All Forum Posts by: Mimi Lieder

You'll want to think about your vision of your goal. Are you looking for pure cash flow or buy and hold appreciation. Is house hacking an option? BRRRR is more difficult with interest rates being higher. Look at the demographics of job growth, housing starts, and population growth. Increasing demand in a market will raise rents and equity. In the Lake Tahoe Market there are STR options but the demand and pricing is hard to break into. Alternatively only a few miles away in Reno, NV there are some cash flow and long term rentals options with strong signs of appreciation. Look at the whole market and all the factors that would effect income potential.

My goal is to eventually have financial freedom. I’ve always wanted to invest in real estate, but never started because I never knew where to start. I’ve heard a lot of good things about the Midwest lately but generally the population there is on a decline. It also seemed ideal because the prices are low and I don’t have that much capital to play around with. Being that I live in NYC, there aren’t many options around me. I’ve thought about a multifamily in Connecticut and I honestly still am thinking about it, just not sure if it’s a good option long term.

1 Vote

Quote from @Steven De Lange:

BRRR out-of-State is a great strategy if you have a good team of people in the area you are looking to invest (realtor, property manager, and contractor/ project manager)- a team you can build through BP.

Typically if you find a good realtor who can property manage, they will have an equally good network of people in the area for the BRRR.

If you are not comfortable with that as a starting investor, buying something more turn-key is a great way to start too!

Hope this helps :)

Thanks! I’ve been wanting to get into it for a while but I can’t seem to make the first step forward. I’ve also heard from a few people that investing in a property that you can’t manage yourself isn’t usually worth the investment… just want to make sure I’m making the right moves.

0 Votes

Quote from @Austin McClain:

I recommend starting with something more turnkey out of state. With that property, you'll start to build a team to take on bigger projects like a BRRRR

My only issue is that I only have about $40k to invest. If I do manage to be able to invest that well buying a turnkey property, I don’t see myself making more than a couple hundred bucks a month, if I’m lucky.

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Quote from @Nicholas L.:

@Mimi Lieder

OOS is much more difficult than advertised. Can you start either locally, or within a couple hours of where you live?

Technically I can, I just don’t know if that would be such a great investment. I was leaning towards the Midwest because I don’t have that much capital (around $40k) but if I see Connecticut being fit I would consider that as well.

0 Votes

Hi,

I'm looking to invest in real estate out of state, what type of investment would be best for someone looking to build a real estate portfolio overtime, out of state? I have looked in to the BRRR method, although it seems very difficult to get started remotely. Would appreciate any info.

Thanks!

3 Votes

All Forum Posts by: Mimi Lieder

Mimi Lieder has started 1 posts and replied 5 times.

Post: Different types of real estate investments

Post: Different types of real estate investments

Post: Different types of real estate investments

Post: Different types of real estate investments

Post: Different types of real estate investments