Starting out + choosing a strategy

[Danny Goss]

Hey guys! I joined after reading 5-6 of the BP authored books and I've loved growing my understanding of the world of real estate investing.

I made my first investment this summer and my family is partnering to make a few investments in the next year. We're currently deciding whether we'll want to go with a BRRRR vs. turnkey duplexes. Clearly there's a lot more ROI and work for a BRRRR.

After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. I'm looking to understand how the Columbus market may stack up for opportunity in BRRRR's. I'd love any insights for those who are familiar.

Thanks!

[Remington Lyman]

Quote from @Danny Goss:

Hey guys! I joined after reading 5-6 of the BP authored books and I've loved growing my understanding of the world of real estate investing.

I made my first investment this summer and my family is partnering to make a few investments in the next year. We're currently deciding whether we'll want to go with a BRRRR vs. turnkey duplexes. Clearly there's a lot more ROI and work for a BRRRR.

After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. I'm looking to understand how the Columbus market may stack up for opportunity in BRRRR's. I'd love any insights for those who are familiar.

Thanks!

It seems that you're located in Columbus, Ohio. Have you thought about doing a house hack? I believe this approach provides the best cash-on-cash return when starting out.

I began investing in Columbus in 2017, and I've engaged in both BRRRR strategies and turnkey investments. I recommend starting with more turnkey properties since they are generally easier to manage. This approach will help minimize the potential financial risks associated with renovations and working with contractors. Once you've gained enough experience, you can transition to more BRRRR projects.

[Savannah Holzer]

Hey Danny - That's awesome that you've made your first investment and are planning more with your family! You're right that the key to a successful BRRRR strategy is building a strong team and carefully analyzing deals, especially around rehab costs and ARV. As for Columbus, it's a growing market with potential for strong rental demand, but make sure to research specific neighborhoods, local market trends, and the level of competition to ensure you're making a smart investment.

[Remington Lyman]

Quote from @Danny Goss:

Hey guys! I joined after reading 5-6 of the BP authored books and I've loved growing my understanding of the world of real estate investing.

I made my first investment this summer and my family is partnering to make a few investments in the next year. We're currently deciding whether we'll want to go with a BRRRR vs. turnkey duplexes. Clearly there's a lot more ROI and work for a BRRRR.

After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. I'm looking to understand how the Columbus market may stack up for opportunity in BRRRR's. I'd love any insights for those who are familiar.

Thanks!

It seems that you're located in Columbus, Ohio. Have you thought about doing a house hack? I believe this approach provides the best cash-on-cash return when starting out.

I began investing in Columbus in 2017, and I've engaged in both BRRRR strategies and turnkey investments. I recommend starting with more turnkey properties since they are generally easier to manage. This approach will help minimize the potential financial risks associated with renovations and working with contractors. Once you've gained enough experience, you can transition to more BRRRR projects.

[Samuel Diouf]

Hey Danny, if you spend time building out the right team, BRRRRs will take your money a lot farther in the Columbus market. 

You likely won't be able to pull all of your money out with the market's current conditions, but with Columbus's appreciation, your return on cash invested will be huge! 

[Zeke Liston]

Quote from @Danny Goss:

Hey guys! I joined after reading 5-6 of the BP authored books and I've loved growing my understanding of the world of real estate investing.

I made my first investment this summer and my family is partnering to make a few investments in the next year. We're currently deciding whether we'll want to go with a BRRRR vs. turnkey duplexes. Clearly there's a lot more ROI and work for a BRRRR.

After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. I'm looking to understand how the Columbus market may stack up for opportunity in BRRRR's. I'd love any insights for those who are familiar.

Thanks!

 BRRRRs in Columbus are hard to come by, but they are still out there. I've done multiple BRRRRs myself and tend to find the best opportunities in C, C+, and B- neighborhoods where the inventory of distressed homes is still there. Personally, I've had success in Linden, Southern Orchards, South of Main, Driving Park, and Franklinton to name a few neighborhoods in Columbus. 

[Evan Hopple]

Hey @Danny Goss, welcome to BP! 

The right investment strategy depends on your risk tolerance and available time, especially when partnering with family. The BRRRR strategy is doable for a newer investor, but it requires a lot of effort, consistency, and hands-on involvement—it's not exactly a passive way to invest.

Whichever route you choose, if you're taking on the bulk of the work to analyze deals and select the best ones, it’s important to ensure your partnership reflects the time and energy you’re putting in. A clear operating agreement from the start is key to keeping on the same page. 

But yes, good value add deals are out there. Good luck!

[Jimmy Lieu]

Quote from @Danny Goss:

Hey guys! I joined after reading 5-6 of the BP authored books and I've loved growing my understanding of the world of real estate investing.

I made my first investment this summer and my family is partnering to make a few investments in the next year. We're currently deciding whether we'll want to go with a BRRRR vs. turnkey duplexes. Clearly there's a lot more ROI and work for a BRRRR.

After finishing David Greene's BRRRR book and combing the forums, my impression is it'll come down to building the right team and doing our due diligence on finding and analyzing deals, estimated ARV, rehab costs, and rent /demand for an area with the most conservative estimates. I'm looking to understand how the Columbus market may stack up for opportunity in BRRRR's. I'd love any insights for those who are familiar.

Thanks!

Hi Danny, welcome to the BiggerPockets community! First off, congrats on doing your homework before jumping in! About BRRRR in Columbus - I'll be straight with you. While it's definitely doable here, our market has gotten pretty competitive over the last few years. Finding those juicy BRRRR deals takes a lot more work than it did even 2-3 years ago. Most of the easy "lipstick on a pig" transformations are gone - you're often looking at more serious rehabs to make the numbers work.

That said, we do have some advantages: strong rental market (lots of students, young professionals), still relatively affordable deals, and good appreciation potential in many neighborhoods. For a first-time investor though, I'd seriously consider starting with a turnkey duplex. You can learn the local market without the stress of a major rehab while you start building relationships with property managers and tenants. It's way lower risk while you're getting your feet wet.

BRRRR definitely has better potential returns, but it also has way more moving parts that can go wrong. If you're dead set on BRRRR, focus on areas like Linden, Hilltop, and parts of the South Side - but make sure you really understand the micro-markets there. Happy to connect and answer any questions you may have.