Out-of-state buyers keep asking me if they should self-manage a Houston rental. Most underwrite the PM at "8%" and stop there. In year one the leasing fee is the bigger hit. Published Houston pricing (iPropertyManagement survey of 13 local firms): 1) Monthly fee: 8.3% average for one single-famil...
Out-of-state buyers often underwrite off the seller's last tax bill. For a rental in Texas, that bill can be well under what you'll pay, because the seller's homestead exemption doesn't come with the house. HISD is a clean example. Its homestead exemption is $140,000 plus 20% of appraised value, ...
I'm narrowing down the markets I'd like to invest in. Depending on which market i pick the strategies will be long term rental, flip and or BRRRR. As an out of state investor, would it make more sense to form an LLC in the state your profiting in or just pay the foreign entity fees and keep your ...
Hi everyone! I’m looking to purchase my first rental property in Toledo, Ohio. I’d love to connect with experienced local investors who know the neighborhoods firsthand and can share honest advice about which areas are good investments, which areas to avoid, and how to evaluate a potential deal. ...
Starting my investor journey in Florida's Polk County. (I live out of state.) Currently building a team to flip or BRRRR. Looking for anyone who knows the area. Good idea? Bad idea? Can't wait to connect. Thanks!
Hi everyone! After a long sabbatical, I am back to BP forum. I am a new out-of-state investor considering two markets in Ohio - Cleveland or Toledo. Primary goal is to invest in multi-family units. However, I am open to single-family properties as well, if numbers make sense. I would like to get ...
How many markets did you research before pulling the trigger on your first out-of-state deal? For me, the biggest factor is having someone on the ground I trust who can be my point of contact. The numbers have to work, but having a reliable local connection matters more than anything else. That’s...
I see a lot of out-of-state investors looking at Columbus, and I get why: a diverse job base, steady population growth, and a big stock of older 1-4 unit housing. I've invested here for 17 years and work with investor buyers, so here is what I'd check before wiring earnest money from another stat...
My business partner and I own a rental property in the Detroit area through an LLC. We purchased it three years ago, and after our tenant recently moved out, we discovered significant wall damage, likely caused by a water leak. Repairs could cost around $25,000, and unfortunately, we don't curren...
Hi everyone, I live in VA now but still have a rental in Bexley Park Delray Beach 33445. Bought in 2000s 3/2.5 townhouse, rents 2400 but needs work, HOA and insurance up. Tired of managing from far. For those who sold out of state rentals, did you list with agent or sell off-market speed? What di...
A post calling Texas "the biggest financial trap in America" over property tax bills is making the rounds this week. For Houston rentals, most of that pain is avoidable if you look up the tax stack before you offer, not after. What I check on every Houston address: 1) HCAD property search, then t...
Hi everyone, and happy Tuesday! Last week the Hillsborough County Sheriff's Office announced "Operation Bad Builder": 50 people arrested between June and early October, mostly for contracting without a license or leaving homes worse than before. Their advice: check the license with DBPR, ask for ...
I’m looking for some advice on my first investment property. I’m currently stationed overseas but will be moving back to Michigan in the next few months. I’m planning to invest in the Downriver area, mainly looking at single-family or multifamily properties with some renovation/value-add potentia...
Hello, so im 24 live in NJ with my parents and am debating using the next 2 years of living at home to just save or get started in real estate. Ive looked into all the different strategeys and for my area house hacking doesnt seem to be the best. I landed on out of state single family homes under...
Hi all, I’m currently flipping in Florida and considering expanding into Ohio using either Investor IQ or a flipsystem “co-pilot” model that helps manage out-of-state deals. Before committing, I’d love to hear from anyone who has real experience with either. Did the numbers hold up? Were rehab ti...
Hello! We have about $150k liquid. We live in Washington but had hoped to invest in states like Texas, Florida, Georgia, where the prices are much more reasonable. We have a residential remodel company and are willing/able to rehab houses we pick up To add value. With rates going up and so much u...
For people with out-of-state rentals, how did you end up picking your property manager? Did you interview a bunch or just go with a referral from your agent? We had one years ago that looked great on the phone and then the vacancy sat 2 months with no updates. once bitten twice shy so now i ask a...
Hi, I'm in my early 20s. Landed a solid SWE job. I have 100k saved up. I live with parents in NYC. Low expenses. I have been in the market for 1 year now. I started looking for Multi fam units in NJ around 550k. Price's increased. Now scarping the pot for SF in CT, NJ, or upstate NY for 450k or l...
Hey guys, I am looking to buy my first property myself in Cleveland, Ohio looking at the price to rent ratio I know I am buying in a rough area, but I like the long-term upside. I'm looking to get connected with an amazing realtor, Contractor and property management team. I would appreciate any i...
Hi Guys, I have a property out in Ohio and am looking to expand my portfolio. Im curious to hear from successful seasoned multifamily real estate investors what processes have made the successful. Some areas I want to gain more knowledge in is: -Network used to finding good tenants and fill units...
As the Title says, I am in a bad market, and a soon to be investor. Where are the best cities/states to invest. I have been looking at potentially Indiana. What are some of the key things to know when it comes to long distance investing? What are the steps to getting a loan out of state? If anyon...
Starting research for my first OOS investment--forums suggested for me to look at "class" of properties (indicated it can be found by looking at property taxes, school ratings, crime statistics, etc.). Is there one site where I can look at all that (through the lens of identifying what "class" ne...
Out-of-state buyers hear "Houston has no zoning" and assume you can do anything with a house. You can't. Most neighborhoods run on recorded deed restrictions, and the City of Houston has a Legal Department team that enforces them in court, against the owner and/or the tenant. It costs a neighbor ...
Hey everyone! I’m a small multifamily investor in the Providence and Pawtucket, RI area, and I’m looking to expand into out-of-state investing, specifically Ohio and the Columbus/Cleveland markets. I’m currently working on learning the Ohio market, understanding which areas offer the best opportu...
Hello Can anyone suggest a LAIC for a property in Cleveland? Also, what is the going rate? Thanks Rene