Which state / city / area should we put money in now?

[Fei Gao]

hi all:

I'm currently an investor in Chicago, still a newbie, owning two multi-unit properties. I'm looking to purchase my 3rd long-term buy and hold property, but I'm leaning towards looking for somewhere outside Chicago, where do you suggest me to look at ? and how do you manage out of state properties ? there're are so many unknowns to me and I'm at loss on how to start. 

thanks in advance.

[Steven Foster Wilson]

Quote from @Fei Gao:

hi all:

I'm currently an investor in Chicago, still a newbie, owning two multi-unit properties. I'm looking to purchase my 3rd long-term buy and hold property, but I'm leaning towards looking for somewhere outside Chicago, where do you suggest me to look at ? and how do you manage out of state properties ? there're are so many unknowns to me and I'm at loss on how to start. 

thanks in advance.

 Hi Fei, 

I recommend the major cities in Ohio:

-Columbus, great for appreciation, pp is a bit higher around $220k for multifamily https://learn.roofstock.com/blog/columbus-oh-real-estate-market

-Cincinnati, has a mix of cash flow and appreciation, with average multifamily around $180k. https://www.noradarealestate.com/blog/cincinnati-real-estate-market/

-Cleveland, has a lot of cash flow potential, average multiform around $140k. https://learn.roofstock.com/blog/cleveland-real-estate-market

There are other smaller markets like Dayton, Akron, and Newark, which we are starting to see these areas boom due to huge investors and corporations like Intel choosing to set up shop in these kinds of areas.

Wherever you go though, it is important to get your core 4 in place https://www.biggerpockets.com/.... I even have this with my investments locally. It helps allow you to continue to scale.