New Investor Looking to Build Connections

Member since 2018 · 2 posts · 3 votes

Hello BP Family,

I am new to investing and I have been on Bigger Pockets for about a year now just educating myself and reading forums . I thought it was about time I introduced myself. I live in California and I am a full time registered Nurse. I have not made my first deal but I plan to in the next 3 months. I would love encouragement and advice on out of state investing and even partnerships. I look forward to being involved more here on BP. Thank you all for being so inspiring.

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Ryan IngramBusiness Member

Rental Property Investor · Dayton, OH · Member since 2017 · 246 posts · 225 votes

Dayton is a great market. I'm a bit biased because it is where I live and where all of my properties are...but I don't think you can beat the returns.

Let me know if you have any questions about Dayton and I'd be more than happy to help!

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Aaron Hale
Rental Property Investor · Santa Rosa Beach, FL · Member since 2018 · 182 posts · 63 votes
7y
Hi, @Monique Stewartand welcome! It’s great to hear you’re getting started. Any idea where you’d like to start looking?
0 Reply
Monique Stewart
OP
Member since 2018 · 2 posts · 3 votes
7y
Hi @Aaron Hale
I think my my best bet right now is the midwest market. I have been doing my research on cities such as Cleveland, Dayton, Milwaukee, Kansas City and parts of South Carolina.
1 Reply
Ryan IngramBusiness Member
Rental Property Investor · Dayton, OH · Member since 2017 · 246 posts · 225 votes
7y
Dayton is a great market. I'm a bit biased because it is where I live and where all of my properties are...but I don't think you can beat the returns.
Let me know if you have any questions about Dayton and I'd be more than happy to help!
2 Reply
Adam Gollatz
Rental Property Investor · Milwaukee, WI · Member since 2016 · 180 posts · 161 votes
7y
Hi @Monique Stewart. Welcome to the world of REI. The midwest can be a great starting market. Once you narrow down a city, start networking specifically for that area through local forums. Even better, plan a trip out to see the city, its neighborhoods, and maybe go to a local REI meetup. Most cities have them. You'll want to find a good property management company and a good realtor or wholesaler to get started. Im in the Milwaukee and Chicago and Twin Cities markets, so feel free to connect if you want to talk about any of those.
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Matt Maurice
Property Manager · Milwaukee, WI · Member since 2014 · 113 posts · 144 votes
7y
Welcome @Monique Stewart!

The midwest definitely has a lot going for it these days, and similar to Ryan above I'm a bit biased as I'm in Milwaukee. If your plan is to become an OOSI (out of state investor) I highly recommend the local meetups. You can get a TON of information from local REIA, association or less formal groups (in Milwaukee we have the Brew City REI Group).
Your team, particularly your property manager, is muy importante. BUT, I would encourage you to do as much research as you can including visiting the city and driving through some of the neighborhoods that your numbers seem to be pointing you to prior to spending a bunch of time talking to PM's. This time of year PM's are extremely busy, and they get a ton of calls from OOSI like yourself looking to dabble in a market. It's much easier to take an OOSI seriously when they have already done some research and spent some money to come visit the city they may invest in.
Best of luck!
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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
7y
Originally posted by @Monique Stewart:

Hello BP Family,
I am new to investing and I have been on Bigger Pockets for about a year now just educating myself and reading forums . I thought it was about time I introduced myself. I live in California and I am a full time registered Nurse. I have not made my first deal but I plan to in the next 3 months. I would love encouragement and advice on out of state investing and even partnerships. I look forward to being involved more here on BP. Thank you all for being so inspiring.
Welcome to the site Monique. A must read for any investor thinking about Cleveland is The Ultimate Guide to Grading Cleveland Neighborhoods. Many investors, especially those from California are often shocked by the low price points in Cleveland that they fail to properly analyze the level of risk in a given neighborhood. The Ultimate Guide should help with that.
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Alyssa Dyer
Rental Property Investor · Oklahoma City, OK · Member since 2017 · 1k+ posts · 694 votes
7y
@Monique Stewart exciting times!
My best advice is to develop a system for running numbers and then just compare numbers in each market. I love property tracker, it's super simple. I'm happy to help explain how to use that if you go for it. I know there are free tools on BP, but I just think property tracker is super simple.
Of course vetting your team is super important, but what sense does it make to fall in love with a team in Ohio and then find out that 3% taxes steal most of your cash flow for each deal!
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David Roe
Flipper/Rehabber · Dayton Ohio · Member since 2019 · 114 posts · 71 votes
7y
Welcome, Dayton Ohio is a great location!
1 Reply
Nicholas Parish
Rental Property Investor · Kansas City, MO · Member since 2019 · 40 posts · 19 votes
7y
@Monique Stewart

Welcome to the BP family and congrats on taking the first step toward financial freedom! It looks to me that you have done great research this far, keep it up! I am active in Kansas City, MO and would be happy to help if you have any questions.
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Brandon SturgillBusiness Member
Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
7y
@Monique Stewart welcome and congrats on taking the jump. There are lots of opportunities still in Midwest markets. I think the most common thing I see is the assumption of risk and ROI...folks love to see high ROI on paper, but it comes with risk. The most successful out of state investors in our market have firm criteria, reasonable expectations, and are prepared to pull the trigger when something good pops up. I've seen guys scale at a property a month, and others stumble for over a year before committing to an offer.
If you land in the Central Ohio market, I'd be glad to talk shop. Or I'm in SoCal as frequently as possible if you're in that neck of the woods ;)
Best of luck
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Olga M.
Investor · Lees Summit, MO · Member since 2018 · 74 posts · 33 votes
7y
Hello, @Monique Stewart, I am also from California, now a Missouri Realtor.
I've been with Keller Williams (CA/MO) since 2012. I work mostly with investors, my two biggest ones being from CA. They each have picked up 5+ SFR for flipping and rental portfolios just last year, with my help.
KC is a hot market. Let me know if I can be of service and answer any of your questions. Welcome to Bigger Pockets!
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Michael Ohara
Investor · HI · Member since 2017 · 328 posts · 124 votes
7y
Hi @Monique Stewart, I live in Hawaii but invest in Cleveland. You have made a great first step by reaching out to others and making connections. All the best.
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Monique Stewart of all the markets that you mentioned, personally, I think Kansas City has the best combination of cash flow and strong economic and demographic trends. We've been very active in KC for several years and have had a lot of success. Feel free to contact me if you want any advice or help.
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