Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 4 months ago on . Most recent reply

User Stats

4
Posts
11
Votes
Jason Weidmann
11
Votes |
4
Posts

Looking to start investing in LTR,

Jason Weidmann
Posted

Certainly! Here’s a more polished version of your message:

Hello BiggerPockets community,

A close friend has been encouraging me to get into real estate investing for years. My wife and I recently met with them to seek advice and guidance, which ultimately led us to BiggerPockets. Since then, we have been dedicating our time to learning as much as possible—reading extensively, analyzing potential deals, and listening to BiggerPockets podcasts.

After careful consideration, we decided to sell our current home and rent instead, allowing us greater flexibility as we begin our real estate investment journey. The sale of our home will provide us with approximately $150,000 to allocate toward investments.

At this stage, we feel most comfortable focusing on long-term rentals. However, due to high property costs in our local market, we have been exploring opportunities in more affordable states, including Texas, Pennsylvania, Michigan, and Ohio. Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.

Does this sound like a solid strategy for a first investment property? We would appreciate any insights or advice from those with experience in long-distance investing.

Thank you!

Most Popular Reply

User Stats

1,805
Posts
1,797
Votes
Marc Rice
  • Real Estate Agent
  • Columbus Cleveland Dayton, OH
1,797
Votes |
1,805
Posts
Marc Rice
  • Real Estate Agent
  • Columbus Cleveland Dayton, OH
Replied
Quote from @Jason Weidmann:

Certainly! Here’s a more polished version of your message:

Hello BiggerPockets community,

A close friend has been encouraging me to get into real estate investing for years. My wife and I recently met with them to seek advice and guidance, which ultimately led us to BiggerPockets. Since then, we have been dedicating our time to learning as much as possible—reading extensively, analyzing potential deals, and listening to BiggerPockets podcasts.

After careful consideration, we decided to sell our current home and rent instead, allowing us greater flexibility as we begin our real estate investment journey. The sale of our home will provide us with approximately $150,000 to allocate toward investments.

At this stage, we feel most comfortable focusing on long-term rentals. However, due to high property costs in our local market, we have been exploring opportunities in more affordable states, including Texas, Pennsylvania, Michigan, and Ohio. Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.

Does this sound like a solid strategy for a first investment property? We would appreciate any insights or advice from those with experience in long-distance investing.

Thank you!


 OC California is very expensive so investing out of state can be a good option. In Ohio you can find a lot of single family in the $100-200k range or 2-4 units in the $150-400k range that do pretty well cash flow. You basically have high growth and low cash flow Columbus OR decent growth and solid cash flow of Cleveland, Dayton, and Cincinnati. 

If you want very stable and low headaches, B class Columbus is great if you can stomach 0 to negative cash flow. If you want higher growth then Cleveland and Dayton type markets with $100-150k prices may be better suited.

I would encourage BRRRRs after your 1-2nd so you can recycle your money.

business profile image
REAFCO | Tailwind Team
5.0 stars
35 Reviews

Loading replies...