Newbie Analysis Paralysis

7 Replies

Hi all.. I have been trolling these forums for sometime now and have spoken to a couple of professionals which I have made contact with through bigger pockets.  I am extremely grateful for those I have spoken with taking their time to talk to me and in general, what I have gathered here so far.  It has helped me narrow down my 'places of interest' list.  So here goes.. Given I'm a small fish just getting my feet wet, I have eliminated a few areas which I like personally due to the housing demands and costs in those areas.. one of those areas being Nashville.  Here are the other ones I am interested in:

1)  Cleveland or Columbus

3)  Memphis or other parts of Tennessee like possibly Chattanooga

4)  Pittsburgh

5)  I also heard a little about Huntsville and would be interested in learning more

I have also heard that Indy and Kansas City are also areas to consider but I'm wondering whether they are getting too much attention now and I may have missed the boat.  I am looking for Cashflow first and appreciation will be definitely welcome.  I'm sure I'm no different than anyone else in this regard.  

This being said, I'd like to hear from investors and/or agents that can provide me with any insight on not only the areas I mentioned above but any I have missed that I should consider.

I also am looking to travel to one of these areas on November 9th - 12th to familiarize myself better before making a purchase so I need to start booking!

Any advice, constructive feedback and information is much appreciated.

Thanks in advance...Ben

If you are investing out of state, I'm assuming you are looking at turn-key investments?

For turn-key investments, I would think the property manager would make a good deal more difference in overall return than the location. Now that you have narrowed things down to a few cities, I would research who you want to use to manage the property and make your decision based on who you want to work with rather than where you might get 1-2% more paper return.

@Ben Goodall , I am here local in KCMO.  I can honestly tell you there are more deals then I can handle. You have no missed the boat.  This is an amazing market. I love it for a lot of reason. Low cost of housing. High rent prices. Good people. Growing city. Smart local govt, etc...

Anyways, best of luck to you. I definitely would not delete KCMO from your list of potential markets. That said - pick one and laser focus on it. Learn everything you can about it. 

There is an awesome REIA group in Columbus - COREE I think, it is run by Vena Jones Cox a national speaker and would be a good place to visit to learn more about Columbus. Here in KC, I would find MAREI - In Pittsburg, visit ACRE and I am sure you can find groups in the other areas, to go and learn more about the area.

Originally posted by @Ben Goodall :

Hi all.. I have been trolling these forums for sometime now and have spoken to a couple of professionals which I have made contact with through bigger pockets.  I am extremely grateful for those I have spoken with taking their time to talk to me and in general, what I have gathered here so far.  It has helped me narrow down my 'places of interest' list.  So here goes.. Given I'm a small fish just getting my feet wet, I have eliminated a few areas which I like personally due to the housing demands and costs in those areas.. one of those areas being Nashville.  Here are the other ones I am interested in:

1)  Cleveland or Columbus

3)  Memphis or other parts of Tennessee like possibly Chattanooga

4)  Pittsburgh

5)  I also heard a little about Huntsville and would be interested in learning more

I have also heard that Indy and Kansas City are also areas to consider but I'm wondering whether they are getting too much attention now and I may have missed the boat.  I am looking for Cashflow first and appreciation will be definitely welcome.  I'm sure I'm no different than anyone else in this regard.  

This being said, I'd like to hear from investors and/or agents that can provide me with any insight on not only the areas I mentioned above but any I have missed that I should consider.

I also am looking to travel to one of these areas on November 9th - 12th to familiarize myself better before making a purchase so I need to start booking!

Any advice, constructive feedback and information is much appreciated.

Thanks in advance...Ben

 HI Ben!  Congratulations on jumping in and getting started with investing in real estate.  Columbus, Ohio is a great market to invest in.  As a state capitol, with the Ohio State University graduating 6000 students a year and the tax incentives available that are bringing a lot of new tech companies to Columbus, there is no shortage of need for multifamily housing.   Risk tolerance, as with any investment, is at the core of the choices you will make regarding properties, areas and cities to invest in.  Do you want a lower return with a more stable investment in a A area or a high return in a C area that is up and coming?  Having a good team and "boots on the ground" is probably one of the most important tools to start putting together in the cities you are considering.  As an out of state investor, having trusted advisors with a proven track record is invaluable.  Good luck with everything!

Robert Ellis, Real Estate Agent in OH (#2014002724)
(614) 943-9520

Agree with Dan, research, pick a market...for all the right reasons, and laser focus. Build your team in one maket and establish yourself. You can cash flow in most markets but  finding that growth market for super unleaded appreciation it the trick.

361-695-1943

@Ben Goodall

I'm a local investor with my RE license in Dayton Ohio.  We have a very good group of investors here as well.  Our rental market is insane and prices are extremely low.  I have worked with several OOS investors in the past so if you ever want to discuss Dayton as a possible place to invest let me know

Ozzy Smith, Real Estate Agent
(937)572-7931
Originally posted by @Ben Goodall :

Hi all.. I have been trolling these forums for sometime now and have spoken to a couple of professionals which I have made contact with through bigger pockets.  I am extremely grateful for those I have spoken with taking their time to talk to me and in general, what I have gathered here so far.  It has helped me narrow down my 'places of interest' list.  So here goes.. Given I'm a small fish just getting my feet wet, I have eliminated a few areas which I like personally due to the housing demands and costs in those areas.. one of those areas being Nashville.  Here are the other ones I am interested in:

1)  Cleveland or Columbus

3)  Memphis or other parts of Tennessee like possibly Chattanooga

4)  Pittsburgh

5)  I also heard a little about Huntsville and would be interested in learning more

I have also heard that Indy and Kansas City are also areas to consider but I'm wondering whether they are getting too much attention now and I may have missed the boat.  I am looking for Cashflow first and appreciation will be definitely welcome.  I'm sure I'm no different than anyone else in this regard.  

This being said, I'd like to hear from investors and/or agents that can provide me with any insight on not only the areas I mentioned above but any I have missed that I should consider.

I also am looking to travel to one of these areas on November 9th - 12th to familiarize myself better before making a purchase so I need to start booking!

Any advice, constructive feedback and information is much appreciated.

Thanks in advance...Ben

 If you are looking at Cleveland The Ultimate Guide to Grading Cleveland Neighborhoods is a nice resource to look through. 

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.