All Forum Posts by: Patrick Drury

@Kate Jones 
If you are investing out of state, it's good to get your team lined up of the core 4. You should have a lender on hand because you should be pre-approved first before you start looking. As for agents, you can find one once you start looking and contractors can be found after you buy the property based on what you need. It's not like you going to find a contractor that's going to give you great discounts on your 1 property. Now some guys that have management companies or large portfolios would be able to because they can give them the volume of work. When I bought my first rental, I honestly didn't think too much about it I just jumped in, and made a lot of mistakes, but learned so much. You don't know what you don't know. You have to make mistakes to make yourself aware of things you're doing wrong and learn from them so you never make the same mistake twice. 

@Abdul Azeez 
Sorry to hear you had a bad experience investing out-of-state and hope moving forward the new PM is better. 

@Tanner Cory 
The two biggest factors in a market you should look at are population growth and job opportunities. The Midwest, in particular, is a great place, given most of the markets will have really good cash flow. I currently live and invest in Columbus OH and I would recommend you check it out!

@Evan O'Brien 
Population growth and job opportunities are the main 2 a lot of people look at when considering other markets and are the most important. I currently live and invest in Columbus OH. I would recommend you check out Columbus as @Joshua Janus has mentioned above. A lot of things are converging in Columbus from Intel, the Hyperion manufacturer, the headquarters of L-Brands, Wendys, Chipotle, and White Castle. Also, home to Ohio State University, which includes all the jobs it employs, the students it attracts from across the united states, and also the world, and all the real estate it develops!

@Austin Paulenske 
I believe you have too high of expectations. You are not going to find deals that cash flow while meeting FHA in any of those areas. If an agent or wholesaler finds them, they are just going to buy them personally. You are looking in more appreciation-driven areas. If you want that perfect house hack, you should look in different areas. Can't have your cake and eat it too.

@George Raptis 
Nice! Definitely do the house hack first. It's usually how a lot of people start and is great exposure to real estate investing.

@Sevak Gasparian 
Look at comps further back and that should give you a guideline of what things have been selling for up until then. 

@Al Tresor 
Where are you looking in particular? 

@Jon Kint

Work with an agent that specializes in sourcing commercial off-market deals. Aside from the agent's ability to source off-market deals himself a lot of brokerages like to keep things in the house. So if someone else has a deal in the brokerage, but no buyer, they will shop it to the brokerage for someone to bring a buyer.

@Ashley Pinnell 
You don't need a broker's license to self-manage rental properties in Ohio. You only need a license to manage other people's properties for a profit.