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Looking to Start Investing in Ohio or PA.
Hi All - I live in New York and looking to start investing in Ohio or PA. Just wondering, what areas are recommended based on experience and any advice that you can offer?
Also, is the only way to invest in other states by hiring a property manager, since its not possible to be there physically?
Thanks!!
Naseema
I am a broker in Michigan and Ohio. I am also a very seasoned investor in both states.
If you are looking to invest in Michigan I would recommend Lansing (area) before Detroit. But I liquidated all of my assets as well as my investors assets a long time ago in Michigan and moved us all to investing in Toledo area. I am not an expert on Cleveland or Columbus but I will strongly recommend you visit the cities you may be interested in and tour the local market with a Broker/Agent that specializes in rentals. Cincinnati has an amazing network through Venna Jones Cox real estate group so that would be a good place to check out also. For my investors and myself, we stay in Toledo because there are so many opportunities here. But really do your research on building your team. We have a lot of investors leaving the Cleveland area and coming to Toledo because of code compliance and difficulty with management companies. It is a big city. We have some of the same issues with management here but there are a few good ones if you do your proper research. My best advise is to make sure your team has an acquisition specialist that knows the areas and which ones produce the best cash flow. Just because they have a real estate license does not mean they know anything about purchasing good investments. Hit me up if you want to take a look in the Toledo area! We are always hoping to have good investors come to Toledo. But where ever you are going to invest. Take the money and buy a plane ticket and go look at where your money is going. Be involved with your management company and realtor until you completely feel comfortable. There is a lot of big talk in this business.
Hi, Naseema,
I agree with Angela. Michigan has several great areas to invest with both positive appreciation and monthly cash flow. I currently own properties in Metro Detroit, Grand Rapids, and Kalamazoo. If you would ever like to chat about the real estate market in Michigan feel free to reach out. I am always happy to chat with fellow investors. Good Luck with your real estate journey!
- Real Estate Agent
- Cincinnati, OH
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Quote from @Naseema Subrati:
Hi All - I live in New York and looking to start investing in Ohio or PA. Just wondering, what areas are recommended based on experience and any advice that you can offer?
Also, is the only way to invest in other states by hiring a property manager, since its not possible to be there physically?Thanks!!
Naseema
Greater Cincinnati is doing pretty good right now
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
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Quote from @Naseema Subrati:
Hi All - I live in New York and looking to start investing in Ohio or PA. Just wondering, what areas are recommended based on experience and any advice that you can offer?
Also, is the only way to invest in other states by hiring a property manager, since its not possible to be there physically?Thanks!!
Naseema
You want to be in a landlord friendly state. Ohio is red, PA is blue....The answer is clear where you'll be better off investing.
Hi @Naseema Subrati, I know I'm a little late to the party here but the Philly metro is a great area to get involved in, tons of opportunity ranging from 50k-1 million+ SFH, multi unit, development opportunities. Really whatever you can imagine it can deliver. Now I could write a whole book on the differences in neighborhoods of Philadelphia but the suburbs are as hot of a market as ever right now. Most homes selling over asking in under a week on market with rentals being scoped up in the same timeframe. Happy to point you in the right direction!