All Forum Posts by: Mike Paolucci

I'm originally from San Francisco, CA and started investing in 2021. It was pretty hard to find properties where the numbers and landlord laws made sense which is what ultimately led me to investing in Columbus, OH.

The numbers and landlord laws out here made sense then, and they still do today. I've been able to get a healthy combination of both cashflow and appreciation from all my properties after a little TLC.

Happy to share my experiences. Good luck on your REI journey and property search!!

 Hey @Caleb Ripley, Welcome to BP!  I'm originally from San Francisco, CA and started investing in 2021. It was pretty hard to find properties where the numbers and landlord laws made sense which is what ultimately led me to investing in Columbus, OH.

The numbers and landlord laws out here made sense then, and they still do today. I've been able to get a healthy combination of both cashflow and appreciation from all my properties after a little TLC.

Happy to share my experiences. Good luck on your REI journey and property search!!

Hi @Poppy LLoyd, welcome to BP! 

I wouldn't recommend commercial as your first investment. There's a lot that can go wrong financially and you can really put yourself in a DEEP hole if things go south. 

Single family investments are an awesome way to start. My first investment was a 3/1 single family in Columbus, and was probably (in my opinion) the best decision I could have made as an rookie out of state investor. It allowed me to learn what owning property was like, while getting some positive cashflow.

 Sub-meters are a landlord's best friend. If you're not using the utilities, you shouldn't be paying for them. 

@Les Z. Check out the Ohio markets. I started off investing in Columbus, OH while OOS and haven't been disappointed with my decision. Columbus offers a good mix of cashflow and appreciation while Cleveland is great for cashflow. Cincinnati is also another good market to look into as well. 

Hey @Annwar Matani congrats on taking your first steps and welcome to BP! 

I started off my investment journey the same way in 2021 while living in CA. Happy to share my OOS investing experience. 

If this will be your first investment property, I would recommend starting off with a turnkey single-family, rather than a full on BRRRR.
Reason being, that is more advanced strategy and it's very easy get in over your head quickly if you don't know what you're doing. RE investing isn't a sprint, its a marathon. You will also learn A LOT from your first property just by owning it and you'll want to mitigate your financial risks and get into good habits ASAP.  Once you have more experience and have established trust in your team, then have at it!! BRRRR all day long!!! 

Cleveland is a great market for cashflow. Our brokerage does a lot of business out there. If that is your only priority then that is a great market to look at. If you're open to a mix of cashflow and appreciation, check out Columbus, OH. 

Let me know if you have any questions & good luck on your journey! 

 @Shivam Patel If you can house hack locally, do it. You'll learn a lot just by owning and being a land lord. If the numbers don't make sense for you locally, check out Ohio. 

I started off OOS investing while living in CA in 2021 in the Columbus, OH market and have been pretty happy with my decision. I've gotten a good mix of appreciation and cashflow on all my properties. 

Happy to share my OOS investing experiences in Columbus! Good luck on your investing journey! 

 Hey @Taylor Marks congrats on taking the first steps in your real estate investing journey! I'm originally from San Francisco, CA and started off investing out of state back in 2021. 

Best thing to do, in my opinion, is to do some research:

1 - Figure out what your end goal is and how you plan to get there

2- What niche you want to invest in (single-family, small multi-family 2-4 units, large multi-family). I recommend a single-family to start b/c you're going to learn a lot from your first property. Single-family properties present less wear and tear on your investment and allows your to limit your financial liability. 

3 - What type of market your looking for (cashflow primarily, mixture of cashflow & appreciation, primarily appreciation). 

4 - Get in touch with local boots on the ground - as others have mentioned, the core 4. A solid investor friendly agent will be able to help you navigate this one. 

Good luck on your new journey and let me know if you have any questions! 

Find some local meet ups. You'll be able to find a lot of great resources that way and learn from them. 

I would also reach out to different brokerages and see if they'll allow you to go in and shadow for a little bit. Brokerages are always looking for young, hungry people to impart knowledge to, however, I suggest you try to ADD VALUE to them by way of volunteering your time. You're going to learn a lot just by being around the business. The more you're around and adding value to mentors, the better off you'll be in the long run. They're teaching you life long lessons at the end of the day. 

Good luck on your investing journey! 

 Hey @Komal Sekhon, congrats on taking the first steps in your REI journey!

If you can find a local multi-family where the numbers make sense, do it. 

If not, then take a look at the Ohio markets. I'm born and raised in San Francisco and started my investing journey buying out of state in Columbus, OH and have been pretty happy with my decision. The numbers and landlord laws out here make a lot more sense in my opinion and I've been able to have a good combination of cashflow and appreciation. 

Let me know if you have questions! Good luck on your investing journey!