All Forum Posts by: Mike Paolucci

Quote from @Manav Kedia:

Hi, I'm a CA resident new to the RE world and looking for suggestions on what are some good cities/areas to buy good single-family/multi-family homes that generates good cash-flow.

I've been pretty happy with my investments in Columbus, Oh since starting off in 2021 while being born and raised in San Francisco. Some other Ohio markets I'd suggest looking at are Cleveland, Cincinnati and Dayton. 

Happy to connect and share some of my experiences as an OOS investor. 

Quote from @Jesse Leigh:

Hi! Looking to connect with out of state investors in the Los Angeles area. Specifically Columbus investors. Would love to meet for coffee in LA and learn from anyone investing out of state. 

Just sent you a PM. 

Congrats on the duplex @Sean Haran! 

Section 8 is a great way to cashflow these days! I would recommend reaching out to local property managers who specialize in Section 8 Rentals to get a better sense of what timelines are looking like for section 8. Timelines tend to vary depending on CHMA's work load at that point in time. I can send you a couple of referrals.

Quote from @Rahul P.:

Hello everyone, i am based in california bay area. recently bought a house in  Sacramento CA. I am thinking to buy rental property in  Texas denton, Kyle, Buda. 

 Glad to see other investors from CA looking out of state. I'm originally from San Francisco and started off in 2021 doing the same thing but in Ohio. 

Let me know if you have any questions about being an OOS investor. Happy to help out. 

Quote from @Shiwei Qu:

Quote from @Mike Paolucci:

Quote from @Shiwei Qu:

Hello BP community,

Just out of curiosity, if everyone who consider out of state investing has been recommended Ohio market, are there still true opportunities or actually risks? I locate in Bay Area and also consider OOS investing. Thank you for your insight!

Thank you!

 Hi @Shiwei Qu, I'm originally from San Francisco myself and started investing in Ohio back in 2021 before moving to Columbus in 2022. 

Yes, there are still some opportunities, not only in Columbus but other cities as well. As previously mentioned, Columbus has shifted to more of an appreciation type market but there are still some deals that will show some cashflow. 

If you're looking for cash-flow, then I would look at cities like Dayton & Cleveland. 

 Thanks Mike, glad to hear from another former bay area investor/realtor's insight. 

 Happy to connect if you have any other questions about Ohio or OOS investing in general. 

Quote from @Shiwei Qu:

Hello BP community,

Just out of curiosity, if everyone who consider out of state investing has been recommended Ohio market, are there still true opportunities or actually risks? I locate in Bay Area and also consider OOS investing. Thank you for your insight!

Thank you!

 Hi @Shiwei Qu, I'm originally from San Francisco myself and started investing in Ohio back in 2021 before moving to Columbus in 2022. 

Yes, there are still some opportunities, not only in Columbus but other cities as well. As previously mentioned, Columbus has shifted to more of an appreciation type market but there are still some deals that will show some cashflow. 

If you're looking for cash-flow, then I would look at cities like Dayton & Cleveland. 

Quote from @Hyeonji Oh:

Quote from @Mike Paolucci: 

Quote from @Hyeonji Oh:

Hi Everyone, I am glad I joined Biggerpockets to start my investment journey.

 Hi @Hyeonji Oh 

I'm originally from San Francisco, CA and started investing in 2021. It was pretty hard to find properties where the numbers and landlord laws made sense which is what ultimately led me to investing in Columbus, OH.

The numbers and landlord laws out here made sense then, and they still do today. I've been able to get a healthy combination of both cashflow and appreciation from all my properties after a little TLC. 

Here's an example of what I mean by landlord laws not making sense. On the upcoming November ballot for CA, they're tying to pass the "Justice for Renters Act." This will basically limit what you're able to charge for rent for a new tenant. Not to mention other pieces of legislation that make being a landlord in CA not the most ideal. 

Happy to share my experiences. Good luck on your REI journey and property search!!

 Thank you for replying and sharing the information. I almost give up buying mfh in CA. (keep trying)

I am interested in out-of-state investing these days and heard of the Columbus OH market which has good cash flow. How's your journey so far? Is there an area applying for a 1% rule in this tough market in Columbus?

 Just sent you a dm 

Quote from @Dario De Pasquale:

Hello there,

I am an experienced investor in STR. I own 3 properties and rental arbitrage 1 more with a net income of $400,000.

But I am a newbie in LTR. I am looking to diversify and derisk my portfolio by buying and holding out-of-state LTR.

With your desire to find some cashflow and appreciation via LTR, then I would recommend checking out some of the Ohio markets like Columbus. You'll see some solid appreciation here. Lot of big name companies are investing in the area and population is steadily growing. 

I started investing as an OOS investor here back in 2021 and haven't been disappointed with my decision. 

Happy to answer any questions you might have. 

Quote from @Chris Williams:

I am going to be investing out of state. For the investors who have invested out of state what are some team members I should have to make it easier? 

Before you start focusing on the team members, I would figure out what Out of State Market you're going to target. I'm originally from San Francisco and settled on Columbus, OH back in 2021 as my main market before moving here to focus on it full-time. Ohio has plenty of markets to choose from! 

Once you get that figured out, I'll echo what @Mike Morgan and @Kerlous Tadres listed. Each one of those will be key to your OOS investing journey. 

Happy to jump on a call and answer any questions about OOS investing you might have. 

Quote from @Adam Sha:

I'm facing a bit of a dilemma and could use some advice from this knowledgeable community. I'm considering two investment options and am torn between them:

Don't forget to take future legislation into account. This is what I'm referring to --> "Justice for Renters Act" This is coming up on this year's November ballot for the entire state. 

As a bay area native (born an raised in SF), I personally prefer to stay away from legislation that will handcuff me as a landlord moving into the future, which is why I started investing in the Midwest back in 2021. Columbus, OH is landlord friendly and the term "landlord rights" is a real thing. 

Happy to answer any questions you might have about OOS investing or Ohio Markets.