All Forum Posts by: Neil Evangelista

@Daniel Harris Welcome to the board! I'm from the Bay Area and invest out of state in Columbus, OH. I've been to KC, Indy, and Ohio several times over the last year and can share my experience with you (talked to 20+ teams including turnkeys, regular Brokerage/PM, rehabbers, etc) . You may want to check out the Oakland RE Summit that @J. Martin is running the weekend of August 27. You'll meet a lot of other like minded folks like me there and many different aspects of RE! You can PM if you'd like!

Hmmm...I tend to agree with the local Bay Area investors if you've got your rental here you might be better off than OOS. Time to rent OOS is significantly longer (Midwest and Texas from my experience and other investors I've talked to) and you will have less information about your properties. That appreciation is passive whereas you may work harder for that OOS cashflow. The grass in the Bay Area is yellow but it might be more brown OOS or Los Banos.....The Brooklyn Basin looks to have a positive impact similar to the Cultural Trail in Indy...

https://www.biggerpockets.com/forums/48/topics/214...

Congrats @Keith Rorer! Where can I find your podcast? I pulled the trigger too out-of-state this year (2 so far) and looking in Indy. Yes I hear you about taking action! I've spent a year ramping up on BP, meeting folks, PMing, reading, analyzing numbers, blah blah blah....The last few months of holding the property I've learned more than the year to prep.  If I were to spend another year analyzing on the sidelines, I don't think I would have corrected mistakes I've made (underestimating repairs mostly).  If anything just jumping in gets me up the curve quicker...Will PM you to network about Indy!

Hi Karla, I'm having a great experience with Panzera Realty. They PM and are also Realtors which is helpful to get the PM's perspective when you walk through properties. I've been out to Indy and KC too and generally all 3 have similar rent/price ratios for SFRs and you're better off just going with the best PM team given the same deal scenario (who communicates best, experience). If you want to get into Multi's now or later on then Columbus has more to offer and Panzera does specialize in that. I liked Columbus over Cleveland or Cincinnati due to population growth prospects and more diverse industries. What are your thoughts on those 3 Ohio cities?

Aaron, If I were you, I'd spend $500 to fly out look at the property (I checked flights out of Denver for tomorrow) and talk to at least 2 local PMs or REI friendly Realtors to verify #'s for a $175k purchase rather than rely on a few comments here. Heck I'm flown out there for $70k SFRs in the last few months to meet with my team @David Panzera. Those #'s look really good though but for D class I'd get a second opinion from multi-family local experts. Ok, maybe a phone can save you $$ and will suffice... Good luck to you!

Penn, lets PM to talk about Midwest...

Yes I concur, @David Panzera and @Justin Lemaster are a solid experienced team to to partner with. I closed just today on an SFR rental with them as my Realtor and will PM and am excited for future deals! I've been working with them for several months (flying out from Cali to Ohio of course too but mostly on the phone/email) and they are probably the best communicators out of many Midwest turnkey or PM's I've talked to. I've found 30% of the teams I've communicated with don't email back at all or don't call at the time we agreed to (late or no show) and those are huge red flags for us out-of-state folk. Well maybe its something I said! Good luck to you Bruce and you can always reach out to me!

Neil

Welcome Penn! I live in the Bay Area too and looking in the Midwest too for cashflowing properties!  Where are you looking? 

Neil

@Ram Kothandan I've been working with @David Panzera and @Justin Lemaster over the last few months and am closing on a SFR right now with them and they will PM. They're very knowledgeable and have been responsive to me and I'm glad I went with them. They're one of the better teams I've talked to (among several Midwest cities I'm looking into) and your team is as important as the property you're investing in. Regarding where it is better to invest, keep in mind that the A neighborhoods may have less turnover expense, less cashflow than C areas but could appreciate or hold value better (I know a lot of maybes there). I think Columbus is a good mix of cashflow and appreciation vs. other Midwest cities I've looked at which seem to be nice cashflow and not much appreciation. I see what you mean regarding winter months seeing a dip in prices. I'll have to try this strategy later this year but I wonder if getting in a tenant would take longer. You can PM me for more details on Columbus overall, and I'm a fellow Long Islander (grew up in East Meadow for 20 years)!

Thanks Tim and Michael for the information on other areas, housing type, and metrics. I'll keep researching and will touch base if I have any questions!

@Colleen McKoy - I'll pm you offline...