All Forum Posts by: Jimmy Lieu

Hey first off, thank you for your service and props to you for thinking ahead and setting yourself up early. House hacking a triplex with your VA loan is a really smart way to get started since it lets you live for cheap or even free while building equity. Whether to keep investing locally or out of state really comes down to the numbers and how involved you want to be in management. A lot of people choose to keep the first few deals close to home to learn the ropes, but once markets like Massachusetts start pricing you out, it can make a lot of sense to look at more affordable cash-flow markets. For example, I moved from Portland, Oregon to Columbus, Ohio in 2020 to build my rental portfolio and now own 10+ rentals here. Columbus has been a strong out-of-state market for a lot of investors because it's landlord-friendly, still affordable (think $120–180K price points hitting the 1% rule), and has strong job and population growth with big companies moving in like Intel, Amazon, Google, Honda, and more. Long-distance investing is very doable with the right systems and team in place, so don't be afraid to explore outside your backyard if the numbers make more sense. Happy to connect and answer any questions you have!

Hey Orlando welcome to BP! These are great questions and ones a lot of investors ask early on. Generally, most people set up their LLC in the state where the property is located because that's where the asset physically sits and where most states require you to register if you're doing business there. Some do set up in their home state and then register as a foreign entity in the state where they buy, but that can sometimes mean extra paperwork and costs. As for whether to create one LLC per property or just one for multiple properties, it really depends on your goals, risk tolerance, and how much complexity you want to manage. Some investors keep everything under one LLC for simplicity, especially early on, while others use separate LLCs to isolate liability if they own multiple doors. It's a good idea to talk with a real estate attorney or CPA before locking anything in, since what works best can be a little different for everyone.

Hey Stephen, sounds like you’ve built some really solid momentum in a short time, and it’s awesome that your contractor moves fast and does quality work—that kind of partnership can be gold. When it comes to finding buyers for turnkey deals, tapping into existing investor communities can be a huge help. A lot of out-of-state investors are actively looking for exactly what you’re describing, because not everyone wants to deal with the rehab process. Think about spaces like investor-focused forums (BP is a big one), Facebook investor groups, local REIAs in markets where prices are higher, and agents or turnkey operators who already have investor lists. A lot of people look at markets like Kansas City or even places like Columbus, Ohio because the price points still make sense and the cash flow is strong. Positioning these deals with clear numbers—purchase price, rent, expenses, cap rate—can make them attractive and easy to evaluate quickly. It might take a little time, but once you land a few solid buyers, word of mouth can grow fast in this space. Happy to connect and answer any questions you have!

Hey Ashely that's actually a great idea and becoming more common with STR operators who want to keep a really high standard for their guests. A lot of people who scale past self-managing will bring in an inspector for a quick QC pass after cleaning, especially if they can't be on-site themselves. It's not always a full-time role either—some just have a reliable person do a walkthrough a couple times a week or right before check-in to make sure lights work, remotes have batteries, small details are handled, and everything looks guest-ready. For now, since you're handling both roles, you've already got your eyes on the details, but having a second set of eyes eventually can really help with consistency, fewer bad reviews, and catching those little things cleaners might miss. It's a smart move once your STR starts growing or when you want to free up some of your time.

Hey Alexsis, sounds like you’re thinking this through really smart and it’s great you’ve built that equity to work with. Section 8 can be a solid strategy for stable rent if you pick the right market and manage well. If you’re open to exploring beyond your current list, I’d definitely recommend taking a look at Columbus, Ohio. It’s one of the few bigger metros where you can still find affordable properties in the $120–180K range that hit the 1% rule and cash flow from day one, and there’s a lot of population and job growth here with massive developments from companies like Intel, Amazon, Google, Facebook, Honda Motor Company, and LG Corporation. Section 8 demand is strong, and the city is landlord friendly, which helps a ton if you’re investing out of state. Selling your home to free up that capital can give you more flexibility to scale faster, while renting it out can still be a solid option if the numbers make sense—so it really comes down to cash flow and your goals. If you build a good local team and buy right, out-of-state investing can absolutely work. Happy to connect and answer any questions you have!

Hey Chris, first off thank you for your service and it sounds like you've set yourself up with a really strong foundation between your low interest VA loan and solid cash flow. Tapping into that equity through a HELOC can be a smart move, especially since it gives you flexibility to shop around before taking on any actual debt, and a lot of investors use it to fund down payments or even full purchases without touching their primary financing. The key is making sure the numbers on your next deal are strong enough to comfortably cover the HELOC payments and still cash flow so you're not overleveraging. I moved from Portland to Columbus, Ohio in 2020 and built a 10+ rental portfolio, and I've seen a lot of investors successfully use equity lines to scale here because the market is still affordable and you can find solid properties in the $120–180k range that hit the 1% rule and cash flow from day one. Plus, the macro picture here is strong with big job growth and companies like Intel, Amazon, Google, Honda, Microsoft, and more expanding here. HELOCs can be a great tool if you stay disciplined with how you deploy the capital and make sure the next property pays for itself and the debt you're taking on. Happy to connect and answer any questions you have!

Hey Niko congrats on the inheritance—that's a really strong position to be in and a great way to jumpstart an investment portfolio. Since the house is paid off and worth around $400K, you've got a few solid options: you can either rent it out and let it produce monthly cash flow while it appreciates, sell it and redeploy the capital into multiple properties to diversify, or pull out some equity through a cash-out refi or HELOC to buy more rentals while still holding the original asset. A lot of investors use an LLC to hold property mainly for liability protection, but that's something to talk through with a CPA or attorney because there are tax and legal considerations, especially in California. If you're serious about getting started, a few great beginner courses and communities can give you a solid foundation, but honestly, hanging out here on BiggerPockets, running numbers, and analyzing deals daily will teach you a lot. Long term, the goal is to make that equity work for you instead of letting it sit. Happy to connect and answer any questions you have!

Hey Matt, welcome to BP! That’s a great question and honestly a smart one to ask before jumping in. If I were starting out today, I’d personally look for a simple long-term rental in a solid, growing market where numbers actually work. For example, I moved from Portland to Columbus, Ohio in 2020 to invest and now own 10+ rentals here because the fundamentals are so strong—lots of job growth, population growth, and major companies moving in like Intel, Amazon, Google, and Honda. You can still find deals in the $120K–180K range that hit the 1% rule and cash flow from day one, which is getting harder to find in a lot of other metros. For a first deal, something low maintenance in a landlord-friendly area with good appreciation potential sets a really strong foundation to build on. Happy to connect and answer any questions you have!

Hey Colin, welcome back and it’s awesome that you’re diving in again with a clear game plan. Since you’ve already got experience wholesaling, your skill set for finding off-market deals will definitely give you a head start. If you’re open to out-of-state, I’d recommend looking into Columbus, Ohio. It’s one of the strongest cash-flowing markets in the country right now, with population and job growth surging and major companies like Intel, Amazon, Google, Facebook, Honda, Microsoft, LG, and others investing heavily here. You can still find solid duplexes and small multis in the $120K–180K range that can hit the 1% rule and cash flow from day one, which is getting harder to find in a lot of metros. Because the city is growing so fast, there’s also great long-term appreciation upside on top of cash flow. A lot of investors here are finding deals through driving for dollars, direct mail, or working with local wholesalers and PMs who understand the submarkets well. Welcome to BP and happy to connect and answer any questions you have!

Hi Leah, selling a mobile home can be a little different from selling a traditional house since many of them are considered personal property rather than real estate, especially if it’s not attached to land. The process depends a lot on the state it’s in, but typically you’d need to treat it more like selling a vehicle—there’s usually a title involved, and you transfer ownership through that, not a deed. If it’s in a park, you may also need to follow their rules for sales and get buyer approval. If it’s on land you own, it could be real property, but if not, you’re essentially selling the home itself. A good first step is to check with the state’s DMV or housing agency to see what’s required for title transfer and any taxes or fees. You can also list it through a local mobile home broker or marketplace if you want help finding buyers.