All Forum Posts by: Matt Owens

I would first find a market that is showing signs of market growth. Then I would focus on growing relationships and building your core 4. Having a team in place is essential to long-distance investing. The core 4 consists of a realtor, contractor, property manager, and a lender. Once you have this team in place, you should have the foundation to invest in any market confidently while not being there physically.

There are some great opportunities in the Ohio markets. Many investors from expensive markets are choosing to invest in the Midwest because of the low barrier to entry and yearly cash returns making more sense in these lower priced markets. Ohio markets show up 3 times in Zillow’s 2024 hottest markets, with Columbus and Cincinnati taking the top 2 and 3 spots. I moved from Florida to start investing in Columbus because of the same reason.

https://www.zillow.com/learn/hottest-housing-markets-2024/

Hi Matt,

What are your goals and preferences? Asset class, price range, neighborhood type, cash flow/appreciation, whether you want a rental portfolio or get into rehabs...

It's easier to start from the goals and work backwards. Personally, I'd pick a tenant friendly state and choose states that don't have barriers to entry (insurance, financing, weather, etc). AZ, PA, TX, OH, WI, AL, FL...

Hey Matt, welcome to BP! OOS investing can be a great way to diversify your portfolio but having a solid strategy is key. Figure out what you're aiming for. Are you looking for steady rental income or long-term appreciation? Once you know your goals, you can pick a market that fits the bill. Also, since you'll be managing the properties remotely, building a strong team is important. Find a local agent who's familiar with your target market and a property manager to handle the day-to-day operation. Then, find a mentor doing what you want to do. You could start your search by reaching out to lenders, brokers or other investors you meet at REI meetups. Most will be able to provide one. All the best!