Income properties in Midwest or SouthEast

General Real Estate Investing
8yFollow

Income properties in Midwest or SouthEast

Matthew Swearingen
CA · Member since 2018 · 124 posts · 33 votes

I'm a first time investor living in CA. My research shows me that the MidWest is the invest at this moment. I am looking for homes with a price range of $50k to $100K in Trenton, Columbus,  (West Price Hill, Westwood and Delhi), Cleveland and Cincinnati , Atlanta GA, Kansas City Missouri, Wisconsin and Indiana. I have contacted a few agents and I tell them what I'm looking for and if they can locate C= and B properties in these areas with all the pertinent info such as occupancy rate, rents, property management company, etc. I have had a couple agents call back and give me a few listings but other than that not a whole lot of info. I explained to them I have never been outside Ca and I'm looking to buy 4 rentals to start with. They don't seem to motivated to make money. Why?

Also, can anyone give me insight as to the places to buy I mentioned above? Basically I go on Zillow and find homes in the price range (50-100k) and then find rentals in the same zip code and then decide if I can get at lease a $300 positive cash flow?

Is there software such as core logic that can give me data as far as home price and area growth, employment and home prices, rental prices so I dont have to rely on lazy agents who are not motivated. I'm not exactly if Corelogic offers what I need anyway.

Thanks

Matthew

1Reply
48 views

Most Popular Reply

Eric Adobo
Member since 2018 · 509 posts · 211 votes
8y

Real agents know long distance tire kickers don't actually buy is why you get uninterested agents. 

Call a TK company you will be pampered like there's no tomorrow. 

6Reply
See this reply in the discussion

42 Replies

Jump to latestLatest
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y

    Thank you John for the advice. I will for sure follow up.

    Matthew

    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y

    Hi John

    I'm having a hard time on this site. Where do I go to find BP Pro agents?

    Matthew

    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y
    Originally posted by @Jeremy Brenneman:

    When looking in the Kansas City area I would strongly suggest towns called Raytown, Independence, Blue Springs, North Kansas City (up and coming trendy area) and some areas within the City. You can for sure find houses within your price range that will produce rents from $700-$1300(I know that's a wide range) depending on the house and area.

    The Kansas Side has some appealing areas that will produce similar results. Look for Turner and Edwardsville. 

    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y

    Thanks Jeremy

    How do I find what rents are. I'm looking on zillow and find listings in my area ad thentake the zip code from that home and put it in Craigslist. A home or condo pops up but no zip code that I can see on Craigslist. Any suggestions on best way to find what the rent is in that particular area and compare to the homes I find on Zillow?

    thanks again for all your advice

    0Reply
  • Jeremy Brenneman
    Olathe, KS · Member since 2014 · 4 posts · 4 votes
    8y

    Try Rento-meter (free) or Rentrange ($2-$3 fee) or Zillow will get you close

    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y
    Originally posted by @Jeremy Brenneman:

    Try Rento-meter (free) or Rentrange ($2-$3 fee) or Zillow will get you close

    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y

    Thanks Jeremy

    Ill check it out.

    0Reply
  • Jeremy Marek
    Evergreen Park, IL · Member since 2016 · 138 posts · 59 votes
    8y
    @Matthew Swearingen, as others have mentioned, you will be better off looking for TK properties or listings from other investors. I'm not an agent personally, but one of my brokers works with investors and tracks his stats and told me he won't work with out of state guys any more. Too many OOS investors get cold feet and don't take action because they aren't local and dont truly know the area. So they are time wasters. An agent doesn't get paid until a transaction is completed.
    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y

    Hey Jeremy

    That's unfortunate. Many moons ago I was an agent and whether someone wasn't from the area or not, I as an agent would educate them because they would have ALL the same questions. Where are the best schools, how is crime in a particular area,etc. Most people don't know the area which is why they hire an agent to do that work.  Sometimes you closed a deal and sometimes you didn't just nature of the beast.

    With that said, how do I locate an investor that has properties that he/she is looking to sale?

    0Reply
  • Jeremy Marek
    Evergreen Park, IL · Member since 2016 · 138 posts · 59 votes
    8y
    @Matthew Swearingen Very true, it is the nature of the beast. In answer to your question, I would look for a legitimate wholesaler in your target market, look for Facebook and bigger pocket groups related to those areas as well, along with local REIA. There are a lot of turn key providers here on bigger pockets too, just do a post on your target area (probably focus on one market per post), and tell turnkey providers, wholesalers and investors to get you on their email lists. It won't cost them any time or money to add you and then you have a funnel of deals to sort through
    0Reply
  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    8y

    @Matthew Swearingen you can find agents on this site by searching zip codes/etc. I would recommend, though, that you get out to your local REIA events. That is where you can find the local folks. I think BP is incredible, but real estate is still incredibly local and the networking events out there are often the best ways to meet local agents, attorneys, contractors, etc.

    0Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    8y
    Originally posted by @Matthew Swearingen:

    I'm a first time investor living in CA. My research shows me that the MidWest is the invest at this moment. I am looking for homes with a price range of $50k to $100K in Trenton, Columbus,  (West Price Hill, Westwood and Delhi), Cleveland and Cincinnati , Atlanta GA, Kansas City Missouri, Wisconsin and Indiana. I have contacted a few agents and I tell them what I'm looking for and if they can locate C= and B properties in these areas with all the pertinent info such as occupancy rate, rents, property management company, etc. I have had a couple agents call back and give me a few listings but other than that not a whole lot of info. I explained to them I have never been outside Ca and I'm looking to buy 4 rentals to start with. They don't seem to motivated to make money. Why?

    Also, can anyone give me insight as to the places to buy I mentioned above? Basically I go on Zillow and find homes in the price range (50-100k) and then find rentals in the same zip code and then decide if I can get at lease a $300 positive cash flow?

    Is there software such as core logic that can give me data as far as home price and area growth, employment and home prices, rental prices so I dont have to rely on lazy agents who are not motivated. I'm not exactly if Corelogic offers what I need anyway.

    Thanks

    Matthew

     Welcome to the site! I can tell you places like Cleveland are really taking off right now. It is a great time to invest. Best of luck to you! 

    0Reply
  • Maggie Mikaitis
    Lender · Chicago · Member since 2018 · 2 posts · 1 vote
    8y

    Hi Matt! 

    As a first time investor, living out of state can be intimidating making it that much more important to work with skilled professionals. My partner, Joe McBreen and I specialize in Turnkey financing all over the country and are happy to answer any questions you may have. Please feel free to reach out to me at www.bemortgage.com/maggie


    Thanks! 
    Maggie 

    1Reply
  • Marty Bauer
    Rental Property Investor · Charleston, SC · Member since 2015 · 33 posts · 13 votes
    8y
    @Matthew Swearingen I will send you big in DM :)
    0Reply
  • Matthew Swearingen
    OP
    CA · Member since 2018 · 124 posts · 33 votes
    8y

    Thanks Marty but what's DM?

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free