All Forum Posts by: Min Zhang

Hello Michael! It is really exciting when you are starting your goal in investing. There are a variety of options to choose from, but what I would highly suggest for starters is to get one in Cleveland or in Columbus. Cleveland is truly known for its strong cash flow potential. But if you're also searching for appreciation, Columbus is the place to be. There are still 1% deals but the more attractive part is Columbus is an expanding city, with several significant companies relocating to the area in the near future, resulting in an abundance of new job opportunities. But if you are looking for a ton of cash-flow, then Cleveland is the way to go. My partner and I have brokered a ton of deals in the market. I sell mostly off-market deals with a ton of meat on the bone. Let me know if you are interested in connecting. I can definitely provide you with a ton of great insight about the market!

Hello Oren! It is great that you have several investments. Having an investment in Indianapolis would be fantastic as well. But hear this out, Cleveland, OH is a cash-cow for out-of-state investors. I personally own a ton of properties in the Cleveland market. If you are looking for a ton of cash-flow, then Cleveland is the way to go. My partner and I have brokered a ton of deals in the market. Let me know if you are interested in connecting. I can definitely provide you with a ton of great insight about the market!

Hey, Jennifer! These are all great states, but it is important to know what the market trend is. For me personally, I would suggest the Columbus, Ohio market because it currently has a lot of economic activity. Columbus has experienced significant growth in recent years, partly due to the influx of tech giants like Intel ($20 billion), Meta, Amazon, and Google establishing warehouses and data centers in the area. This has contributed to an increase in property prices and more people moving into the city for job opportunities. Let me know how I can help!

Hello Rick! I'm glad that I was able to bump into your blog. 400K is definitely a huge amount of money. I think Columbus, Ohio will be a great market for your friend. Columbus has experienced so much growth in recent years, partly due to the influx of tech giants like Intel ($20 billion), Meta, Amazon, and Google establishing warehouses and data centers in the area, which has contributed to an increase in property prices and more people moving into the city for job opportunities. Let me know how I can help!

Hello Everyone! I have been getting newer and younger investors rising today. I can say most of them were really prepared and some are still lost and unsure on what they need to be equipped to start their investor journey. When starting your real estate journey, there are several essential principles and concepts you must understand to set yourself up for success. Here are the top 10 must-knows:

1. Clarify Your Objectives: Let's dive a bit deeper into your reasons for considering real estate investments. Are you hoping to secure a steady stream of income without much active involvement, focus on gradually growing your wealth over time, or perhaps strike a balance between these two approaches? It's important to have a crystal-clear understanding of your goals because they will serve as a compass when it comes to making investment choices.

2. Budget and Financial Preparedness: Take a moment to evaluate your financial situation and put together a budget. It's essential to figure out how much you can comfortably set aside for investments, taking into account factors like down payments, closing costs, and ongoing expenses.

3. Researching the market: Understand the local real estate market where you plan to invest. Analyze factors like property values, rental demand, and future growth prospects. This knowledge will help you make informed decisions.

4. Property Analysis: Start building your skill in assessing potential investment properties. Take into account various factors such as cash flow, cap rates, and the possibility of property value appreciation. Mastering the art of crunching the numbers is a must on this journey.

5. Funding Choices: Get to know different ways to secure funds for your investment, such as mortgages, loans for investment properties, and private financing. Understand your credit score and explore ways to boost it if needed.

6. Risk Management: Recognize that real estate investing can be risky. To reduce these risks, consider strategies like spreading your investments across different options, getting insurance coverage, and setting aside some extra funds for emergencies.

7. Legal and Tax Aspects: Learn about the legal and tax aspects of real estate investment. Discover how you can take advantage of tax deductions and consider getting advice from experts to organize your investments effectively.

8. Networking: Connect with a group of real estate experts, such as real estate agents, property managers, and seasoned investors. Building these connections can give you useful information and open up potential opportunities.

9. Continuous Learning: Stay updated on market trends, investment strategies, and changes in real estate laws. Read books, attend seminars, and engage in online forums to expand your knowledge.

10. Mindset and Patience: Recognize that real estate investment is a marathon, not a sprint. It demands patience, determination, and the capacity to overcome difficulties. Cultivate a mindset focused on growth and gain valuable lessons from both your achievements and setbacks.

These must-knows provide a solid foundation for anyone starting in real estate. Remember that real estate investment is a journey, and ongoing education and adaptation are key to achieving your financial goals. 

I wrote and shared this blogpost for the ones planning to start and some who are shy to ask. If you might be wondering on some points above, I have an answer for spreading your investments strategically, here's my blogpost about Out-Of-State Investing.

Feel free to leave me a comment and I'd love to hear more about your insights, addition, and/or questions. 

Investing in out-of-state real estate can be a great opportunity, but it comes with its own set of advantages and disadvantages. Here are some pros and cons of investing out of state, based on my experience as an investor-friendly agent from Ohio.

Pros:

1. Diversification: Investing out of state allows you to diversify your real estate portfolio, opening doors to various opportunities in different markets with varying levels of risk and return. Spreading your investments geographically can help mitigate risk.
2. Find Better Deals: Some out-of-state markets may offer tailored deals that yield higher returns and potential for property appreciation, aligning with your preferences.
3. Market Selection: You have the flexibility to choose from a wide range of markets that align with your investment goals, whether that's cash flow, long-term appreciation, or a combination of both.
4. Leverage Local Expertise: You can tap into the knowledge of local real estate professionals, such as real estate agents, property managers, and contractors, who have insights into local market dynamics. This freedom allows you to work virtually anywhere.
5. Tax Benefits: Depending on your home state and the state where you invest, you may benefit from tax advantages, such as lower property taxes or tax incentives for real estate investors.
6. Portfolio Growth: Investing out of state allows you to expand your real estate portfolio, potentially increasing your overall income and wealth.

Cons:

1. Lack of Local Knowledge: Being unfamiliar with the local market and regulations can pose risks. Decisions made based on incomplete information may lead to costly mistakes.

2. Market Volatility: Out-of-state markets may be subject to different economic cycles and market trends than your local area, making it important to understand and adapt to these fluctuations.

3. Increased Risk: Investing out of state carries additional risks, such as unforeseen market changes, regional economic downturns, and natural disasters, which can be more challenging to manage from a distance.

4. Legal and Regulatory Differences: Real estate laws and regulations vary from state to state. It's essential to familiarize yourself with the legal requirements and potential challenges specific to the state you're investing in.

From my experience working with hundreds of out-of-state investors from states like California, Washington, Massachusetts, New York, Texas, Arizona, and many more. They have all been very successful with their real estate purchases. Whether they are looking for turnkey or value-added deals, opening themselves up to other markets provides more opportunities to meet industry professionals and access better deals, both on and off the market. I have consistently found deals for my clients that make sense to them, and they have been consistently buying in markets like Columbus, Cleveland, Dayton, and Cincinnati. Understanding and analyzing markets and deals require extensive research.

Feel free to leave me a comment.

Hi James, 

I think your head is in the right place looking to invest out of state! I am located in Columbus and do deals almost everywhere in Ohio (Cleveland, Dayton, etc). I am an investor friendly agent who works primarily with out of state investors and find them good deals!. I also make my own neighborhood grade map across all the major markets in Ohio. If you're looking for a market with low crime rates, great affordability, and high cash flow then Ohio offers a great opportunity and I can help you! 

Columbus is also a growing city with a few major companies moving to the area in the next few years bringing thousands of jobs, and with new jobs come people. Population growth is .75% year-over-year, employment growth is 3.58% year-over-year , and rents in Columbus have increased 6% year-over-year, making it a great market to have a buy and hold in. Having a budget around 200-250k can get you a great property in the suburbs with minimal rehab and great cash flow! 

I’d love to get connected with you to discuss more about the opportunity here that we have to offer. Let me know how I can help! 

Hey Kevin! Welcome to BiggerPockets!

I am an investor friendly agent specializing in the Ohio market and my team and I have a good infrastructure in place for out of state investors (i.e. connections to contractors, property management companies, lenders etc.) Let's connect and see how we can help each other out!
But I personally like Columbus due to its growth and some surrounding suburbs have cheaper pricing, good rents, and good population growth also.

Hello Giancarlo! Welcome to BiggerPockets!
My advice is that it is most advantageous to begin with local investments and gain firsthand experience in managing your own properties. It saves you money and time. Personally, I focused my investments in the Columbus area, and as a result, I have built a network of property managers, general contractors, lenders, and others whom I can highly recommend.

If you are interested to hear more, please let me know so that we can connect. 

• House hacks are a great way to get into real estate with minimal down and reduce your living expenses while having a tenant pay down the mortgage. Once you get a house hack then look at investing in other states with large population growth and job opportunities.