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All Forum Posts by: Mike Paolucci

Mike Paolucci has started 5 posts and replied 229 times.

Post: Excited to Learn and Connect in the Real Estate Journey!

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Hannah Liu:

Hello everyone! I’m really excited to join this community.

I'm from California. I've been interested in real estate for years and have invested as an LP in several projects, ranging from residential single-family homes to NNN properties and flipping.

While I haven’t owned any property yet, I’m hoping to take that step in the near future. However, I’ve been hesitant due to challenges like remote management, high interest rates, and low cash flow. I’d love to learn from all of you, connect with like-minded people, and eventually achieve financial freedom together!


 Hey Hannah. Congrats on taking the first steps on your investing journey. I'm born and raised in San Francisco and started off as an OOS investor as well back in 2021. 

First thing I recommend is to figure out your target market. Landlord friendly states are going to be your best friend since CA isn't the best at looking out for landlords. Focus on factors like what is driving cities to grow both in population and economics. Taking a trip to the city will also help you get a lay of the land and what you can expect from the specific market you settle on. There are still some good markets that will provide cashflow but you'll need to have realistic expectations when investing purely for cashflow. 

Next, start building your remote teams. Investor focused realtors & Property managers are going to be your biggest asset since they'll be finding your deals & managing the day to day operations for you. A good, solid PM will be key to your investing. Local investor focused realtors will have multiple referrals for you to check out and interview. PM's will have plenty of contractors to help streamline the process for you and limit your liability when dealing with contractors. 

Finally, don't get caught up in analysis paralysis. Hardest step in everyone's journey is to pull the trigger on a deal. You're going to learn A LOT from your first investment property so don't get discouraged. There's ways to help limit your overall liability like targeting more turnkey properties or properties with long term tenants (2+ years of living there) to help the learning curve. I normally recommend a turnkey single family home (3b/1-2ba)/ light cosmetic work single family as a 1st investment. Single families are generally more desirable for tenants & you also get longer staying tenants most of the time. 

Happy to share some of my OOS experiences. 

Post: Looking forward to connecting and grow

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Femi Alakija:

Hi, BiggerPockets community!

I’m excited to join this platform and connect with like-minded individuals passionate about real estate and investing.

I'm relatively new to investing but eager to learn and grow. I've been exploring strategies like the BRRRR and am keen to hear about others' experiences.

I’m here to learn, share ideas, and contribute wherever possible. I look forward to connecting with fellow investors, learning from seasoned pros, and hopefully sharing my journey as I dive deeper into this space!

Feel free to share any tips or wisdom—I'd greatly appreciate it! Let’s grow together.

Looking forward to connecting.


 Welcome to BP! If you can house hack a duplex / triplex / quad locally, I highly suggest it. It's probably the best way to get started and learn what it's like to own properties while gaining equity and limiting your living expenses. You can also take advantage of lower down payment loan products rather than going 20-25% down on a conventional investment loan. 

Post: Aloha from Hawaii new member

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Jerem Kaawaloa:

I have spent the past 20 years working in health care and have only ever purchased properties for my own use, including a home and office. I am excited to start the journey of real estate investing with my sights set on long term single family and smaller multi family long term rental properties out of state. I plan to use BP tools for finding markets, deals and team members. Undoubtedly, I have much to learn, but I am no stranger to long hours of study and work. Any advice or assistance from this community is welcome and appreciated. Happy holidays to all and wishing you a prosperous year ahead. Mahalo for taking your time to read my intro.

Hey Jerem. Welcome to BP and hope all is well out on the rock. 

There's plenty of info to soak up on BP but make sure you also attend local meet ups, even if they might be on other islands and network with local investors. Those meetups are a great way to soak up relevant info from other active investors. Most investors at those meetups will also give you a list of things to look out for and share some mistakes they've made along the way to try and help. 

Happy to share some of my OOS investing experiences (got started back in 2021 as a OOS investor living in San Francisco). 

Good luck on your rei journey!

Post: New to BiggerPockets!

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @David Charles:

Hello! I'm David and I have been researching real estate investment opportunities on my own for quite a while now. Finally able to actually start executing on some thoughts — and figured I need a network of folks that love real estate investing as much as I do. I am currently in Charlotte and am looking to make my first investment soon! Glad to be here. :) Would love to connect with any real estate professionals in the following areas, as I am considering these markets for LTR:

Oshkosh, WI
Madison, WI
Buffalo, NY
Syracuse, NY
Quantum Valley, NY
Cleveland, OH
Columbus, OH
Pittsburgh, PA

I am most excited about cash flowing properties in areas with exciting growth potential, renovation efforts, or new money coming in! I have lived in Wisconsin and upstate New York in the past and have a decent amount of knowledge of those areas — but obviously need help. I'd love to stay in touch with you!

Have an awesome Sunday!


Hey David. Welcome to BP and congrats on taking some good first steps. I got started back in 2021 as an OOS investor born and raised in San Francisco. 

For you 1st property, probably a good idea to start with something that's more turnkey / light cosmetic work needed before diving into full renovations. Since you mentioned cashflowing properties, I'd add Dayton, OH to your list of markets you're doing research on. 

Happy to connect, share some experiences and chat about your goals. 

Post: Inspection Report - How would this inspection report affect your offer?

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @James Mays:

Hello BP Team!

I recently went under contract for a 4/2 LTR/Section 8 house with current tenet in place in Jackson, MS. Inspection report came through today. First time out of state investor. Currently have a local LTR Condo in CA and Primary SFH in CA.

________________________________________________________________________________________________________________________________________

How should I think about my counter offer/credits/repairs off of the inspection results?

I typed up the below and sent back to my realtor to start the conversation but wanted to get BPs thoughts as well. 

-Should I ask for credits to repair? 

-Should I reduce my price offering? 

-Or is this normal and I eat the repair costs? 

My message back to the realtor:

After reviewing the inspection report, here are my thoughts. I would like to have some of the results looked into further, repaired, or credits issued so that we can repair.

The below list is what I would like to be repaired or priced out to have credits issued.

Let me know what you think, thanks!

Further Evaluation (Professional based)

  • Comment 2: Yard wet
  • Comment 23/24/25/26/27: Electrical Work
  • Comment 4/5/6/7/40: Glass repairs/sealed
  • Comment 28/29/30: Hvac repairs
  • Comment 49: Chimney inspected/cleaned

Repair (Handyman based)

  • Comment 3: Vegetation removal
  • Comment 12: Leaking hose bib
  • Comment 13: Sewer cap replaced
  • Comment 19: Door knob replaced
  • Comment 22: Replace all batteries in smoke detectors
  • Comment 38: Replace clamp in sink
  • Comment 39: Replace dishwasher
  • Comment 41/48: Dry wall prepare
  • Comment 44/47: Door repair

Have you decided on a property manager yet? If so, then I'd send them the inspection report + the list of items you want repaired / estimated costs for and then use those to either negotiate the price down a bit / request seller credit for repair OR a combo of the two. 

I would also only use the legitimate issues as a way to negotiate (Electrical / HVAC / Dishwasher). Lots of the items you listed are small ticket items that are a cost of doing business and owning rentals. Using ticky tack items to negotiate is a great way to get a seller to dig their heels in and not budge at all. 

I also wouldn't recommend trusting a seller to do any long term fixes. They'll likely take the easiest / cheapest way out and just do the bare minimum and slap lipstick on a pig to get the deal done. Better to have your own property manager use trusted handymen to take care of the issues for long term/quality fixes. 

Post: New to Multifamily in Columbus, Ohio

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Tyler Edmister:

Hey Everyone!  My name is Tyler Edmister. I've done a few fix and flips and have decided I want to focus on multifamily properties in Columbus.  I'm here to network and learn.  I joined a mentor group earlier this summer also to help accelerate the process.

A little about me...

I joined the Marines out of high school and served for one enlistment. I came back to Ohio and started working for a construction company, and have been there since. (2017) Currently I manage an asphalt plant for them in Columbus.

I haven't done a ton of real estate investing, but have a strong understanding of construction, and project management.  I'm looking to build a team to take down deals primarily in the Columbus area.

Leave a comment, lets connect!

My Linkd In

 Hey Tyler. Sounds like you have a great advantage with your background and time living locally. Have you decided on which neighborhoods you want to target?

Post: How To Get Started | Bay Area

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Brandon Ortiz:

My name is Brandon Ortiz, and I’m a real estate agent here in the Bay Area. I’ve owned a home in Gilroy, CA, for 12 years, and it has built up a significant amount of equity. I’m now looking to invest that equity to create financial security for my family in the future.

For those experienced in real estate investing, what would you recommend as the best way to get started? Should I focus on rental properties, fix-and-flip projects, or explore other strategies? I’d love to hear your thoughts and insights.

Thank you in advance for your advice!


 Welcome to the investment side of RE. Best way to get started on an investment would be to house hack / invest locally. Easier for you to monitor & manage you property while building your portfolio. Might not be ideal to go from a personal home to a duplex/triplex/quad but it's a great way to buy with as minimal % down as possible. 

If that isn't feasible like it wasn't for me (personally being born and raised in San Francisco), you may want to look out of state. Look for markets with good population/economic growth. You should be able to find a PM in your target market to help manage everything for you (I don't recommend managing from a distance...it can be a nightmare and your time is more valuable focusing on your sales business). 

I'm a bigger fan of buy & hold for the long term and goin the LTR / MTR route. 

Happy to connect and share some of my OOS investing experiences. Good luck on your investing journey! 

Post: Looking to buy my first investment property

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Lolo Druff:

I am looking to buy my first investment property, and my goal is to continue building this portfolio every year until I can live off my rental income entirely. I have about $400K to deploy, but would prefer to buy several duplexes rather than 1 more expensive building. I live in CA but am open to investing anywhere that makes financial sense. Cash flow is important of course, but so is appreciation, so I want to ensure I have a balance of both. Is it wise to buy some units with high cash flow and low appreciation, and others with lower cash flow but high appreciation to diversify my portfolio?  

I was looking in Columbus OH but the market is so saturated and it's been difficult for me to find cash-flowing deals there. Any deal that I've found seems to have sold within the last 2 years, and its alarming as to why it's back on market again unless they have problems with the building and/or tenants. I'm open to all suggestions regarding different cities that meet my requirements and would love to chat with some realtors who have local experience working with investors. 

 Hey Lolo. As a CA native and former out of state investor I went through some similar issues back in 2021 when I got started. 

Regarding the deals you see listed after 2 years, sometimes investors choose to take advantage of the appreciation they've gotten and move it elsewhere. I had a duplex in Hilltop that was doing well for me and sold it 2 years later to do my first 1031 into a Hilliard duplex because it was part of my investment strategy (invest in C class with a 2-5 year exit strategy and 1031 into a better asset class). Obviously I can't say for certain that's what happened with those specific properties but it's just a slightly different strategy. 

If you're looking specifically for cashflow, then take a look at Dayton and Cleveland. Those markets are pretty good for that. 

Happy to connect and share some additional experiences if that interests you. 

Post: How to Start Out in Real Estate Investing in a High Cost of Living Area

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Edward Suess-Hassman:

Looking to get into Real Estate. I've been reading a few books on Bigger Pockets. Looking at possibly picking up "Small and Mighty Real Estate Investor" and " Wealth Without Cash". However, it seems my local area (San Jose / Bay Area) might not be the best as I know most of the win is in the buy. However, there is still so much I don't know. 

Wife won't let us house hack (we have a house, and a daughter). We have some REITs. 

Looking for guidance, networking and a path forward. Thanks!

I'm originally from San Francisco and ran into that same issue back in 2021. I ultimately decided to look out of state where the price points were more affordable and the numbers made sense + landlord laws are more friendly. 

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

Post: Investing in California vs. other landlord-friendly states: What should I do?

Mike Paolucci
Posted
  • Realtor
  • Columbus, Oh
  • Posts 233
  • Votes 390
Quote from @Csingh Singh:

Hello Guys!

As the post shows, I am "starting out" on my investing journey. I currently have my previous home for rent but the property was unfortunately trashed by the Tenant. Following the laws has been a "process" to call it nicely. I wanted to ask if anyone who was originally an investor from CA moved to other landlord friendly states like NV, AZ, TX and found their market and how that has been. 

Any feedback would be appreciated!!


 I'm originally from San Francisco, one of the more liberal and anti-landlord cities in the state. Landlord laws was the main factor why I chose to invest out of state and have been happy with my decision to do so. 

Tenants will trash your property, regardless of what market you choose to invest in. It's the unfortunate reality of real estate investing. That is what makes finding good tenants (pay rent on time, take care of the property and let you know when things need to be fixed) so important. Once you do find them, do what you need to do to take care of them and keep them as long as you can. 

Ohio, from my experience has been a pretty good state when it comes to landlord laws. You have actual rights in comparison to CA and the process is much easier. Toughest part will be figuring out what market you want to target, what teams to trust and employ to manage your properties for you as I wouldn't recommend trying to manage the property yourself. It'll take time to develop the boots on the ground but a good PM will help speed that up.