BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated almost 2 years ago,
First Property Investment
Hey
im confused a bit guys, i dont know where to start investing and how to focus on one place and not few.
I want to do BRRRR & I have around 120K, where is the best place to invest do you think to start in general in all states ?
im focusing in few places the same time, and its hard to focus. for now im in Cleveland since prices there still not high
Sometimes im in Texas, sometime im in Cleveland & Columbus..and other times in Carolina's. Now lets say I focus on Cleveland, the appreciation rate no the best for long term over there. So then im thinking on Columbus, since is much better.. but the price higher there, so I dont know really where to focus, it seems Columbus better then Cleveland and that is what stopping me to focus on Cleveland .
There is prices on Cleveland on 50-90K but the neighborhood really bad, bad schools and C grade, i dont want to have rental problems.
Im looking most of times on the "more valuable cities" (like Columbus, Greensboro and Carolina areas.. and more) when property goes there for 170-220K and its not that much different from 100-120K in Clevelend (if i go with A or B grade) . Im any way put 20% down. and for long term i will get more appreciation for the other cities.
Im planning to put 20% down payment and then pay cash for remodel. what is the best thing to do here do you think? I need professional opinions.