Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

How Soli Chose A Market To Buy Real Estate!

28 Dec 2022 · 1 min

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Soli picked Cincinnati for their first out-of-state real estate investment after finding homes around $100,000 on Zillow, well below budget. They had a local investor connection there, which they say is crucial when choosing a market. With $50,000 available, a $20,000 down payment on a $100,000 property made the math work.

Chapters

Yeah, so I chose Cincinnati, Ohio, and so I flew out there and was like amazed by how good the food was, how nice the people were. It was really vibrant. And then I went on Zillow and it was like $100,000 houses and I was like, whoa, this is cheap. I know one investor there and I chose that as my competitive advantage. So I always tell people when they're looking for a market, if it's out of state, look for your competitive advantage. If you have a friend there who is an agent or you used to live there or you have family there, It's just because people get so overwhelmed about like, oh my gosh, there's hundreds of markets that you can choose from and they get so like decision fatigue that they never make a decision. So for me, I honestly didn't even think that it was weird to pick a market so fast. I only knew one person there, but it was good enough for me and the, and the budget made sense. So I had $50,000. The houses were about $100,000. I could put $20,000 down and buy my first property.