All Forum Posts by: Peter Dorinsky

Hello! I’m Dana and I’m new to Real estate investing. I’m a travel nurse based in Tacoma WA and I’m hoping to get my first rental property this year so I can provide housing to fellow travel nurses. I’ve gone thru the process of home buying with our first home but I’m here now seeking guidance on how to get started with acquiring rental properties and analyzing deals. Goal is to have mid term rentals but I’m also open to long term! Happy to connect and learn!

Hey Dana, welcome to BP! Are you looking to invest locally or are you looking at out of state markets? If you're still actively traveling for your job that's a great way to research markets and make connections with local professionals. If you're not yet decided on a market you'd like to invest in I'd suggesting starting there. If you're still researching, I'd recommend looking into the Midwest markets, especially if you have a travel contract in any of those markets.

0 Votes

Tacoma, Washington

Quote from @Brandon Morgan:

hey all I am new to Real estate and have been trying to buy a property for the last 2 years but it is not working out. I live in the New Jersey New York area and prices continue to climb and they do not look like they are falling any time soon. Recently I have been thinking about investing out of the state . I have been thinking Florida or somewhere else down south could be a good idea. Does anyone have any experience or advise with this? I make a little over 100k a year and have 50k currently ready for a down payment. any insight would be helpful.

Hey Brandon, have you considered house-hacking in your local market? It's a great way to get a foot in the door and it provides more lending options as well if you owner-occupy. If plan to invest out of state it'll be crucial to develop your core-4: https://www.biggerpockets.com/blog/core-four-real-estate-tea...
Having a solid team around you will be fundamental to your success. Have you considered any markets in the Midwest? The Midwest markets offer a lower barrier to entry as they provide lower home prices and taxes, a lot of these markets are landlord friendly as well. If possible I'd also recommend visiting the market you plan to invest in to familiarize yourself with area and connect with locals. Happy to connect and chat more if you have questions. Best of luck!

0 Votes

Fort Lauderdale, Florida

Quote from @Sammy Marshall:

I've been seeing a lot of posts on here about investing in Columbus due to its expansion in the tech industry. My question is, if I were to buy a property in the Columbus area, would I market it as a STR, MTR, or LTR? If people are looking to move there full time for a new job, I'm assuming STR is out and people would need a MTR while they're trying to find their forever home or a LTR if they weren't looking to buy. For people that do MTR and LTR, how much a month would you be looking to make for it to be considered a "good investment"?

I've only ever researched and looked in depth into STR but would be interested in expanding if the numbers of a MTR/LTR outweighed the benefits of a STR.

Thanks in advance, everyone!

Sammy

Hi Sammy! As already mentioned, any of these strategies can work in the Columbus market. But the strategy that works best for you will also depend on your budget and if you have any preferred zip codes that you'd like to invest in. Getting in contact with local property managers can help give you an idea of what kind of rents to expect based on the property and location. Start analyzing properties using each strategy and see what works for you. It also depends on your level of tolerance, are you planning to self-manage or would you be looking to hire a property manager? Happy to connect and chat more if you're interested.

2 Votes

Columbus, Ohio

Quote from @Sandy Santosh:

Hi All,

I am completely new to this platform. Looking for insights on areas for investing on a townhome with potential appreciation and rental cash flow.

Are there any good markets for 2024?

Thanks,

Pratyusha.

Hey Sandy, I'd suggest looking into Columbus, OH! There's a lot of growth in the market from major tech companies expanding their business in the area. Most notably is Intel investing $20 billion to build chip manufacturing plants just outside of Columbus in Logan county. Zillow is also predicting that Columbus will be the third hottest market this year: https://columbusunderground.com/zillow-columbus-will-be-the-...
Happy to connect if you have more questions.

2 Votes

Allentown, Pennsylvania

Quote from @Elizabeth Roth:

Hello!

I have been thinking about real estate investing for quite a while and am ready to buy my first property. I live in San Diego now but am looking to invest in Ohio and Upstate NY. I am hoping to connect with other investors in those area to learn from your experience!

Hey Elizabeth, welcome to BP! There are some great opportunities in the Ohio markets. Columbus specifically is rapidly growing with many tech giants expanding their business in the area. Cleveland is also a great market to check out, especially if you're looking for cash-flowing deals. If you're set on investing out of state, whatever market you decide to invest in it'll be important to develop your core-4: https://www.biggerpockets.com/blog/core-four-real-estate-tea... I'd also recommend visiting those markets in-person if possible to familiarize yourself with area and make connections with locals. Happy to connect and chat more!

2 Votes

Quote from @Michael Zandona:

First post on BP. I’ve been researching and taking first steps to buy my first OoS property in Columbus. Anyone local want to confirm if work is slowing down at the plant site?

https://thehill.com/opinion/4517470-dei-killed-the-chips-act...

Intel has affirmed their commitment to Ohio, sluggish funding from the CHIPS Act isn't helping things, but construction hasn't ceased and they're projecting a 3-5 year completion date from when they broke ground in 2022.

- https://columbusunderground.com/intel-opening-date-pushed-ba...
- https://www.daytondailynews.com/local/intel-announces-delay-...

1 Vote

Columbus, Ohio

Quote from @Jake Posner:

Hi, I am based in South Florida -- looking to buy first rental property, looking out of state at Markets like Columbus, Memphis, Pittsburgh.

Targeting cash flowing properties on the east coast. Looking to connect with folks familiar with these areas or similar.

Hey Jake, welcome to BP! Would be happy to connect and chat about the Columbus market if you're looking to do further research. Columbus has been experiencing a lot of growth from major companies in the tech sector expanding their presence in the market.

3 Votes

Miami, Florida

Quote from @Andy Wu:

Hi everyone! I'm Andy, I'm orignally from California but moved out to Texas. I've been watching a bunch of BP episodes and doing a bunch of research. I'm a newbie but I'm a fast learner and I believe I'm a pretty competent person in general. I see on podcasts other people doing it as a newbie and have made it to the big league. I want to the out of state investing as it seems like a better place to get started. I realize that it is harder to start out of state but from what I've read/known the process is very similar to doing it in-state. Ideally I'd like to BRRRR. I want to buy a property for around $50-100k, rehab it for maybe another maybe 30-50k and rent it out. The cash flow looks great for that amount of money. Excited to get out of analysis paralysis and start taking action. Hopefully I can be like some of you one day. If there are any local investors out there I'd love to connect!

Bests, Andy

Hey Andy, welcome to BP! There are some great opportunities in the Ohio markets if you're looking to BRRRR. I agree with a lot of what has already been said. Taking on a big renovation project for your first out of state deal can be especially challenging if you're managing contractors that you've never worked with before. If possible it's definitely worth visiting the market you plan to invest in so you can start to build relationships and familiarize yourself with the area. Starting out with something turnkey that will cash-flow is an easier way to get your foot in the door. Regardless, it'll be vital to build your core-4 if you plan to invest out of state, I'd recommend reading this article by David Greene: https://www.biggerpockets.com/blog/core-four-real-estate-tea...

4 Votes

Cleveland, Ohio

Quote from @Chen Avnery:

My name is Chen Avnery, I am new to real estate investments in general and am focused on Columbus.

I have over 15 years of experience in software engineering, specializing in data and AI. I hope my abilities will serve me right with real estate investments.

I am interested in buy and hold or fix & flip deals of SFH up to $250K.

I would be happy to get some tips and start building connections and a local team.

I appreciate your help,

Chen

Hey Chen, welcome to BP! Would love to connect and hear more.

4 Votes

Columbus, Ohio

All Forum Posts by: Peter Dorinsky

Peter Dorinsky has started 0 posts and replied 140 times.

Post: Looking to connect with an Agent

Post: New to Real estate - Travel RN

Post: investing out of state

Post: STR, MTR or LTR?

Post: Suggestions for strong markets and how to decide

Post: Real estate newbie

Post: Intel Pulling the Plug?

Post: Looking to buy first rental property

Post: Wanting to invest out of state as it is cheaper and more value

Post: New to real-estate investments