental laws being more landlord friendly. However, I am open to looking at other markets too. Do you suggest lehigh valley? Do you personally invest there? 

Post: Building a team for the Cleveland/Columbus/Akron area

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

@James Wise 

Hi James, thank you so much for the advice. I will definitely be giving that a read!

Post: Building a team for the Cleveland/Columbus/Akron area

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

@Nicholas L. 

That will be tough for me, I am in NYC and it is just too far outside my budget. I was also looking at Buffalo but that would also be an OOS situation. 

Post: Building a team for the Cleveland/Columbus/Akron area

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

@Nicholas L.

Hi Nicholas,

Thank you so much for the response. Not discouraging at all, always happy for all the help/knlowedge I can get being that I am just starting out. 

To answer your question, I realize it will be a difficult journey being OOS but I am definitely available to travle to Ohio for a long weekend to meet and connect with agents and managers. 

In regards to the listings, I mistated what my intentions are in the beginning. I am fully capable of performing the analysis my self and have been doing them for the past month to determine my market. It was more of the matter of having an agent who knows investing so they know the little things I would need to watch out for in a deal and if they see a new listing, they can see just by looking at the price and area if it is worth my time to perform the analysis. And if it is they can let me know and I will perform it my self. 

Curious why you had landed on PA for your market?  If you dont mind sharing that would be much appreciated? Are you also OOS? Are you originally from PA? 

Thank you again for the response and your help!

Post: Building a team for the Cleveland/Columbus/Akron area

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

Hi, I am new to real estate investing and have narrowed down my markets to the Cleveland, Columbus and Akron. I am an OOS investor and looking for a team to help with my investments. I am looking for a property manager/management firm (ideally a firm that handles properties in all three cities so I can expand in the future) and a real estate agent that also deal with real estate investing (I need them to be able to understand/perform property analysis and not just throw every single listing at me). Please let me know if you have contacts/worked with people in the area in the past or if you your self are one of these. I would love to connect and talk about our goals and possibly making some deals. Thank you so much!

Post: Ideal real estate market lately?

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

I am merely just testing the waters to see where everyone is investing. This can be past investment locations, current locations, or even future locations that yiu are persuing. I am currently looking at Clevenland, OH as well as Montgomery, AL and Buffalo, NY. Also any additional information of why you are interested in a certian location would be much appreciated.

Post: What is the first step after finding a property where the calculations work?

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

I am new to real estate investing and I do not know where to start. To clarify, I am looking to be a long distance investor. Given this I know I will need a property managner/property management firm at some point. Do I start there? Do I start by contacting a real estate agent? Should I already have a property manager on stand by once I find a market that works for me? Any advice on what your first were when investing would be much appreciated.

Post: What is the first step after finding a property where the calculations work?

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

I am new to real estate investing and I do not know where to start. To clarify, I am looking to be a long distance investor. Given this I know I will need a property managner/property management firm at some point. Do I start there? Do I start by contacting a real estate agent? Should I already have a property manager on stand by once I find a market that works for me? Any advice on what your first were when investing would be much appreciated.

Post: My house needs to be owner-occupied in order to rent the 2nd unit? (Long Island, NY)

Zachary Luchs
Posted
  • Posts 11
  • Votes 10

A thought would maybe be to sell the property to a significant other or family member as a multi-family and then jointly run the property. I am not sure if this would be allowed as you stated it was originally built as a single family, but if it is sold as a "duplex" it now might be considered a multi family after the sale. I would suggest talking to someone who has more experience in real estate law to confirm this theory.