All Forum Posts by: Mike Paolucci

As someone who moved from another state as well, I can relate to wanting all 4 seasons! You'll get everything you're looking for and more in Ohio.

Pretty happy with my decision to move to Columbus but Cincy and Cleveland are also great choices in my opinion. It will all depend on what kind of pace of life you're looking for. Happy to share some of my transplant experiences! 

Quote from @Muhammad Rehan:

Experts, I am looking for some pointers which areas to target for my 2nd rental property. I am based out of California.

$$ Range = max 250k

Down payment = max 25%

Goal = Positive cash flow

Below are the areas i have done some research on so far.

Fayetteville, NC 

Like the fact that there property taxes are low, hence the rental comps vs expenses (mortgage + property taxes + hoa + insurance etc) are kind of breakeven or slight positive cash flow is possible. Assuming 7.5% mortgage rate.

Pflugerville, TX

Property tax is high but austin suburbs seems to have potential of growth due to major techs moving in the area. Rental comps vs mortgage not quite giving positive cash flow with high rates.

I also have areas like memphis, columbus, oklahoma in mind but haven't done thorough research on these so far.

Can anyone advice what other areas (or best from the above list) to look for within my budget and goal in mind.

Appreciate any pointers and happy to connect with local agents/investors.

Hi Muhammad,

Can't speak for the other states but when I was starting off based out of San Francisco back in 2021, I ended up choosing Columbus, OH and have been pretty happy with my decision. I've seen good cashflow & even better appreciation since starting off. 
You can still find properties with your budget in mind. 

If you're targeting mostly cashflow though, then I'd recommend the Dayton & Cleveland markets. You just won't see as much appreciation as you would in Columbus. 

Happy to jump on a call and share some of my out of state experiences. 

Quote from @Josue Ramos:

Hello, my Fellow investors

I am looking for my first investment property and I have been researching markets. So far Dallas, Austin, Houston Texas and Columbus, Cincinnati Ohio and Nashville Tennesse and Nevada have caught my interest. 

Glad to see another Bay Area investor looking out of state. I'm a San Francisco Native and went the out of state route in 2021. I ended up targeting Columbus, OH as my main market so happy to help answer any questions you might have and share my experiences as an OOS investor. 

I would still target Ohio as a market but I would also be looking into markets like Dayton / Cleveland / Cincy. All 4 of the markets provide different results in terms of appreciation & cashflow. 

I can't speak too much about the other markets but happy to be resource for you when trying to figure out which market you want to target. I would suggest picking 1 market to focus on though. Once you have more experience and know if REI is right for you, then you can expand into other markets.

Good luck on your REI journey!

@Ryan Louz A lot will depend on what your investing goals are. 

Are you looking for cashflow / appreciation / combo of the two?

Happy to jump on a call and share some of my experiences investing in Columbus from when I started off as an OOS investor from CA. 

Quote from @Joyce A Debrah:

Hello all, 

My name is Joyce and I am ready to get into the world of real estate.  I have heard about BP for YEARS.  I'm looking forward to learning as much as I can as I grow in my experience with real estate investing. 

JD

Welcome to BP! If you ever have questions about out of state investing, don't hesitate to reach out! 

I got started as an OOS investor back in 2021 and happy to share some of my experiences and lessons learned along the way! 

Quote from @Jarrod Cropper:

Thank you for accepting me to the group.  I'm looking forward to learning from all of you and sharing my experiences.

Welcome to BP. Great place to learn about lots of different aspects of REI. Make sure you take advantage of the various resources (books / team builders / calculators) while you learn and get ready for your first purchase!

Happy to be a resource for you as well & good luck on your journey!

@Korede Alabetutu

Welcome to BP! Make sure you take advantage of the various tools & calculators that BP offers. Some great resources and conversations here. 

Happy to be an additional resource for you & good luck with your REI journey!

Quote from @Diana Minor:

Quote from @Mike Paolucci:

I had the same issue when I was starting investing and living in San Francisco, CA. Numbers and landlord laws didn't make sense at all. Glad to hear that you're being picky instead of settling! 

If you're open to out of state investing, there's plenty of opportunities for cashflowing properties in Ohio where the numbers and landlord laws make sense. 

Happy to answer any questions about my OOS investing experiences. 

Good luck with your property search!

Im still learning, have some experience with 4 primary residences but interested to learn how it would work out of state.

I'd be happy to answer any questions you might have. Sent you a DM.

Quote from @Shrikant Kakani:

Hi All,

I have been reading a lot of books and listening to a bunch of podcasts about real estate investing and I feel like I'm ready to take the next steps. The huddle I'm facing right now is I stay in HCOL (San Francisco) where investing won't make much sense due to high property prices. 

 I was born and raised in San Francisco and ran into those same issues back in 2021 when I first started. Glad you're looking into OOS in more affordable markets. I ultimately chose Columbus Ohio and have been pretty happy with my decision. 

Are you looking for cashflow / appreciation / combo of the two? 

Which markets in Ohio were you looking at? Depending on your target market, you'll still be able to find some good deals (depending on your strategy). I can't really speak too much about the other markets you've looked into but I'd be happy to connect and discuss both the Ohio markets and my experiences as an OOS investor. 

Quote from @Steven Olivas:

Hello, I am new to Bigger Pockets and seeking guidance with my first real estate investment. I think now would be a good time for me to invest because I don't have any debt at the moment, and a decent amount of money saved up. 

Hey @Steven Olivas as a fellow CA native and out of state investor, I know it can be little nerve racking to say the least. Ohio is still a great market but when figuring out what market works for you, make sure you look at the drivers (population growth, economic growth and what kind of developments are going on). 

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