All Forum Posts by: Peter Dorinsky

So happy to be a part of the bigger pockets community. I work in finance as a capital markets analyst and enjoy the analytical work that goes along with my role. I am really passionate about building personal wealth and financial literacy and this brought me to real estate investing. I enjoy all types of investments from building my portfolio of ETFs and stocks, fixed income securities as well as REITs and now asset accumulation.

I am Boston based but looking in more affordable and high growth areas to buy my first property. I'm currently looking in Ohio (Columbus/Cincinnati) but am open to guidance on areas of high potential if anyone has suggestions! I am particularly interesting in hearing about areas with real estate incentives for first time buyers or investors.

Looking forward to meeting other members and connecting with everyone; please feel free to connect or reach out!

Hey Rachel, that's great that you're taking the initiative and getting involved in the Bigger Pockets community, you have lots of resources available through this platform. There's lots of opportunity if you're looking to invest in the Ohio markets. In Columbus specifically many big-tech companies are either moving into the market or expanding their business here, which is contributing to rapid economic development. Intel is investing $20 billion to build chip manufacturing plants in Licking County, which is projected to create 30,000 new jobs. This is the largest private investment in state history. In addition to Intel, other big companies like Google, Amazon and Facebook are also expanding their business here in Columbus. Columbus is also home to The Ohio State University, one of the largest public universities in the country, as well as L Brands, a big player in the retail industry. Happy to connect if you're interested in learning more about the market!

Once you land on a market, especially if you plan to invest out of state, it'll be important to build your core-four. I'd recommend reading this article by David Greene:
https://www.biggerpockets.com/blog/core-four-real-estate-tea...

3 Votes

Boston, Massachusetts

Quote from @Justin Carter:

Hello, I am based in the metropolitan DC area and looking to invest out of state as this market is very expensive and it's hard to find a good deal. Does anyone have any experience investing in the Midwestern states? Was considering looking into markets such as Detroit, MI, Cleveland, Oh, St. Louis, MO, etc as from my understanding cash flow tends to be higher in those markets. I am primarily focused on cash flow vs appreciation at this point in time. Any thoughts on investing in those markets would be greatly appreciated.

Also, by chance does any have any contacts of real estate agents they can share in any of those markets?

Hey Justin, if you're interested in the Cleveland market I'd be happy to connect and talk more. There are some other tertiary markets in Ohio that you might be interested as well if you're looking to maximize cash-flow.

3 Votes

Cleveland, Ohio

Quote from @Cody Vandermartin:

Hello All,

Looking for some thoughts and advice on the Dayton, OH area or some other similarly priced markets.

Some background, I am a first time, haven’t ever purchased a home other than my primary residence, want to be real estate investor. I want to generate a cash flowing portfolio that over the next 10 years will allow me to transition away from my current job without worries about the next one. I live in the California Bay Area and to say the least, my market is not affordable or even at best cash flowing. Thus, pushing me to look out of state.

Being a Military member and having some familiarity with Wright Patterson AFB, it led me looking at the Dayton market and realizing that homes are much more affordable there than in my home state. Knowing interest rates are crazy right now and cash flow would be minimal anywhere without an extremely large down payment, I have thought about and am fortunate enough to think about purchasing an investment property 100% cash. This of course would need to somewhere like the Dayton Market as my available cash is around $150k. So, my questions are:

1: Does anyone have any thoughts on the Dayton market and the projections for the foreseeable future?
2: Does purchasing a house 100% cash seem like a good strategy for my available cash or is there something else I should be thinking about?
3: Lastly, what neighborhoods and areas should I be looking at in Dayton or the surrounding area?

Thank you!

Hey Cody, if you're looking for cash-flowing deals with a low-entry point Dayton has potential. If you're looking for a market with strong appreciation projections over the next ten years, I'd say a market like Columbus offers more potential due to the surge of companies expanding in the Columbus market. Ultimately, where you invest is going to depend on your investment strategy.

2 Votes

Dayton, Ohio

Of course!

0 Votes

Canton, Ohio

Quote from @Karim Elahi:

Hello, I’m looking to start my rental portfolio with out of state rentals. Few questions that have.

-What cities or state specifically would you recommend for out of state rentals?
-what metrics should I consider when looking at property or when selecting location?

Hey Karim, I'd suggest researching the Columbus and Cleveland Ohio markets. The Cleveland market is a strong cash-flowing market with low cost of entry and strong rents. The Columbus market is also a strong hybrid market with a blend of cash-flow and appreciation. Columbus is a rapidly growing with many new and existing companies expanding their business in the market. If you're looking for cash-flow and appreciation, Columbus might interest you.

1 Vote

Quote from @Michael Geary:

Newbie here. Trying to figure out where to get my first LTR. I have been searching the internet and there are Soo many different answers. Looking for as much cash flow as possible, low crime area landlord friendly state. I have also been searching the BP forums but obviously everyone is biased depending on what state they work. I appreciate any help.

Hi Michael, if you haven't considered it already, I would strongly recommend house-hacking wherever you're currently located if you're able to. It's a great way to start your investment journey and tee-up your next investment.

But if you're wanting to research other market opportunities, there is a lot of potential in the Midwest markets. You can find landlord friendly states with lower taxes and less expensive markets with strong rents for LTR's.

0 Votes

Hey Dhanya, Columbus and Cleveland are good markets to look into. The cost of homes are low and the rents are strong in Cleveland, so there's lots of opportunity if you're looking for cash-flowing deals. Columbus is more of a hybrid market with a mix of cash-flow and appreciation. If you're looking for a long-term investment that will appreciate over time, Columbus would be a good market to look into. There are tertiary markets as well that you might be interested in, but it also depends on your investment strategy. Best of luck!

2 Votes

Quote from @Matthew Russo:

Hello Everyone!

My name is Matt, from New Jersey. I am a rookie real estate investor looking to purchase a small multi-family home to house hack with an FHA Loan! I just finished reading The House Hacking Strategy by Caraig Curelop. I learned so much valuable information and I am ready to get the ball rolling for my first house-hack.

I am a 25 year old Marine Engineer in the US Merchant Marine and in the US Navy Reserve. I spend roughly 6 months a year living on ships when I am working. My job gives me the flexibility to pretty much live anywhere in the country. I plan on moving out of NJ to get my real estate investing journey started. I have been doing research on markets and it seems like Columbus OH, Forth Worth TX, Houston TX, Chicago IL are the best possible markets in my price range at the moment.

I am very motivated and excited to start my investing journey towards financial freedom with the great BP community. My next steps are to start building my team and networking. Please reach out with any help and advice! Much appreciated.

Respectfully,

Matt

Hey Matt, that's awesome that you've decided to get the ball rolling and are able to move to the market that you plan to invest in. House-hacking is a great way to start out and tee-up your next investment, whichever market you land on it'll be hard to go wrong if you're house-hacking.

Columbus offers a lot of potential for future growth with many big-tech companies either moving into the market or expanding their business here, which is contributing to rapid economic development. If you're looking for a landlord friendly state with lower taxes and a market with lots of potential for appreciation, Columbus could be a good fit.

Best of luck as you start out!

0 Votes

Quote from @Christina J Smith:

Hello, I am a new member on BiggerPockets platform. I am interested in the best city for rental properties- that brings in decent/ good cashflow and appreciation somewhat. I am kind of stuck with Ohio. I don't know what's best Cleveland OR Columbus. Need some clarity on this one

Hey Christina, if you want to maximize cash-flow I'd suggest Cleveland, but if you're looking for cash-flow/appreciation in a rapidly growing market I'd recommend Columbus.

2 Votes

Quote from @Christopher Medel:

I am currently looking to invest out of state because investing locally is too expensive. Investing out of state can help me get started on my real estate journey but I don't know where to start. I have some start up capital which allows me to purchase a property out of state where prices are more reasonable for me. Should I create an LLC to get started or start looking at area's to invest in then narrow down my search for a property?

Hey Christopher, if you already have an investment criteria and plan on investing out of state I'd recommend starting by choosing your market of interest. After you've settled on a market I would focus on building your core four: https://www.biggerpockets.com/blog/core-four-real-estate-tea...

What's your criteria for a market you'd be looking to invest in? The Midwest presents some great opportunities for out of state investors if you're looking for lower taxes, lower prices, and landlord friendly states.

2 Votes

Chattanooga, Tennessee

All Forum Posts by: Peter Dorinsky

Peter Dorinsky has started 0 posts and replied 140 times.

Post: New Investor Introduction (Boston Based)

Post: Out of State Investing

Post: Out of State Investor: Looking at Dayton

Post: Hello. I'm new here

Post: What state/cities would you recommend for our state rentals?

Post: Best cities to invest?

Post: Location in Ohio to invest

Post: New Motivated Rookie Intro!

Post: Best Cities To Invest In Rental Properties

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