Multifamily Newbie - Tips & Feedback (Out of state/Ohio)

[Kendric Buford]

Hi, still new to the forums, please pardon any oddities in my post. I've tried to include relative information, without writing a novel. 

I'm a newer investor looking to get some cashflow. My strategy for the foreseeable future is 'buy and hold' with long-term tenants. I'm fine with doing some minor fixes and improvements to a property: Adding overhead lighting/fans, better flooring, maybe redoing a main bathroom. My current portfolio includes two 3-Bed/2-Bath Single Family's in my home state. I did minor improvements to both of those, but unfortunately had to replace the roof on each (Flat roofs suck, lesson learned). I have $60k-$100k that I'm willing to deploy, and do some learning with. I also have ~$20k that I've resigned for the scripted "mishap" that always comes up after purchase...lol

I've read a number of other threads and I've seen a fair amount of talk about Ohio. While that is pretty far from me, the prices there are far more manageable than my current state and would let me deploy my capital a bit better. I'd love to hear some more savvy investor's thoughts on Ohio, or a similar market. Normally, my preference would be a Duplex for ease of learning, but after looking at the price point in a place like Cleveland, I theoretically could purchase two Single Family's there. Thanks in advance for your time.

[Eric Gerakos]

Kendrick, keep in mind that real estate pricing is determined by desirability . Property in Ohio is cheaper than where you live because it’s less desirable and will always attract less desirable tenants with higher maintenance and more evictions. Having fewer but better properties will be more profitable in the long run. Collect money, not properties.