All Forum Posts by: Mike Paolucci

@Trevor Crabtree I would target a duplex / triplex / quadplex for your next house hack and build the portfolio that way.

Hey @Cecil Shannon

I'm originally from San Francisco, CA and started investing in 2021. I chose not to invest in CA because the numbers and landlord laws just didn't make sense. Here's an example of the landlord laws I'm referring to ("Justice for Renters Act"  - this is coming up on CA's November ballot).

 I ended up starting off with an OOS investment here in Ohio because both the numbers & landlord laws made sense out here and I haven't been disappointed with my decision to do so. As the years have progressed, I've seen a healthy combo of appreciation & cashflow has continued to increase as market rents have gone up.

To start off, I'd attend some local meet ups and network a bit, and start analyzing some deals. Once you feel comfortable in running your numbers, figure out a good market that has good population & economic growth and landlord friendly laws. Once you've found your target market, start developing your teams (Investor focused agent, Investor friendly lender, Property manager & contractor). Last but not lease, start writing offers and don't get stuck in analysis paralysis. 

Let me know if you have any questions about OOS investing. Happy to answer any questions you might have. 

@Jim Javier congrats on your first flip. Hope all is going well with it! 

What's your overall plan? Are you looking to continue to build an OOS portfolio? 

I started off as an OOS investor from San Francisco in 2021 and have been pretty happy with my investments here in Columbus, Oh. If you're still open to OOS investing, check it out. 

Have you thought about OOS investing? With 100k liquid, you can find some decent deals in Ohio that will make sense by the numbers. 

I originally started off as an OOS investor from CA and have been pretty happy with my decision to invest here. Happy to answer any questions you might have. 

@Nick Sokoloff

I can't speak much about Raleigh, but as someone who started off OOS investing in Columbus, I can't complain at all when it comes to the appreciation I've experienced. 

Here's an example why:
2021 - purchased a duplex for $145k in C class. Fast forward couple of years, sold it for $195k about 8 months ago and 1031 into an A class duplex. 

The timing was perfect with the A class duplex, but that's the kind of appreciation I've experienced for most of my portfolio in Columbus on top of the cash flow getting better as the years have progressed and rents and increased. 

Happy to answer any questions you might have. 

@Martin Bys
If you can house hack locally, definitely suggest that. If the numbers don't make sense, think about OOS investing. 

I'm originally from San Francisco and found it difficult to find anything that made sense to me in CA. I ended up choosing to invest in Columbus and haven't been disappointed. I'd be happy to connect and see if it's something that could work for you and your fiancé. 

Good luck with your investing journey. 

@Codey Wendel I wouldn't worry about the interest rate being where it is at right now. Worst case scenario, it goes up and you'll be happy you have the rate you have. Best case scenario, it drops and you can refinance later on into a much better rate. Either way, it's a win-win imo. If the numbers for for you right now, I would do it. 

@Amy Wei Ru Chang

Have you thought about out of state investing? 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.

Happy to share my experiences. 

@Anais Rosales

Have you thought about out of state investing? 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.

Happy to share my experiences.

Hey @Enos Vazquez
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.

Happy to share my experiences.