New investor looking to purchase out of state

San Diego, California
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New investor looking to purchase out of state

Noah Chiero
New to Real Estate · San Diego · Member since 2021 · 1 post · 10 votes

Hello Everyone,
My name is Noah and I currently reside in San Diego. I'm still in the research phase but I'm looking to pick up my first SFH property out of state. I'm hoping to connect with other California investors in the same boat and learn from people who successfully manage properties out of state. I Look froward to meeting and connecting with fellow like minded people.

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Samuel DioufBusiness Member
Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
2y

Hey Noah, 

I would first find a market that is suitable for you and showing signs of potential market growth. Then I would focus on growing relationships and building your core 4. Having a team in place is essential to long-distance investing. The core 4 consists of a realtor, contractor, property manager, and a lender. Once you have this team in place, you should have the foundation to invest in any market confidently while not being there physically.

There are some great opportunities in the Ohio markets. Many investors from California, are choosing to invest in the midwest because of the yearly returns making more sense in these lower priced markets.

[email protected]614-662-1652
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  • Nadeem Alamgir
    Real Estate Agent · Member since 2023 · 831 posts · 577 votes
    2y

    Welcome Noah! You should check out mid-west, like Ohio. Cleveland, Ohio, is a great market for out-of-state investors who are looking to get started.

    - landlord friendly

    - low entry to barrier

    - Stable market

    - strong cashflow

    - Opportunity zones

    - Section 8 rental

    DM if you have any questions! 

    2Reply
  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    Hey Noah, I'm a bit further north in the Central Coast. I invest in Detroit for myself (12 doors) and am extremely active there outside my own stuff.

    Happy to connect and talk about my experience in that market.

    1Reply
  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    Hey Noah, 

    I would first find a market that is suitable for you and showing signs of potential market growth. Then I would focus on growing relationships and building your core 4. Having a team in place is essential to long-distance investing. The core 4 consists of a realtor, contractor, property manager, and a lender. Once you have this team in place, you should have the foundation to invest in any market confidently while not being there physically.

    There are some great opportunities in the Ohio markets. Many investors from California, are choosing to invest in the midwest because of the yearly returns making more sense in these lower priced markets.

    [email protected]614-662-1652
    Reafco - Samuel Diouf528 Reviews
    WebsiteView Page
    3Reply
  • Corby GoadeBusiness Member
    Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
    2y

    I'm in Boise, ID and do lots of deals here. Idaho is probably the most landlord friendly state in the nation and it's a 90 minute flight from San Diego. 

    1Reply
  • Nate MeekerBusiness Member
    Real Estate CPA | California · Member since 2020 · 544 posts · 251 votes
    2y

    @Noah Chiero welcome to the world of real estate! I am from SD as well and purchased my first rental out in Florida during 2020 and it was the best decision I could have made as the market out here in SoCal is difficult to break into. I have had a lot of success out in Florida; own three homes now!

    You are doing great so far. Just keep looking for a deal!

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    2Reply
  • Bradley BuxtonBusiness Member
    Real Estate Agent · NV · Member since 2023 · 1k+ posts · 716 votes
    2y

    @Noah Chiero

    Lots of choices out of California.  Why are you investing?   How much time do you have to dedicate to your investments?  Make a list of potential markets and factor in your travel time to and from each time you will need to visit the property. It might become more clear about where to invest. I recommend CA residents look at Reno, Nevada because of the proximity, landlord friendly, low property taxes, and influx of high wage jobs and strong appreciation. 

    0Reply
  • Amara Berg
    Member since 2023 · 14 posts · 10 votes
    2y

    Hi Noah,

    I hope you're doing well. I wanted to let you know that I have also been investing in real estate outside of California. In fact, I've been flipping properties in San Diego for the past three years. Recently, I joined a network of multifamily investors and we've been exploring emerging secondary and tertiary markets in states like Georgia, Texas, Oklahoma, and Idaho.

    I would love to connect with you and chat about our experiences. It's always fun to be on this journey with others who are doing the same thing. I currently have a few single-family homes and I recently gave all of my tenants notice. If you're interested, I can share with you why I did that and my strategy moving forward over coffee anytime.

    Please feel free to DM me if you're interested in connecting.

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

    @Noah Chiero contact @Travis Biziorek to get a property, then contact us to manage it:)

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  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Noah Chiero:

    Hello Everyone,
    My name is Noah and I currently reside in San Diego. I'm still in the research phase but I'm looking to pick up my first SFH property out of state. I'm hoping to connect with other California investors in the same boat and learn from people who successfully manage properties out of state. I Look froward to meeting and connecting with fellow like minded people.


     I know dozens of investors from Ca that have purchased 100s of props and are still buying in the Midwest. 

    0Reply
  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    2y
    Quote from @Noah Chiero:

    Hello Everyone,
    My name is Noah and I currently reside in San Diego. I'm still in the research phase but I'm looking to pick up my first SFH property out of state. I'm hoping to connect with other California investors in the same boat and learn from people who successfully manage properties out of state. I Look froward to meeting and connecting with fellow like minded people.


     Hi Noah, best of luck. Let me know if there are any questions I can help answer about the Midwest market. 

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

    Hey Noah! Welcome aboard! I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

    Here is a summary of the book.

    https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greene

    Can't wait to see you grow. Let me know how I can help!

    [email protected]614-412-2912
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    0Reply
  • Zee D.
    New to Real Estate · San Diego, CA · Member since 2023 · 10 posts · 5 votes
    2y
    Quote from @Amara Berg:

    Hi Noah,

    I hope you're doing well. I wanted to let you know that I have also been investing in real estate outside of California. In fact, I've been flipping properties in San Diego for the past three years. Recently, I joined a network of multifamily investors and we've been exploring emerging secondary and tertiary markets in states like Georgia, Texas, Oklahoma, and Idaho.

    I would love to connect with you and chat about our experiences. It's always fun to be on this journey with others who are doing the same thing. I currently have a few single-family homes and I recently gave all of my tenants notice. If you're interested, I can share with you why I did that and my strategy moving forward over coffee anytime.

    Please feel free to DM me if you're interested in connecting.


     Hi Amara,

    I just sent you a message.

    0Reply
  • Zee D.
    New to Real Estate · San Diego, CA · Member since 2023 · 10 posts · 5 votes
    2y
    Quote from @Noah Chiero:

    Hello Everyone,
    My name is Noah and I currently reside in San Diego. I'm still in the research phase but I'm looking to pick up my first SFH property out of state. I'm hoping to connect with other California investors in the same boat and learn from people who successfully manage properties out of state. I Look froward to meeting and connecting with fellow like minded people.


     Hi Noah,

    I am also in San Diego and in the same boat. It is not easy to find a deal these days especially in San Diego. I am also thinking of investing out of state. Have you looked at any out of state markets yet?

    0Reply
  • Bob S.
    Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
    2y
    Quote from @Noah Chiero:

    Hello Everyone,
    My name is Noah and I currently reside in San Diego. I'm still in the research phase but I'm looking to pick up my first SFH property out of state. I'm hoping to connect with other California investors in the same boat and learn from people who successfully manage properties out of state. I Look froward to meeting and connecting with fellow like minded people.


    Do what many investors (100s and 100s) have done over the years and are still doing, buy in the Midwest. I just closed an hour ago, 2 br, all in 55k, yes 55k, rent will be 1200, THATS a deal, and NO not a war zone, ARV about 95- 100k. Went to contract 10 minutes ago, for a duplex, all in full reno, 80k, rented for 22k a year about 15k net, do the math. I get deals like this all the time. Best part I live in FL,

    All the best 

    0Reply
  • Brendan Harrison
    Real Estate Broker · Tulsa, OK · Member since 2020 · 157 posts · 67 votes
    2y

    Hey Noah! I'd love to talk to you about investing in Oklahoma. I work with a few OOS investors from California who buy in OKC/Tulsa.

    0Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
    2y

    Welcome to BiggerPockets Noah!

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    1Reply
  • Lane Kawaoka
    Rental Property Investor · Honolulu, HAWAII (HI) · Member since 2011 · 4k+ posts · 2k+ votes
    2y

    I used to buy turnkey rentals in Birmingham, Atlanta, Indianapolis, when I first started. Great way to by first few rentals especially if in high price CA.

    0Reply
  • Grant SchroederPro Member
    Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 599 posts · 312 votes
    2y

    Hey @Noah Chiero! Definitely connect with @Corby Goade about the treasure valley in Idaho. Lots of deals and opportunities to be found with him and his team!

    [email protected]541-231-1256
    1Reply
  • Corby GoadeBusiness Member
    Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
    2y
    Quote from @Grant Schroeder:

    Hey @Noah Chiero! Definitely connect with @Corby Goade about the treasure valley in Idaho. Lots of deals and opportunities to be found with him and his team!

    Thanks Grant, appreciate the vote of confidence!

    @Noah Chiero, happy to chat if you like. 

    1Reply
  • Twana RasoulBusiness Member
    Real Estate Agent · San Diego, CA · Member since 2017 · 1k+ posts · 1k+ votes
    2y

    @Noah Chiero Welcome! As a local investor in San Diego myself who used to invest in the Midwest...the low prices can be very enticing but make sure you really know the market first and what you are getting into before pulling the trigger...when you are out of state you are at a disadvantage as properties can differ quite heavily from block to block. Fun fact to keep in mind, major capex items on a 100k house and on a 800k house are pretty similar, i.e. cost of replacing a roof. Look at overall ROI vs just cashflow on paper, especially since cash flow on paper vs reality can be 2 different things.

    Best of luck on your endeavor!

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  • Christian Torres
    Investor · San Diego, CA · Member since 2023 · 5 posts · 12 votes
    2y

    Hi Noah! I am in San Diego as well, and looking for properties out of state also. We should connect!

    0Reply
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