All Forum Posts by: Marc Rice

@Marie St Fleur Search the BiggerPockets agent database for realtor recommendations for Cleveland. Make sure to really identify what your criteria is and then an agent will be able to help you out. Cleveland is great for cash flow but lacks a lot of the appreciation we're seeing in Columbus. Good luck and let me know if I can be of any help!

@Tim Lazor I think the first step is to write out your goals for your properties you'd like to own. Do you want purely cash flow, a hybrid of cash flow and appreciation, or appreciation with little cash flow? It sounds like you have access to appreciation with little cash flow where you are now in NYC. If you're looking to BRRRR you're going to want a market with rising values and equity to unlock post rehab.

I then would identify a few markets that you think would match your market criteria and start to interview investor friendly agents in that local market. The agent will be key to connect you with all of the local resources in that location. And especially if you're BRRRRing you'll want a great local team.

I know you're still analyzing markets, but I'd strongly recommend looking at Columbus, OH for its hybrid of cash flow and appreciation. It's a massively growing city and a lot of out of state investors are flocking here for the growth.

@Adam Leonti I currently live in Columbus, OH and highly recommend it as a good entry market. It has lower purchase prices which means lower barriers to entry. If you're looking to own property here it is great. If you want to wholesale here it also would work since there is a lot of demand, but if you really want to avoid the 9-5 life you'll need to own rentals to build wealth and passive income. 

@Andrew Yen

The BRRRR method is a fairly advanced technique. I would recommend a house hack to get you started so you can learn the process and not go broke on the first deal.

@Brittnay Hogan

I’d first recommend connecting with a local investor friendly agent in Cleveland who can help connect you with the other pieces to your team.

@Rob McAllister

This will be a great niche if you have the right team in place!

@Cory A Ferrier

If you ever venture to Columbus I’m happy to help manage here!

@Cory A Ferrier

If you ever venture to Columbus I’m happy to help manage here!

@Jill Williamson

I think you’d be best to just help the tenant find somewhere else to go and bang out the rehab fast.

@Bryson Goforth

You could pay an attorney to draft the purchase and sale documents. Would probably be under $1,000.