I Bought a House from My Kitchen Table Today

The rental market in Montana is just not great. House prices are high and rents are low. That's what has inspired my boyfriend, Mike, and I to look for better markets. We started out investing in St. Petersburg, Florida. That market has heated up and the bargain prices we were finding a year or so ago are rarely available. So we've turned our attention to Ohio.

What we like about Columbus, Ohio is that house prices, insurance and taxes are low. I would say it's not a great appreciation play market. It is a great buy-and-hold market, however. Most mornings when we wake up, we look up properties in Columbus. This week, there was an auction of 15 bank-owned properties. We were able to pick up a house with a renter in place for under $25k. Not bad for sitting at my kitchen table.

People ask about buying long distance. Actually, it has been relatively easy. Our first deals we bought through an experienced company that "wholetails." (Basically, they buy wholesale, fix up the properties, find the renters, get the property management set up and sell to investors. It was a great way to get a feel for the market. We have purchased two properties through them.

Recently, we put in an offer on a short sale duplex that is still pending. That one requires some work. But still, it was a heck of a deal. We put in that offer without seeing it as we knew we would have the 7-day inspection period once the bank approved the sale. When I was in the traveling near Columbus, I checked out the area and the house and confirmed that it was a fantastic opportunity.

I've learned a ton by investing out of market. I'm excited to do even more!