Currently Investing but Looking to Expand

Out of State Investing
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Currently Investing but Looking to Expand

Abdel Abdelsadig
Member since 2026 · 1 post · 1 vote

Hi everyone,

I'm 22 and partnered with a contractor in college to owner finance a property that we own 50/50 and are closing on another deal by the end of the month which we will be purchasing in cash again at a 50/50 split.

These are both duplexes in Maine, the first property has been fully rented out and covers the costs while this new one is currently vacant, our goal is to sub out work on the properties and get the second one fully rented by the end of the year so it can start cashflowing and do some minor upgrades on the first property.

Apart from these two properties I have about $60k on hand from savings and alternate investments that I'm looking to use to enter a new market solo or in a partnership. I'm currently living and working in NYC but as we know REI in NYC is about as real as a pipe dream with this much unless I can get someone to owner finance and even then the taxes would eat it up.

I'm looking for advice on markets that I should be looking at, I'm really interested in multifamily, commercial, and large scale residential but I know I probably need more experience before I look that way (Anyone looking to partner or teach would be awesome too!). I love the idea of BRRRR but know that means I'd need to get super intimate with a certain market and I'm looking for advice on if anyone has opinions on the best approach to starting in a new market.

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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    1d

    Welcome, Abdel, and congrats on getting two duplexes under your belt at 22. That's a real head start. On starting in a new market: pick one and go deep before spreading out. Spend a few weeks running numbers on every duplex or small multifamily that hits the market so you learn real rents, taxes and rehab costs. Then build the team before the deal: a property manager, a lender, a contractor and an agent who invests themselves. For BRRRR especially, the contractor's pricing and the appraisal matter more than any spreadsheet.

    Since you like multifamily, Columbus is one place worth a look. In my experience small multifamily starts around $200K, and we're still finding deals that hit the 1% rule and cash flow after expenses, though the best ones go quickly. I enjoy networking with investors working through this, so feel free to connect and I'll see where I can help.

    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
    WebsiteView Page
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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    1d

    Nice start at 22, Abdel. On picking a new market: I'd choose by fundamentals first (price-to-rent ratio, landlord-friendly laws, job and population growth), then commit to one metro and learn it block by block before spreading out. That's what makes BRRRR work, because your rehab and ARV numbers are only as good as your local comps. I'm an investor and agent in Columbus, Ohio, and in my experience we're still finding multifamily and SFH deals that hit the 1% rule and cash flow after expenses, with purchase prices that leave room for $20K-$30K of built-in equity. With $60K, I'd also look at house hacking a small multifamily in the new market, since owner-occupant financing can stretch your cash further. What's your target cash-on-cash return and how hands-on do you want to be?

    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
    WebsiteView Page
    0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 952 votes
    21h
    Quote from @Abdel Abdelsadig:

    Hi everyone,

    I'm 22 and partnered with a contractor in college to owner finance a property that we own 50/50 and are closing on another deal by the end of the month which we will be purchasing in cash again at a 50/50 split.

    These are both duplexes in Maine, the first property has been fully rented out and covers the costs while this new one is currently vacant, our goal is to sub out work on the properties and get the second one fully rented by the end of the year so it can start cashflowing and do some minor upgrades on the first property.

    Apart from these two properties I have about $60k on hand from savings and alternate investments that I'm looking to use to enter a new market solo or in a partnership. I'm currently living and working in NYC but as we know REI in NYC is about as real as a pipe dream with this much unless I can get someone to owner finance and even then the taxes would eat it up.

    I'm looking for advice on markets that I should be looking at, I'm really interested in multifamily, commercial, and large scale residential but I know I probably need more experience before I look that way (Anyone looking to partner or teach would be awesome too!). I love the idea of BRRRR but know that means I'd need to get super intimate with a certain market and I'm looking for advice on if anyone has opinions on the best approach to starting in a new market.

    You're off to a solid start at 22. With $60K, I'd focus on one market, learn the neighborhoods, and get comfortable running the numbers before jumping into bigger projects. I'd look at Midwest markets, where lower purchase prices can give you more room to find multifamily deals and BRRRR opportunities. Having a reliable local contractor and property manager is key if you're investing from NYC.

    [email protected]614-418-6081
    0Reply
  • Alejandro Lopez
    Real Estate Agent · Houston, TX · Member since 2026 · 10 posts · 2 votes
    2h

    Congrats on locking down two duplexes at 22—partnering with a contractor early is smart leverage.

    If you're looking at Greater Houston from NYC with ~$60k, here is the honest operational reality. On paper, Texas looks like an out-of-state investor's dream because entry prices on small multifamily and single-family can sit in the $180k–$220k range.

    Harris County (HCAD) reassesses aggressively post-sale, and wind/hail/hazard insurance on older roofs or flood-plain adjacent areas has jumped significantly. That means an advertised 8% cash-on-cash pro forma can compress into a break-even 1.10 DSCR very quickly once debt service is factored in.

    With $60k, a solo BRRRR down here leaves almost zero liquidity cushion once you account for a 20–25% down payment or hard money holding costs, closing fees, and surprise cast-iron plumbing or foundation leveling (which are standard rites of passage in Houston).If you look here, your best move with that capital is either:

    Partnering up with a local operator who has existing boots-on-the-ground contractor crews and off-market deal access so your liquidity isn't exposed to out-of-state project management delays.

    Target suburban BC buy-and-holds (areas like Pasadena, Baytown, or Spring) where you aren't doing heavy structural repositioning, and focus purely on locking down realistic, post-closing tax and insurance numbers before you offer.

    0Reply
  • Caleb Brown
    Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
    1h

    Happy to chat on Kansas City. Solid market for various strategies

    0Reply
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