Out of state properties

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Jason Allen
Attorney · Columbus, OH · Member since 2023 · 193 posts · 145 votes
2y
Quote from @Monir Badeer:

Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


 I'd suggest investing in Columbus, Ohio. The local housing authority just approved a substantial increase in the housing voucher rates. So, a property that already meets the 1% can meet the 1 1/2% rule with the right section 8 tenants. 

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  • Todd Rasmussen
    Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
    2y

    @Monir Badeer

    That's exactly how we got started. Network, Network, Network.

    0Reply
  • Michael Dumler
    Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
    2y

    @Monir Badeer, traditional cash flow deals are hard to acquire in Atlanta due to current market conditions and scarce inventory. However, if you are interested in section 8 or rent-by-the-room investments, these strategies can provide more cash flow but come at a higher risk (one of the many tradeoffs in real estate). If you have any questions, I'd be happy to connect. Moreover, if you haven't already, read "Long-Distance Real Estate Investing" by David Greene to understand the concept of developing your core four. 

    2Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    Hey Monir, when looking for that high cash-flow through section-8 I think Cincinnati, OH is a good option to look into. A lot of reasonably priced multifamily homes in the city. 

    [email protected]614-662-1652
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  • Tam Lapp
    Investor · PA · Member since 2024 · 24 posts · 3 votes
    2y

    Hello Monir! Feel free to connect with me. I'm here in Pennsylvania and I work with out of state investors... From purchase, management, sale... Happy investing!

    0Reply
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    2y

    @Monir Badeer
    I own a few rentals that I rent out via section 8 in Columbus OH. I would recommend it. The hardest part about section 8 is getting the process down, like what to do and when. Sometimes they also just change the process and don't tell anyone. A big part of renting to section 8 tenants is screening them. Just because they have a voucher doesn't mean they are the right tenant. The same goes for average joes. Just because they make enough income doesn't mean their application is perfect. Did you do a background check? A big part of tenants treating properties badly is because people didn't screen the tenants adequately, so don't make that mistake.


    [email protected]614-412-4565
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  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    Hey Monir, where in CA are you? I'm in the Central Coast but invest in Detroit. I have 12-doors there and it's been extremely good to me.

    My best advice is to make sure you do your research and can trust the folks you work with.

    The people you work with will be everything. 

    0Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Monir Badeer

    Check out some of the great things happening in Detroit in 2024

    https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/

    Logical Property Management4.9446 Reviews
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  • Anthony L Amos Jr
    Real Estate Agent · Columbus | Toledo · Member since 2019 · 607 posts · 768 votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


     Pro Tip: Invest in Toledo, OH

    2Reply
  • Evan HoppleBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2023 · 284 posts · 420 votes
    2y

    @Monir Badeer

    Dayton/Cleveland OH are good cashflow markets. Buy a property that's turnkey or minimal renovations on your first few out of state deals to build out your team and get established

    [email protected]614-924-8151
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  • Jason Allen
    Attorney · Columbus, OH · Member since 2023 · 193 posts · 145 votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


     I'd suggest investing in Columbus, Ohio. The local housing authority just approved a substantial increase in the housing voucher rates. So, a property that already meets the 1% can meet the 1 1/2% rule with the right section 8 tenants. 

    4Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Jason Allen:
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


     I'd suggest investing in Columbus, Ohio. The local housing authority just approved a substantial increase in the housing voucher rates. So, a property that already meets the 1% can meet the 1 1/2% rule with the right section 8 tenants. 


    0Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    If you are looking into Section 8, I recommend you check the Columbus market. Any C-class neighborhoods are more geared towards Section 8 and long term renters. Let me know how I can help!

    [email protected]614-412-2912
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  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    2y

    @Monir Badeer

    I would not recommend doing this unless you are going to go to your chosen market in person to build your team

    2Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 

    Hi Monir, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!
    [email protected]614-300-7535
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  • Wade Wisner
    Member since 2024 · 86 posts · 69 votes
    2y

    Something I would suggest that you look into is some markets with military bases for market rate rentals.  I did a couple of fix-n-flip in Warner Robins GA which has Robbins AFB and the rents are really good.  You can definitely get 1% deals.  You could also look in the Pensacola, Tallahassee area northwest Florida and I think that you might find the same kind of above average rental rates

    I tend to steer clear of Section 8 particularly if I have decent properties as they are the lowest level of renters and don't take care of much.  Also you have the government regulations that go along with Section 8, which I would not want to deal with either.  I am just a free market real estate investor, where other's may love Section 8.  Too each his/her own

    2Reply
  • Ifeanyi Umezurike
    Real Estate Agent · Virginia Beach, VA · Member since 2020 · 41 posts · 7 votes
    2y

    Hey everyone, I have a question. Is anyone currently investing in Jackson County, Florida? And if so, what type of properties do you tend to focus on - residential or commercial? 

    Also, I wanted to follow up on @Wade Wisner suggestion and throw in Virginia Beach, or all of Hampton Roads, to look into as it is a market with a huge military presence. 

    0Reply
  • Mya Toohey
    Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    2y

    I am in Pinellas County Florida.  The Tampa, St. Pete, Clearwater area.  There is a two year wait on Section 8 rentals.  There is HUGE demand here.  Especially 3-4 bedrooms.  https://pinellashousing.com/calculation-methodology-and-pote...rental houses rent for around $2000-$2400 evn in C and B areas.  

    0Reply
  • Asif Kabani
    Real Estate Agent · Central Virginia · Member since 2020 · 38 posts · 20 votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


    Buying out-of-state properties for cash flow can be a smart strategy, and Petersburg, Virginia could be a potential option worth considering. Here's why:

    Positive Aspects of Petersburg:

    • Affordability: Compared to California, Petersburg boasts significantly lower median home prices. As of Q4 2023, the median home price in Petersburg sits around $140,000, compared to over $800,000 in California. This translates to higher potential rental yields.
    • Strong Rental Market: Petersburg's rental market shows positive signs. The vacancy rate is around 8.4%, and the median rent is steadily increasing, currently at $1,062. This combination allows for a potentially strong cash flow potential.
    • Section 8 Availability: Yes, Petersburg does participate in the Section 8 program, opening up another potential strategy for rental income.
    • Revitalization Efforts: The city is actively undergoing revitalization, attracting new businesses and improving infrastructure. This could lead to future property value appreciation.
    1Reply
  • Jake BakerBusiness Member
    Flipper/Rehabber · San Diego, CA · Member since 2020 · 1k+ posts · 695 votes
    2y

    @Monir Badeer

    You should invest where you feel you have a competitive advantage.

    I invest in Jacksonville FL because my old job would fly me there multiple times a year so I learned the city over time.

    [email protected]
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  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


     hey Monir, Cincinnati works well for my investors. If you want I can get you more info on it!

    [email protected]859-443-4952
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  • Sean HudginsPro Member
    Real Estate Agent · Chesapeake Va · Member since 2019 · 150 posts · 100 votes
    2y

    I will second Virginia Beach and the surrounding areas of Hampton Roads. There are great opportunities here and i believe its a great growth market as well since this area is still relatively affordable for a beach market.

    [email protected]757-844-8215
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 


     Ohio is pretty dope....You got Cleveland, Cincinnati, Columbus, Toledo, Dayton, Akron, Canton and several other cash flow cities.

    1Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Monir Badeer:

    Good morning, I live in California and I’m looking to buy out of state properties that cash flow using regular rental or section 8. Any tips would be appreciated it. 

     i know many investors from CA that buy and still are buying in OHIO. I too live in FL and do all my biz there. I just picked up a duplex ALL IN 75kish. Rents will be 900/900, so about 14k net income, not to bad 20% ish net cap 

    2Reply
  • Michael DiossaPro Member
    Investor · RI · Member since 2023 · 191 posts · 163 votes
    2y

    Find someone who you who is an investor or just lives near if not in an area could do wonders.

    Some Property management companies offer both aspects of buying and managing. This could be great for you as who knows better than a company managing other units in that market.

    However if mitigating cost is a big focus, then like mentioned previously having someone you know and trust is key.

    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Sean Hudgins:

    I will second Virginia Beach and the surrounding areas of Hampton Roads. There are great opportunities here and i believe its a great growth market as well since this area is still relatively affordable for a beach market.


     Im always looking for opps, run your last deal by me, what are the numbers ? 

    0Reply
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