Buying my first investment/rental in 2025!

Madison, Wisconsin
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Buying my first investment/rental in 2025!

Dave Bobka
Member since 2025 · 5 posts · 3 votes

Excited to be joining this community! After years of research and deliberation, my wife and I determined to start our real estate portfolio in 2025. We are starting the process of analyzing deals, making a plan and executing on it.

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Justin ArnoldPro Member
Investor · Fort Wayne, IN · Member since 2016 · 14 posts · 9 votes
1y
Quote from @Jaycee Greene:
Quote from @Dave Bobka:

That's right, been eyeing all of those as well was Fort Wayne, IN


What about something like this in FTW: https://www.realtor.com/realestateandhomes-detail/3207-Clint...? It says it has 6 bedrooms, wow!


 That is on one of the largest arterial streets in the city, massive traffic count. Not the best area either. 

My wife is a Top25 Realtor in Ft Wayne, I'm a licensed contractor and home inspector. Been investing here for 9 years. Feel free to reach out if you have any questions about the local market here or want to connect! 

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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    1y

    Hey @Dave Bobka, welcome to the BP Forum! What type of properties are you looking to acquire to build your portfolio, SF, 2-4 MF, or 5+ MF? And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

    [email protected]
    0Reply
  • Dave Bobka
    OP
    Member since 2025 · 5 posts · 3 votes
    1y

    Hey Jacycee! For this first property, looking for something in the $100k-200k range. Based on that range, I have been eyeing SF's in IN and OH. Turnkey or close to turnkey would be nice, but willing to consider a fixer upper for the right opportunity. 

    0Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    1y
    Quote from @Dave Bobka:

    Hey Jacycee! For this first property, looking for something in the $100k-200k range. Based on that range, I have been eyeing SF's in IN and OH. Turnkey or close to turnkey would be nice, but willing to consider a fixer upper for the right opportunity. 

     @Dave Bobka Great. I'm assume IN = Indy and OH = CLE, CIN, and CBUS, is that accurate? If you're looking for turnkey, you'll be leaning towards at least B neighborhoods, if not A, is that accurate?

    [email protected]
    0Reply
  • Dave Bobka
    OP
    Member since 2025 · 5 posts · 3 votes
    1y

    That's right, been eyeing all of those as well was Fort Wayne, IN

    0Reply
  • Sadler Surratt
    Specialist · Memphis, TN · Member since 2024 · 63 posts · 24 votes
    1y

    Hi @Dave Bobka 

    Welcome to BiggerPockets! It’s exciting to see you taking the first steps in your real estate journey. Have you and your wife considered exploring fully turnkey properties as an option? They’re a great way to generate passive income with minimal hands-on involvement.

    Looking forward to hearing more about your goals!

    Best regards,

    Sadler

    1Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    1y
    Quote from @Dave Bobka:

    That's right, been eyeing all of those as well was Fort Wayne, IN


    What about something like this in FTW: https://www.realtor.com/realestateandhomes-detail/3207-Clint...? It says it has 6 bedrooms, wow!

    [email protected]
    1Reply
  • Preston DeanBusiness Member
    Realtor · Fort Worth, TX · Member since 2021 · 779 posts · 368 votes
    1y

    Hi @Dave Bobka

    Lets go!! congrats my friend

    Here is one piece of advice I have for you:

    As you attempt to find what area to invest in, use this website 

    https://www.areavibes.com/

    Its a great resource and starting point for what an area might look like and it has something called a "livability score". The highest score I have seen in our area is 85 so I would consider that an A+ area. 

    Best of luck to ya!

    [email protected]817-480-9452
    United Real Estate DFW Properties 565 Reviews
    WebsiteView Page
    0Reply
  • Dave Bobka
    OP
    Member since 2025 · 5 posts · 3 votes
    1y

    Thanks, @Preston Dean! Appreciate the advice, I will take that in as I narrow down my first deal. 

    1Reply
  • Dominique “Dom“ Leal
    Real Estate Agent · Austin + San Antonio, TX · Member since 2024 · 23 posts · 5 votes
    1y

    Hi Dave! It's fantastic you decided to jump in.. have you mapped out your first property analysis yet?

    0Reply
  • Bryan F.
    Member since 2020 · 38 posts · 22 votes
    1y
    Quote from @Dave Bobka:

    Hey Jacycee! For this first property, looking for something in the $100k-200k range. Based on that range, I have been eyeing SF's in IN and OH. Turnkey or close to turnkey would be nice, but willing to consider a fixer upper for the right opportunity. 


    Do you live in Wisconsin? If so, I'd recommend investing in your own backyard as opposed to going out of state. Spend a little more money than you might have been planning to, buy in a better area (i.e. not a "turn key" 100k house off the mls), and self manage. You'll learn the ropes on how to be a landlord with a lower risk/higher quality tenant-base. Once you've made all of the rookie mistakes and have your SOPs in order, you can go invest out of state with a game plan. If you buy the 100k house in Cleveland off the MLS as an OOS inventor and turn it over to a local PM as your first investment, you might be out of real estate investing in 2 years or less.

    1Reply
  • Dave Bobka
    OP
    Member since 2025 · 5 posts · 3 votes
    1y

    Thanks for the advice, Bryan! We certainly haven't ruled out investing in Wisconsin, but we have friends and family that live in both CLE and CBUS, so we travel to those markets fairly often. However, you make a great point about starting local and dodging PM costs to start... I appreciate it!

    1Reply
  • Justin ArnoldPro Member
    Investor · Fort Wayne, IN · Member since 2016 · 14 posts · 9 votes
    1y
    Quote from @Jaycee Greene:
    Quote from @Dave Bobka:

    That's right, been eyeing all of those as well was Fort Wayne, IN


    What about something like this in FTW: https://www.realtor.com/realestateandhomes-detail/3207-Clint...? It says it has 6 bedrooms, wow!


     That is on one of the largest arterial streets in the city, massive traffic count. Not the best area either. 

    My wife is a Top25 Realtor in Ft Wayne, I'm a licensed contractor and home inspector. Been investing here for 9 years. Feel free to reach out if you have any questions about the local market here or want to connect! 

    2Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 727 votes
    1y
    Quote from @Justin Arnold:
    Quote from @Jaycee Greene:
    Quote from @Dave Bobka:

    That's right, been eyeing all of those as well was Fort Wayne, IN


    What about something like this in FTW: https://www.realtor.com/realestateandhomes-detail/3207-Clint...? It says it has 6 bedrooms, wow!


     That is on one of the largest arterial streets in the city, massive traffic count. Not the best area either. 

    My wife is a Top25 Realtor in Ft Wayne, I'm a licensed contractor and home inspector. Been investing here for 9 years. Feel free to reach out if you have any questions about the local market here or want to connect! 

    @Dave Bobka @Justin Arnold So, if an investor is looking for a larger, family style home for a Section 8 tenant that is dependent upon public transit, this would be a great property, wouldn't it? The FMR for a 6 BR house is over $1,800....one person's trash is another person's treasure!

    [email protected]
    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    1y
    Quote from @Dave Bobka:

    Excited to be joining this community! After years of research and deliberation, my wife and I determined to start our real estate portfolio in 2025. We are starting the process of analyzing deals, making a plan and executing on it.


     Holla

    0Reply
  • Paul Novak
    Rental Property Investor · WI · Member since 2023 · 192 posts · 144 votes
    1y

    Congratulations on getting started!  We started back in 2021 and haven't looked back.  It's been the best decision we have made.  We invest in Sheboygan County.  Where are you looking to invest?  What types of properties are you looking for?

    0Reply
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