All Forum Posts by: Melissa Justice

@Melissa Adams,

Hey Melissa! I love seeing another Melissa here, and even better that you're based in Columbus too! :-)

With your background as a Real Estate Paralegal, you already have a leg up - seriously, understanding contracts, title, and the legal side of deals is huge in this business. Now it’s just about learning how to apply that knowledge from the investor side.

I’m also in real estate and work closely with investors across the country, including in Columbus. It’s a great market with solid fundamentals, especially for long-term rentals and value-add properties. If you're just getting started, I'd be happy to share resources or help you connect with other investors, agents, or property managers locally.

You're in the right place and taking action already puts you ahead of most. Excited to see how your journey unfolds! Always happy to help and answer any specific questions along the way.

Best of luck,

Melissa

@Ravi Iyer,

Hey! Welcome, and congrats on stepping into real estate investing (even if it’s via inheritance)! Owning property in Columbus, OH can be a major advantage! It’s a growing market with solid rental demand, especially in well-located neighborhoods.

Since you’ve got some local knowledge, you’re already ahead of most out-of-state landlords. Now it’s just about getting systems and the right team in place.

Here’s how to get started -- 
Property Management Tips:
Interview at least 2–3 local property managers - ask about their experience managing older properties, tenant screening, rent collection, and maintenance response times.

Look for firms that manage small to mid-size multifamily if your portfolio includes duplexes or quads.

Ask for references from other landlords they work with, and don’t hesitate to request a sample owner report.

If You’re Considering Remodels:
Prioritize units that are vacant or underperforming first - improving those can bring immediate ROI.

Focus on rent-ready renovations: flooring, paint, kitchens/baths, curb appeal.

Ask PMs or agents what finishes renters expect in the area so you don’t over-renovate.

Thinking of Expanding/Exchanging?
Columbus still has pockets with great rent-to-price ratios and steady appreciation.

If you’re holding long-term and want less hassle, you might explore selling off a high-maintenance unit and 1031 exchanging into a turnkey or newer-build duplex.

You’ve got a solid asset base in a strong market. With the right team and strategy, you can definitely grow from here. Welcome to the investor side! Excited to see where this goes for you!

Best of luck,

Melissa

@Mark Rolfe,

Welcome to the community and great first post! You’re asking all the right questions, and it’s clear you’re approaching this with the right mindset.

Starting with duplexes or 4-plexes in the Midwest or South is a smart move - those markets often offer better cash flow, affordable entry prices, and solid long-term tenant demand.

Here’s some advice based on experience--
How I (and many others) got started:
Bought a turnkey duplex out of state with a local property manager in place.

Focused on markets like Indianapolis, Birmingham, and parts of Florida (e.g., Citrus Springs) where rent-to-price ratios were strong.

Kept it simple: prioritized decent cash flow and good PM over trying to chase a big rehab deal on the first go.

Turnkey vs. Fixer-Upper?
Turnkey is great if you're short on time, want to learn the ropes, and value predictable performance.

Fixer-upper may give you more equity, but it’s riskier, especially if you’re remote and still learning.

For your first deal, many recommend starting turnkey or rent-ready so you can focus on learning without the stress of a rehab.

What I’d do differently:
Interview property managers more thoroughly - they make or break your experience, especially out of state.

Run more conservative numbers (budget for maintenance, vacancy, etc.)

Focus more on team and systems than the “perfect” deal.

You’ve got the right goals - cash flow and long-term wealth. Stick with it, build one property at a time, and momentum will follow.

Feel free to reach out if you want to run numbers or talk through a market - rooting for you!

Best of luck,

Melissa 

@Juan Lopez,

Hey, welcome to the journey! I love that you’re jumping in with a clear strategy right out the gate!

Targeting Section 8 rentals in Detroit, Memphis, and Cleveland can be a smart move, especially for consistent, government-backed income. Each of those markets has affordable price points, strong rent-to-price ratios, and active investor networks, which makes them ideal for long-distance investing when you have the right team in place.

Here are a few tips to help you get started:
Build Your Remote Team First --
Look for property managers with Section 8 experience - they’ll help you navigate inspections, tenant placement, and recertifications.

Ask agents if they work with investors regularly and understand rental-grade rehab.

Vet contractors carefully, especially in cities where contractor reliability can vary.

Get familiar with the local Housing Authority’s payment standards.

Budget for slightly longer turnover timelines due to inspections.

In exchange, you’ll often get long-term tenants and consistent rent deposits.

Market Notes --
Detroit: Tons of investor activity and upside, but neighborhood-specific - know block-by-block. (I've personally invested in submarkets of Detroit)

Cleveland: Strong PMs available, lots of C-class inventory that works well with Section 8.

Memphis: One of the more active Section 8 markets - good returns but make sure you vet crime and tenant demand closely.

You’re on the right path. Out-of-state + Section 8 is a great combo if managed right. Happy to connect or point you toward contacts if you ever want to compare markets or teams. 

Best of luck,

Melissa

@Keaton Vols,

Hey and congrats on your house hack! That’s a huge step and shows you’re already thinking like an investor. It’s totally normal to feel uneasy about out-of-state deals, but with the right system and team, it can absolutely work.

Why Go Out-of-State?
* Better cash flow and affordability (especially in markets like Indianapolis, Birmingham, or Citrus Springs, FL)
* More landlord-friendly laws
* You can treat it like a business and stay hands-off with the right team

Tips to Get Comfortable:
1. Pick a solid market -job growth, population growth, good rent-to-price ratios.
2. Build a strong local team - investor-friendly agent + reliable property manager is key.
3. Run conservative numbers - make sure it cash flows with management and vacancy factored in.
4. Start with rent-ready or turnkey properties - less risk and easier for your first out-of-state buy.

You’ve already got momentum, so now it’s about scaling smart. 

Always here to chat more and process strategy! 

Best of luck, 

Melissa

@Justin Salazar,

Hey Justin and welcome! You're in the perfect place to start this journey, and props to you for diving in early at 23 - that gives you a huge runway to build long-term wealth.

Here’s a roadmap to get you started in real estate investing:
1. Get Clear on Your “Why” and Strategy
Ask yourself:
Do I want cash flow or long-term appreciation?
Am I looking to buy locally or open to out-of-state investing?
Do I want to be hands-on (DIY landlord) or more passive?

Your answers will guide whether you pursue rentals, flips, house hacking, turnkey investing, or even real estate syndications.

2. Start Learning (Free + Paid Resources)
Read: The Book on Rental Property Investing by Brandon Turner

Listen: BiggerPockets Podcast (start with Rookie episodes)

Learn to analyze deals: Use the BP calculator or a spreadsheet to understand cash flow and ROI

3. Build Your Network
You’ll need:
Investor-friendly real estate agent
Lender (for pre-approval if using financing)
Property manager (especially if investing out-of-state)
Other investors you can learn from
Join local REI meetups or look for networking events through Meetup or BP forums.

4. Pick a Market That Matches Your Budget
If you’re getting started with limited capital, look into cash-flowing markets in the Midwest or Southeast like:

Birmingham, AL
Indianapolis, IN
Cleveland, OH
Central Florida (like Ocala or Citrus Springs)

These are great for beginners with solid rent-to-price ratios.

5. Save for That First Deal
If you're not quite ready financially, start stacking cash while:
Building credit
Learning the numbers
Networking and researching markets
Even saving $10K–$20K can get you started with house hacking, or investing with a partner or in a low-cost out-of-state rental.

Don’t feel like you need to know everything before you start. The most successful investors learn while doing. Pick a lane, take the first step, and course-correct along the way. You’re already ahead of the game just by showing up here.

Always here to help strategize :-)

Welcome to the journey.

Best of luck,

Melissa

@Christopher Costea,

Congrats on the new baby and on thinking long-term about building wealth through real estate. You’ve got a strong income foundation, and even with a packed schedule, you’re doing the smart thing by considering passive investing options that fit your lifestyle right now.

You're absolutely right - the NY tristate market is challenging, especially if you’re looking for decent cash flow or less management-intensive opportunities. And with your current time demands (medical work, MBA, family), it makes total sense to start with truly passive or low-maintenance investments.

Syndications are a great way to diversify into real estate without becoming a landlord or operator. You’re essentially investing as a limited partner (LP) into larger deals - apartment complexes, storage facilities, or commercial assets - that are managed by experienced teams.

Here's what to know as you start exploring:
Pros: Truly passive, solid returns (often 6–8% cash-on-cash + equity upside), tax benefits, no management stress

Cons: Capital is typically tied up for 5–7 years, not liquid, and you need to vet sponsors carefully

Minimums: Most require $50K–100K per deal; some allow $25K to start, especially via crowdfunding platforms

Start by:
Listening to podcasts like Passive Real Estate Investing (Marco Santarelli) or Real Estate Syndication Show

Checking out platforms like CrowdStreet, RealtyMogul, or Ashcroft Capital’s educational resources

Asking sponsors: "What’s your track record? Have you gone full-cycle on deals? What are the preferred returns, and how is risk split?"

Alternative: Turnkey Rentals in Landlord-Friendly States
If you want a little more control and ownership but still need it to be passive, consider buying a turnkey property in a stable, cash-flowing market with property management already in place.

Markets like:
Indianapolis, IN
Birmingham, AL
Ocala or Citrus Springs, FL

These are great for high-income W2 earners who want monthly cash flow with little to no hassle. You can often buy fully rehabbed homes with tenants in place and net 6–7% returns after all expenses.

You’re laying the groundwork now while balancing a demanding career and family and that’s something a lot of us in this community can relate to. As your bandwidth expands later (post-MBA, maybe fewer hours in the field), you’ll already have experience and passive income working for you.

For now, I’d recommend:
Learn the basics of syndications and passive investing
Vet a few sponsors or platforms and invest small to start ($25K–$50K)
Consider 1–2 turnkey rentals with PM in place if you want a blend of cash flow + equity

You’ve got the income, mindset, and long-term vision! Now it’s just about aligning your strategy with your time capacity. 

Happy to chat more about specific markets or run deal scenarios side by side :-) You’re on the right track! Welcome to the journey!

Best of luck,

Melissa

@Francis Bernadel,

Hey! Huge congrats on the pre-approval and on the mindset shift. It's not always easy to pivot when Plan A isn’t working but recognizing it and still moving forward is a mark of a strong investor mindset. You’re not just dreaming - you’re adapting and building, and that’s powerful.

You’re absolutely right: $500K in NYC doesn’t stretch far these days, especially for something you'd want to house hack. But there’s good news - your ability to pivot into out-of-state rentals opens the door to markets where that money can go a long way.

Yes, you can (and many do!) build a strong rental portfolio in completely different states than where you live. The key is building a local team you trust and sticking to markets with investor infrastructure in place.

What Makes a Good Out-of-State Market:
Strong cash flow with reasonable home prices (often under $250K)
Landlord-friendly laws
Stable or growing job and population trends
Local property managers and investor-friendly agents
Off-market or turnkey opportunities if you’re starting remotely

Rochester is a solid market - good rent-to-price ratios and low vacancy. But if you’re going “long distance,” don’t limit yourself to just NY. And NY is NOT a landlord friendly state..

Check out these other Midwest and Southeast cities where your capital can go further and still deliver strong cash flow:
Birmingham, AL – Affordable, high rental demand, landlord-friendly
Indianapolis, IN – Very investor-friendly, strong PM and rehab networks
Cleveland, OH – Lower price points, decent rent yields
Ocala or Citrus Springs, FL – Newer builds, growing population, low maintenance

Start by connecting with agents or providers and property managers in 2–3 target markets. Ask them what areas to avoid and what rent-ready homes typically go for.

Listen to podcasts on remote investing (like David Greene’s long-distance investing strategy - really beginner friendly).

Decide: Are you going for cash flow or low maintenance/newer homes with better long-term appreciation? Both are valid, just know your priority.

Finding an Apartment While Saving:
Consider renting in a duplex or ADU setup, where utilities are included or discounted

Look for apartments near public transit or your job to reduce car expenses

Be transparent with your partner about your savings goals and turn this into a team effort

Run your budget like you’re already a landlord - create margin for savings and “mock expenses” like vacancies and maintenance

If you’re still leaning toward house hacking eventually, but it’s not feasible now, maybe consider buying a small multi out of state, and managing it with a PM while you rent affordably in NYC and save aggressively. In 1–2 years, you may have:

More equity from your first deal
Experience with ownership
A stronger foundation to revisit house hacking when timing and market align

Your goals of building for your partner and future family are exactly why this effort is worth it. Keep your eye on the long game, take action step-by-step, and you’ll be surprised how fast momentum builds once that first property is in place.

Always happy to chat more specifically about markets or run deal scenarios side by side! 

Best of luck,

Melissa

@Daniela Leon,

Welcome to the community, Daniela and happy 30th! Starting your real estate journey now puts you in a great position to build serious momentum over the next decade, especially if you’re open to value-add opportunities like rehabs.

Here’s some advice to help you get started strong with remodeling-focused rentals:

If You’re Planning to Buy a Property That Needs Remodeling:
1. Start Building Your Team Early
A solid contractor or handyman is worth their weight in gold - get referrals locally and interview more than one.

Line up an investor-friendly real estate agent and lender too (if you’re not buying with cash).

Consider partnering with a local property manager even during the rehab phase for insights on tenant expectations and rent potential.

2. Focus on Cosmetic Fixes First
As a first-timer, try to avoid anything needing major structural, plumbing, or foundation work unless you have a strong team.

Kitchens, bathrooms, paint, flooring, and curb appeal usually give you the best ROI.

3. Budget for Holding Costs + Contingency
Include extra reserves for permit delays, material shortages, or labor overruns. A 10–15% buffer is smart.

If it’s a long rehab, account for holding costs like utilities, insurance, taxes, and loan interest (if financed).

Education & Mastermind Suggestions:
Online Resources:
BiggerPockets Webinars & Forums – Tons of archived content on BRRRR, rehabs, and value-add strategies.
BiggerPockets Rookie Podcast – Focused on people exactly in your shoes - highly relatable!
YouTube Channels – Search for remodel walk-throughs by creators like The Homies, Ryan Pineda, and The Real Estate Robinsons.

Courses:
BiggerPockets Real Estate Rookie Bootcamp – A structured program for beginners that covers deal analysis, rehab, and more.
REI Remodel Course by Austin Rutherford (or similar BRRRR-focused educators) – Breaks down the reno process from a cash-flow lens.

In-Person Masterminds/Events:
BPCon 2024 (Las Vegas this October!) – Amazing for networking, workshops, and meeting investors at every level.
Local REIA (Real Estate Investor Associations) – These are everywhere and often have contractors, lenders, and rehabbers in attendance.
Meetup.com – Search for “real estate investing” in your area - often free or low-cost educational events.

Start small, stay focused, and don’t feel like you need to know everything before you buy. The best learning happens in the field. Just make sure you run your numbers, surround yourself with people who’ve done it before, and protect your downside.

You’ve got the right mindset! Welcome again and happy to always chat more about specific markets or run deal scenarios side by side :-)

Best of luck,

Melissa

@Carissa Atendido,

Hey and welcome to the investing journey! You're asking all the right questions, and I really like how you’ve already thought through your why behind choosing new construction. That clarity is huge, especially for your first deal.

You're right: Central Florida is booming - population growth, job expansion, and strong rental demand are all working in your favor. Markets like Citrus Springs, Ocala, Palm Bay, and parts of Lakeland still offer new builds at reasonable prices with solid rent growth potential.

Let’s break down the pros and cons of your approach so you can move forward with confidence:

Pros of New Construction for First-Time Investors:
Low Maintenance: As you said, everything is brand new - roof, HVAC, plumbing - which means fewer surprise repairs in the first 5–10 years.

Warranty Coverage: Most reputable builders offer 1-year full warranties and 10-year structural warranties, reducing risk.

Strong Tenant Appeal: Tenants love new homes - clean, modern finishes = higher rent and lower turnover.

Builder Incentives: Credits toward closing costs or interest rate buydowns can be great leverage.

Ideal for Out-of-State or Passive Investing: If you’re not planning to be hands-on, new builds tend to be smoother operationally.

Cons & Watch-Outs:
Lower Cash Flow Upfront: Because new builds are usually priced at a premium, cash-on-cash returns may be modest the first few years. This is more of a long-game appreciation + rent growth play.

HOA Rules: If your new build is in a planned community, double-check any restrictions on renting (length of leases, property appearance, etc.).

Delayed Build Times: Construction delays can happen - factor this into your hold timeline and loan terms if you're financing.

Your approach is solid, especially if you're playing the long game and prioritizing ease, tenant demand, and minimal maintenance. If you pair it with a good local property manager, you'll set yourself up for a low-stress first experience and you’ll be able to learn while the asset appreciates.

That said, if cash flow is your #1 priority, it’s also worth looking at slightly older, fully renovated properties in landlord-friendly markets like Birmingham, Indianapolis, or parts of the Midwest/Southeast. They often have stronger day-one cash flow, even if appreciation is slower.

You’ve clearly done your homework, and you’re approaching this the right way. Always happy to chat more about specific markets or run deal scenarios side by side :-)

You’re on the right path and now it’s just about getting that first one under your belt.

Best of luck,

Melissa