New to REI and excited to jump in!

Oakland, California
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New to REI and excited to jump in!

Jenna Lowe
Member since 2024 · 1 post · 6 votes

Hi, I live in Oakland and am interested in OOS REI. I have an ADU behind my house that I have been Airbnb'ing for the last year (Superhost) and have been educating myself about REI over the last few weeks. My initial strategy will probably be BRRRR in Iowa. I'm excited to start this journey and look forward to learning from this community!

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Patrick DruryBusiness Member
Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
2y

@Jenna Lowe
The BRRRR strategy is a great way to scale. Just make sure you have a solid team in place that you trust when doing it out of state.

[email protected]614-412-4565
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  • Samuel DioufBusiness Member
    Real Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y

    Hey Jenna, welcome to BP! 

    There are some great opportunities in the Ohio markets. Many investors from California, are choosing to invest in the midwest because of the yearly returns making more sense in these lower priced markets. Ohio markets show up 3 times in Zillow’s 2024 hottest markets, with Columbus and Cincinnati taking the top 2 and 3 spots. I moved from Florida to start investing in Columbus due to the same reason.

    [email protected]614-662-1652
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  • Julio GonzalezPro Member
    Specialist · West Palm Beach, FL · Member since 2008 · 4k+ posts · 1k+ votes
    2y

    We're thrilled to have you here, Jenna! Your background in Airbnb hosting paired with your enthusiasm for out-of-state real estate investing is truly impressive.

    Choosing the BRRRR strategy in Iowa is a smart move to begin your journey.

    Welcome aboard and best of luck investing! 
    -Julio



    561-253-6640
    2Reply
  • Bradley BuxtonBusiness Member
    Real Estate Agent · NV · Member since 2023 · 1k+ posts · 715 votes
    2y

    @Jenna Lowe

    There are many good markets outside of California. What your goals and strategy will be generally dictate the best market to invest in. For CA investors the proximity to Nevada, landlord friendly, low property taxes and easy to get to Reno from the Bay Area make it a good spot. Tesla is building a semi truck factory and multiple data centers are bringing high paying jobs and diversifying the economy.  

    2Reply
  • Alfath AhmedBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
    2y
    Quote from @Jenna Lowe:

    Hi, I live in Oakland and am interested in OOS REI. I have an ADU behind my house that I have been Airbnb'ing for the last year (Superhost) and have been educating myself about REI over the last few weeks. My initial strategy will probably be BRRRR in Iowa. I'm excited to start this journey and look forward to learning from this community!


     Awesome job on getting started. I would make sure to find a good Realtor that can help you get connected to your core-4. In this business, the right contacts and the right deals will make or break your business. 

    I invest heavily in the Columbus market and work with primarily OOS from California who invest in Columbus due to the tech growth. There is strong appreciation and cashflow here!

    [email protected]614-802-5698
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  • Maureen McCann
    Investor · San Diego, CA · Member since 2024 · 78 posts · 54 votes
    2y

    Hi Jenna...Welcome to the world of investment real estate. There is a lot to learn, but you already have experienced the beauty of REI with your ADU. Superhost too? That is impressive!

    There are many good investment markets outside of CA. Doing a BRRRR in Iowa is a great start. Best of luck to you!

    1Reply
  • Patrick DruryBusiness Member
    Real Estate Agent · Columbus, OH & Cleveland OH · Member since 2021 · 1k+ posts · 2k+ votes
    2y

    @Jenna Lowe
    The BRRRR strategy is a great way to scale. Just make sure you have a solid team in place that you trust when doing it out of state.

    [email protected]614-412-4565
    Reafco-556 Reviews
    View Page
    3Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Hey Jenna! Welcome aboard! I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

    Here is a summary of the book.

    https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greene

    The book also mentions the importance of having a rockstar Realtor, contractor, lender, and property manager.

    If you're also looking at Ohio, I invest locally in Columbus and Cleveland. 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!

    [email protected]614-412-2912
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  • Travis Biziorek
    Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
    2y

    Hey Jenna, sounds like you're off to a great start. 

    I'm down here on the Central Coast and we're finishing up our ADU here shortly. We're also going to operate it as a STR.

    Outside of that I own 12-doors in Detroit. I've been investing there since 2019 and have an awesome team on the ground built out to do BRRRR's. It's been extremely good to me.

    Happy to talk about that market and share some resources if you're interested.

    1Reply
  • Simon Ashbaugh
    Realtor · Columbus Ohio, Cleveland Ohio · Member since 2022 · 849 posts · 830 votes
    2y

    Hey Jenna, it sounds like you've taken some great first steps towards achieving your goal. BRRRR is a fantastic strategy for building wealth through real estate. Keep in mind that building a successful REI business takes time and a strong foundation. Best wishes to your continued growth in the real estate industry!

    2Reply
  • Ashley Noethe
    Real Estate Agent · Indianola, IA · Member since 2019 · 43 posts · 44 votes
    2y

    Hi Jenna! Welcome and congrats on making the decision to dive in, particularly in Iowa! I am located in Indianola, Iowa just 15 miles south of Des Moines and I am both a realtor and investor. We have a single family we BRRRed (ish .. we ended up selling on contract rather than renting) and a 5-plex here locally. We have done a few other investments too, including an airbnb cabin in Georgia we were superhosts too when we did that. Happy to answer questions you have about Iowa in particular or just in general. Feel free to reach out. Wishing you luck!

    1Reply
  • Nadeem Alamgir
    Real Estate Agent · Member since 2023 · 831 posts · 577 votes
    2y

    Hey @Jenna Lowe welcome to BP! If you're open to out-of-state investing and looking for a BRRRR opportunities, check out Cleveland, OH.

    You can find distress off-market opportunities under 100k in B to C areas. I recommend working with an investor-friendly agent to help you figure out the market first before analyzing any deals.

    2Reply
  • Dan H.Pro Member
    Investor · Poway, CA · Member since 2015 · 7k+ posts · 8k+ votes
    2y

    My opinion is a first BRRRR is difficult when done locally. Doing the first BRRRR out of state is full of risks.

    I have my biggest rehab per square foot and one of my biggest rehabs ever going on right now.  I am on site virtually everyday communicating with the contractors and coordinating their efforts (we act as GC).  It takes time and requires work.  I have rehabbed about 2 dozen units which I consider a fair amount of experience.   I would be leery doing an OOS rehab, even with my level of experience.  

    Good luck

    0Reply
  • Angel G.Pro Member
    Moderator
    Rental Property Investor · Colorado Springs, CO · Member since 2016 · 61 posts · 37 votes
    2y

    You've definitely come to the right place to learn more about executing that BRRRR in Iowa! Congrats on the superhost status and making the most of that ADU behind your home! I'm looking to pivot into that type of strategy here soon!

    1Reply
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