All Forum Posts by: Desiree Board

@Desiree Board I’ve been house hacking for almost 30 years now and can’t recommend it enough.

If my spouse wasn’t opposed to moving I would try to buy a new house hack every 12-15 months and use low down payment owner occupied loans for as long as it made sense.

After this advice I feel it is much easier to invest locally where you can become a “market expert” more easily.

I’ve been tempted to look OOS or at other markets farther away from me in my home state but have decided this is just shiny object syndrome. I’ve built a great team, which is imperative, and have systems in place for my local rentals.

The farthest I’ve gone is about 20 miles away from my house which takes me about 30 minutes to get to. I feel the properties 5-15 minutes away are easier.

@Desiree Board Where in OH? Columbus? Cleveland? Cincinnati?

Hi @Desiree Board, welcome to the BP Forum! Those are 2 GREAT questions! I'm sure there will be others with their own (and possibly conflicting) opinions, but for question #1, I always advise my clients to focus on properties in areas that 1) they currently (or previous) live in/near, 2) they travel to frequently, or 3) they have family/friends in the area.

For question #2, the answer is going to depend on what you do for #1. Particularly for your first few properties, I'd highly recommend that you manage the property yourself (if possible), but that's usually only possible (or most effective) if you live near the property or visit it frequently. Not only will it possibly save you a little money, you'll develop skills and figure out the nuances of real estate investing that you can't learn from a computer.

Out of curiosity, what type of properties are you looking to add to your portfolio? SF, 2-4 MF, or 5+ MF? And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?