Looking to get into out of state investing

Jimmy LieuBusiness Member

Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes

[email protected]614-300-7535

Welcome, Daniel. Coming from small multifamily in Providence and Pawtucket, you already know how to underwrite, so the Ohio learning curve is mostly about neighborhoods and your local team. Columbus is a good place to start because price points are friendly compared to Rhode Island: single families mostly run $120K-$180K and multifamily starts around $200K, and a lot of the deals I look at hit the 1% rule and still cash flow after every expense. Many also come with $20K-$30K of built-in equity at purchase, and Ohio's landlord-friendly rules make remote ownership easier.

For evaluating neighborhoods, I'd drive or video-walk each block, check rent comps against what's actually leasing, and focus on B- and C+ areas where the numbers work without taking on a gut rehab. Vet property managers on how they handle turnovers and evictions, since that's where remote owners feel it most. Verify the numbers on every deal.

Feel free to connect, and I'm happy to make introductions to investor-friendly team members here in Columbus as you narrow it down.

Jimmy Lieu, Red 1 Realty4.9122 Reviews

1 Reply

Wale LawalBusiness Member

Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes

[email protected]832-776-9582 Podcast Guest on Show #469

@Daniel Longwe

With your ownership of a small multifamily apartment in Rhode Island, that is already a strong foundation to go from. As for Ohio, my recommendation would be to analyze Columbus versus Cleveland by comparing block to block, in terms of rental prices, property tax rates, maintenance charges, and good local property managers.

Good luck!

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Inder Singh

Real Estate Agent · Boston, MA · Member since 2025 · 48 posts · 17 votes

Daniel — I'm in multifamily here in MA and RI, and I've looked hard at out-of-state deals myself. The lesson that keeps proving out: the team comes before the deal. A solid local PM and boots-on-the-ground partner in Columbus or Cleveland matters more than a spreadsheet that pencils from 1,000 miles away — one bad tenant placement or a repair you can't verify eats the paper return fast. Underwrite with real local numbers, not the listing's. Happy to compare notes — DMs open.

1 Reply

Jeremy White

Member since 2026 · 32 posts · 17 votes

Daniel, you already know how to underwrite, so for Ohio the slow part is usually finding off market sellers from far away and knowing where activity is picking up. For Columbus we gather residential building permit filings and the Franklin County certified delinquent tax parcels from official city and county records, and for Cleveland the residential permit filings, one-time, not a subscription. Are you leaning Columbus or Cleveland first?

James Wise

Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 31k+ posts · 20k+ votes

Holla

Drew SygitBusiness Member

Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes

[email protected]248-209-6824

Check in with @Remington Lyman

Logical Property Management4.9469 Reviews

1 Reply

Ryan BrownPro Member

Real Estate Agent · Louisville, KY · Member since 2022 · 54 posts · 11 votes

[email protected]502-889-0122

@Daniel Longwe welcome. Columbus and Cleveland are both solid, and the advice above about building the team first is right. I'd just add one more market to your list before you commit: Louisville. I'm an agent here and an investor too (I have two rent-by-the-room buildings, and I sold a 10-unit this August). A lot of my clients are out-of-state investors, so Louisville vs. Ohio is a comparison I get asked about a lot.

Here's why I think it's worth a look coming from Rhode Island:

Price. The RI multifamily median was $600K last month. Right now there are about 50 duplexes for sale in Louisville with a median around $260K, and fourplexes are running around $394K.

Room to negotiate. About 1 in 4 active listings here have been sitting 90+ days. There's room on price that just wasn't there a couple of years ago.

Housing stock you already know. Old Louisville, Germantown, and the South End are full of older brick duplexes and fourplexes, a lot like the 2- and 3-families around Pawtucket. Same kind of underwriting at a fraction of the price.

Jobs that aren't one industry. UPS Worldport, two Ford plants, GE Appliances, Humana, and the hospital systems. Tenant demand doesn't ride on one employer.

I also work with local lenders who are comfortable financing out-of-state buyers, which is usually the first thing people ask about.

If you want to see how it stacks up, send me your buy box and I'll pull what's actually on the market here so you can run it side by side with what you're seeing in Columbus. No pressure either way. It's just good to have something to compare against.

Mike PaolucciBusiness Member

Realtor · Columbus Cleveland Dayton, OH · Member since 2022 · 502 posts · 553 votes

[email protected]614-892-9184

Quote from @Daniel Longwe:

Hey everyone!

I’m a small multifamily investor in the Providence and Pawtucket, RI area, and I’m looking to expand into out-of-state investing, specifically Ohio and the Columbus/Cleveland markets.

I’m currently working on learning the Ohio market, understanding which areas offer the best opportunities, and figuring out how investors are finding deals, evaluating neighborhoods, and building relationships with local teams.

I’d love to connect with anyone currently investing in Ohio, especially those with experience in the market who would be willing to share some knowledge or advice with someone looking to get started.

Whether it’s talking about specific markets, deal analysis, property management, finding off-market deals, or lessons you’ve learned along the way, I’d really appreciate the opportunity to learn from your experience.

Always looking to connect with like-minded investors and build relationships. Feel free to comment below or shoot me a DM. Looking forward to connecting with you all! 🤝

Welcome to BP. I got started off in 2021 as an OOS investor in the Columbus market as well. Happy to connect and give you some insights on the markets here in Ohio.

Reafco - Mike Paolucci 512 Reviews

Alfath AhmedBusiness Member

Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes

[email protected]614-802-5698

@Daniel Longwe Good to connect!

I personally own 30+ rental units and have brokered 275+ deals, majority of them with OOS investors across ohio.

Columbus is great for BRRRR, equity plays and long-term appreciation while Cleveland is more cashflow heavy. I would focus on finding a good investor agent who can help with deal flow and connect you with the right team.

I've built a network of 600+ lenders, contractors, PMs, and wholesalers over the years. Also put together neighborhood graded maps, contractor spreadsheets, and investor packages for these markets. Happy to share my resources and help you get familiar with Ohio. Shoot me a PM!

ReafCo | Ahmed Group 533 Reviews

[email protected]614-541-8475 Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals

Remington LymanBusiness Member

Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes

3d

Happy to connect Daniel. I have been investing in he Columbus, Ohio market since 2017

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[email protected]330-548-3340

Ryan BakerBusiness Member

Lender · Strongsville / Cleveland, OH · Member since 2026 · 49 posts · 8 votes

2d

Hi Daniel, welcome to looking at Ohio. I'm a lender based in Strongsville, just south of Cleveland, and a lot of the out-of-state investors I work with come from higher-priced markets like yours because the price points here are lower and rents can still cover the debt.

A few things that help when you're starting in Cleveland. Get your financing lined up before you shop, so you know whether you're buying with a DSCR loan, a conventional investor loan, or a short-term rehab loan, since that changes which neighborhoods and property conditions make sense. Cleveland can change street by street, so lean on a local agent and walk-throughs or video tours before you offer. And line up a property manager and contractor early, because out-of-state deals depend on good people on the ground. My company also runs construction and property management here, so I see a lot of the rehab and management numbers firsthand.

If it would help, I'm happy to walk through how financing could look for your first Ohio property on a quick call. My direct line and email are on my profile.

(Drafted with AI assistance.)

[email protected]513-646-1038

Jordan FioreBusiness Member

Real Estate Agent · Cincinnati, OH · Member since 2020 · 193 posts · 147 votes

2d

Team first, deal second — that's the whole game out of state. Line up an investor-focused agent and a property manager before you buy, and verify rents with the PM, not the listing. Columbus and Cleveland are different animals: Columbus leans growth and appreciation, Cleveland leans cash flow but it's block-by-block.

If Ohio is on your radar more broadly, Cincinnati sits in between those two profiles. Happy to share what I'm seeing here too.

Jordan Fiore, Realtor - eXp Realty566 Reviews

[email protected]614-418-6081

Arman AhmedPro Member

Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 966 votes

2d

Quote from @Daniel Longwe:

Hey everyone!

I’m a small multifamily investor in the Providence and Pawtucket, RI area, and I’m looking to expand into out-of-state investing, specifically Ohio and the Columbus/Cleveland markets.

I’m currently working on learning the Ohio market, understanding which areas offer the best opportunities, and figuring out how investors are finding deals, evaluating neighborhoods, and building relationships with local teams.

I’d love to connect with anyone currently investing in Ohio, especially those with experience in the market who would be willing to share some knowledge or advice with someone looking to get started.

Whether it’s talking about specific markets, deal analysis, property management, finding off-market deals, or lessons you’ve learned along the way, I’d really appreciate the opportunity to learn from your experience.

Always looking to connect with like-minded investors and build relationships. Feel free to comment below or shoot me a DM. Looking forward to connecting with you all! 🤝

Hey Daniel, happy to connect! I’m an active investor and Realtor working closely in Cleveland, Columbus, and Dayton. The Midwest has some solid opportunities for small multifamily and cash flow-focused investors, especially if you know where to look. I’d be happy to share some local insights and connect you with reliable boots-on-the-ground resources as you explore Ohio.