All Forum Posts by: Mike Paolucci

Hello BP Community! I am a new-ish real estate investor (on and off BP but finally ready to connect with this awesome community) with one 4-unit property out of state in Cleveland, Ohio purchased in 2021 that has a cash-on-cash return over 30% with the changes I've made (rent increases, conversion LTRs to STR/MTR). I did this with minimal knowledge so there was a large dose of luck and timing, lots of hard work.

 I live in one of the highest cost markets in the nation, and recently lost insurance coverage and now have the California FAIR plan (yay). For that and a few other reasons we are selling. Likely to remain here and rent (reducing our housing costs by 50%!) but I've strongly considered moving to Cleveland and house hack for a year, the book almost writes itself, but it's difficult moving middle school kids around for RE dreams.

I plan to take the equity and purchase more properties in northeast Ohio focusing on MTR/STR strategy, but I've had my eye on other areas great for MTR sticking with that strategy. I have a realtor and have a strong addiction to MLS listings, but I keep reading about finding great deals off-market and I've been learning more about "creative" real estate. What are some great ways to find the juicy off-market deals? Networking I know is key and I need more of that, is that really the secret?

Like many here, I love real estate investing and while I'm sad to sell my primary residence and go back to apartment living, I'm so excited to build my portfolio and long term wealth. 

Does anyone have a similar story? I'd love to hear about it!

Excited to join this group! I’m in Northern Virginia, looking for long term rentals in and out of state. Maybe a flip if I find a partner contractor. Goal is to have my mom retire and never worry about money again! 

@Mike Paolucci Hey Mike ! thanks for the input ! I would love to invest in my own backyard but I live in NYC, so in and around my area is not an ideal area to invest in for what i'm looking to build. I appreciate your advice !

Hey everyone, I’m new to the community and just getting started with real estate investing.
 
I'm looking to focus on flipping and the BRRRR strategy, but I'm doing this remotely and out of state, which adds an extra layer of pressure. I'm nervous about picking the wrong market to start in; especially since I'm relying heavily on data, virtual tours, and local connections I'm still trying to build.
 
I'm currently focusing my efforts in the St. Louis County Area but I’ve noticed homes sitting on the market for 100+ days, even in areas and zip codes that are supposed to be “sought after.” That’s made me second-guess what’s really moving versus what’s just marketed well.
 
I'm also struggling to find good off-market deals. A lot of what I'm seeing from wholesalers seems overpriced, or the numbers just don't add up once you dig into the rehab and ARV. The competition feels intense, and I'm not sure how to get ahead when I'm not physically there.
 
How are you finding reliable wholesalers who actually know how to underwrite deals properly? Any tips for building a strong remote team or vetting markets from a distance?
 
I’d really appreciate any advice from those who’ve done it remotely. Thanks in advance!

Hey everyone,

I’m based in Oxford, MS and currently exploring my first out-of-state rental investment, with Columbus, OH catching my attention as a potential hot spot. From what I’ve seen in other posts and market research, Columbus seems to have solid rental demand and relatively affordable entry prices, especially compared to many other metro areas.

Here’s my current situation:

• I own one property here in Oxford that was our primary residence for 2 of the past 5 years.

• It’s currently on the market for sale, and we’re estimating around $160K–$180K in equity.

• Since it was our primary for 2+ years, we’re hoping to avoid capital gains tax using the IRS exemption.

• If it doesn't sell, we're looking into options to pull out some of that equity (HELOC, cash-out refi, etc.) to reinvest and grow our rental portfolio. Currently we have a 5.375% interest rate.

My goal is to use this capital to pick up a rental or two in a market with good long-term potential, and Columbus keeps coming up as a solid choice.

I’d love to connect with:

• Anyone investing in the Columbus area — What neighborhoods should I be looking at?

• Other out-of-state investors — What advice do you have for managing properties from afar?

• Agents, wholesalers, or PMs with local knowledge — I’m open to deals or partnerships if they make sense.

Appreciate any input, stories, or recommendations. Just trying to build smart and learn from those who’ve been there.

Thanks!

— Ryan

Hey BP Community,

I'm an out-of-state investor currently researching the Dayton, Ohio market and looking to connect with folks who are actively investing there. I’d love to hear about your experience—especially from those who started out remotely.

Some specific things I’m hoping to learn more about:

How you narrowed in on Dayton and specific neighborhoods/submarkets

What your process was like buying from out of state (due diligence, finding your team, etc.)

Any recommendations for reliable property management companies

Tips on choosing the right insurance provider for rentals in the area

Any lessons learned or things you wish you knew before getting started

If you’re open to chatting or sharing your story, I’d really appreciate it. Always happy to return the favor and share anything I’ve learned along the way, too!

Thanks in advance!

 Thanks Mike!

Hello, everyone! I have an opportunity to move to one of the cities below, and I want to make a smart move that will help me start my investment journey. Which one of the below locations would you recommend? 

1. Montgomery, AL

2. Fayetteville, NC

3. Columbus, GA

4. Newport, RI

5. Washinton, DC

6. Quantico, VA

7. Leavenworth, KS

Thank you so much for your help!

Hey everyone, I was wondering what everyone's experience has been with using property management for their multi family rentals. Any info would be much appreciated. Thank you. Also I forgot to add I live in New Jersey and would be investing out of state.