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Updated almost 2 years ago on . Most recent reply

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Ryan Evans
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Building a "Core Four" in Cincinnati/General Ohio from out of state; where to start?

Ryan Evans
Posted

Hi yall from Texas! This question specifically applies to Ohio but it can apply anywhere: HOW do you build an out of state Core Four?

I've recently been looking at some out of market deals which is a new process for me. I've generally lived in any region where I have bought the property or have family in the area who gave me referrals to build out my team.

The cities I'm living in have become increasingly high cost and I am now looking at Ohio as a place to invest in, particularly in Cincinnati

Does anyone have recommendations on how to vet your potential team from out of state? 

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Travis Timmons
  • Rental Property Investor
  • Ellsworth, ME
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Travis Timmons
  • Rental Property Investor
  • Ellsworth, ME
Replied

You have to spend time at the property and build relationships. It takes time. I think that it also helps for your PM, contractor/handyman, and the rest of your team to see you working on your property. There is a bit of a judgmental obstacle to clear if your an out of state owner...the "this rich jacka$$ from TX" that we can overcharge - he won't know or care. It's a different feel if they see you ripping up carpet, painting, swapping out cabinets, etc.

I know that it's not as popular to say that, but you have to earn their respect, trust, and friendship to get a solid team at a distance. There's, generally speaking, no easy or quick way to do that with a contractor, plumber, electrician, or handyman. 

It's different story for a realtor or lender - those folks are easy come, easy go (sorry to the lenders and realtors out there). You can find a replacement pretty quickly and easily. It's harder to replace a handyman or contractor that does good work (and prioritizes your work) for a fair price. 

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