Investor · CA · Member since 2020 · 14 posts · 11 votes
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
4y
@Zach Wagner as an investor who had to also invest out of state before (I used to live in NYC) I would highly suggest investing in a city that you have a network in. Meaning, while I live in NYC I invested in Jacksonville, Florida. Not because Jacksonville, Florida had the best returns but because I already knew a few people who could get me plugged in with other vendors, etc. When you invest out of state you may never even see your property. That's an immense amount of trust to put into someone. So if you know some people in "City X"....but "City Y" has better returns - stay with "City X". In the long run you will make more money with people who will take care of your assets. I hope that makes sense.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
4y
@Zach Wagner as an investor who had to also invest out of state before (I used to live in NYC) I would highly suggest investing in a city that you have a network in. Meaning, while I live in NYC I invested in Jacksonville, Florida. Not because Jacksonville, Florida had the best returns but because I already knew a few people who could get me plugged in with other vendors, etc. When you invest out of state you may never even see your property. That's an immense amount of trust to put into someone. So if you know some people in "City X"....but "City Y" has better returns - stay with "City X". In the long run you will make more money with people who will take care of your assets. I hope that makes sense.
Investor · CA · Member since 2020 · 14 posts · 11 votes
4y
@Kerry Noble Jr Thank you for the feedback! I’ll give them a look. @Andrew Postell Yeah I know exactly what you mean. However I do not know anyone yet. My plan was to find a good market to use the BRRRR strategy and then find a good team to work with (agent, property manager, contractor, and lender). People who I can trust with my property. That's why I'm asking on here. I figured I'd use the knowledge of people who have done it before me.
Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
4y
The best markets to BRRRR in are generally the midwest and southest (i.e. Oklahoma City, Kansas City, Des Moines, Birmingham, Memphis, etc.). The coasts are too expensive and the Rust Belt is pretty run down. But there are definitely still opportunities in the Rust Belt.
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
Orlando, FL · Member since 2015 · 42 posts · 32 votes
4y
Following! Thanks for asking. Out of state scares the hell out of me. I've saved $$ doing simple work myself like painting or basic landscaping. I'm sure I'll be ready for that one day.
I think all-in at 100K is going to be tough. If it were easy to push the button to do a BRRRR in Ohio or Indy with 100k we'd all do it. I'm trying to do LOCAL BRRRRs in PA and having a heck of a time! =)
Where are you located in CA? Are there any markets within driving distance you can start in instead of rolling the dice thousands of miles away?
I think all-in at 100K is going to be tough. If it were easy to push the button to do a BRRRR in Ohio or Indy with 100k we'd all do it. I'm trying to do LOCAL BRRRRs in PA and having a heck of a time! =)
Where are you located in CA? Are there any markets within driving distance you can start in instead of rolling the dice thousands of miles away?
Why are you having a heck of a time doing BRRRRS in PA
I figured that's what you meant by a heck of a time 😀. So as a new investor where is the hope? Just keep searching and searching or is there a certain type of REI I should be looking into instead of BRRR
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
There's a recent thread here about investing in Mississippi, someone posted about readily available brrrr/flips within your price range. Run a search and you will find it. Potential does exist there
The best markets to BRRRR in are generally the midwest and southest (i.e. Oklahoma City, Kansas City, Des Moines, Birmingham, Memphis, etc.). The coasts are too expensive and the Rust Belt is pretty run down. But there are definitely still opportunities in the Rust Belt.
Thank you, I have looked into a few of those. When you refer to the Rust Belt, what are you referring to? I have never heard that term.
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
Any luck on BRRRS recently?
Im just starting on my investment journey. So I have yet to get a property under contract. Im doing as much research as I can because investing out of state can be risky. However, I'm willing to make the sacrifices necessary for a positive outcome.
@Zach Wagner ok, what part of California do you live in?
I currently travel California for work. However, I'm from central CA. All the markets are too expensive for the capital I have on hand. I plan to invest here in the future after having a good portfolio built up and some more capital. Until then my best bet is out of state.
I think all-in at 100K is going to be tough. If it were easy to push the button to do a BRRRR in Ohio or Indy with 100k we'd all do it. I'm trying to do LOCAL BRRRRs in PA and having a heck of a time! =)
Where are you located in CA? Are there any markets within driving distance you can start in instead of rolling the dice thousands of miles away?
Im not looking to BRRRR just anything. I mainly want very distressed properties that I can buy all cash via private money lender. I'm from central CA. As far as I know of there are no markets near me in the price range I can afford currently.
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
There's a recent thread here about investing in Mississippi, someone posted about readily available brrrr/flips within your price range. Run a search and you will find it. Potential does exist there
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
Any luck on BRRRS recently?
Im just starting on my investment journey. So I have yet to get a property under contract. Im doing as much research as I can because investing out of state can be risky. However, I'm willing to make the sacrifices necessary for a positive outcome.
Where are you looking at properties? On the MLS or somewhere else? Are you calling agents and asking them, I’m only asking because I’m trying to figure out where to point my energy as far as analyzing deals and finding them.
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
Any luck on BRRRS recently?
Im just starting on my investment journey. So I have yet to get a property under contract. Im doing as much research as I can because investing out of state can be risky. However, I'm willing to make the sacrifices necessary for a positive outcome.
Where are you looking at properties? On the MLS or somewhere else? Are you calling agents and asking them, I’m only asking because I’m trying to figure out where to point my energy as far as analyzing deals and finding them.
I don't have access to the MLS as far as I know. I believe you have to be an agent to do that. I search on Zillow, Realtor, etc. If I find one in a market that meets my criteria I take and analyze it myself with rough numbers, using one of the calculators provided here. I'm in the process of searching for a rockstar investor friendly agent that can use their knowledge to help narrow my results and be the start of my team.
Hey there everyone! I'm a newbie to real estate investing and I have been stuck in analysis paralysis. I've been trying to gain as much knowledge as I can before pulling the trigger on a property. I live in CA and I'm looking to invest out of state. I was wondering if anyone knows of good cities to BRRRR in this current market. I'm looking for properties in the B or C class neighborhoods. Primarily single family homes (all in purchase + rehab around $100k). My main focus is cash flow but I would love for the property to appreciate over time as well. Thanks in advance, any advice or insight helps.
Any luck on BRRRS recently?
Im just starting on my investment journey. So I have yet to get a property under contract. Im doing as much research as I can because investing out of state can be risky. However, I'm willing to make the sacrifices necessary for a positive outcome.
Where are you looking at properties? On the MLS or somewhere else? Are you calling agents and asking them, I’m only asking because I’m trying to figure out where to point my energy as far as analyzing deals and finding them.
I don't have access to the MLS as far as I know. I believe you have to be an agent to do that. I search on Zillow, Realtor, etc. If I find one in a market that meets my criteria I take and analyze it myself with rough numbers, using one of the calculators provided here. I'm in the process of searching for a rockstar investor friendly agent that can use their knowledge to help narrow my results and be the start of my team.
Where are you looking for that realtor? Are you looking for a single family house hack? Or a single family rent and then refi down the road?