New Member Introductions

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Monte Riding
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New to RE investing - Interested in remote

Monte Riding
Posted Sep 27 2022, 18:18

Hello!

I'm new to this, been listening to lots of BP and RE Rookie podcasts, which are great! Like many of you I'm here to learn and network.

Primarily interested in out of state investing - perhaps in OH or other markets much less expensive than UT. Considering a duplex as my first property. If you know of great markets to invest in, I'd love to hear about them - I'm all ears.

Reach out and say hi, I'd love to connect and am happy to share what I know about the Wasatch Front (Salt Lake) area!

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Julio Gonzalez
  • Specialist
  • West Palm Beach, FL
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Julio Gonzalez
  • Specialist
  • West Palm Beach, FL
Replied Sep 28 2022, 02:27

Glad to have you on the forum, Monte! There is a great group of members on here to connect with.

Welcome aboard and best of luck investing! 

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Monte Riding
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Monte Riding
Replied Sep 28 2022, 08:50
Quote from @Jaedon Roberson:

Hey Monte! I'm a wholesaler in the San Antonio/Austin area. I'd love to tell you more about my company if you're interested, we actually currently have two duplexes available in San Antonio, which is a more affordable market than Austin.

Let me know if you'd like to talk!

Jaedon


Thanks Jaedon! I'm still stuck in analysis paralysis and learning all I can. I'll research the San Antonio market and see if it checks the boxes - if it does I'll touch base. I've also heard great things about Austin, but like Salt Lake City it's out of my price range, at least to start.

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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied Sep 28 2022, 09:57

@Monte Riding
If you are looking at investing in OH I would definitely recommend Columbus OH. It's a solid hybrid market of cash flow and appreciation. Columbus has lots of job opportunities and population growth.

  • (614) 412-4565

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Justin Wright
  • Investor
  • New Hampshire.
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Justin Wright
  • Investor
  • New Hampshire.
Replied Sep 28 2022, 10:53
Quote from @Aj Parikh:

Out of state investing has never been easier than it is now. I am based in Northern Virginia but I invest primarily in Cleveland, OH. There are a lot of advantages of Cleveland but the major one is steady appreciation and good cash flow and the price point is pretty low to get started. I worked with a couple of turnkey companies to get started to let me know if that is an approach you want to explore, I would love to discuss. 


 I am new to RE investing and intrested in the Ohio area. I would love to discuss some potential turnkey companies to get a better under of the areas. 

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Sean T.
  • Rental Property Investor
  • MA
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Sean T.
  • Rental Property Investor
  • MA
Replied Sep 28 2022, 12:30

Welcome and good luck!  I operate across many states in the SouthEast and still see good numbers.  Good luck out there!

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Remington Lyman
  • Real Estate Agent
  • Columbus, OH
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Remington Lyman
  • Real Estate Agent
  • Columbus, OH
Replied Sep 28 2022, 12:50
Quote from @Monte Riding:

Hello!

I'm new to this, been listening to lots of BP and RE Rookie podcasts, which are great! Like many of you I'm here to learn and network.

Primarily interested in out of state investing - perhaps in OH or other markets much less expensive than UT. Considering a duplex as my first property. If you know of great markets to invest in, I'd love to hear about them - I'm all ears.

Reach out and say hi, I'd love to connect and am happy to share what I know about the Wasatch Front (Salt Lake) area!


 Welcome!

  • Real Estate Agent Ohio (#2019003078)

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Melanie Thomas
  • Real Estate Broker
  • San Antonio
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Melanie Thomas
  • Real Estate Broker
  • San Antonio
Replied Sep 28 2022, 13:16
Welcome! San Antonio is a great place to invest. Happy to chat if you have any questions. Good luck & happy investing!

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Steve Donovan
  • Rental Property Investor
  • Green Bay, WI
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Steve Donovan
  • Rental Property Investor
  • Green Bay, WI
Replied Sep 29 2022, 06:42

Hello @Monte Riding Wisconsin offers great ROI and low cost of entry investment opportunities. Feel free to reach out to me if you would like additional information. And as I've said often in these forums:

Many new investors look to turnkey to get started, as it provides an entry point that requires less hands-on and allows an investor to participate in markets that offer higher returns. If you go this route it is important to realize that there is no common definition of turnkey. In terms of rehabbing the property, the workflow can range from throwing a coat of paint on a wall or two, to an entire gut of the mechanicals, windows, siding, and flooring. Some providers take the approach that a furnace or water heater with several years of expected life shouldn't be replaced in the rehab, but that the final product should be priced accordingly. That furnace will need to be replaced in the next few years, but just not yet... Some turnkey companies sell the property to investors at the point where the rehab work is identified and quoted, but not yet completed. The investor then waits for completion and tenant selection prior to earning any income. Other providers sell the units only after the rehab is completed and the tenant in place.

Any turnkey investor should ask very probing questions of the turnkey provider regarding the condition of all mechanicals, roof and windows prior to entering into a deal. As you will soon find, there is no common definition of a turnkey property, and it can be very risky (and expensive) to make any assumptions.

The ongoing management of the property is another area of vastly different approaches to turnkey investments. Some providers simply sell the property and the investor is left to find a management company, maintenance personnel, snow and lawn care providers, etc. Other providers offer up recommendations for these services, and still other turnkey companies offer these services as part of their overall package. The range of offerings is great, and no assumptions should be made; you need to ask very specific questions regarding who is to do what.

All the best to you as you begin your investment journey!

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Scott Sklare
  • Real Estate Broker
  • Beloit, WI
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Scott Sklare
  • Real Estate Broker
  • Beloit, WI
Replied Oct 2 2022, 06:08
Quote from @Monte Riding:

Hello!

I'm new to this, been listening to lots of BP and RE Rookie podcasts, which are great! Like many of you I'm here to learn and network.

Primarily interested in out of state investing - perhaps in OH or other markets much less expensive than UT. Considering a duplex as my first property. If you know of great markets to invest in, I'd love to hear about them - I'm all ears.

Reach out and say hi, I'd love to connect and am happy to share what I know about the Wasatch Front (Salt Lake) area!


 Hello Monte, congratulations.

Great out of state investment opportunities in south central Wisconsin.  15%-20% cash on cash.  I would be happy to visit with you. Check your inbox.