Real Estate Investing in or outside CA?

[Mohit Gadkari]

Hi All,  Wanted to get an opinion, how is it to invest in Fresno CA or look for other markets outside CA?

I currently rent out in San Diego.

Mohit

[Bradley Buxton]

@Mohit Gadkari

You can make any market work with the right strategy. As with any market you don't live in you'll need to find a good team.  Out of State Reno, NV has good opportunities for appreciation and cash flow potential. Landlord friendly and low property taxes combined with how close it is to CA it makes visiting properties and building a team easier.  Interview lots of agents, property managers, and contractors to get to know the up and coming areas. 

[Samuel Diouf]

There are some great opportunities in the Ohio markets. Many investors from California are choosing to invest in the Midwest because of the low barrier to entry and yearly cash returns making more sense in these lower priced markets. Ohio markets show up 3 times in Zillow’s 2024 hottest markets, with Columbus and Cincinnati taking the top 2 and 3 spots. I moved from Florida to start investing in Columbus because of the same reason.

https://www.zillow.com/learn/hottest-housing-markets-2024/

[Simon Ashbaugh]

Hey Mohit, welcome to BP! Out-of-state investing can be done successfully, but having a team in place in important. Your Core 4 Real Estate team will play a very important role in your success.

As for other markets to check out, it really comes down to what you're aiming for. If you're seeking a reliable income stream, check out Cleveland OH. It has a strong potential for cash flow. On the other hand, if your focus is on appreciation, Columbus is the place to be. The appealing aspect here is the ongoing population growth and other economic factors. All the best!

[Remington Lyman]

Quote from @Mohit Gadkari:

Hi All,  Wanted to get an opinion, how is it to invest in Fresno CA or look for other markets outside CA?

I currently rent out in San Diego.

Mohit

 You should try doing a house hack locally. That is what I did when I first started here in Ohio. Prices are a lot cheap than San Diego, though

[Nicholas Coulter]

@Mohit Gadkari I suggest a house hack locally. Its investing on training wheels. Now SD area isnt cheap so if you arent careful and have the right guidance you might end up buying a crap deal. I would focus on running numbers daily until you see what the best path forward is. HH in SD, Rentals OOS or in Fresno.

Let me know if you have any other questions!

[Jimmy Lieu]

Quote from @Mohit Gadkari:

Hi All,  Wanted to get an opinion, how is it to invest in Fresno CA or look for other markets outside CA?

I currently rent out in San Diego.

Mohit

Hi Mohit, look into markets that have great macroeconomics such as Columbus OH. You can see big companies moving and developing here like Intel, FB, Honda, Google, Amazon, etc, population growth, and job growth! A lot of my clients from California have been successful in finding BRRRR and flip deals here that hit the 1% rule, cashflowing, and will appreciate a great deal within the next few years. You can still find deals here at a very cheap price point around $120k-$180k. Just make sure that when you look at markets outside CA, work with a realtor who is also an investor and can plug you in with their system and network of GCs, PMs, lenders, etc. Happy to connect and answer any questions you may have.

[Mohit Gadkari]

Thanks for all the responses!! I truly appreciate it , learning every day