Best Cities in the US to BRRRR?

Question

Hello, what are the best places to buy for the BRRRR? I've been looking a lot but it seems that all of the locations that cash flow well have pretty high crime ratings and aren't very good neighborhoods. I'm looking for a more middle class type investment property. Looking to spend 80k cash or less including rehab then BRRRR. Thanks for taking the time to help me understand.

Travis Timmons · Answer

The one where you have an unfair advantage.

Peter Dorinsky · Answer

A lot of investors from California have taken interest in the Ohio markets. I especially like the Columbus and Cleveland areas. Columbus is a good hybrid market for appreciation and cash flow, while Cleveland offers a lot of cash-flowing properties at lower price-points. I have a neighborhood grading scale for those areas that I like to use when analyzing properties, if you have any interest in those areas I'd be happy to connect and talk more. Best of luck!

James Wise · Answer

Saw Cleveland was mentioned, per usual. Anytime you're here on BP looking for a low cost market Cleveland is usually one of the most popular markets of discussion.

I've made millions with low income housing in Cleveland. Out of state investors come here and make money in low income housing every day............

HOWEVER

Just as many out of state investors lose their shirt investing in low income stuff here in Cleveland. As such, I highly recommend reading The Ultimate Guide to Grading Cleveland Neighborhoods before you decide to make a move into Cleveland. Reading the guide will help you to become the former instead of the latter.

Jimmy Lieu · Answer

Hi Scott, Columbus Ohio is a great place to do BRRRR. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. Just this month, I’ve gotten under contract for my clients for multiple 20%+ cash on cash rental properties so there’s definitely tons of opportunity here. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Mackaylee Beach · Answer

Have you considered Kansas City?

I'd be happy to connect if you would like to learn more about our market.

John Mason · Answer

Start building network by using Facebook Groups and going to meetups

Brian M. · Answer

@Andrew Postell

But what if you’re a beginner and don’t know anyone anywhere?

Patrick Drury · Answer

@Scott MurilloI would recommend looking at the Cleveland market. There is solid cash flow and you might be able to pick up a Single-family BRRRR in that price range.

Remington Lyman · Answer

I do a lot of BRRRRs in Ohio

Andrew Postell · Answer

@Scott Murillo I have been an out of state investor for over 15 years now and this question comes up a lot. The answer is consistently the same - what city do you have trusted people in? Meaning, when you invest out of state you place an ENORMOUS amount of trust into people with your asset. You may never even SEE your asset. You need trustworthy people in order to execute. So if "City X" shows 2% more profitability than "City Y" but you know people in "City Y"....then your answer is "City Y". Just one wrong move from an unscrupulous person can erase any small advantage that another city or location might hold. Think about where you might know people and let's start there.

Hope all of that makes sense.

Best Cities in the US to BRRRR?

Best Cities in the US to BRRRR?

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