Out of State Investing
I have my eye set on a townhouse in South Carolina. Would you purchase with a newly created LLC? If so how do close with no money
2 Rentals Today. 20 Tomorrow. Same $12/month Price. Collect rent, screen tenants, manage maintenance, track finances, measure performance.
Grow with RentRediHow do you guys search for out of state property managers and how do you know they are trustworthy?
Hello, I currently live in California and have decided to invest out-of-state since California seems way too unaffordable. I am inclined to buy multi-family properties, but I'm also open to single-family properties, and I am primarily looking for cash flow. I have been looking at Cleveland, Ohio—...
We manage a lot of properties for owners who don't live here and I'm curious what others are dealing with. Is it finding good tenants, contractors, city notices, or just knowing what's actually going on at the property? What made you happy or unhappy with your PM?
How much does it cost? https://cashflowfinder.ai/ Does it work? Thank you
Hey everyone! I’m a small multifamily investor in the Providence and Pawtucket, RI area, and I’m looking to expand into out-of-state investing, specifically Ohio and the Columbus/Cleveland markets. I’m currently working on learning the Ohio market, understanding which areas offer the best opportu...
Hello everyone! I am investor and I am starting to invest in Toledo, Ohio. My strategy is simple: I prefer to buy cheap houses and make good rental income, even if the neighborhood is not one of the best, like Post Street. I am looking for houses around $50k–$60k that can rent for around $1,000 p...
I’m looking for some advice from experienced investors on choosing my first market. I live in Salt Lake County, Utah. I originally started saving for a down payment on my family’s first single-family home, but as I’ve gotten closer to that goal and started analyzing deals, I’ve realized that $50,...
Poll: have you ever approved a repair you later suspected was unnecessary or overpriced? I own a single-family rental in Kansas City and live in St. Louis, so I rely completely on my property manager. Over the past few years I’ve had a few expensive surprises: A loose deck connection that I was t...
Hello, so im 24 live in NJ with my parents and am debating using the next 2 years of living at home to just save or get started in real estate. Ive looked into all the different strategeys and for my area house hacking doesnt seem to be the best. I landed on out of state single family homes under...
Hi, I'm in my early 20s. Landed a solid SWE job. I have 100k saved up. I live with parents in NYC. Low expenses. I have been in the market for 1 year now. I started looking for Multi fam units in NJ around 550k. Price's increased. Now scarping the pot for SF in CT, NJ, or upstate NY for 450k or l...
More new construction is being sold with a tenant already in place before closing. It removes the biggest unknown for an out-of-state buyer, but only if you check the right things: 1) Who placed the tenant, and how they were screened. Ask for the criteria: income multiple, rental history, credit....
I'm looking to flip or wholesale properties in Binghampton, NY. I'm already working with an agent and he may be able to secure a hard money loan as well as my own funds to purchase it. What are the best resources in terms of reading are there to educate myself in this process?
Out-of-state buyers usually underwrite insurance as one annual premium. On an older Inner Loop house, two policy lines can matter more than the premium. 1) Wind and hail deductible. The Insurance Information Institute puts these at 1% to 5% of insured value, and they can be separate from your reg...
I'm narrowing down the markets I'd like to invest in. Depending on which market i pick the strategies will be long term rental, flip and or BRRRR. As an out of state investor, would it make more sense to form an LLC in the state your profiting in or just pay the foreign entity fees and keep your ...
Hi everyone, I'm 22 and partnered with a contractor in college to owner finance a property that we own 50/50 and are closing on another deal by the end of the month which we will be purchasing in cash again at a 50/50 split. These are both duplexes in Maine, the first property has been fully rent...
Hi everyone! I’m looking to purchase my first rental property in Toledo, Ohio. I’d love to connect with experienced local investors who know the neighborhoods firsthand and can share honest advice about which areas are good investments, which areas to avoid, and how to evaluate a potential deal. ...
My business partner and I own a rental property in the Detroit area through an LLC. We purchased it three years ago, and after our tenant recently moved out, we discovered significant wall damage, likely caused by a water leak. Repairs could cost around $25,000, and unfortunately, we don't curren...
Out-of-state buyers keep asking me if they should self-manage a Houston rental. Most underwrite the PM at "8%" and stop there. In year one the leasing fee is the bigger hit. Published Houston pricing (iPropertyManagement survey of 13 local firms): 1) Monthly fee: 8.3% average for one single-famil...
Friends - I live and have been investing in MA but it is just prohibitive these days so I am looking for a new market. Thinking a lot about Richmond, VA. Hoping for a small multi-family (2-4 units) with a "walk score" of 70 or higher. Anyone reading this who invests there or is an agent there wil...
Hi everyone! After a long sabbatical, I am back to BP forum. I am a new out-of-state investor considering two markets in Ohio - Cleveland or Toledo. Primary goal is to invest in multi-family units. However, I am open to single-family properties as well, if numbers make sense. I would like to get ...
Out-of-state buyers often underwrite off the seller's last tax bill. For a rental in Texas, that bill can be well under what you'll pay, because the seller's homestead exemption doesn't come with the house. HISD is a clean example. Its homestead exemption is $140,000 plus 20% of appraised value, ...
Starting my investor journey in Florida's Polk County. (I live out of state.) Currently building a team to flip or BRRRR. Looking for anyone who knows the area. Good idea? Bad idea? Can't wait to connect. Thanks!
How many markets did you research before pulling the trigger on your first out-of-state deal? For me, the biggest factor is having someone on the ground I trust who can be my point of contact. The numbers have to work, but having a reliable local connection matters more than anything else. That’s...
I see a lot of out-of-state investors looking at Columbus, and I get why: a diverse job base, steady population growth, and a big stock of older 1-4 unit housing. I've invested here for 17 years and work with investor buyers, so here is what I'd check before wiring earnest money from another stat...