All Forum Posts by: Ashley Stieger

Congratulations, Sierra! 

Hi @Anders Helgeson, nice to "meet" you! I am based in Denver and have long-distance/BRRRR properties (including one in Cincinnati). I think there are many benefits to investing in Cincinnati; including lower entry point than San Diego, higher cash-on-cash return, ability to BRRRR, etc. And if you build the right team, including an investor-friendly RE agent, contractor(s), strong property manager, inspector, and lender, it can be a great investment. These upsides also come with more risks, IMO, so make sure to look at all variables before jumping into an unfamiliar market.

However, if you are truly looking to become financially independent, consider what @Mark Frattini mentioned: HOUSE HACKING. This doesn't mean you have to chose to only invest in your current market, but rather gives you more ways to optimize your portfolio, take advantage of favorable lending terms due to buying a primary home, and put a much smaller % down than if buying an investment property. Also, I'm not sure what the average rent is in San Diego, but I'm guessing it's pretty high! Living in a house hack, you will likely reduce your living expenses quicker than buying multiple cash-flowing investment properties… I've seen this work first-hand with house hackers in Denver (which similarly is a high appreciation, lower cashflow market than the midwest). If interested in learning more about house hacking in your area, reach out to an investor-friendly Realtor in San Diego who has experience looking for these type of properties, as it's important to get a local's perspective. Best of luck on your REI journey!

@Greg Koszkul,

I agree with @Craig Curelop, creativity is helpful here in Denver. Additionally, consider looking at more than just the cash flow when calculating the ROI, such as appreciation, tax benefits, and debt pay down. Denver might become a more enticing market when looking at the whole picture.

Whether you decide to stay local or go out-of-state, make sure to create a team including: 1. investor-focused RE agent; 2. solid property manager; and 3. reliable contractors. In my experience, the numbers only work if the right team is in place. Building relationships with RE professionals and other investors in your chosen market is just as important as your comfort level with an area. Attend local meetups (many are online now) and connect on bp with other investors in your chosen market.

Good luck in your REI journey!

@Natalie Fryda, I sent you a DM with my contact info. I look forward to connecting! 

Hi Natalie,

I too live in Denver and am an out-of-state investor! It's easy to lose focus when looking at multiple markets, so my first tip is to pick one. Next, is two-fold: find an investor-focused Real Estate agent, specifically one who also owns investment properties AND interview property managers (PM). A great way to find recommended agents+PMs is to attend out-of-state REI meetups here in Denver and the market-of-choice REI Facebook groups.

For me, having an investor-focused RE agent made finding the right property for me possible. Then, the PM became the make-or-break for my properties success…or lack of…over time.

I'd love to chat more about out-of-state investing and/or why I am once again turning my search back to the Denver market (the math can work!). And as you might guess, it's more than just cash-flow. Good luck in your REI journey!

Hi Bryan!

I too am a long-distance investor and own a single family rental property in Cincinnati (like Andy, East Side). I am not sure how familiar you are with Cincinnati, but one word of advice for any city you choose is to develop a relationship with someone in RE who is very familiar and/or established within the city. Cincinnati is not only neighborhood specific, but sometimes street-by-street.

Another question for you, are you looking to invest in an already established neighborhood or up-and-coming? And if up-and-coming, what is your risk tolerance? Good luck in your search!