All Forum Posts by: Peter Eberhardt

 I would also be curious to know what PM company you had issues with and which ones you recommend. I will send you a DM

Hey all, I am just getting into real estate and want to see these two sides from other perspectives. I feel as though I understand the pros and cons of each throughly and have chosen out of state.

I live in San Diego, purchased a condo about 3 years ago and currently house hacking. I did a light to moderate remodel (new hard floors, carpet, popcorn ceiling removal, paint, new kitchen cabinets, electrical) and it has appreciated (with the help of Covid of course) 60k already. My goals are to buy and hold for cash flow, start with SFH and move up to multiunit.

I really want to invest in my backyard. It makes so much more sense, I know the area, I know the prices, I know the rents, I can do so much more here as far as fixing up places myself for way cheaper, and managing everything myself. But, the prices are so high and the numbers don’t work. If I rented out my entire condo I would still be negative $50 cash flow. Buying into most places here would barely meet the 0.5% rule.

So, I am looking to other markets, Columbus specifically. I can buy three SFH there for the price of one here. I'll never know the area as good as I do here, I'll have to have help managing, appreciation is not as quick, and I'll have to get things close to turnkey as possible to start until I can find honest contractors. But then again, who is to say I'll be in San Diego forever and this market too will become a distant investment.

I know everyone’s goals, opinions, and desirability factors are different, but from the generic standpoint what is your perspective? Less cash flow in your backyard, or more cash flow 2200 miles away?

Thank you for the info and responses everyone! I will respond to everyone personally to make it easier. 

Hey all members! Just another newbie hoping to get feet wet in real estate investing, and trying to not get analysis paralysis. Columbus seems to be a good balance of current cash flow and long term appreciation, and looking at a buy and hold strategy. My goal is to do just enough to become finically independent with multiunit apartments, and I want to start small in an area that I can grow into. Currently house hacking my condo in San Diego!

My main hurdle is management. I would absolutely love to self manage, but there isn’t a market within a 500 mile radius of me that makes sense to start. If anyone has great experience with PM in the Columbus area I would appreciate the referral!