All Forum Posts by: Mike Paolucci

Hey @Ryan Louz. I can't speak much about Philly, but as a former OOS investor originally from San Francisco, I can attest to Columbus being a great market. I started investing here in 2021 and have been pretty happy with my decision. 

Columbus is experiencing some great growth due to the tech industry investing pretty heavily here in Central Ohio and the landlord laws are completely night and day compared to CA - especially with the "Justice for Renters Act" coming up on the November ballot. 

Happy to connect and share some of my experiences. 

Hey @Daniel Wilson. As someone born and raised in San Francisco, I know the feeling of not being able to find deals that make sense both by the numbers and landlord laws. I ended up looking into OOS investing and settled on Columbus as my target market and haven't been disappointed with my choice to do so. 

When it comes to the CA landlord laws, check out this link. "Justice for Renters Act" It will be on the upcoming November ballot and just reinforces my belief that I don't want to be a CA landlord. 

If you're dead set on investing in the area, then I would try to partner up with other investors to see if it's worth it, otherwise take a look into OOS investing in a state like Ohio where the numbers and landlord laws actually make sense. 

Let me know if you have any questions. Happy to help answer any questions you might have. 

Hey @Lonnie Perez! Congrats on taking your first steps in investing! I'm originally from San Francisco and ended up investing out of state here in Ohio (started in 2021) for a lot of the same reasons. Price points were too high, numbers didn't make sense from an investment side (running a negative just to hope and pray the appreciation will be there). Tack on the anti-landlord laws that CA is trying to pass ("Justice for Renters Act") and it just didn't make sense from an investment prospective for me. 

Let me know if you have any questions about OOS investing. Happy to help out another Bay Area investor! 

@Shefali Golvelker I'm originally from San Francisco and found it pretty difficult to find cash flowing properties that didn't require a huge down payment or a full cash offer. Not to mention the landlord laws aren't the best for CA. 

If you're open to OOS investing, check out the Ohio markets like Columbus, OH. Lots of growth happening out here with low entry points. 

@Jerry Callow I'm originally from San Francisco and from what I've been seeing, it's only getting worse for landlords in CA. Check out this link for the upcoming California November ballot --> "Justice for Renters Act" 

Essentially, they're trying to implement rent control state wide. That, plus numbers just not making sense unless you put an insane amount of money as a down payment / buy in all cash, and other anti-landlord legislation made me look to a state like Ohio starting in 2021 and ultimately moving to Columbus to focus on building a portfolio and I've been very happy with my ROI both in cashflow and appreciation over the past few years.

Happy to share some of my experiences with you about OOS investing. 

@Trevor Crabtree I would target a duplex / triplex / quadplex for your next house hack and build the portfolio that way.

Hey @Cecil Shannon

I'm originally from San Francisco, CA and started investing in 2021. I chose not to invest in CA because the numbers and landlord laws just didn't make sense. Here's an example of the landlord laws I'm referring to ("Justice for Renters Act"  - this is coming up on CA's November ballot).

 I ended up starting off with an OOS investment here in Ohio because both the numbers & landlord laws made sense out here and I haven't been disappointed with my decision to do so. As the years have progressed, I've seen a healthy combo of appreciation & cashflow has continued to increase as market rents have gone up.

To start off, I'd attend some local meet ups and network a bit, and start analyzing some deals. Once you feel comfortable in running your numbers, figure out a good market that has good population & economic growth and landlord friendly laws. Once you've found your target market, start developing your teams (Investor focused agent, Investor friendly lender, Property manager & contractor). Last but not lease, start writing offers and don't get stuck in analysis paralysis. 

Let me know if you have any questions about OOS investing. Happy to answer any questions you might have. 

@Jim Javier congrats on your first flip. Hope all is going well with it! 

What's your overall plan? Are you looking to continue to build an OOS portfolio? 

I started off as an OOS investor from San Francisco in 2021 and have been pretty happy with my investments here in Columbus, Oh. If you're still open to OOS investing, check it out. 

Have you thought about OOS investing? With 100k liquid, you can find some decent deals in Ohio that will make sense by the numbers. 

I originally started off as an OOS investor from CA and have been pretty happy with my decision to invest here. Happy to answer any questions you might have. 

@Nick Sokoloff

I can't speak much about Raleigh, but as someone who started off OOS investing in Columbus, I can't complain at all when it comes to the appreciation I've experienced. 

Here's an example why:
2021 - purchased a duplex for $145k in C class. Fast forward couple of years, sold it for $195k about 8 months ago and 1031 into an A class duplex. 

The timing was perfect with the A class duplex, but that's the kind of appreciation I've experienced for most of my portfolio in Columbus on top of the cash flow getting better as the years have progressed and rents and increased. 

Happy to answer any questions you might have.