Hey Michelle - I know of some turnkey options in the Akron & Canton, OH markets (outside of Cleveland) under 200k with strong seller incentives and property management already in place. Feel free to DM me so we can discuss more.
I’m new to the bigger pockets community but I’ve been watching you all for a while. Looking forward to engaging and interacting with all of you.
Hi @Michelle Mack, welcome to the BP Forum! What type of properties most interests you, SFR, 2-4 MF, or 5+ MF? What is your price range/down payment amount? Are you looking for turn-key properties or something along the lines of a "fixer upper"? Are you looking for properties in your local market or somewhere else?
I’m mostly interested in multi family homes, 2-6 doors max. I’m not interested in my area as I believe I’m priced out but I am looking in Ohio investments. Mainly turn keys that are already rented or minimal upgrades to make rent ready.
At the moment I’m working towards a 20% down payment rate as I am not able to do house hacking at the moment. Max price range right now is $250k for purchase.
I’m mostly interested in multi family homes, 2-6 doors max. I’m not interested in my area as I believe I’m priced out but I am looking in Ohio investments. Mainly turn keys that are already rented or minimal upgrades to make rent ready.
At the moment I’m working towards a 20% down payment rate as I am not able to do house hacking at the moment. Max price range right now is $250k for purchase.
That's great info, @Michelle Mack. Not sure if you're looking in Columbus, but what about this duplex: 104-106 N Hague Ave, Columbus, OH 43204?
I'm "new-ish" to BP myself. Welcome! Good to have you.
That CA market is definitely pricing so many people out.
Juan-
Surprisingly, Phoenix which is quite a closer, has properties in the range you are looking for. When you do creative financing, it's about a $50,000 for entry. Unless youo have a reason to enjoy crispy cold weather. Lol
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
11mo
Hey @Michelle Mack, I’d recommend starting by focusing on one or two markets that interest you and getting to know the rental demand, average rents, and price-to-rent ratios there. From my experience, it’s easy to get overwhelmed chasing deals everywhere, but real traction comes once you really know one market inside and out.
Investor · Boise, ID · Member since 2019 · 233 posts · 188 votes
10mo
Welcome @Michelle Mack! My in-laws are in Sacramento, we travel there a bit from Boise. Hope you are able to find some good stuff here, and most importantly, take small actionable steps consistently over a long period of time - thats the wealth builder and the difference maker. Let us know how we can help!
hi Michelle and welcome. i totally get that your immediate area is expensive. i would just caution you about picking a random property in Ohio and buying it. we see CA investors who do exactly that without knowledge of the local area or the right team in place, or even with the right team but without proper expectations for how much money they're going to spend, and it seems to set them backward.
@Nicholas L. Hi Nicholas! Thank you for the information! I see I'll be bugging you a lot!! Lol
i totally understand your caution as I am planning to go there and spend the summer in the area getting to know the market! I've given myself a two year timeline to purchase so I'm not in a rush and I don't want to bite off more than I can handle! I appreciate you and your words! Will do!
Hey Michelle - I know of some turnkey options in the Akron & Canton, OH markets (outside of Cleveland) under 200k with strong seller incentives and property management already in place. Feel free to DM me so we can discuss more.
Investor · Roseville, CA · Member since 2009 · 1k+ posts · 583 votes
10mo
@Michelle Mack I am a local mortgage broker who has also invested out of state. The toughest part about investing out of state is the finding a honest competent property manager. I was referred to a property manager in St louis back in 2014. He ended up ripping off a bunch of out of state investors. He was prosecuted but people never received compensation back. I do have a great property manager in Tennessee. The good ones are out there but hard to find. You best bet is try to find local wholesalers in the city that you choose to buy in so you can just purchase discounted properties. good luck in your journey.