Hello from Northern California!

[Vy Le]

Hi everyone!

My name is Vy and I am a new member from Northern California - Bay Area. I have spent the last six months reading and educating myself with books and blogs. I just came across Bigger Pockets about a few months ago and finally decided to introduce myself. I have an investment property in California but I’m looking to invest out of state, specifically in the Cleveland, Ohio area. If you are an out of state investor from the Bay Area I would love to connect with you.

Thanks everyone, I'm looking forward to getting to know you and networking with you!

Have a great week!

[Nicholas L.]

@Vy Le

welcome. i'd read this:

https://www.biggerpockets.com/forums/48/topics/1159104-overl...

it's gotten especially challenging to invest OOS with prices AND interest rates both so high.  a lot of times the numbers in those lower cost areas will look great on paper... and then 10 years of cash flow will get consumed by capex, vacancy, turnover, tax increases.

[Sloane Kraftsow]

Welcome to BP!

[Jessica Larson]

Hi Vy, welcome to the forums! Cleveland is a great place to invest, especially if you're looking for cashflow! There are many desirable neighborhoods that offer a good ROI - I would be happy to share more with you.

[James Wise]

Quote from @Vy Le:

Hi everyone!

My name is Vy and I am a new member from Northern California - Bay Area. I have spent the last six months reading and educating myself with books and blogs. I just came across Bigger Pockets about a few months ago and finally decided to introduce myself. I have an investment property in California but I’m looking to invest out of state, specifically in the Cleveland, Ohio area. If you are an out of state investor from the Bay Area I would love to connect with you.

Thanks everyone, I'm looking forward to getting to know you and networking with you!

Have a great week!

 Cleveland is a tough nut to crack for out of state investors. Before you spend your money here, check out The Ultimate Guide to Grading Cleveland Neighborhoods for a lay of the land. It should really help you avoid a lot of mistakes other out of state investors make here.

[Samuel Diouf]

Hey Vy, welcome to BP! 

Cleveland is a great market for cash-flow! Look into small multifamily 2-4 units. I would stay close to turn-key for your first oos investment. I would happy to discuss more on this.

[Vy Le]

Quote from @Nicholas L.:

@Vy Le

welcome. i'd read this:

https://www.biggerpockets.com/forums/48/topics/1159104-overl...

it's gotten especially challenging to invest OOS with prices AND interest rates both so high.  a lot of times the numbers in those lower cost areas will look great on paper... and then 10 years of cash flow will get consumed by capex, vacancy, turnover, tax increases.

Thank you, Nicholas!  Appreciate the article and insight! 

[Vy Le]

Quote from @Jessica Larson:

Hi Vy, welcome to the forums! Cleveland is a great place to invest, especially if you're looking for cashflow! There are many desirable neighborhoods that offer a good ROI - I would be happy to share more with you.

 Thank you Jessica! I will DM you. 

[Vy Le]

Quote from @Samuel Diouf:

Hey Vy, welcome to BP! 

Cleveland is a great market for cash-flow! Look into small multifamily 2-4 units. I would stay close to turn-key for your first oos investment. I would happy to discuss more on this.

 Hi Samuel! Thanks for the insight.  I heard about turnkey companies including Martell and Rent to Retirement.  I may look into those as someone who is just starting in out-of-state investment, although I think they may have some pros and cons.  Thank you again! 

[Vy Le]

Quote from @James Wise:

Quote from @Vy Le:

Hi everyone!

My name is Vy and I am a new member from Northern California - Bay Area. I have spent the last six months reading and educating myself with books and blogs. I just came across Bigger Pockets about a few months ago and finally decided to introduce myself. I have an investment property in California but I’m looking to invest out of state, specifically in the Cleveland, Ohio area. If you are an out of state investor from the Bay Area I would love to connect with you.

Thanks everyone, I'm looking forward to getting to know you and networking with you!

Have a great week!

 Cleveland is a tough nut to crack for out of state investors. Before you spend your money here, check out The Ultimate Guide to Grading Cleveland Neighborhoods for a lay of the land. It should really help you avoid a lot of mistakes other out of state investors make here.

 Thank you James!! The list is awesome! Have a great day. 

[Vy Le]

Quote from @Sloane Kraftsow:

Welcome to BP!

 Thanks Sloane! 

[Vy Le]

Thank you everyone so much for your warm welcome! I truly appreciate all the valuable insights and recommendations

[Nadeem Alamgir]

Hey Vy, Cleveland Ohio is a great out of state investor market. It's great market to focus on for cash flow and specific pockets have gone upwards of 2-4x in the last 5-10 years.

[Leslie Pappas]

Welcome Vy, sounds like you are doing pretty well with taking all the right steps. This site is great for networking and getting a ton of real estate information. 

There plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country. My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth. It can also be safer to diversify your investment properties across the country. There is still good money to be made in AZ, FL, GA, TX and other states, however, picking the right submarkets is key.

A very good source of local analysis is rereport.com

Best of luck!

[Alfath Ahmed]

Quote from @Vy Le:

Hi everyone!

My name is Vy and I am a new member from Northern California - Bay Area. I have spent the last six months reading and educating myself with books and blogs. I just came across Bigger Pockets about a few months ago and finally decided to introduce myself. I have an investment property in California but I’m looking to invest out of state, specifically in the Cleveland, Ohio area. If you are an out of state investor from the Bay Area I would love to connect with you.

Thanks everyone, I'm looking forward to getting to know you and networking with you!

Have a great week!

 Hi Vy, I work with a ton of out-of-state investors from California. They like investing in Columbus for all of the tech growth over the last 3-5 years. Columbus has companies like Intel, Amazon, and Google investing here. 

There is an opportunity for both cashflow and appreciation here. I made some resources for my out-of-state investors like a neighborhood graded map and contractor rolodex that I can share with you!

[Simon Ashbaugh]

Hey Vy, you've chosen a good time to explore Cleveland's real estate market. The city boasts a strong rental market driven by a growing population which could potentially lead to a steady income. Additionally, with a median home price below the national average, Cleveland offers affordability that may be attractive to some investors.

[Sloane Kraftsow]

Welcome to BP!

[Min Zhang]

Hello Vy, I saw you have mentioned Cleveland, Ohio. I personally love the Cleveland market for its cash flow. I invest heavily in this area as an agent. I grew up on the east side of the town with a well versed knowledge of the neighborhood. I am happy to send you my neighborhood grade map to help you get started. Let me know how I can help!

[Vy Le]

Quote from @Leslie Pappas:

Welcome Vy, sounds like you are doing pretty well with taking all the right steps. This site is great for networking and getting a ton of real estate information. 

There plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country. My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth. It can also be safer to diversify your investment properties across the country. There is still good money to be made in AZ, FL, GA, TX and other states, however, picking the right submarkets is key.

A very good source of local analysis is rereport.com

Best of luck!

 Thank you, Leslie! Appreciate the local analysis website recommendation! 

[Vy Le]

Quote from @Sloane Kraftsow:

Welcome to BP!

 Thank you, Sloane! 

[Marc Rice]

Quote from @Vy Le:

Hi everyone!

My name is Vy and I am a new member from Northern California - Bay Area. I have spent the last six months reading and educating myself with books and blogs. I just came across Bigger Pockets about a few months ago and finally decided to introduce myself. I have an investment property in California but I’m looking to invest out of state, specifically in the Cleveland, Ohio area. If you are an out of state investor from the Bay Area I would love to connect with you.

Thanks everyone, I'm looking forward to getting to know you and networking with you!

Have a great week!

 Cleveland, Dayton, and Columbus are all great markets. I'm not a fan of some of Cleveland's governmental restrictions (point of sale, etc.), but it can be a great market if properly navigated.