All Forum Posts by: Miguel Suarez

NE Ohio is a good market, with many opportunities with the right agent/ Property manager. I suggest looking into KMLK Property Management; you won't be disappointed; they are the best at what they do.  

Hi @Miguel Suarez,
I have started my out-of-state real estate journey in Indianapolis. Now, I have a portfolio of long-term rentals and STRs. I've also helped other investors with their DSCR loans and flip projects. Happy to share my experiences and chat with you more if you're interested

Hi Miguel, Regardless where you buy, what is your strategy for financing it? I'm a lender in Roseville, California but I can help with investment loans in any state (e.g., DSCR, fix and flips, bridge loans). I'd love to go over options that would work best for you. I work at American Pacific Mortgage but I can also broker if needed. Thanks!

I bought my first investment property in Cleveland just about a year ago... more specifically, in Clark-Fulton, which recently had and is still having money pouring in. It's currently a C- area but it's projected to improve in the coming years. In the meantime, the cashflow is good.

Quote from @Miguel Suarez:

Hi everyone,

I am new to this forum. I have listened to Bigger Pockets for quite some time now and finally decided to get on here because I current own a home in California, but I want to buy a 2nd house out of state. I was thinking Arkansas, Ohio, Indiana, or Michigan. If anyone else has suggestions on states they have rental properties and is working well, please let me know. I would like to start buying a rental property in early 2024. I just wanted to get started to choose a state, starting looking at it more and hopefully start to talk to get approved for a loan and start to talk to a real estate agent. 

Thanks,
Miguel Suarez

You should consider investing OOS here in Columbus or Cincinnati. The price to rent ratio makes for great investments. Not to mention our appreciation has been 8% higher than the US national average, because of the high demand for affordable housing.

You should checkout ohiorem.com and watch the videos on why ohio is one of the best markets to invest in, in the states. One of which reasons is the insane appreciation and population growth.

Quote from @Miguel Suarez:

Hi everyone,

I am new to this forum. I have listened to Bigger Pockets for quite some time now and finally decided to get on here because I current own a home in California, but I want to buy a 2nd house out of state. I was thinking Arkansas, Ohio, Indiana, or Michigan. If anyone else has suggestions on states they have rental properties and is working well, please let me know. I would like to start buying a rental property in early 2024. I just wanted to get started to choose a state, starting looking at it more and hopefully start to talk to get approved for a loan and start to talk to a real estate agent. 

Thanks,
Miguel Suarez

There are good options across the US. Find cities with big enough populations to support rentals. Look at rent prices vs purchase price, don’t worry about the 1% 2% “rules”. Run the numbers including everything! Good luck 🍀 

Where you can have a team you can count on.

I'm in Erie PA right between Cleveland , Pittsburgh and Buffalo if any one wants to connect I'm open to networking and working together.

@Miguel Suarez

I live in CA but invest in North Carolina (Raleigh-Durham, Greensboro, Fayetteville). It’s a great out of state market with a ton of strategies at play. Still plenty of pockets that cash flow with nice appreciation potential. NC has been great to me - and I love visiting!

Quote from @Quinton Thomas:

Quote from @Travis Biziorek:

Hey Miguel, I'm also in California but my rental portfolio is in Detroit (12-doors). 

I'm a big advocate of that market and still believe it offers the best risk-adjusted returns today.

Lots of folks are still writing off Detroit but more and more are waking up to the opportunity there. The city is undergoing massive revitalization and investment

 In Detroit, are there certain areas that are more attractive than others. Also, do you use government programs? while looking though listing's a good majority of the homes seem like they would be cash buy's since after the down payment it would be under the threshold of what banks would take as a minimum loan amount. 

 Yes, absolutely there are plenty of areas that are more attractive than others. The city is extremely block-by-block and difficult to analyze unless you understand the landscape.

I have some tenants on government programs, yes, but not most.

Detroit is a cash heavy market for sure. I don't recommend buying stuff under $50k just because you'll likely be buying a D Class area. But if you can get to the $70k-$90k range on a SFH (my bread and butter right now) you can generally get a conventional loan on that.

You likely need to pay cash upfront though for the better deals. 

Quote from @Miguel Suarez:

Hi everyone,

I am new to this forum. I have listened to Bigger Pockets for quite some time now and finally decided to get on here because I current own a home in California, but I want to buy a 2nd house out of state. I was thinking Arkansas, Ohio, Indiana, or Michigan. If anyone else has suggestions on states they have rental properties and is working well, please let me know. I would like to start buying a rental property in early 2024. I just wanted to get started to choose a state, starting looking at it more and hopefully start to talk to get approved for a loan and start to talk to a real estate agent. 

Thanks,
Miguel Suarez

I'd suggest that it be within a day's driving distance. There are so many things that can wrong with properties over time, that I would think since you are betting the future on your investments you'd want to mitigate risk.