All Forum Posts by: Jimmy Lieu

In this detailed real estate investing case study, I break down exactly how my client executed a successful BRRRR strategy in Columbus, Ohio with minimal cash left in the deal. This is a complete walkthrough of a real investment property purchase showing you the exact numbers, ARV comps, and rental analysis.

📊 Deal Breakdown:

Purchase Price: $140,300

Renovation Cost: $2,000 (minimal cosmetic work)

Market Rent: $1,400/month

ARV (After Repair Value): $180,000-$185,000

Cash Left in Deal: Only $3,250!

🔍 What You'll Learn:

✅ Complete BRRRR strategy explained step-by-step

✅ Real market rent analysis and comparable properties

✅ ARV calculation using actual sold comps

✅ Cash-out refinance process at 75% LTV

✅ How to achieve 33x return on investment

✅ Why partial BRRRR deals can still be incredibly profitable

🎯 Perfect for:

✅ Real estate investors looking to scale their portfolio

✅ BRRRR strategy beginners

✅ Out-of-state investors interested in Columbus, Ohio

✅ Anyone wanting to see real deal numbers (nothing hidden!)

📈 Long-term Projections:

This property is projected to cash flow $800/month in 10 years while building over $100,000 in equity through appreciation and principal paydown. The BRRRR method allows you to recycle your capital and scale your real estate portfolio aggressively.

🏘️ Columbus, Ohio Real Estate Market:

Columbus is one of the fastest-growing cities in the US, making it an ideal market for buy-and-hold rental properties. Three-bedroom, one-bathroom properties are common and rent well in this market.

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Related Tags -

- BRRRR

- Buy and hold

- Flip

- Short Term Rental

- Mid Term Rental

- STR / MTR

- Out of state investing

- OOS investing

• Real Estate Education
• Real Estate Consulting
• Property Analysis
• Buyer Agent & Brokerage Representation
• Seller Agent & Brokerage Representation

- FSBO Property Sales & Marketing

• Property Management
• General Contracting
• New Construction
• Investor Financing
• Lender Financing
• Seller Financing
• Title Work
• Property Insurance
• Section 8 Consulting

Hit me up to talk or network about investing in the following markets!

• Cleveland, Ohio
• Columbus, Ohio
• Akron, Ohio
• Canton, Ohio
• Cincinnati, Ohio
• Dayton, Ohio

Hey Vanessa, welcome to BP! With that criteria and your budget, I’d definitely recommend taking a serious look at Columbus, Ohio. I’m actually based here and have been investing locally — and it checks a lot of the boxes you’re looking for. Columbus has been one of the fastest-growing cities in the Midwest with strong population growth, a booming job market (think Intel’s $26B development, plus Google, Amazon, Facebook, Honda, Microsoft), and solid public schools in many suburbs like Hilliard, Dublin, and Westerville. The market is still affordable relative to the coasts — you can find great SFHs and small multis between $300K–$500K, and you can often hit the 1% rule or close to it, especially on duplexes or small multis. Plus, Ohio is super landlord-friendly compared to California.

I know you’re prioritizing cash flow, and Columbus has been delivering on that while still appreciating — some of my clients are cash flowing on $120K–$180K properties even after management fees. Demand for rentals is high here, especially with all the job growth and OSU keeping a large student and young professional base around. If you want zip codes to start digging into, check out 43229, 43231, or 43235 for affordability and rental demand. Definitely let me know if you have any other questions about Columbus or investing here — happy to connect and answer any questions you have!

Hey Patrick, welcome to BP! That’s awesome you’re focusing on small multifamily here — I actually live in Columbus, invest here, and I’m also an investor-friendly real estate agent in the market. Columbus is a super solid play right now with all the job growth, population growth, and big companies like Intel, Google, and Amazon moving in or expanding. The multifamily space is still pretty active, especially for value-add deals, but it’s definitely a block-by-block city so having a solid team on the ground is key.

If you’re looking at 3-8 units, I’d suggest exploring areas like North and South Linden, Hilltop, and Franklinton if you’re after value-add and appreciation potential. Those neighborhoods still have some affordable price points with room for growth. German Village and the Short North are great but the entry prices are a lot higher. Happy to chat more if you want insight on the market or help building your team here — feel free to reach out!

Hey Natasha! That’s awesome you’re looking to get into flipping — and totally doable even from out of the country, especially if you can travel in periodically and build a reliable local team. Ohio can definitely be a solid choice for that low entry point you’re looking for. I’m based in Columbus and also invest here, and we still see deals in the $100K–$180K range with good upside potential. The key is picking the right neighborhoods — areas where retail buyers want to live but there’s still older inventory to add value to. Columbus has been growing like crazy with companies like Intel, Google, and Amazon moving in, so demand has stayed strong and there’s still room for appreciation.

That said, flips here are a volume game — margins are smaller than in some higher-priced markets, so it really comes down to your goals. If you're trying to build experience and manage risk while keeping cash needed upfront lower, Ohio markets (especially Columbus, Cincinnati, or parts of Cleveland) are great starting points. On the flip side, higher-cost markets might offer bigger profit per deal, but you're also looking at bigger holding costs and more exposure to market swings, and you’d likely need financing to get in. So it's a balance of risk, entry cost, and your ability to manage remotely.

If you’re leaning toward Ohio, I’d suggest focusing on areas where there’s strong owner-occupant demand and comps are easy to evaluate. And definitely connect with a solid local agent and contractor you can trust — that’s everything when you’re flipping from a distance. Happy to connect and answer any questions you have!

Hey Clemens — welcome to BiggerPockets! Sounds like you’ve had an awesome global journey, and it’s cool that you’ve already lived in both Ohio and California. Given your familiarity with Ohio, you might already know it’s one of the best places in the U.S. right now for cash-flow-focused investing. I actually live and invest here in Columbus and it’s been a great market for both long-term and Section 8 rentals — still affordable price points, landlord-friendly laws, and huge economic growth with companies like Intel, Amazon, Google, and Honda expanding here. You can still find deals that hit the 1% rule in the $120K–$180K range, and some of my out-of-state investor clients are getting great cash flow and appreciation potential. It’s also a market where turnkey and value-add strategies can both work, depending on what level of involvement you want. Definitely recommend building a solid local team (agent, PM, contractor, lender, etc.) and doing your due diligence on neighborhoods — it can make all the difference when you’re investing remotely. Excited for your journey — happy to connect and answer any questions you have!

Hey Chaim — totally get where you're coming from! That analysis paralysis is real, especially when you're looking out of state and trying to make sure you don’t end up in a low-demand or high-turnover area. What you’re describing — focusing on population density, demand for rentals, and cash flow — is a solid strategy. But rather than relying solely on an agent’s word (even good ones can have blind spots), I’d recommend building your own baseline understanding of a market first so you can ask the right questions and gut-check what you're being told.

Here’s how I started when I moved from Portland to invest in Columbus, Ohio — now I own 10+ rentals here. First, I looked for markets with strong job growth, population growth, and where you can still find properties that hit the 1% rule (aka $150K property renting for $1,500/mo). Columbus checked all those boxes — big employers like Intel, Google, Amazon, and tons of university and healthcare jobs. It’s also landlord-friendly and still affordable compared to most major metros. Once I narrowed in on Columbus, I studied crime maps, school ratings, rent-to-income ratios, and local zoning maps to get familiar with neighborhoods — that helped me know if a “deal” was really in a good spot or not.

As far as steps go: pick 1–2 metro areas and go deep. Look at rental listings, property prices, crime stats, and demographic trends. Once you feel confident in a market, then start interviewing agents and PMs — and the good ones will know exactly which zip codes to target (and avoid). You’re doing the right thing asking these questions now — investing out of state can absolutely work if you take the time upfront to really understand the market. Happy to connect and answer any questions you have!

Hey Lauren — welcome to BP and sounds like you’re already on a great path with a mix of rentals in both Nevada and Ohio! So, regarding the 1031 exchange: unfortunately, your primary residence doesn’t qualify. 1031 exchanges are only allowed for investment or business-use properties, not the house you live in. That said, there’s something called the Section 121 exclusion, which might still help you out tax-wise — if you’ve lived in your primary residence for at least 2 of the past 5 years, you can exclude up to $250K in capital gains (or $500K if married) from taxes. It’s not a 1031, but it’s still a great benefit.

Now, if you were doing a 1031 with your rental property in Nevada instead, then yes — you absolutely can exchange one property for multiple like-kind investment properties. You’d just need to follow the strict 45-day identification and 180-day closing windows and make sure the total value of the replacement properties is equal to or greater than what you sold. Since you already have rentals in Ohio, sounds like you're already familiar with that market — and honestly, it’s a great place to scale with how affordable it still is in cities like Columbus (I live and invest here — 10+ doors and counting). If you decide to go the 1031 route with your rental, happy to help walk you through how it could look in the Columbus market. Let me know how I can help!

Hi Phyllis! Love your vision and the meaning behind your company name—that’s such a powerful “why.” You’re already on the right track by educating yourself and laying out clear goals, especially while balancing a full-time job and working on your license. That’s no small feat!

For your first multifamily, I'd say: don’t wait for the perfect deal—focus on one that’s solid and gets you in the game. Run the numbers carefully, even if the return seems modest. That first deal will teach you so much. Also, build your team early—especially your lender, agent, and property manager. They can make or break your success.

Since you're planning to use the BRRRR strategy and eventually invest out of state, start networking now in those target markets. You can even "practice" analyzing deals in different areas so when the time comes, you're ready to move with confidence.

You’ve got the drive and the vision—keep going, and don't be afraid to ask questions along the way. You're building something that matters, and that’s worth every bit of effort. Let me know if you'd like help analyzing a deal or choosing a market—I’m happy to help however I can!

Hey Mark, welcome to BP and congrats on taking the first step — sounds like you’re headed in the right direction with a solid plan! I started my journey a few years ago in Columbus, Ohio and now own 10+ rentals here, including small multifamily, so I can definitely relate to where you’re at. When I was just getting started, I focused on cash flow first — really getting clear on numbers like cap rate and cash-on-cash return (you’re already on the right track there). I’d recommend looking for properties in landlord-friendly, affordable markets with growing job and population trends — places like Columbus still have duplexes and 4-plexes in the $140K–$250K range that can hit the 1% rule and cash flow right out the gate.

Turnkey vs fix-up depends on your bandwidth — if you’re new and not ready to manage a rehab remotely, a more turnkey or light value-add deal might make the most sense to start. Once you build your team (agent, PM, contractor), you can go after more value-add stuff. Looking back, I wish I had gotten into multifamily sooner instead of sticking with single families for so long — the scalability makes a big difference. And the key to making out-of-state work is having a great local property manager and agent who know the neighborhoods and rent comps well. Columbus has been a great market for this strategy — landlord-friendly, solid rents, and big growth thanks to Intel, Amazon, and others expanding here. Happy to connect and answer any questions you have!

Hey Ravi — welcome to BiggerPockets and congrats on inheriting property in Columbus! That’s an awesome head start and even better that you already know the area — that local insight will be super helpful. I live and invest in Columbus and have built up a portfolio of 10+ rentals here over the past few years. This city’s been on fire with job growth, tons of development (Intel, Amazon, Google, etc.), and still has strong rent demand with price points that allow for solid cash flow and appreciation.

If some of your properties need work, there’s definitely opportunity to add value through light rehabs or strategic upgrades, especially if they’re in B or C+ neighborhoods. As for management, there are a few solid property management companies here that specialize in single-family and small multi-families — and a lot depends on how hands-on you want to be, what software you use, and how many doors you’re managing. Some owners like to self-manage using tools like Hemlane or Innago if they want tighter control, especially if they’re familiar with Columbus like you are.

If you’re thinking of expanding or doing a 1031 exchange, Columbus still has opportunities to find properties that hit the 1% rule and are located in growth areas. Happy to connect and share more details if you’re looking for recommendations or a second set of eyes on neighborhoods or potential value-add strategies. Let me know how I can help!