Rental Property Investor · Member since 2024 · 6 posts · 30 votes
I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?
Please reach out if you have any real estate groups I can join!
Real Estate Consultant · San Antonio TX Canyon Lake TX Fort Walton Beach FL Cape Coral FL Clarksville TN Sumter SC and Lawton, OK · Member since 2008 · 139 posts · 128 votes
I live in Texas. I invest in TN, TX, OKla, FL, SC... Oklahoma has the most potential. Prosperity Bank serves both TX / OK. They will lend on stock / ETFs / Mutual Funds. Invest in a stock or fund with a huge upside on appreciation (think AI / Robotics). Collateralize it for the down payment of a discounted buy in OK / TX. Rock solid rental while the money is in the stocks doing double duty as the principle investment as well as your down payment equivalent. Buy the rock solid rental and get your appreciation, cash flow, depreciation, principal pay down, equity capture on a discounted by and forced appreciation gain for a well targeted rehab.
When you're first starting out a house hack is a great way to get started. There are low downpayment programs and a lot of first time buyer grants. Some don't need two years of income if you're right out of college which can be a big help.
Being in college, you will want as little distraction as possible. You should either do a househack as someone else suggested, or consider a passive investment into a syndication opportunity for non-accredited investors, or through a reg CF offering. That way you won't have to concern yourself with repairs or evictions and things like that so you can focus on your classes. However, if you really want to buy something, if you consider East Idaho, I'd be happy to help you find something and help get the management you need to make it as hands off for you as possible.
Hey Danny, I'm a realtor based in Pleasanton, CA. It's great to hear about your interest in real estate investing. Given your current savings and monthly savings rate, you're in a strong position to start your journey.
BRRRR Strategy
The BRRRR method is a powerful way to build your real estate portfolio by leveraging your initial investment to acquire more properties over time.
Cleveland vs. Columbus
Both cities are promising markets for real estate investment but have different strengths.
Cleveland: - Affordability: Lower home prices, making it easier to enter the market.
- Strong Rental Market: High demand for rentals.
- Economic Stability: Supported by a stable healthcare sector.
- Cash Flow Potential: Often meets the 1% rule, indicating strong cash flow.
Columbus: - Growth and Demand: Booming population and tech industry.
I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?
Please reach out if you have any real estate groups I can join!
Ohio has several different markets. If you want cashflow Cleveland and Dayton is the place to BRRRR. If you want strong growth, appreciation, and cashflow then Columbus is the way to go.
I personally only BRRRR in Columbus since the larger growth is here with big companies launching here and areas growing very fast.
Hello!!! I am an Investor Agent in Tampa Florida. Most of my clients are OOS. You need to build really strong relationships with a Real Estate Agent and contractors. Your Realtor will be your go to person the entire time. They are your boots on the ground. Look into your loan options as well.
@Tommy Ray. Thanks for sharing your knowledge and I would like to connect since you have a lot under your belt. Will it be able to do so? Please let me know, thanks.
Real Estate Consultant · San Antonio TX Canyon Lake TX Fort Walton Beach FL Cape Coral FL Clarksville TN Sumter SC and Lawton, OK · Member since 2008 · 139 posts · 128 votes
I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?
Please reach out if you have any real estate groups I can join!
Morning from Indianapolis
I have heard lots of great things about the Ohio market. I am an investment friendly agent in Indianapolis as I have lived her most of my life. I think investing in the Midwest regardless is a great call as you can buy alot more properties out here v the coasts. Good luck!
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