All Forum Posts by: Anthony L Amos Jr

I have been looking  in and around the Columbus, OH market for a month or so. I see this market as having decent appreciation over time (still expecting somewhat of a slow down). The surrounding areas are also interesting including Mt. Vernon, Centerburg etc...but my eyes keep moving to Dayton. It is going to cash flow decently, but bot get as much appreciation. Does anyone have any thoughts on that?

Thanks!

I am going to be investing in Real Estate (Long distance), BRRR Method. My first decision is Where to invest, I have this questions????

1) I heard about Cleveland as a good opportunity Market in BP Podcast.  Where can I get info about the City. If Cleveland is a good place to invest, then in which areas (Neighborhoods) should I look.

2) Other Markets that I should consider to invest, and data about them. 

Thank you!!!!

German

I will be selling a high gain single family residence in Los Angeles in the next 12 months or so and am considering putting part of the rollover into a multi-family in Columbus, where I now live.  Would anyone be willing to meet or talk to go over the market, what to expect, etc.  I live part time in Mexico but will be in Columbus for the next several weeks.

I'm a new investor and I don’t have any property yet . I like to invest in Colorado but the houses price are so high so that is why I’m thinking to invest out of state but I don’t know which is the best state or city to invest in . Even if I decide the state I hope there is someone who can help me in buying my first property and I think the second property will be easier even if it is in Colorado . I tried to find an agent in Colorado through biggerpocket but nobody responded. I’d appreciate your advice and help to find real estate agent investor friendly in Colorado or elsewhere. 

Hi Everyone! I woke up one day and decided it's time...I want to buy my first duplex in Columbus, OH. I'm hoping someone can help guide me in the right direction. I'm looking for my core 4, starting with an agent that has access to off-market listings. I want to house hack and I need something safe because I'm a single mom. I'm doing this alone and meeting new friends along the way would be amazing. Hoping to find something under $300k if that's even possible. Help a girl out! lol Coming from Los Angeles and looking to visit soon as well.

Thanks in advance.

Hello experienced investors, 

If a brand new investor from Southern California ask you which out of state market is good to start in today's market for buy and hold what would be a few choices you suggest? Minimal cash flow is ok as long as it's after paying for property management. 

thank you

Anitha. 

Hi,

I currently rent and am contemplating whether to buy a house for myself or an investment property (duplex/triplex). The main hurdle I’m facing is that I live in a very expensive city and renting is actually cheaper than owning. My current monthly rent on a 1br apartment is $1.4k, which fits very comfortably in my budget.

Unless I move to the hood or far outside town, houses cost at least $650k and I cannot afford the monthly payment on that. 

On the flipside, there are a fair amount of duplexes/triplexes for sale in sketchy areas that I could purchase and nearly break-even from a cashflow perspective. Given how much growth my city is experiencing, I feel confident the property values will steadily increase in a short term. 

My Stats: 
Cash Available for down payment: $75k

Monthly Salary (post-tax/401k): $6k


What do you think, should I buy an investment property or a primary residence? 

Thank You! 

I am in the process of closing on a property in Columbus, OH and looking for a solid PM team to manage it as a LTR. Would appreciate recommendations of PM’s who you have worked with and are good in working with out of state investor. 

I wanted to share my experience and the valuable lessons I've learned from my venture into out-of-state investing. It has been an incredible journey filled with both challenges and rewarding outcomes. If you're considering investing in a location different from where you reside, I hope my insights can help you navigate this path with confidence and success.

Research, Research, Research: The foundation of any successful out-of-state investment is thorough research. Get to know the local market, economic trends, population growth, job opportunities, and the overall investment climate. Look for areas with strong rental demand, low vacancy rates, and a diverse economy. Engaging with local real estate agents, property managers, and investors can provide invaluable insights.

Build a Reliable Local Team: As an out-of-state investor, having a trustworthy and competent local team is essential. A reliable property manager, real estate agent, contractor, and attorney can be your eyes and ears on the ground. Interview potential team members, check references, and establish clear lines of communication. A competent team will save you time, money, and headaches.

Embrace Technology: Leverage technology to bridge the geographical gap. Use virtual tools like video calls, property management software, online marketplaces, and document signing platforms. These technologies enable you to streamline processes, conduct virtual property inspections, and manage your investments remotely. Embrace the power of data and analytics to make informed decisions.

Visit in Person: While technology can facilitate many aspects, nothing beats visiting your investment location in person. Familiarize yourself with the neighborhoods, meet your team, and develop a firsthand understanding of the local dynamics. This will help you build stronger relationships and gain confidence in your investment decisions.

Understand Local Laws and Regulations: Each state has its own set of laws and regulations concerning real estate investing. It's crucial to educate yourself on these aspects to ensure compliance and avoid legal issues. Consult with local attorneys who specialize in real estate to stay informed and protect your interests.

Account for Vacancy and Repairs: When investing in a property that you won't be able to visit regularly, it's crucial to account for potential vacancies and repairs. Maintain a healthy cash reserve to cover unexpected expenses and mitigate any income loss during vacancy periods. A conservative approach to financial planning will help you weather any storms that may come your way.

Network with Local Investors: Engage with local investors who have experience in the market you're investing in. Attend real estate meetups, join local investor groups, and participate in forums like BiggerPockets. Learning from those who have navigated similar paths and hearing about their successes and failures can provide valuable insights and guidance.

I hope these lessons I've learned along the way can be helpful to those considering out-of-state investing. Feel free to share your experiences or ask any questions. Let's continue to learn and grow together!

Hi everyone, I'm a first time investor looking to invest in long-term out-of-state rentals. I've been wanting to get involved for years and have been spending time researching/reading in the interim. The idea of being a first time investor and out of state has certainly given me lots of pause, however, if I don't go out of state, it won't happen (I live in the Bay Area).

Life is busy with a newborn and a long working hours so my time is strapped which presents another obstacle to getting started.

Target down payment is < $70k which puts me in the $250k - $350k range. Is this a reasonable amount to get started? Any areas you'd recommend looking as first time out of state investor? Any fantastic property managers that've made everything worthwhile?

Would love to connect with and learn from others who have been on a similar journey!

Appreciate the community help and support.