All Forum Posts by: Travis Turner

Echoing what @James Wachob said. A poor team in the best area will still yield poor results, and tons of unnecessary stress, more times than not. Being OOS will only exacerbate this stress, since you won't be able to just drive over whenever you want. Because you mentioned COC being your focus, your property manager will be your number one asset. Once you narrow down your locations, call property managers and ask them for referrals from current clients. Also search for "investor friendly" Realtors.

Living and investing in Ohio myself, I recommend Dayton and Columbus both as solid markets.  Dayton more so for cash flow, Columbus for population growth and potential appreciation.  Since it appears you are just starting out, and given the current market, I recommend focusing on a safe cash flowing property, appreciation being a bonus.  

Here is my short list - Birmingham, Atlanta, Indianapolis, St Louis, Kansas City, Memphis, Little Rock, Indianapolis, Greenville, Jacksonville, Tampa, Houston, San Antonio, Little Rock, Milwaukee, Cincinnati, Dayton, Cleveland, Ohio, or other secondary or tertiary markets.

You can't go wrong with any of those... the big thing from there is to find other passive investors and see if you can get referrals.

@Travis Turner you may add OKC to your list. We have consistent population growth, you can get into a cash flowing rental for 70k and it will qualify for conventional! It's also a bit under the radar which is nice from a competition standpoint. Good luck! 

I like to start people thinking not about hot markets, but markets where they already have boots on the ground and/or know the area. Where you grew up, where you went to college, other towns or areas you have lived in. When you know the area, you have much more knowledge than learning a completely new city or relying on local experts to help you with city information. I also think that when you mark those areas or add areas where your closest friends or family lives, you have more eyes on the ground and reasons to visit. Building a team from scratch is very hard so if you can hedge your bets a little in one direction it may help you. You can invest in any market, it's always about finding the deals. Just remember that the identification of a hot market means you are too late and should be looking one to two towns over in that market if you are going to hold the properties.

@Travis Turner, I am an out of state investor as an active duty military member who primarily lives in expensive markets.  I will tell you that while I place a heavy emphasis on the market numbers, I place just as much of an emphasis on where I have the best team.  A good team can help offset an average market, but a fantastic market can NOT offset a poor team.  Property management, lawyers, realtors, can all make or break an investment.  I would look into building a team in each of those markets, and wherever the best one exists is where you want to invest.  Good luck!