All Forum Posts by: Peter Dorinsky

Does fix& flip still make sense??? in 2024? -- was wondering about that, 2nd. thing that comes to my mind is what you guys think about : " buy & hold " in the areas like: OH, MI, TN,AR, TX, FL ?? -- and what would you invest in this area, as rentaL properties: condos, SFH ? - how big , etc. thanks

Fix and flip is a great strategy as long as the numbers make sense with your purchase price and the ARV comps you're pulling. Your success sourcing those deals may vary depending on the markets you're looking in. There are great opportunities in the Midwest markets whether you're looking to fix and flip or buy and hold.

2 Votes

Quote from @James Robert:

I have flipped a few houses now with conventional loans getting started. Made some good money. Bought a 325k house in one of the best neighborhoods. Worth about 450 if fixed up. Been here 6 months with a roommate that rents from me. I don't want to sell this. I would rent it. Currently doing a non-live-in flip that I am funding with hard money. After the flip is done I will have about 80k liquid cash to play with. Should I just buy something else with 5% down and move into it? I have been HUNTING for more flip deals that I can buy whenever i want with hard money. Just nothing really out there. I don't want to be in limbo. Should I broaden my search to out of state? I am feeling some analysis paralysis. Flipping houses is my main source of income.

Hey James, have you been looking for deals both on and off the market? Have you also looked into other nearby markets like Columbus? It would still be within driving distance for you and I think there are some great flip opportunities as well.

0 Votes

Cincinnati, Ohio

Quote from @Joshua Posada:

Im interested in apt buildings and am curious about some of the not so obvious issues with this. any feedback or ideas is greatly appreciated

Hey Joshua, I would also suggest house-hacking for your first deal if possible. It's a great way to get your foot in the door and help you save for your next investment. It's easiest to start in your local market where you can be hands-on and already have knowledge about the area. BiggerPockets has great resources for educating yourself on different markets and investment strategies. Once you've settled on a market and investment strategy I'd recommend making connections with local agents, lenders, pm's, and contractors. BP is also a great place to connect with local professionals and build your team! Good luck as you start out!

1 Vote

Upstate New York, New York

Quote from @Alex Nauth:

Quote from @Peter Dorinsky:

Quote from @Alex Nauth:

I work remote and can work anywhere in the country so I'm looking to buy a quadplex anywhere in the US that makes the most sense. For now I'm more concerned about cash flow than appreciation, but open to anything anywhere. I know the I know with the sub $500k price limit it'll probably be somewhere in the midwest. I would prefer turn-key and open to LTR or STR (currently have 3 STRs).

If you are an agent that works with investors in a market that has quads, sub $500k, with at least a 10% cap shoot me a message!

Cleveland, OH is a great option if you're looking for a sub 500k quad that will cash-flow as an LTR. There are some other tertiary markets in Ohio as well that you might be interested in. If you're open to STR and even MTR, I'd say Columbus, OH is also worth looking into. Columbus is home to major hospitals such as Riverside, Nationwide Children's, and Ohio State's Wexner Medical Center. Many travel nurses and other professionals in the medical field travel to Columbus for work.

I've got a couple STRs now so I'd love to get into more of them. What areas are typically best for STR/MTRs in the Columbus area?

Here are some zip codes I'd take a look at: 43207, 43206, 43205, 43203, 43222, 43212. I think these are good areas to start looking in for MFH and are all within reasonable driving distance to the major hospitals.

0 Votes

Quote from @Alex Nauth:

If you are an agent that works with investors in a market that has quads, sub $500k, with at least a 10% cap shoot me a message!

4 Votes

Quote from @Matthew Tripp:

Hi all! I’m and emergency medicine physician based in Northern California. After 20 years of practice I am finally in a position to invest! I am in the process of learning as much as I possibly can. I am looking to invest outside of California and my goal is to close on 1-2 multi family investment properties in 2024. Look forward to learning from Bigger Pockets and all of you!

Welcome to BP Matthew! Do you have any areas in mind that you're looking to invest in? I've come across other investors from California that have taken an interest in the Midwest markets as they offer lower price points and cheaper taxes. If cash-flow and appreciation are your investment goals it'd be worth looking into what these markets have to offer! If you plan to invest out of state I'd also recommend reading this article by BP's David Greene about building your core-4: https://www.biggerpockets.com/blog/core-four-real-estate-tea...

Best of luck as you start out!

0 Votes

San Jose, California

Quote from @Mason Green:

Hey everyone, looking to purchase our first investment property and would appreciate some guidance. We are located in the midwest and looking at Kansas City and Chicago as we are familiar with both cities and have spent significant time in both. We would love to house hack and use a fha loan but, are open to all investing options. We are young (24 and 26) Any advice on either of these markets and options to invest in.

Thank you, Appreciate any information and advice given.

Hey Mason, I'd also suggest looking into some of the Ohio markets. Columbus specifically has many big-tech companies either moving into the market or expanding their business here, which is contributing to rapid economic development. Intel is investing $20 billion to build chip manufacturing plants in Licking County, which is projected to create 30,000 new jobs. This is the largest private investment in state history. In addition to Intel, other big companies like Google, Amazon and Facebook are also expanding their business here in Columbus. Columbus is also home to The Ohio State University, one of the largest public universities in the country, as well as L Brands, a big player in the retail industry. Happy to connect if you're interested in learning more about the market! Best of luck!

2 Votes

Hey Dave, welcome to BP! There are some great LTR opportunities in the Ohio markets. Would love to connect!

0 Votes

Chicago, Illinois

Quote from @Ariel Rahmanov:

Hi everyone, just joined BiggerPockets and I am very excited to start my journey as an investor to build wealth! I just signed up for the Real Estate Bootcamp. I am also a real estate agent from NY primarily serving Queens and Nassau County. I am looking to purchase my first rental investment property in 2024 probably not in NY, lol. Any tips/advice you can give to a rookie looking to invest long distance

Hey Ariel, I'd recommend looking into the Ohio markets. If you're looking for a landlord friendly state with lower taxes and lower price points, Ohio might be a good fit.

After you settle on a market you want to invest in, I'd recommend building your core-4:
https://www.biggerpockets.com/blog/core-four-real-estate-tea...

1 Vote

Quote from @Apoorva Modali:

Hi, I've been looking for LTRs in the Carolinas and I haven't found a decent deal in the last 3 months. I live in California and with the current interest rates, I am a bit lost and I need help looking for new markets to invest in (total $100k cash available to invest).

I am looking for markets with;
YOY population growth (>1.5%)
Low unemployment rate
Stable local government
Job growth
Job Diversity
Cash flow with current interest rates

My overall strategy is to buy and hold. I am looking for properties with low to no rehab. B- and above neighborhoods. Any help would be greatly appreciated! If anyone could share the numbers on a recent purchase, that'd help me understand what to expect from a market.

Looking forward to all the responses.

Hey Apoorva, I'd also suggest looking into some of the Ohio markets. Columbus specifically has many big-tech companies either moving into the market or expanding their business here, which is contributing to rapid economic development. Intel is investing $20 billion to build chip manufacturing plants in Licking County, which is projected to create 30,000 new jobs. This is the largest private investment in state history. In addition to Intel, other big companies like Google, Amazon and Facebook are also expanding their business here in Columbus. Columbus is also home to The Ohio State University, one of the largest public universities in the country, as well as L Brands, a big player in the retail industry. Happy to connect if you're interested in learning more about the market!

3 Votes

All Forum Posts by: Peter Dorinsky

Peter Dorinsky has started 0 posts and replied 140 times.

Post: Does fix& flip still make sense???

Post: So many options, what would you do in this situation?

Post: Hello i'm a aspiring full time investor. I have 70k to invest. Where should i start?

Post: Best city in the US to buy quadplex for under $500k?

Post: Best city in the US to buy quadplex for under $500k?

Post: New to real estate investing

Post: Ready to purchase first investment property. Trying to choose city.

Post: New guy here

Post: First long distance rental property

Post: Market for Out Of State Investing