Looking for my first investment property

Portland, Oregon
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Looking for my first investment property

Felix Lilly
Member since 2022 · 27 posts · 26 votes

Hey bp. 

I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

Thank you. 

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Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
2y
Quote from @Felix Lilly:

Hey bp. 

I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

Thank you. 



Hey Felix, I would check out the Columbus market. It has been booming for the past couple of years with strong job growth and population increase. I personally invest here for both the cash flow and appreciation. I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.

Most of my clients purchase turnkey investment properties in areas like Old North, Merion Village, Southern Orchards, Old Towne East/King-Lincoln Bronzeville, Driving Park, North Linden, North Hilltop, Franklinton, Reynoldsburgh, and Hungarian Village.

My BRRRR and Fix & Flip Investors like to buy in areas like Eastmoor, Hilltop, Whitehall, and Linden. These areas have appreciated a ton and have seen a lot of growth.




[email protected]614-802-5698
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  • Arn CenedellaPro Member
    Rental Property Investor · Greenville, SC · Member since 2008 · 786 posts · 1k+ votes
    2y

    @Felix Lilly

    what is the biggest obstacle in your way?
    how long have you been thinking about buying out of state?


    Arn

    [email protected]650-575-6114
    0Reply
  • Bradley BuxtonBusiness Member
    Real Estate Agent · NV · Member since 2023 · 1k+ posts · 715 votes
    2y

    @Felix Lilly

    How much capital do you have to employ because if you buy in all cash in theory it will cash flow. In Reno, NV there are new builds that cash flow with reasonable down payments because of the incentives to buy down interest rates. Nevada does have low property taxes which also help with cashflow.  Your strategy will also change your yield.  

    1Reply
  • Felix Lilly
    OP
    Member since 2022 · 27 posts · 26 votes
    2y
    Quote from @Bradley Buxton:

    @Felix Lilly

    How much capital do you have to employ because if you buy in all cash in theory it will cash flow. In Reno, NV there are new builds that cash flow with reasonable down payments because of the incentives to buy down interest rates. Nevada does have low property taxes which also help with cashflow.  Your strategy will also change your yield.  

    @Bradley Buxton would you recommend investing in Reno? is the ROI high over there? I can't pay entirely cash for a property yet, I'm just wondering to get started. You know what I mean?

    0Reply
  • Felix Lilly
    OP
    Member since 2022 · 27 posts · 26 votes
    2y
    Quote from @Arn Cenedella:

    @Felix Lilly

    what is the biggest obstacle in your way?
    how long have you been thinking about buying out of state?


    Arn

    @Arn Cenedella the biggest obstacle in my way is knowing what steps I need to take exactly so I don't fall into debt. I have been wanting to buy (anywhere) for about 3 years. I would love to get an investment property before too long so I can start building equity and getting a good stream of cash flow. 

    0Reply
  • Bradley BuxtonBusiness Member
    Real Estate Agent · NV · Member since 2023 · 1k+ posts · 715 votes
    2y
    Quote from @Felix Lilly:
    Quote from @Bradley Buxton:

    @Felix Lilly

    How much capital do you have to employ because if you buy in all cash in theory it will cash flow. In Reno, NV there are new builds that cash flow with reasonable down payments because of the incentives to buy down interest rates. Nevada does have low property taxes which also help with cashflow.  Your strategy will also change your yield.  

    @Bradley Buxton would you recommend investing in Reno? is the ROI high over there? I can't pay entirely cash for a property yet, I'm just wondering to get started. You know what I mean?


     Reno is a great equity market. Most properties range 185k-600k that with around 30% down will cash flow. As with most RE investments one property is not enough to live on.  The equity and long term buy and hold in Reno will be the best way to build wealth in the area.  Happy to connect and share more knowledge of the area.

    0Reply
  • Arn CenedellaPro Member
    Rental Property Investor · Greenville, SC · Member since 2008 · 786 posts · 1k+ votes
    2y
    Quote from @Felix Lilly:
    Quote from @Arn Cenedella:

    @Felix Lilly

    what is the biggest obstacle in your way?
    how long have you been thinking about buying out of state?


    Arn

    @Arn Cenedella the biggest obstacle in my way is knowing what steps I need to take exactly so I don't fall into debt. I have been wanting to buy (anywhere) for about 3 years. I would love to get an investment property before too long so I can start building equity and getting a good stream of cash flow. 

    I just want to be sure about what you are saying…….

    When you say “you don’t want to fall into debt.” Does that mean you want to pay cash for a property with no loan? Or do you mean you don’t want to buy something with negative cash flow?
    [email protected]650-575-6114
    0Reply
  • Chris Albert BeltranPro Member
    New to Real Estate · Sunnyvale, CA · Member since 2023 · 3 posts · 2 votes
    2y

    I am a new RE investor. I think you can start by looking into sites like Redfin and do a search for those properties. You can use BP tools to them and see if they would cash flow. I am started looking for investment properties recently here in my backyard and invested in AZ. You can look for investor friendly real estate agent here who works on other states.

    0Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Hey Felix! Welcome to BiggerPockets! You’re in the right place to learn about remote investing. I can’t speak much about other markets, but as someone who started off in Columbus, and grew up in Cleveland. I would say, the Ohio market in general is a very beginner friendly state to get started with your real estate journey. I have seen so much growth in Columbus when it comes to appreciation and job opportunities which I have experienced. On average, 80 people move into Columbus weekly. On the other hand, if you have a lower budget, let’s say $100-$150k. Cleveland would be a great market for you. I have experienced cash flow anywhere from 10-18% with so much more to offer. As a real estate agent and an investor, I am on the market daily and explore opportunities for myself and my clients.

    Let me know if you need assistance.

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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    2y
    Quote from @Felix Lilly:

    Hey bp. 

    I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

    Thank you. 


    It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s long-distance investing strategy and consists of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to invest in any market confidently.

    As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio. I am also looking to invest in Cincinnati and Cleveland.
    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    2y
    Quote from @Felix Lilly:

    Hey bp. 

    I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

    Thank you. 



    Hey Felix, I would check out the Columbus market. It has been booming for the past couple of years with strong job growth and population increase. I personally invest here for both the cash flow and appreciation. I recommend looking into areas near economic bases - close to Nationwide Children’s Hospital, Ohio State Campus, New Albany, etc.

    Most of my clients purchase turnkey investment properties in areas like Old North, Merion Village, Southern Orchards, Old Towne East/King-Lincoln Bronzeville, Driving Park, North Linden, North Hilltop, Franklinton, Reynoldsburgh, and Hungarian Village.

    My BRRRR and Fix & Flip Investors like to buy in areas like Eastmoor, Hilltop, Whitehall, and Linden. These areas have appreciated a ton and have seen a lot of growth.




    [email protected]614-802-5698
    ReafCo | Ahmed Group 539 Reviews
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    3Reply
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    2y

    @Felix Lilly
    If you are looking at investing out of state for positive cash flow I would check out Cleveland OH. It's landlord-friendly, has a low barrier of entry, and cash flows.


    [email protected]614-412-4565
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  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    Hey Felix,

    Columbus, Ohio is a great market to consider if you're leaning towards appreciation. Multiple, billion dollar companies are investing investing heavy in our area, such as Intel, Google, and Amazon. Which in turn will bring plenty of other investors and general business to the area. I moved here from Florida after seeing the projected growth.

    [email protected]614-662-1652
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  • Chris Watkins
    Lender · Eugene, OR · Member since 2021 · 245 posts · 154 votes
    2y
    Quote from @Felix Lilly:

    Hey bp. 

    I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

    Thank you. 


     It also depends on your definition of return is. If you say that cash flow is the most important aspect of a return, then the midwest or south can offer that with a lower price point. But they can't consistently provide the appreciation that Oregon and coastal markets do. In my opinion, appreciation is more important and cash flow is nice to have, but not necessary at the outset. It's a long-term strategy, so you have to think in 5-10 year windows or longer. 

    The second aspect is knowing your market. You can build a team and invest out-of-state, but for many people it is better to start where they live to have the best understanding of the market and the property itself. Because Oregon is (depending on where you are) a more expensive state, just buying a turnkey property on market with 25% down isn't going to cash-flow. You'll need to add value through renovation or changing occupancy (STR, MTR, etc..). But because we have so little inventory, prices will stay more stable and increase accordingly over time.

    My recommendation is to house hack somewhere where you can add value and use a primary residence loan to lower your upfront costs and interest rate. Learn the ropes with your own place, then look to expand outward from there. 

    Happy to chat more, DM if you want to dive deeper.

    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Felix Lilly:

    Hey bp. 

    I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

    Thank you. 

    Hi Felix, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!

    [email protected]614-300-7535
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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Felix Lilly

    When you invest in real estate out of state, you can potentially see higher returns on your investment. To discover a good property or apartment, begin by looking into markets that have high rental demand, job growth, population growth, and affordable housing prices. You can choose from single-family homes, multi-family properties, apartment buildings, or other rental properties. Establish your investment standards, such as your budget, desired cash flow, return on investment, risk tolerance, property size, location preferences, and potential for appreciation.

    Work together with local real estate agents, property managers, and contractors to get help. Analyze properties carefully, estimate potential earnings, and understand the laws and rules in your area. Make sure to see properties in person or schedule inspections by experts. Look into financing choices, create a plan to manage risks, and connect with fellow investors. Following these steps will enhance your chances of locating a property or apartment that offers profitable cash flow prospects.

    Good luck!

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  • Maureen McCann
    Investor · San Diego, CA · Member since 2024 · 78 posts · 54 votes
    2y

    Hi Felix, Are you open to owning a share in the apartment building or do you want to own the entire complex outright?  I have 2 good connections to help if you want to own a share in a multi-unit. I have personally invested with both referrals so I can speak from personal experience that both operators are reputable.  DM me if you'd like to get connected to them. Cheers!

    0Reply
  • Maureen McCann
    Investor · San Diego, CA · Member since 2024 · 78 posts · 54 votes
    2y

    Check out Loopnet.com too. You can find multi-units there. 

    0Reply
  • Anthony L Amos Jr
    Real Estate Agent · Columbus | Toledo · Member since 2019 · 608 posts · 768 votes
    2y
    Quote from @Felix Lilly:

    Hey bp. 

    I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

    Thank you. 


     Ohio is where it's at! We have multiple cash flowing markets and some of the largest investments in the State's history happening now with Intel and Honda. 

    1Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Felix Lilly given how you've worded your request, it appears you know little and have done little of your own research.

    This makes you an easy mark to target by the thieves here on BP!

    You're better off investing in a REIT - unless you want to actually put some effort into figuring out investing.

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  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y
    Quote from @Felix Lilly:

    Hey bp. 

    I want someone to help me find a property or apartment that will yield me a return on my investment. I do have some up front capital. I live in Oregon and I am familiar with it here; however which ever state has the best return on invest I am open to the idea of investing out of state as long as it will cash flow. What would all of you recommend? If there are any of you who already own apartment buildings or properties (?) I would love to hear from you! 

    Thank you. 


     Hey Felix, Cincinnati and Northern Ky have cash flowing properties posted right now. Quite a few as of last week actually, shoot me a DM if you are interested in the market!

    [email protected]859-443-4952
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