Illinois BRRRR Investor Looking to Expand to Ohio — Need Advice
Hey everyone,
I’m a realtor and investor based in Illinois. My brother and I use the BRRRR model in Chicago, mainly focusing on distressed properties and Section 8 rentals. Would like to BRRRR in Ohio as well.
We’re now looking to expand into Ohio (Cleveland and Columbus), but I’m noticing that market rents seem low, which makes it harder to cover the mortgage unless the deal is bought really well or all cash. Section 8 looks promising in some areas, but I’m trying to understand how people are consistently making deals work.
Would love insight on:
- Are you relying on Section 8 to make deals work?
- Is Columbus a good market for this strategy?
- Any specific areas or pockets you recommend?
Also open to connecting or partnering with anyone active in these markets. Will need a good realtor and property management company.
Appreciate the help!
Most Popular Reply
Hi Saquib,
You can absolutely rely on Section 8 to make deals work and I know plenty of investors who do this. The saying "there is more than one way to skin a horse" also applies to section 8 rentals in Cleveland. I know some investors who have an in with the VA and get section 8 tenants through there, others who have an in with a property manager who has section 8 tenants on standby, and others who do very well just posting the property on zillow.
A key here is yes it is section 8 and you don't want to be using the most expensive materials but at the same time a quality property is going to rent quicker and get higher rents. If you buy 10 properties you might want to write off atleast 1 of those properties getting trashed because it does happen.
I am an investor focused agent here in Cleveland and would be happy to answer any other questions you might have or get you connected with whoever you might need, send me a message if interested.
- Keyano Burgess
- [email protected]
- 216-387-7220
