Investing outside of CA

[Ralph Roberts]

Hello BP!

I am new to BP community and RE investing and eager to get started in acquiring rentals out of state in the Columbus, OH or Indianapolis, IN areas.  I am educating myself daily on resources and tools offered by BP.  As many have stated, although possible, it is far too expensive for me to invest here in CA.  

Any feedback on these areas is appreciated!

Thanks

[Isaac Beane]

Hi Ralph, 

Columbus, Ohio is a great market to invest in. Let me know if we can help you in any way.

[Trent Ecklar]

Good evening Ralph, 

I am a native of Columbus Ohio. I have invested in properties in California, Chicago, New York City and Columbus Ohio. Building a local team is important, always happy to assist.

[Robert Ellis]

Originally posted by @Ralph Roberts:

Hello BP!

I am new to BP community and RE investing and eager to get started in acquiring rentals out of state in the Columbus, OH or Indianapolis, IN areas.  I am educating myself daily on resources and tools offered by BP.  As many have stated, although possible, it is far too expensive for me to invest here in CA.  

Any feedback on these areas is appreciated!

Thanks

 A lot of out of state investors want turnkey right now but I can tell you with the right property manager you can buy significantly below market if you are willing to put a little bit of money into the property and keep some of that equity yourself. I look every day and there are deals even on the market that people pass on because they don't have the experience. That's at least how columbus is. 

[Mihir Bhimaraju]

@Ralph Roberts Columbus and Indy are two really good markets in the midwest. There are quite a few discussions about the indy market in the forums here. I'm sure you'll find tons of information. I do recommend taking a weekend trip down to midwest and drive to INdy and Columbus and see what you like the best. No matter which market you end up choosing, I can't stress enough to take a trip down here to meet your team and get a feel for them. I invest in Indy so my knowledge is limited to my market. Feel free to reach out when you decide. Good luck!

[Mike D'Arrigo]

@Ralph Roberts I know Columbus at a macro level. It has a strong, diverse economy but I don't know it at the ground level and what the cash flow would look like. I know Indianapolis much better and can tell you that it is a strong cash flow market. We've been active there for several years now.

[Robert Ellis]

Originally posted by @Mike D'Arrigo:

@Ralph Roberts I know Columbus at a macro level. It has a strong, diverse economy but I don't know it at the ground level and what the cash flow would look like. I know Indianapolis much better and can tell you that it is a strong cash flow market. We've been active there for several years now.

 Numbers can be all over the board. You can buy an airbnb property in the short north close to urban columbus and you can buy a 75k duplex that rents for 600 per side. depends on the person and how much capital they have and what their goals are. 

[Paul Burke]

Great thread.    @Mike D'Arrigo A couple quick questions....I'm in several markets in the mid-west/mid-south and have been looking to get into Indy for some time but can't seem to crack it...even though I've been there numerous times and have family there.  Three major obstacles...One is identifying target neighborhoods.  Where are folks buying at now for C/B SF  cash flow? It's a large market and I want to focus on 2-3 target areas.     

The other is tax rate.   Is it just me, or is the tax rate prohibitive to others as well?   It seems to be high...2% without the homestead exemption.   Third is team...who are the best PM's out there?  What's the secret sauce in that market? Would love some help with this riddle as it's been a head-scratcher for me!

[Jeb Brilliant]

Hi @Ralph Roberts, I've been investing in Indy for a while now, if you have any questions feel free to DM me and we can talk. I don't have anything to pitch you so I have a pretty unbiased opinion.