Looking to connect with seasoned out of state multifamily investors

Out of State Investing
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Looking to connect with seasoned out of state multifamily investors

Nicholas AndreatosPro Member
Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes

Hi Guys,

I have a property out in Ohio and am looking to expand my portfolio. Im curious to hear from successful seasoned multifamily real estate investors what processes have made the successful.

Some areas I want to gain more knowledge in is:

-Network used to finding good tenants and fill units quickly

-Do you self manage or use a property management company

-Do you interact with tenants and have visibility into communications or let boots on the ground person deal with all of that

-How do you find good agents and contractors in your investment market

-Who do you have walk through property for inspections and let contractors in the units for bids?

I want to grow a big portfolio and am trying to nail down my processes and gain more insight and knowledge.

Thanks!

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

Welcome, Nicholas. Good to see another investor with an Ohio property looking to systemize before adding doors.

Matthew and James covered the PM-first approach well, so here is how to vet one. Interview three and ask each for average days vacant, tenant turnover rate, maintenance markup and spending approval limit, and a sample owner statement. Then compare their reviews with what current owners tell you. For tenants, hand your PM written screening criteria (income multiple, rental history, background) so they apply your standard instead of just filling units. For inspections, ask for dated photo reports at turns and annually, which gives you visibility without being the day-to-day contact.

On Ohio specifically, in my experience an uncontested eviction can wrap in about 30 days, which is one more reason consistent screening and quick action pay off. Which part of Ohio is your property in?

If it's useful, connect with me and we can trade notes as you build out your process.

[email protected]614-300-7535
Jimmy Lieu, Red 1 Realty4.9122 Reviews
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  • Matthew MorrowBusiness Member
    Investor · PA - NY - NJ · Member since 2019 · 853 posts · 301 votes
    2w

    @Nicholas Andreatos For out-of-state multifamily, a strong local PM handles the day-to-day with tenants, but you still want visibility, like regular reporting and the ability to step in when something's off. You can do some wonderful things with AI and software for tracking all of it now, but it's not perfect, and you're never 100% out of the mix. The best agents and contractors usually come from other investors already in that market, not cold searches. How many doors are you at in Ohio now?

    [email protected]484-791-6200
    CORE Team | Realty ONE Group Supreme548 Reviews
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    0Reply
    • Nicholas AndreatosPro Member
      OP
      Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes
      2w

      Hi Matthew,

      Thank you for your response! I totally hear you on that, and agree that retaining control and having visibility is key to being a successful investor. That is what I am trying to nail down. I currently have 2 doors and ready to deploy to get 4-5 more doors, so I want to make sure I do it correctly as I scale and look to deploy BRR and LTR strategies.

      0Reply
  • James JonesPro Member
    Investor · Collierville, TN 38017 · Member since 2017 · 876 posts · 615 votes
    2w

    I'm a Memphis investor with 236 doors, and your process list is the right thing to nail down early. I use a property manager — at scale nothing else works. The PM is the one who walks properties, lets contractors in for bids, and handles all tenant communication. I don't self-manage and I don't interact with tenants directly; the PM owns that relationship. Finding agents and contractors: the PM's referrals are worth more than anything online, because they know who actually shows up and bills fairly. Yes, you pay for the oversight — good management costs money, but a bad manager costs more. If you want to grow a big portfolio, build the team first and the doors follow.

    0Reply
    • Nicholas AndreatosPro Member
      OP
      Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes
      2w

      Hi James,

      Thank you for your response! Do you get to own the processes and systems of day to day operations or do you log into PM's portal and have visibility into everything? Also, what has made you successful when looking for good PM companies to invest with? I have heard horror stories of slow responses from PM to tenants, bad management, and slow tenant turnover/filling vacant units so I am slightly hesistant.

      0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2w

    Welcome, Nicholas. Good to see another investor with an Ohio property looking to systemize before adding doors.

    Matthew and James covered the PM-first approach well, so here is how to vet one. Interview three and ask each for average days vacant, tenant turnover rate, maintenance markup and spending approval limit, and a sample owner statement. Then compare their reviews with what current owners tell you. For tenants, hand your PM written screening criteria (income multiple, rental history, background) so they apply your standard instead of just filling units. For inspections, ask for dated photo reports at turns and annually, which gives you visibility without being the day-to-day contact.

    On Ohio specifically, in my experience an uncontested eviction can wrap in about 30 days, which is one more reason consistent screening and quick action pay off. Which part of Ohio is your property in?

    If it's useful, connect with me and we can trade notes as you build out your process.

    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9122 Reviews
    WebsiteView Page
    1Reply
    • Nicholas AndreatosPro Member
      OP
      Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes
      2w

      Hi Jimmy,

      Thank you for your response! I appreciate your insight into what to look for in a Property Management company when screening them. The problem imo with having a PM is you don't get to own the process and have to use the PMs process. I want a relationship where I call the shots on operations and systems and retain the visibility into maintenance request and pictures etc, but don't have to take emergency calls or texts from tenants. I have heard from other investors that self managed is the way to go to retain control. I currently have a self managed approach, without having to deal with day to day tenant calls/inquires. I am just trying to refine my process to learn more angles and what works best for other investor scaling from two doors to 15 to 30+.

      0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    2w
    Quote from @Nicholas Andreatos:

    Hi Guys,

    I have a property out in Ohio and am looking to expand my portfolio. Im curious to hear from successful seasoned multifamily real estate investors what processes have made the successful.

    Some areas I want to gain more knowledge in is:

    -Network used to finding good tenants and fill units quickly

    -Do you self manage or use a property management company

    -Do you interact with tenants and have visibility into communications or let boots on the ground person deal with all of that

    -How do you find good agents and contractors in your investment market

    -Who do you have walk through property for inspections and let contractors in the units for bids?

    I want to grow a big portfolio and am trying to nail down my processes and gain more insight and knowledge.

    Thanks!

    I have a portfolio of ~100 units. I manage all of my long-term rentals and have a property manager manage my STR/LTR

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
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    0Reply
  • Saif Ibrahim
    Investor · Dubai, Dubai · Member since 2020 · 20 posts · 4 votes
    2w

    Hi Nicholas! Lets connect!

    0Reply
    • Nicholas AndreatosPro Member
      OP
      Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes
      2w

      Hi Saif,

      I just sent a connect request. Look forward to connecting!

      0Reply
  • Matthew MorrowBusiness Member
    Investor · PA - NY - NJ · Member since 2019 · 853 posts · 301 votes
    1w

    @Nicholas Andreatos That's a great spot to be in. In our experience, 1 to 10 doors is a pretty straightforward system. Above that, you're dealing with a different animal, and it changes again around 30+. By then you need a solid team around you: contractors, agents, property management, and a back end with a CPA and legal. Building that team early, before you're scrambling, makes the next 4–5 doors a lot smoother. Have you narrowed down which markets you're looking at?

    [email protected]484-791-6200
    CORE Team | Realty ONE Group Supreme548 Reviews
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    1Reply
    • Nicholas AndreatosPro Member
      OP
      Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes
      1w

      Hi Matt,

      Thank you for your insight. I am getting my next property in Dayton OH and shooting for a 5-10 unit. I eventually want to deploy a PM company but I want to be hands on in the process before hand so when I do transition I know what a great one should be like and have the network and resources to continue to scale.

      0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    1w

    Based on your responses to those posting their responses, you want to maintain control of EVERYTHING.

    What you appear to need is to hire someone to work directly for you.

    You are welcome to do that, but it rarely scales.

    Also, some questions:

    How will you afford anyone with a decent skillset with only 2 current properties?

    How are you going to train someone if you don't really know what you are doing?

    You state you want to use your systems, NOT the systems of a PMC, but what makes your systems better?
    - Note: I've been doing this for 20+ years, still learn something new everyday, but pretty confident I know way MORE than you about managing rentals. So, why would I do it your way?

    Feel free to DM me if you'd like to schedule a chat to explore all this more🤪

    [email protected]248-209-6824
    Logical Property Management4.9469 Reviews
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    1Reply
    • Nicholas AndreatosPro Member
      OP
      Centreville, Fairfax County · Member since 2022 · 11 posts · 5 votes
      1w

      Hi Drew,

      I agree with what you’re saying and do have a lot less experience but that is what i am trying to build. My experience, my network, and my team of resources. I think I can manage it with a good team of contractors and agents until I hit 15-20 units then I need a PM.

      Thank you for the offer and happy to connect if you do work in Dayton, OH

      0Reply
    • Drew SygitBusiness Member
      Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
      1d

      We don't do business outside of Michigan, so my offer was just to help you out.

      [email protected]248-209-6824
      Logical Property Management4.9469 Reviews
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      0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 966 votes
    1w
    Quote from @Nicholas Andreatos:

    Hi Guys,

    I have a property out in Ohio and am looking to expand my portfolio. Im curious to hear from successful seasoned multifamily real estate investors what processes have made the successful.

    Some areas I want to gain more knowledge in is:

    -Network used to finding good tenants and fill units quickly

    -Do you self manage or use a property management company

    -Do you interact with tenants and have visibility into communications or let boots on the ground person deal with all of that

    -How do you find good agents and contractors in your investment market

    -Who do you have walk through property for inspections and let contractors in the units for bids?

    I want to grow a big portfolio and am trying to nail down my processes and gain more insight and knowledge.

    Thanks!

    Nicholas, having reliable people on the ground is key when scaling out of state. I’d build a solid team of property managers, contractors, and investor-friendly agents who can handle tenant issues, turnovers, inspections, and repairs without you having to oversee every little thing. Happy to connect!

    [email protected]614-418-6081
    0Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    1w

    @Nicholas Andreatos I personally own 30+ units and have found that having a good PM and reliable contractors makes all the difference when scaling.

    I let my PM handle leasing, tenant communication, and day-to-day issues, but I stay involved with major repairs, turnovers, and expenses. For vacancies, professional photos, competitive rents, and move-in incentives have helped me lease units quicker.

    For contractors, I usually have my agent or PM coordinate walkthroughs, get multiple bids, and send pictures/videos before approving work. I would focus on building a solid team and systems before aggressively adding more units.

    [email protected]614-802-5698
    ReafCo | Ahmed Group 533 Reviews
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  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · Sarasota, FL · Member since 2017 · 5k+ posts · 3k+ votes
    1d

    Nicholas, if your goal is to build a big out-of-state portfolio, I think you're right to focus on the processes before you start adding a lot more properties.

    I'd add one more system to the list: your tax and bookkeeping process. Once you're owning properties across multiple states, you want to know exactly how each property is performing and have the income, expenses, improvements, and depreciation tracked separately.

    I'd also think about the entity structure before the portfolio gets too large. You don't necessarily need a separate LLC for every property, but the right setup depends on the states you're investing in, financing, partners, liability exposure, and how quickly you plan to scale.

    And if you're buying multifamily with renovations, I'd have the CPA look at depreciation and whether cost segregation makes sense as part of the acquisition analysis, rather than waiting until tax season.

    The operational systems you're asking about are important, but I'd try to build the property management, bookkeeping, and tax systems together so you're not creating a great operating machine that becomes difficult to manage from a tax perspective later.

    Feel free to DM me, I’d be happy to send over a few resources that might be helpful.

    [email protected]941-914-7779
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  • Ryan BakerBusiness Member
    Lender · Strongsville / Cleveland, OH · Member since 2026 · 49 posts · 8 votes
    1d

    Nicholas, I'm in Strongsville in Northeast Ohio, so not far from your Dayton market. For out-of-state multifamily, the biggest lessons I see are: have your financing lined up before you shop (DSCR loans for 2 to 4 units qualify on the rents, which helps out-of-state buyers), get a local contractor to walk the property during inspection, and pick your property manager before you close so they can sanity-check the rent and expense numbers. We also run a construction and property management company here in NE Ohio if you ever look this way. Happy to compare notes on a quick call, my direct line and email are on my profile.

    (Drafted with AI assistance.)

    [email protected]330-548-3340
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