All Forum Posts by: Min Zhang

@Tove Fox You can definitely find single-family homes north of $250k in A/B-class neighborhoods here in Columbus!

@Alex Minter

You can start locally with a house hack. If you're looking for out-of-state properties, start with turnkey single-family homes or small 2-4 unit properties while building your local network and establishing boots on the ground.

Welcome to BP, Nhan! I recommend starting with turnkey multifamily 2-4 units if you're a beginner. Turnkey properties are already renovated and tenant-ready, meaning you can focus on the investment side rather than dealing with major repairs. Sometimes, there is also a tenant already in place which means you can start generating rental income from day one. Good luck and I'm excited to see you grow!

You’ll definitely need a property manager to handle your property. It’s hard to manage remotely, so you’ll need someone local. They’ll take care of everything from listing and tenant screening to addressing tenant concerns. They also have a handyman available for any repairs needed. 

Hey Isaac, I have investor clients who have bought properties in Cleveland and Akron. I'd say they are both cash flow market. You can find duplexes under $180K in C-class neighborhoods, in decent condition, that meet or exceed the 1% rule

Welcome to BP Kolby! Glad you have experience investing locally. I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

Here is a summary of the book.
https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greene

If numbers makes sense to you locally, I recommend you doing that. If not, that's the time you explore other options. Hiring a PM can save you time and headaches by handling tenants, maintenance, and legal stuff. But if you're willing to learn and have the time, managing it yourself can save you the fees. If the property is close by, it’s easier to handle on your own. You can always hire a manager later as you grow

Welcome to BP Daniel!

It might be helpful to narrow down your options by focusing and researching for markets with strong rental demand, growing job markets, and property prices that fit within your budget. Have you had a chance to talk with your lender yet?

@Nick Wimmel

You can get decent cash flow and demand for rentals is likely to stay strong in the area given the proximity to major job centers in Cincinnati and Dayton