All Forum Posts by: Joshua Piche
Joshua Piche has started 6 posts and replied 16 times.
Post: Looking for someone with experience who bought/owned out of state
- Posts 16
- Votes 22
Quote from @Benjamin Louie:
I’ve bought in Ohio as an out-of-state investor, and it’s definitely a market where having the right team makes or breaks the deal. Having a solid property manager you can trust is huge, because they’re your boots on the ground. Also, make sure you don’t skip thorough inspections. A lot of homes in Ohio are older, and hidden issues (roof, plumbing, foundation, etc.) can turn what looks like a great cash flow deal into a headache if you underestimate repairs.
That being said, when you run the numbers right, the cash flow can look much stronger compared to SoCal, and that’s what makes it appealing. I’d say the biggest thing is to build your network early, contractors, agents, lenders, and PMs who actually understand working with out-of-state investors. Once you lock those pieces in, scaling becomes a lot smoother.
Curious what part of Ohio you are leaning
When it comes to Ohio I have considered Columbus and Cleveland but more so Columbus
Post: Investing in Socal but outside of LA ?
- Posts 16
- Votes 22
I have been looking to get into real estate and being in Socal more specifically the South Bay area of LA prices are just to high and out of my budget which is why I have been heavily looking into out of state . But it never occurd to me to look in other areas such as Apple valley , palmdale, Victorville , Canyon country , santa clarita , Lancaster . I have seen some properties for 300-500k , but because I don’t see/ hear much about these markets Im not aware of whats in demand or if theres any at all .
So what Im looking to get out of this post is . The areas mentioned above or surrounding areas . Is there a demand for rent whether it be single or multi family ? Whats the appreciation like ? Is Job stability an issue ?
Post: Looking for someone with experience who bought/owned out of state
- Posts 16
- Votes 22
I am based in Socal and have been looking at getting my first out of state property. With Ohio being top of my kist currently . I have decided to try the cash flow route and hope to own a few in the future . I have started taking some steps like speaking with people based in Ohio. But if there is someone who has not only bought but actually owned property in Ohio as an out of state investor Id appreciate your time going over some things or even just hearing your experiences .
Post: Out of state looking for PM in Columbus Ohio for insight / possible partnership
- Posts 16
- Votes 22
Quote from @Mike Paolucci:
Hey Joshua. Just sent you an DM with few property managers I refer to all my clients. Hope this helps and happy to answer any questions you might have.
Post: Out of state looking for PM in Columbus Ohio for insight / possible partnership
- Posts 16
- Votes 22
Quote from @Austin McClain:
I'll email a list of PM's I know in the area to reach out to
Post: Out of state looking for PM in Columbus Ohio for insight / possible partnership
- Posts 16
- Votes 22
Hello , I am in Socal and want to start my real estate journey but the prices here to buy are out of my budget. I am currently looking to invest out of state with Columbus Ohio being one area on my list. I have spoke to an agent and we talked about the market. But I would like to hear from the side of a property manager. Things like : which areas rent better than others , does this part of town favor single family or multi family, what / how long is typical vacancy, what makes a property stand out compared to others . Ideally I would like to connect on here and discuss what I mentioned above plus anything you think I missed . If Columbus does fit my goals and needs I would like to fly out and see these parts of town my self before actually buying any properties .
Post: First time buyer. Found a good duplex but one unit is occupied
- Posts 16
- Votes 22
Thank you all for your input I really appreciate it
Post: First time buyer. Found a good duplex but one unit is occupied
- Posts 16
- Votes 22
So I am looking to buy my first property . I found a duplex the back unit is vacant but the main house is occupied and the current residents are paying half of what current market rates are at . I think this property has potential but with what the current rents are it just doesn’t make sense . Current tenants have been there 10 years and are a month to month lease . My question is how could I or what am I allowed to do to make this a win win scenario for both me and current tenants. Or would it be best to get a property that’s completely vacant .
* property is under rent control *
Post: Is getting a soft approval actually a good first step ?
- Posts 16
- Votes 22
Quote from @Chris Seveney:
Quote from @Joshua Piche:
I am currently saving money to help put my self in a better position and be able to qualify for a better property or just have a better down payment ( for context I am looking to house hack my first property) . After speaking with some people I got told a lot that getting a soft pre approval was a good idea. What made me hesitant was the same people that told me this offered to do it themselves selves. Which made me think if it’s actually a good step to take. Some people say a soft credit pull won’t affect my score some told me it will . Just looking for some clarity here to see if a soft pre approval should be on my to do list even though I don’t plan on buying within the next 6 months .
How far out are you looking to buy a home?
Do you know what your credit score is?
If you have an idea of your credit score I would not do a soft pull - what I would do is use the guidelines for debt to income on a home and overall expenses to calculate what you could afford.
If you have no idea what your credit score is, yes a soft pull is not a bad idea. I do not know who you have been talking to but we use myfico.com and signed up to monitor and check our scores.
Post: Is getting a soft approval actually a good first step ?
- Posts 16
- Votes 22
Quote from @JD Martin:
Quote from @Joshua Piche:
I am currently saving money to help put my self in a better position and be able to qualify for a better property or just have a better down payment ( for context I am looking to house hack my first property) . After speaking with some people I got told a lot that getting a soft pre approval was a good idea. What made me hesitant was the same people that told me this offered to do it themselves selves. Which made me think if it’s actually a good step to take. Some people say a soft credit pull won’t affect my score some told me it will . Just looking for some clarity here to see if a soft pre approval should be on my to do list even though I don’t plan on buying within the next 6 months .