How far do you live from your rentals?

Rental Property Investor · Zainesville Ohio · Member since 2018 · 23 posts · 9 votes

Just as the title reads. I’m about 45-60 miles from Columbus Ohio and think that is where I want to focus my investments. The drive doesn’t bother me much as I commute a lot already. How far do you live from your rentals and what would make you buy farther from home?

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Will GastonPro Member

Rental Property Investor · Columbia, SC · Member since 2010 · 1k+ posts · 2k+ votes

@Account Closed I live about ~100 miles away.

I previously lived within a few miles of all of them, but l'd argue that living farther away has made me a much better business owner.

It has forced me to rely on others for help and to create systems and procedures for dealing with problems.

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Jim K.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
8y
There are only two ways for a property manager to make more money: get more doors and maximize his take per door. Which one involves a lot of work with no certain outcomes and which one is as easy as stealing candy from a baby?
1 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
8y
500 or so miles, LI, - Cleveland,
0 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
8y
@Ben Lynch why would you even think about buying rentals out of state, OH has the best rental markets in the country, Cleveland being one of them. I live in LI, and do all my business in Cleveland. I have clients from CA, Israel, and all across the country all buying in Cleveland, All the best to you
0 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
8y
@Isiah Ferguson I have many clients that have never been to Cleveland let alone seen their property, photos of course,
0 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
8y
@Account Closed the double digit net caps, and low pricing. This is why I do all my business there, and have dozens of clients that have purchases more then 450 from me in Cleveland, all the best
1 Reply
Ben Lynch
Rental Property Investor · Sylvania, OH · Member since 2016 · 9 posts · 4 votes
8y
@Bob Prisco You are exactly right! Ohio brings amazing returns. Getting to leverage a business trip with visiting with family in other states has been the primary reason for considering it. That an living in Northwest Ohio we are so close to Michigan and Indiana that we could reach those rentals in about a 45 minute drive. I'm glad to hear that you are finding success here as well!
1 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
8y
@Andrew Johnson I have many clients that have purchased more then 150 props in Cleveland from me that live in CA, you are correct its all about trusting your PM . Many have not been to Cleveland, its all about integrity , service and pricing, all the best to you .
1 Reply
Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
8y
@Ben Lynch Yep, last week I picked up on the west side, 3 unit net cap 25% ,,4 Unit NET cap 28% and 21 unit 22% net ! How the heck can you beat that :) , all the best to you , BTW, I forgot, last night we got 6 props all rented, all need on avg 3k in work, two doubles 4 SF, , total for all, 100k!!!!
1 Reply
Redgy Saint-Germain
Rental Property Investor · Boston, MA · Member since 2017 · 241 posts · 135 votes
8y
Within 50 miles
0 Reply
Michele G.
Ann Arbor, MI · Member since 2017 · 109 posts · 52 votes
8y
2,234 miles. All of my rentals are within 15 miles of each other. I want passive income so, to me, it doesn’t matter if they’re in my backyard. Sure I could have higher cash flow without a PM, but then I would have to work on my investments and I don’t want to do that. I’d rather focus on my family and acquiring new investments.
0 Reply
Mohammad Sheatt
Investor · Mason, OH · Member since 2016 · 61 posts · 19 votes
8y
15-20 min away
0 Reply
Dawn AnastasiPro Member
Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
8y
My properties are all within 3-5 miles of where I live.
Podcast Guest on Show #29
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Lesley Resnick
Real Estate Agent · Jacksonville, FL · Member since 2015 · 1k+ posts · 1k+ votes
8y
The first question to ask is:
Are you a landlord or investor?
if you are a landlord, you should live as close as possible.
If you are an investor, then it does not matter.
I am actually both, I self-manage my beach RE, it is the town I live in, making me a landlord. I also have a property about 30 miles away in a tougher area. I have never actually seen it live. I looked at it online, had it inspected and closed without having visited. I have a property manager who takes care of everything. There is no reason for me to go to the property. It happens to be in Jacksonville, but it could just as well be in any city in America.
4 Reply
Tandi H.
Investor · Albuquerque, NM · Member since 2017 · 133 posts · 83 votes
8y
Within three blocks of my home. Great to be able to walk the dog and check properties at the same time! Plus its easy to quickly respond to any tenant issues. And they know I'm nearby, which is reassuring for them, as well as letting them know I'm keeping an eye on things.
1 Reply
Account Closed
Rental Property Investor · Houston, TX · Member since 2018 · 106 posts · 56 votes
8y
@Account Closed
I would strongly suggest live close to your rentals if you are starting out. I think 2 hrs drive is okay.
Once you gain more experience with rental business, it's okay to go further out. This is purely my opinion.
0 Reply
Michael Reynolds
San Jose, CA · Member since 2018 · 16 posts · 6 votes
8y
I need one of those fancy airplanes. But they are in the same town that I have family. So it works out. End of the day I don't want them calling me anyway. (Renters not family) :)
0 Reply
Puthy Pan
Investor · Seattle, WA · Member since 2017 · 8 posts · 0 votes
8y
15 minutes away from my place. But if the price is right, i'm willing to go out 45 minutes away. I self manage and do all repairs myself.
0 Reply
Alice K.
Investor · San Francisco, CA · Member since 2015 · 306 posts · 211 votes
8y
I live over 800 miles away, but what's more important to me is the time zone and having people I know are near the property that I can trust to watch after.
As a night owl, having a property in a time zone 3 hours ahead would be nearly impossible for me to deal with.
On the other hand, I have a friend who does his W2 and loves the 3 hour time difference so he deals with that in the morning and then works at the "normal" hours.
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Account Closed
Rental Property Investor · Torrance, CA · Member since 2016 · 724 posts · 1k+ votes
8y
1,100 miles
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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
8y
I’m 705 miles from what I currently own
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David BarnettPro Member
Rental Property Investor · Cambridge, MA · Member since 2016 · 634 posts · 415 votes
8y
My properties are about 1,100 miles away from where I live (Cambridge, MA to Minneapolis/St. Paul, MN).
0 Reply
Ben Granja
Rental Property Investor · Biddeford, ME · Member since 2018 · 30 posts · 10 votes
8y
240 miles.
0 Reply
Blake La Grange
Rental Property Investor · New York, NY · Member since 2016 · 45 posts · 44 votes
8y
2000 miles away.
0 Reply
Miguel Nava
Rental Property Investor · Houston, TX · Member since 2016 · 91 posts · 38 votes
8y
1,308 miles.
0 Reply
Mike Anderson
Investor · Glendale, AZ · Member since 2015 · 25 posts · 9 votes
8y
My are all within 45 min's right now.
0 Reply

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