All Forum Posts by: Mike Paolucci

@Ryan Louz A lot will depend on what your investing goals are. 

Are you looking for cashflow / appreciation / combo of the two?

Happy to jump on a call and share some of my experiences investing in Columbus from when I started off as an OOS investor from CA. 

Quote from @Joyce A Debrah:

Hello all, 

My name is Joyce and I am ready to get into the world of real estate.  I have heard about BP for YEARS.  I'm looking forward to learning as much as I can as I grow in my experience with real estate investing. 

JD

Welcome to BP! If you ever have questions about out of state investing, don't hesitate to reach out! 

I got started as an OOS investor back in 2021 and happy to share some of my experiences and lessons learned along the way! 

Quote from @Jarrod Cropper:

Thank you for accepting me to the group.  I'm looking forward to learning from all of you and sharing my experiences.

Welcome to BP. Great place to learn about lots of different aspects of REI. Make sure you take advantage of the various resources (books / team builders / calculators) while you learn and get ready for your first purchase!

Happy to be a resource for you as well & good luck on your journey!

@Korede Alabetutu

Welcome to BP! Make sure you take advantage of the various tools & calculators that BP offers. Some great resources and conversations here. 

Happy to be an additional resource for you & good luck with your REI journey!

Quote from @Diana Minor:

Quote from @Mike Paolucci:

I had the same issue when I was starting investing and living in San Francisco, CA. Numbers and landlord laws didn't make sense at all. Glad to hear that you're being picky instead of settling! 

If you're open to out of state investing, there's plenty of opportunities for cashflowing properties in Ohio where the numbers and landlord laws make sense. 

Happy to answer any questions about my OOS investing experiences. 

Good luck with your property search!

Im still learning, have some experience with 4 primary residences but interested to learn how it would work out of state.

I'd be happy to answer any questions you might have. Sent you a DM.

Quote from @Shrikant Kakani:

Hi All,

I have been reading a lot of books and listening to a bunch of podcasts about real estate investing and I feel like I'm ready to take the next steps. The huddle I'm facing right now is I stay in HCOL (San Francisco) where investing won't make much sense due to high property prices. 

 I was born and raised in San Francisco and ran into those same issues back in 2021 when I first started. Glad you're looking into OOS in more affordable markets. I ultimately chose Columbus Ohio and have been pretty happy with my decision. 

Are you looking for cashflow / appreciation / combo of the two? 

Which markets in Ohio were you looking at? Depending on your target market, you'll still be able to find some good deals (depending on your strategy). I can't really speak too much about the other markets you've looked into but I'd be happy to connect and discuss both the Ohio markets and my experiences as an OOS investor. 

Quote from @Steven Olivas:

Hello, I am new to Bigger Pockets and seeking guidance with my first real estate investment. I think now would be a good time for me to invest because I don't have any debt at the moment, and a decent amount of money saved up. 

Hey @Steven Olivas as a fellow CA native and out of state investor, I know it can be little nerve racking to say the least. Ohio is still a great market but when figuring out what market works for you, make sure you look at the drivers (population growth, economic growth and what kind of developments are going on). 

Happy to jump on a call and answer any questions you might have.  

Quote from @Michelle Macias:

Hello, 

My name is Michelle Macias. 

I am an investor based out of San Diego CA. I’ve flipped homes and currently own two multi family properties in the L.A. county area. 

Hey Michelle. I'm originally from San Francisco and ran into those same issues in 2021 when trying to find properties. I ultimately started focusing on the Midwest and have been pretty happy so far. 

Happy to connect and share some of my experiences as a former out of state investor and be a resource for you. Good luck on your journey! 

Quote from @Allan Kapoor:

I'm looking for advice on how to feel more comfortable pulling the trigger on my first out of state rental property. On paper I'm ready - I have the money, I've done the research, I have well-defined property/neighborhood criteriaI, I have an agent, contractor, property manager, lender, etc.

 I'm originally from San Francisco and ran into similar issues that your worried about. Happy to jump on a phone call and share some of my experiences. 

Quote from @Rahul Rawat:

We are looking to purchase a rental property with a positive cash flow, we reside in Jersey City and all the properties seem to be either out of our budget or not having a positive cash flow potential.

Hi @Rahul Rawat. Congrats on taking your first steps. I started off in 2021 as an OOS investor from CA. I was in a similar situation as you with properties numbers not making much sense and ultimately decided to invest out of state and focused on Ohio. So far, I've been pretty happy with my decision.  

I'd recommend finding #1 a landlord friendly state (CA was far from a landlord friendly state) and then looking at macroeconomics for not only the state but the various cities as well. Places with job/population growth and other economic drivers that are helping the local economies grow.

Once you've decided on a market, next step would be to do some research on various property managers and get in touch with an investor focused realtor with some solid connections for everything else (lender / inspector ect. / PM's will have the contractors you'll need and already have good relationships with the boots on the ground). 

Happy to connect and share some of my experiences as a former out of state investor. Good luck on your journey!