New Investors from Florida Looking to Start BRRRR in Ohio

[Silvio Tyson]

Hi everyone,

My business partner and I are based in Florida and we're preparing to start our out-of-state investing journey in Cleveland, Ohio using the BRRRR method. We're very motivated and have already identified a few distressed properties in Cleveland that we believe could be strong candidates for our first deal.

We’d love some input from experienced investors here on a few key things:

1) LLC Structure – should we open a Florida-based LLC and register as a foreign entity in Ohio, or simply open an Ohio-based LLC to make things easier with contractors, utilities, and local banks?

2) Long-Distance Tips – What are your top recommendations for out-of-state investors getting started in a market like Cleveland or any other markets?

3) Any advice on building a reliable local team (agent, GC, PM)?

4) Mistakes to avoid when investing from out of state?

We have a couple of properties in mind and are almost ready to make offers. Before we pull the trigger, we want to be sure we’re taking the right steps legally and logistically. Any advice on how to structure that first deal remotely?

Our ultimate goal is to build a small but strong portfolio of cash-flowing rentals, with a focus on long-term growth and smart refinancing.

Appreciate any insights, recommendations, or connections you’re willing to share. Thanks in advance!

—
Silvio

[Zach Berry]

Hey Silvio - hope all is well! I work with a few major wholesalers in NE Ohio that could be beneficial when sourcing off-market deals over there. I also lend to a few big flippers here too; feel free to give me a shout if I can be helpful for you guys! Good luck!