Top tips for visiting other Markets

4 Replies

Hey all, 

I'm planning on visiting the Midwest sometime soon. I'm particularly interested in Indy and either Columbus or Cincinnati OH. 

As a first timer, what are some must do items you suggest for maximizing a total of 4 full days in that market? 

Thanks!

4 days in one market gives you plenty of time. I would set up meetings with potential lenders, property managers and re brokers. The RE brokers is probably the most important part, so be sure to get a lot of meetings set up and property showings set up. For property managers, I always like meeting them at a property or 2 that they manage. This does 2 things: helps you see the market and helps you see a bit about how they manage. Other things to do would be to drive the city - stay off the freeways and just drive to get yourself familiar with the good and bad of the city. Last suggestion is to go to a local meet up if you are able. 

What I did was research before so I knew what areas I wanted to target and in what order. I came up w/ the target areas once I figured out: Who rents, What do they rent, Where are they look, How much, where do they work. Some areas were better than others on paper, but in person the vibe killed it and I passed on them.

Also maybe post a forum to invite all the people within the CORE 4 (PM, RE Agent, Lender & Contractor) to meet out there. I'm sure there are tons of BP member in those area that willing to meet and chat with you.

I'm also looking into Midwest as well and love to know your turnout. Please keep me posted. Best of luck! @Ernesto Hernandez

Originally posted by @Ernesto Hernandez :

Hey all, 

I'm planning on visiting the Midwest sometime soon. I'm particularly interested in Indy and either Columbus or Cincinnati OH. 

As a first timer, what are some must do items you suggest for maximizing a total of 4 full days in that market? 

Thanks!

 Hi Ernesto, 

Investing from out of state is challenging but if set up correctly, it can be a great way to reach areas that can give you a better return. First thing to consider is the team: lender, agent, property manager, attorney etc... Build a local team that is familiar not only with the area but also with the type of property you are purchasing - location, unit count/mix, rents etc...These folks will be your boots on the ground. If you can come to the city to visit that helps but often, as a majority of properties are "curb offers only", buyers will come out for inspections after the offer is made and then go home and complete the rest of deal form there. It's critical as an out of state investor to build a team that you trust to advise you. Good luck with everything!

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

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