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Ohio Vs North Carolina
Hi BP!
I live in California, I am new to real estate and am looking to do some out-of-state investing mostly for cash flow. I am primarily looking for small multi-family and exploring cities in Ohio like Columbus, Dayton, and Cincinnati, as well as the RTP area in North Carolina.
To narrow down my search can you guys please suggest if I should focus more on Ohio or North Carolina?
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- Flipper/Rehabber
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hello. with interest rates and prices high, there basically isn't 'cash flow' anywhere right now. think about it.
when you buy a property you'll have a down payment, closing costs, rent-ready costs, costs to get set up with a PM, a commission to place a tenant... maybe some light repairs after the tenant moves in...
so your first few years after a purchase are typically stabilization, and you investing your money into the property. think about how long it will take to recoup all the costs i just mentioned.
if you want day 1 cash flow... open a savings account.
i say this not to discourage you but to help set expectations.