New to Out of State Investing

[Annwar Matani]

Hi everyone. I am a new out of state investor so I feel like my head is all over the place. I have read the BRRR book by David Greene and follow the forums, and listen to the podcasts. I feel like I have an idea but I think I am stuck in analysis paralysis at this point LOL. Also extremely nervous.

I am looking at different markets but I am interested in the Cleveland Market for various reasons, but most of all the low barrier of entry. I am from NJ so our market is more expensive. I have a primary residence in NJ that has equity, I have liquid cash around $50k, and my credit score is 740. I am debating on whether to just apply for a loan or use my equity/ cash to buy my first property? The strategy I would like to BRRR because I do want to scale in the long run. I am looking for cash flow.

 I am also trying to establish my team, I have a good realtor who is sending me properties, I was connected to a lender but I am open to suggestions/ recommendations for lenders, property managers, project manager (is this common?)  and (the one that makes me the most nervous) a RELIABLE GC. 

Where should I start? Thank you in advance. 

[Min Zhang]

hey Annwar, if you're looking on Cleveland market, I suggest look for turnkey properties. I personally love the Cleveland market for its cash flow. I do have clients buy in those area, generally anywhere from 8-12% COC return. As far as Columbus goes, it's more of an appreciation play. You should check it if you're looking to BRRRR.

I can send you a list of contacts in Ohio to help you build your team, property manager. Let me know how I can help!