Out of state investing HELP
Member since 2022 · 3 posts · 9 votes
Out of state investing HELP
Most Popular Reply
Realtor · OH · Member since 2026 · 122 posts · 77 votes
7moQuote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Hey Jose, getting that first property under your belt is a massive win, but it is completely normal to freeze up when expanding out of state because the numbers on a screen never tell the whole story! As an investor-focused agent out here in Ohio, the honest truth I tell my clients is that our markets are fiercely block-by-block; a property boasting a massive 20% return on a spreadsheet is almost always a D-class headache in real life, where your profits will be instantly devoured by high turnover, evictions, and ancient plumbing. To break through that analysis paralysis, you have to stop trusting random internet listings and lean on a boots-on-the-ground team to guide you toward stable B and C-class neighborhoods where a reliable 8% to 10% Cash-on-Cash return is actually achievable without the drama.
25 Replies
- 7moMike PaolucciBusiness MemberRealtor · Columbus Cleveland Dayton, OH · Member since 2022 · 504 posts · 556 votes
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Hey @Jose Rincon. Happy to help out. Don't get discouraged. Going through multiple properties is part of the game. Just need to figure out what is holding you up!
1. Are you only looking at Toledo or are you open to looking at other markets?
2. What strategy are you trying to employ?
3. What do you see as your bottle neck?
Reafco - Mike Paolucci 512 Reviews- Member since 2022 · 3 posts · 9 votes7moHey @Mike Paolucci ,
Quote from @Mike Paolucci:
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Hey @Jose Rincon. Happy to help out. Don't get discouraged. Going through multiple properties is part of the game. Just need to figure out what is holding you up!
1. Are you only looking at Toledo or are you open to looking at other markets?
2. What strategy are you trying to employ?
3. What do you see as your bottle neck?
1.I'm open to other markets as well.
2. I'm not too sure yet on what direction I want to go. I would be interested in BRRR eventually but I want to start with something less hands on for the first out of state purchase. I'm more interested in the multifamily game.
3. I feel like I'm not experienced enough and I'm missing something when I run numbers.
- 7moMike PaolucciBusiness MemberRealtor · Columbus Cleveland Dayton, OH · Member since 2022 · 504 posts · 556 votes
Sent you a DM
Reafco - Mike Paolucci 512 Reviews - Lender · Cleveland Ohio · Member since 2025 · 42 posts · 1 vote7moHey Jose, I am local here in Cleveland. Message me if you have some time for a quick call!
- 7moKerlous TadresBusiness MemberRealtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
@Jose Rincon, I’d buy it if it still puts money in your pocket after you budget for vacancy, repairs, management, taxes, and insurance, and a local property manager says the rent is real. If those two things check out and the area stays rented, that’s usually a solid deal to move on.
Kerlous Tadres | Reafco Real Estate542 Reviews- Member since 2022 · 3 posts · 9 votes7mo
Quote from @Kerlous Tadres:
@Jose Rincon, I’d buy it if it still puts money in your pocket after you budget for vacancy, repairs, management, taxes, and insurance, and a local property manager says the rent is real. If those two things check out and the area stays rented, that’s usually a solid deal to move on.
Thanks for the advice. I never thought of calling the property management companies in the area to verify rental info.
- Realtor · OH · Member since 2026 · 122 posts · 77 votes7mo
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Hey Jose, getting that first property under your belt is a massive win, but it is completely normal to freeze up when expanding out of state because the numbers on a screen never tell the whole story! As an investor-focused agent out here in Ohio, the honest truth I tell my clients is that our markets are fiercely block-by-block; a property boasting a massive 20% return on a spreadsheet is almost always a D-class headache in real life, where your profits will be instantly devoured by high turnover, evictions, and ancient plumbing. To break through that analysis paralysis, you have to stop trusting random internet listings and lean on a boots-on-the-ground team to guide you toward stable B and C-class neighborhoods where a reliable 8% to 10% Cash-on-Cash return is actually achievable without the drama. - 7moArman AhmedPro MemberReal Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 970 votes
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Totally normal to feel stuck at that stage. A lot of investors get analysis paralysis when looking at deals remotely. In the Midwest, a “good deal” usually comes down to buying at the right price with rents that comfortably cover the mortgage, maintenance, management, and still leave room for cash flow. Many people focus on solid rental demand and conservative numbers rather than trying to chase perfect deals. Once you run enough deals and build a reliable local team, it becomes much easier to pull the trigger with confidence. - 7moAlfath AhmedBusiness MemberReal Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Happy to help @Jose Rincon. I own 28 rental units here in Columbus and sell a ton of properties in Columbus, Cleveland and Dayton.
You should buy a house-hack as you first deal. You can buy a 2-4 unit property for 3.5% FHA or 5% down conventional loan. You can use rent prorations, seller credits, and security deposits to off-set your down payment amount. Do this every year, and occupy 1 room and rent the rest of the property out.
After doing that, buy a BRRRR/value-add deal. It's similar to flipping a home but instead of selling, you buy a run-down home, renovate it, rent it, then re-finance it out to get back a majority of your money. Some houses you can be out with money out of pocket. Read BRRRR by David Greene.
Connect with a good investor agent that can connect you with his team of contractors, lenders, property managers and off-market/on-market deal flow.
Good luck!
ReafCo | Ahmed Group 534 Reviews - Rental Property Investor · Chandler AZ and Sylvania, OH · Member since 2009 · 708 posts · 561 votes7mo
@Jose Rincon
My advice for you is to fly into whatever city you plan on buying in and drive the neighborhoods. I think you may find it eye opening seeing the housing stock in person. Returns on paper are not returns in reality in many of the neighborhoods in the rust belt.
I live in AZ and invest in OH.
- Investor · Charleston, SC · Member since 2018 · 198 posts · 87 votes7mo
@Jose Rincon, I invest out of state from South Carolina into Birmingham, AL. 10 doors, all with third party property managers. The analysis paralysis you're feeling is completely normal, and honestly it's a good sign because it means you're being careful.
Here's what helped me get past it. I stopped trying to evaluate deals in isolation and started with a simple framework: purchase price + rehab (if any) = total investment. Then I look at gross rent, subtract PM fees (8% to 10%), vacancy (8%), maintenance (10% of rent), insurance, taxes, and the mortgage payment. Whatever is left is my real cash flow. If I'm not clearing at least $150 per door per month after every real expense, I pass.
The biggest thing that changed my confidence was building a local team before buying. In order of priority: find a property manager first, then a contractor, then an agent. Most people do it backwards. They find a deal, scramble for a PM, and then wonder why things fall apart. Your PM is the person who will manage your investment every single day. Interview at least three. Ask how many doo@rJso steh eRyi nmcaonna,g eI, iwnhvaets tt hoeuitr omfa isnttaetnea nfcreo ma pSporuotvha lC atrhorleisnhao lidn tios ,B ihromwi ntghheaym ,h aAnLd.l e1 0t udronoorvse,r sa,l la nwdi twhh etthhierrd tphaeryt ys epnrdo pyeorut yi tmeamniazgeedr sm.o nTthhel ya nsatlaytseimse nptasr.a lTyhsaits lyaosut' roen ef emealtitnegr si sm ocroem ptlheatne lpye onpolrem atlh,i nakn,d bheocnaeusstel yo nicte' sy oau ghoaovde smiuglnt ibpelcea upsreo pietr tmieeasn,s ryeocuo'nrcei lbienign gw hcaatr eyfouulr.
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CTRh,e obri gcgaessht ptuhricnhga stehsa?t Tchhaatn'gleld smhya pceo nwfhiidcehn cdee awlass mbaukiel dsienngs ea floorc aylo ut.eam before buying. In order of priority: find a property manager first, then a contractor, then an agent. Most people do it backwards. They find a deal, scramble for a PM, and then wonder why things fall apart. Your PM is the person who will manage your investment every single day. Interview at least three. Ask how many doors they manage, what their maintenance approval threshold is, how they handle turnovers, and whether they send you itemized monthly statements. That last one matters more than people think, because once you have multiple properties, reconciling what your PM says happened against what your bank account shows becomes a real job.
On Ohio specifically, Toledo can work but be selective on neighborhoods. The purchase prices are attractive but make sure you're underwriting realistic rents and realistic vacancy. Some of those low price properties come with higher turnover and more deferred maintenance than the numbers suggest.
What's your financing situation? Are you looking at conventional, DSCR, or cash purchases? That'll shape which deals make sense for you.
- Investor · Charleston, SC · Member since 2018 · 198 posts · 87 votes7mo
Sorry about my reply above, the middle section got garbled somehow. Not sure what happened there. Here is the clean version of the full post:
@Jose Rincon, I invest out of state from South Carolina into Birmingham, AL. 10 doors, all with third party property managers. The analysis paralysis you're feeling is completely normal, and honestly it's a good sign because it means you're being careful.
Here's what helped me get past it. I stopped trying to evaluate deals in isolation and started with a simple framework: purchase price + rehab (if any) = total investment. Then I look at gross rent, subtract PM fees (8% to 10%), vacancy (8%), maintenance (10% of rent), insurance, taxes, and the mortgage payment. Whatever is left is my real cash flow. If I'm not clearing at least $150 per door per month after every real expense, I pass.
The biggest thing that changed my confidence was building a local team before buying. In order of priority: find a property manager first, then a contractor, then an agent. Most people do it backwards. They find a deal, scramble for a PM, and then wonder why things fall apart. Your PM is the person who will manage your investment every single day. Interview at least three. Ask how many doors they manage, what their maintenance approval threshold is, how they handle turnovers, and whether they send you itemized monthly statements. That last one matters more than people think, because once you have multiple properties, reconciling what your PM says happened against what your bank account shows becomes a real job.
On Ohio specifically, Toledo can work but be selective on neighborhoods. The purchase prices are attractive but make sure you're underwriting realistic rents and realistic vacancy. Some of those low price properties come with higher turnover and more deferred maintenance than the numbers suggest.
What's your financing situation? Are you looking at conventional, DSCR, or cash purchases? That'll shape which deals make sense for you.
- Investor · San Jose, CA · Member since 2026 · 14 posts · 11 votes7mo
The analysis paralysis thing is so real. I've been doing the same thing looking at Phoenix from California, just running numbers over and over and never feeling confident enough to pull the trigger. What got me was Kerlous's point about calling property managers to verify rents. That seems so obvious but I hadn't thought to do it before even making offers. I've just been relying on Zillow and the BP rent estimator and who knows how accurate those really are for a specific neighborhood. Has anyone here actually called PMs in their target market before they even had a property under contract? Wondering if that's a normal thing or if they just blow you off.
- 7moBradley BuxtonBusiness MemberReal Estate Agent · NV · Member since 2023 · 1k+ posts · 720 votes
Quote from @Ryan Kitchell:
The analysis paralysis thing is so real. I've been doing the same thing looking at Phoenix from California, just running numbers over and over and never feeling confident enough to pull the trigger. What got me was Kerlous's point about calling property managers to verify rents. That seems so obvious but I hadn't thought to do it before even making offers. I've just been relying on Zillow and the BP rent estimator and who knows how accurate those really are for a specific neighborhood. Has anyone here actually called PMs in their target market before they even had a property under contract? Wondering if that's a normal thing or if they just blow you off.
We will call multiple property managers, usually once under contract. Some have specialties (luxury, apartments, sfh), and others are hyperlocal to an area. Here in the Reno area, we also use rentcast, previous clients, along with proerty mangers. I found the BP rent calculator to be not very accurate. Also take into consideration proximity to freeways, railroads, and other barriers that might separate areas of high rents from low rents.
- Investor · San Jose, CA · Member since 2026 · 14 posts · 11 votes7mo
Good to know, appreciate the answer. I'll check out rentcast, hadn't heard of it before. The point about freeways and railroads is interesting too, I've been looking at comps without really thinking about what's physically separating one block from another.
- Real Estate Agent · Kansas City · Member since 2018 · 5k+ posts · 3k+ votes7mo
Happy to chat on KC if you are looking at a few markets. Solid Midwest one :)
- Member since 2022 · 30 posts · 8 votes7mo
I'm a agent / investor / licensed GC and inspector in central Arkansas good place to invest here. I'd definitely reccomend wherever you choose to invest you visit first and see several properties and spend 3 days familiarizing yourself, property managers are key in any market you need a full roster before you buy anything. Don't invest in any market without having a team in place first for you. If you don't have folks that are willing to help guide you even before the transaction they are not the ones who want to grow with you. Happy investing
- Investor · Austin, TX · Member since 2021 · 497 posts · 127 votes7mo
Going from one rental to two is where most investors overthink it and honestly the numbers in Ohio make it one of the more straightforward markets to expand in right now.
The simplest filter experienced investors use: does the rent cover all expenses and still cash flow, even conservatively underwritten? If yes at the right purchase price, it's worth a closer look.
The financing piece is usually less complicated than people expect too. DSCR loans qualify based on the property's rent income, not your personal financials, which means your existing rental doesn't hurt your ability to add another.
I work with investors expanding rental portfolios exactly like yours. Happy to show you what the financing looks like so you can underwrite deals knowing what your actual payment and terms would be. Sometimes that alone makes pulling the trigger a lot easier.
Is the main unknown for you the deal analysis side or the financing side?
- 7moJimmy LieuBusiness MemberReal Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votesExpanding your portfolio is exciting but totally normal to feel stuck at first—knowing what a “good deal” looks like takes a bit of practice. In Ohio, a good deal usually hits the 1% rule, meaning your monthly rent is about 1% of the purchase price, and it cash flows from day one. Look for single-family homes or small multis in the $120K–180K range where the rents are strong enough to cover mortgage, taxes, and expenses, and the neighborhoods have solid demand thanks to job growth and population growth. The state has a ton of big companies moving in or expanding, which drives consistent rental demand and long-term appreciation. Also, Ohio is very landlord-friendly, so evictions and tenant issues are usually smoother than in some other states. The key is running the numbers, factoring in rehab or maintenance costs, and making sure your cash flow and long-term appreciation potential make sense before pulling the trigger. Happy to connect and answer any questions you have!
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Jimmy Lieu, Red 1 Realty4.9124 Reviews - 7moDrew SygitBusiness MemberProperty Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Contact @Engelo Rumora with OZ Realty
Logical Property Management4.9462 Reviews- 7moEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Quote from @Drew Sygit:
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
Contact @Engelo Rumora with OZ Realty
Thanks Drew,
Dinner?
Hi Jose,
Happy to help.
A few quick tips:
1) You make money when you buy and not when you sell so buy cheap with a margin of safety.
2) Always underestimate your income and overestimate your expenses.
3) In Ohio like in most Midwestern sub $100,000 markets, building a large portfolio makes it perform much better over time so Think Big.
Feel free to reach out to us as our team get's many folks contacting us just to pick our brain before they have even purchase a property lol
Happy to help.
We did just a launch a Guerrilla Marketing campaign offering 6 months free PM for anyone joining for another local PM company so that's that lol
It will probably ruffle some feathers haha
Wishing you much success 🙏
- 5moRobert EllisBusiness MemberDeveloper · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
Quote from @Jose Rincon:
Hey community, I currently have one rental but want to expand my portfolio. Anybody willing to help walk me through what a good deal would look like in Ohio? I'm stuck and just keep looking but never pull the trigger due to unknowns. Any help would be appreciated!
A lot of investors get stuck looking for the perfect deal when what they really need is a clear buy box. Before analyzing another property, I'd define the exact criteria you're willing to buy: target cash flow, property type, neighborhood quality, price range, and whether you're prioritizing appreciation or income. Once those rules are set, most deals become an easy pass or an easy yes. What does your ideal property look like if you could buy it tomorrow?
Section 8 Launch52 Reviews The unknowns are exactly what stops most out of state investors. The agent mentioned B and C class neighborhoods, that’s the right instinct, but the real challenge is knowing which specific streets and blocks fall into which class when you’ve never been there.
I was in the same spot investing in Columbus remotely. Ended up building a tool that solves this, you enter any Ohio address and it tells you the neighborhood class, crime trend, rental demand, and gives you a straight verdict in 60 seconds. Helped me stop guessing and actually pull the trigger.
It’s called NoveraAI, 2 free reports no card needed. Happy to run one on any Toledo address you’re looking at if you want to share it.
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