All Forum Posts by: Rebecca Cho

Hey everyone,

I'm doing a scouting trip to Columbus, Ohio this weekend (driving in from NJ so it's a long drive). I’d love any tips or feedback on my plans below to help make the most of the scouting trip. 

Also, it's my first time ever in Columbus & I’m a total newbie real estate investor, so any local insights would be super helpful.

Planning to:

- Tour a few listings with realtor + check out open houses

- Drive around different neighborhoods to get a feel for them (we’re staying in Dublin, but not focused there)

- Visit SFH rental communities and new home developments (Ryan Homes, Pulte, Khov, etc.)

- Narrow down which areas & property types best align with our investment goals (likely SFH or small multifamily)

Also hoping to connect with anyone while in town (May 3–5, Saturday to Monday). If you’re a local investor, lender, contractor, property manager, etc and open to a quick 15-min coffee, I’d love to connect.

Please feel free to reach out if you have any feedback, neighborhood recs, or want to connect, I’d really appreciate it!

Thanks in advance,
Rebecca

Quote from @Tim Delaney:

Thanks for the mention @Scott Trench.

Welcome @Rebecca Cho! As Scott mentioned, I am bullish on Buffalo for many reasons. I've heard good things about Rochester as well. I am not an agent or property manager, but if you need any help or advice please don't hesitate to reach out. I love talking business, real estate and the business of real estate. I do have a great agent recommendation if you need one.

Hi Tim, thanks so much for the warm welcome! I’d love to connect and am very interested in hearing about your agent recommendation. I'll be reaching out shortly!

p.s - I was trying to find the episode of the BiggerPockets podcast where you were a guest but couldn’t find it. Would you mind pointing me in the right direction? Thanks.

Quote from @Timothy Smith:

@Rebecca Cho welcome and congrats on making the intention to jump in! Buffalo is a great place to invest, but understanding that neighborhoods change extremely quickly is paramount to your success. Most people really don't understand this fact (myself include prior to moving here) and it can trip you up if you don't have reliable "boots on the ground" or a thorough understanding of neighborhoods and blocks. Just the other week I was giving a tour to a potential Canadian investor, and they were shocked at how quickly a street goes from mid/high-end to....well, not as desirable. My point being, having a reliable team here is a must.

Dialing in on what class neighborhood and what kind of property you want is as key as your metrics, especially given that much of our housing stock is ~125 years old --- at least in the city. If you are looking for turn-key, your returns won't be as high, but that is mitigated by lower stress. If you are willing to do some value-add, pulling off a BRRRR is still very possible, but be patient for the right deal.

I am a self-managing investor here in Buffalo, focusing on small multifamily with heavy value-add. Building a network of agents, contractors, vendors, and tradespeople is something I've spent a lot of time and energy doing, and it is immeasurably valuable in being able to do this. If you want to chat at any time, please drop me a note. I'm always up for a chat about local REI!

Regards,

Tim Smith

Hi Tim, thanks so much for the warm welcome and for sharing these insights! It’s really helpful to hear about the neighborhood dynamics in Buffalo. I completely agree that having a reliable local team is key. I’d love to connect & chat more about the Buffalo market!

Quote from @Matthew Irish-Jones:

Quote from @Scott Trench:

Welcome to BiggerPockets, Rebecca!

@Tim Delaney is an investor in the Buffalo market and shares many of your views on its long term potential!

Best of luck, and if I lived nearby I think I’d be bullish on, and potentially investing in the area as well! 

 All of us Buffalonians are bullish on the Buffalo market and the Bills, but we have fairly biased opinions LOL!

Haha, I love the enthusiasm! I’m excited to learn more about the area.

Quote from @Matthew Irish-Jones:

Quote from @Rebecca Cho:

Hi everyone, I’m Rebecca from northern NJ, and I’m just getting started in real estate investing. My husband and I are both excited (and honestly a little overwhelmed) about buying our first investment property. We’re hoping to start small and are looking at markets, such as Buffalo or Rochester, NY. We’re drawn to relatively affordable areas that may be more resilient to climate change in the long run (though we know nowhere is immune).

Buffalo has caught our attention because of the growing investments in the area, which we think could drive future economic growth. It's also more affordable than Bergen County NJ, where we live now, and is still within driving distance (though it’s a bit of a trek). The combination of its growing tech & healthcare sector, long-term resilience to climate change, and relative affordability makes it an interesting place to start our real estate journey.

I spent a big part of my career in hospitality real estate consulting at a Big 4 firm, but I left to explore new opportunities and decided it was finally time to take the leap into real estate investing. I’m here to learn as much as I can, meet like-minded people, and get advice on making a solid first deal. I’d love to connect with local investors and agents and, further down the line, with contractors when we’re ready to take the next steps.

Looking forward to connecting and learning from everyone here!

Best,

Rebecca

ps - @Scott Trench - thanks for encouraging newbies like me to introduce ourselves on this forum!

 Bigger Pockets is definitely the right spot to get started.  This site has been instrumental in getting me from 0 properties to where I am today. 

If you are an out of state investor the team you pick is more important than the market you pick.  You are also going to need to decide how to manage the property.  If you are going to self manage you will need to build business systems and get a list of reliable vendors.  If you are going to outsource management you will get everything done for you, but you will have some of your cash flow used for services. 

I normally have one piece of advice for people just getting started, do not take on too much risk.  Risk comes in many forms and is hard to quantify.  Here are some examples:  1. Large construction projects.  2. High risk areas.  3. Buying properties through non traditional channels.  4. Working with inexperienced teams. 

Hi Matthew, thanks for the reply! It’s great to hear how BiggerPockets has helped you grow your RE portfolio. I completely agree with you about building a strong team - being an out-of-state investor makes that even more important. We’re still weighing whether to manage ourselves or hire a property manager, but I’m definitely leaning towards having a reliable team in place either way.

Your advice about not taking on too much risk is a good reminder. It’s really tempting to jump in headfirst, but I'm definitely remaining cautious, especially when it comes to large projects and working with new teams. 

If you don’t mind, I’d love to reach out to you to learn more about the Buffalo market. Thanks for taking the time to offer your insights - it's really helpful as we start this journey!

Quote from @Nicholas L.:

@Rebecca Cho

hello and welcome.  kudos for your specific and thoughtful post.  i think you can be successful if you are willing to do what you alluded to, which is spend time in person in your chosen market.  if that's buffalo, great.  maybe you and your husband can trade off making trips there to build a network in person? 

i also wouldn't rule out markets that are closer to you, even if they have a slightly higher price point.  for example, you have the lehigh valley in PA just a couple hours away from you.

i'll also say this.  BP creates the impression that if you're not buying, you're automatically in 'analysis paralysis.'  i strongly disagree with this.  when you're starting out, do you need, and are you likely to get, a life changing, home run deal on your first buy?  no, of course not.  but, should you buy a money pit and lose thousands or tens of thousands of dollars?  also... no.

i hope this helps. i'm happy to answer any questions you have. i have an LTR portfolio in 3 states including CT and PA. i'm looking for my next BRRRR and keep getting outbid. but i'm not bending my criteria just to "do a deal."

Hi Nicholas, thanks so much for the thoughtful message. I really appreciate the encouragement and advice. I totally agree with you about spending time in person to build a network - my husband and I are definitely open to making trips to Buffalo or other markets we're interested in to get a better feel. I’ll also keep other markets closer to me in mind -there are some interesting options nearby. We’d actually love to invest in Bergen County NJ, but the numbers just don’t seem to check out at the moment.

Also, thanks for the reminder not to rush into something just to do a deal. We’re really focused on making a smart first deal, even if it takes a bit more time to find it. I’ll definitely reach out if I have any questions as we move forward. Thanks again for the candid insight and support!

Quote from @Preston Garcia:

Hey Rebecca, I’m an agent over here in Rochester. A lot of out of town investors like to buy property over here due to the cash flow that they can receive. If you’re interested in more details, feel free to reach out!

Hi Preston, thanks for reaching out! The cash flow potential in Rochester definitely sounds interesting... I’ll definitely reach out to you soon to get some more details. Appreciate the offer!

Quote from @Michelle Schrader:

Welcome Rebecca! I’m an investor in the Rochester market and also have experience managing from afar with some vacation rentals out of the area. I’ve had my real estate license a little over a year and have helped a handful of out of state investors like yourself get their hands on some Rochester real estate. It’s been pretty competitive here (partly bc we’ve gotten some BP nods over the last year) but I’ve definitely noticed a drop in offers and competition. I think it’s just a seasonal/holiday slump but it’s a good time to be a buyer!

Hi Michelle, thanks for the warm welcome & sharing your experience! It's great to hear from someone active in the Rochester market. Managing vacation rentals remotely sounds like a unique challenge.. I appreciate the tip about the current market conditions. It sounds like a potentially good time for a first-time buyer like me to jump in. If you’re open to it, I’d love to reach out later for more info on the Rochester market.

Quote from @Scott Trench:

Welcome to BiggerPockets, Rebecca!

@Tim Delaney is an investor in the Buffalo market and shares many of your views on its long term potential!

Best of luck, and if I lived nearby I think I’d be bullish on, and potentially investing in the area as well! 

Scott, thanks so much for the warm welcome! I appreciate the suggestion to check out Tim Delaney’s posts - I'll definitely do that.

FYI - I’m also a regular listener and fan of your BiggerPockets Money podcast, so it’s great to connect with the community here. Thanks again for the encouragement!

Hi everyone, I’m Rebecca from northern NJ, and I’m just getting started in real estate investing. My husband and I are both excited (and honestly a little overwhelmed) about buying our first investment property. We’re hoping to start small and are looking at markets, such as Buffalo or Rochester, NY. We’re drawn to relatively affordable areas that may be more resilient to climate change in the long run (though we know nowhere is immune).

Buffalo has caught our attention because of the growing investments in the area, which we think could drive future economic growth. It's also more affordable than Bergen County NJ, where we live now, and is still within driving distance (though it’s a bit of a trek). The combination of its growing tech & healthcare sector, long-term resilience to climate change, and relative affordability makes it an interesting place to start our real estate journey.

I spent a big part of my career in hospitality real estate consulting at a Big 4 firm, but I left to explore new opportunities and decided it was finally time to take the leap into real estate investing. I’m here to learn as much as I can, meet like-minded people, and get advice on making a solid first deal. I’d love to connect with local investors and agents and, further down the line, with contractors when we’re ready to take the next steps.

Looking forward to connecting and learning from everyone here!

Best,

Rebecca

ps - @Scott Trench - thanks for encouraging newbies like me to introduce ourselves on this forum!