Out of state RE Investing

Multi-Family and Apartment Investing
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Out of state RE Investing

Elias Kaplan
Member since 2019 · 3 posts · 4 votes

Hi everyone. I'm a NYC local interested in out of state long-term multi-family rentals. I'd like to connect with someone who has recently started investing in out-of-state rentals to talk about strategies and how they went about building a team among other things. Bonus points if you're from NYC as well.

Thanks for the help!

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Gino BarbaroPro Member
Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes
3y

@Elias Kaplan

When I was living in Westchester, I had the same problem. I started investing in Rochester, NY, about an hour flight from where I lived. I learned a ton, from underwriting to working with third party property management.

Luckily, I partnered with someone who moved to Knoxville. He was the boots on the ground and I had the experience. We eventually grew the portfolio to where he manages day to day, and I am running our other business.

I would attend as many meetups and events as possible, to possibly meet others who you can partner with in out of state markets.

We have a ton of members who are from the city, and have found partners and markets to invest in out of NY

Good luck

Gino

Podcast Guest on Show The “Conveyor Belt” System That’ll Build You a BIG Rental Portfolio Quickly
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  • Eliott Elias
    Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
    3y

    Building a team comes with knowing exactly what to look for. You know this by having worked with rock stars in the past. Be patient and do not commit to anyone prematurely.

    0Reply
  • Gino BarbaroPro Member
    Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes
    3y

    @Elias Kaplan

    When I was living in Westchester, I had the same problem. I started investing in Rochester, NY, about an hour flight from where I lived. I learned a ton, from underwriting to working with third party property management.

    Luckily, I partnered with someone who moved to Knoxville. He was the boots on the ground and I had the experience. We eventually grew the portfolio to where he manages day to day, and I am running our other business.

    I would attend as many meetups and events as possible, to possibly meet others who you can partner with in out of state markets.

    We have a ton of members who are from the city, and have found partners and markets to invest in out of NY

    Good luck

    Gino

    Podcast Guest on Show The “Conveyor Belt” System That’ll Build You a BIG Rental Portfolio Quickly
    2Reply
  • Ben Firstenberg
    Investor · Cleveland · Member since 2021 · 247 posts · 240 votes
    3y

    Elias, just sent you a message. Let me know if I can help!

    0Reply
  • Martin Grizzanti
    Investor · Rochester, NY · Member since 2015 · 499 posts · 169 votes
    3y

    @Gino Barbaro love your story and thanks for coming on our show- Real estate power play podcast 

    @Elias Kaplan I am full time investor in Rochester--let me know if you have any specific questions on our market or Upstate NY

    0Reply
  • Gino BarbaroPro Member
    Rental Property Investor · St Augustine, FL · Member since 2014 · 2k+ posts · 1k+ votes
    3y

    @Martin Grizzanti

    MIH!! Let me know if we can help in any way

    Gino

    Podcast Guest on Show The “Conveyor Belt” System That’ll Build You a BIG Rental Portfolio Quickly
    0Reply
  • Michael Meates
    Member since 2023 · 11 posts · 7 votes
    3y

    I’m located in NYC and looking to continue my momentum to building a large portfolio starting this year. 
    Let me know if you want to discuss.

    0Reply
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    3y

    @Elias Kaplan
    First, you would need to decide on a market that you are interested in. Then find an investor-friendly agent in that market that can provide feedback on great areas for cash flow (or whatever your investment strategy is) and some referrals to help build your team like a local lender, PM, and contractor. 

    [email protected]614-412-4565
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  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    3y

    @Elias Kaplan

    Hi! I sold a property in Cincinnati to a guy from Texas and it was fairly simple to be honest. Shoot me a DM and we can talk about it more

    [email protected]859-443-4952
    Sam McCormack Realtor
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  • Jay Sausmer
    Rental Property Investor · Atlanta and Cincinnati · Member since 2017 · 12 posts · 7 votes
    3y
    Quote from @Elias Kaplan:

    Hi everyone. I'm a NYC local interested in out of state long-term multi-family rentals. I'd like to connect with someone who has recently started investing in out-of-state rentals to talk about strategies and how they went about building a team among other things. Bonus points if you're from NYC as well.

    Thanks for the help!


    Hello, Elias. I know an investor who I had connected with via social media who has properties in Cincinnati. I found an agent online (after working through a couple that didn't work out) who understood what I was looking for, and the investor connected me with a property manager. That PM's company also does renovations up to a point and will find people beyond that. I think the best detail is to be as specific as possible; the agent knows what I'm looking for and we don't waste each other's time with other properties; the PM has had to learn what I want in renovating the properties and is now better prepared for my next one. Good luck!

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