What should I do with $100K cash?

[Account Closed]

I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?

Please reach out if you have any real estate groups I can join!

[Sarita Scherpereel]

When you're first starting out a house hack is a great way to get started. There are low downpayment programs and a lot of first time buyer grants. Some don't need two years of income if you're right out of college which can be a big help. 

[Don Spafford]

Being in college, you will want as little distraction as possible. You should either do a househack as someone else suggested, or consider a passive investment into a syndication opportunity for non-accredited investors, or through a reg CF offering. That way you won't have to concern yourself with repairs or evictions and things like that so you can focus on your classes. However, if you really want to buy something, if you consider East Idaho, I'd be happy to help you find something and help get the management you need to make it as hands off for you as possible.

[Logan Winn]

Hey Danny, I'm a realtor based in Pleasanton, CA. It's great to hear about your interest in real estate investing. Given your current savings and monthly savings rate, you're in a strong position to start your journey.

BRRRR Strategy

The BRRRR method is a powerful way to build your real estate portfolio by leveraging your initial investment to acquire more properties over time.

Cleveland vs. Columbus

Both cities are promising markets for real estate investment but have different strengths.

Cleveland:
- Affordability: Lower home prices, making it easier to enter the market.

- Strong Rental Market: High demand for rentals.

- Economic Stability: Supported by a stable healthcare sector.

- Cash Flow Potential: Often meets the 1% rule, indicating strong cash flow.

Columbus:
- Growth and Demand: Booming population and tech industry.

- Appreciation Potential: Consistent market appreciation.

- Rental Market: Low vacancy rate, suggesting high rental demand.

- Median Prices: Affordable compared to larger metros.

Long-Distance Real Estate Investing

Investing in properties in the Midwest while living in Los Angeles is feasible with modern technology. Key tips include:

1. Thorough Research: Understand local market conditions.

2. Build a Local Team: Reliable contractors and property managers are essential.

3. Use Technology: Leverage property management software and virtual tools.

4. Tenant Screening: Ensure you find reliable tenants.

becoming an Investment-Friendly Real Estate Agent

As you gain experience, and consider becoming a real estate agent focused on investments. Key steps include:

1. Learn the Language: Understand key investment terms.

2. Understand Investor Goals: Know what investors are looking for.

3. Network: Build relationships with investors and industry professionals.

4. Market Expertise: Stay informed about local trends and developments.

5. Offer Value-Added Services: Provide referrals to reliable service providers.

It might be challenging but not impossible to become a real estate agent in Ohio while you're in college in Los Angeles—it will require some travel.

Feel free to reach out if you have more questions or need further guidance. Best of luck with your real estate journey!

All the best!

[Alfath Ahmed]

Quote from @Account Closed:

I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?

Please reach out if you have any real estate groups I can join!

Ohio has several different markets. If you want cashflow Cleveland and Dayton is the place to BRRRR. If you want strong growth, appreciation, and cashflow then Columbus is the way to go.

I personally only BRRRR in Columbus since the larger growth is here with big companies launching here and areas growing very fast.

[Mya Toohey]

Hello!!!  I am an Investor Agent in Tampa Florida.  Most of my clients are OOS.  You need to build really strong relationships with a Real Estate Agent and contractors.  Your Realtor will be your go to person the entire time. They are your boots on the ground.   Look into your loan options as well.  

[John A.]

@Tommy Ray. Thanks for sharing your knowledge and I would like to connect since you have a lot under your belt. Will it be able to do so? Please let me know, thanks.

[Tommy Ray]

@John A, sounds good!  

[Ryan Cheek]

Quote from @Account Closed:

I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?

Please reach out if you have any real estate groups I can join!

 Morning from Indianapolis

I have heard lots of great things about the Ohio market. I am an investment friendly agent in Indianapolis as I have lived her most of my life. I think investing in the Midwest regardless is a great call as you can buy alot more properties out here v the coasts. Good luck!