All Forum Posts by: Min Zhang

@David Lewis I recommend reading “Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties” - I found it to be very helpful when I got started investing 2.5 years ago.

Here is a summary of the book.
https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greene

If the numbers doesn't make sense for you locally, that's the time you explore other route. I recommend having a property manager for your out-of-state properties. Best of luck!

Welcome to BiggerPockets Douglas! You're in the right place to learn about real estate investing. I am excited for you!

Welcome to BP, John! A duplex is a great starting point. I recommend beginning with a turnkey property. It’s the easiest way to get a feel for being a landlord without the stress of managing rehab projects. Good luck!

@Alon Saar

1. Since you already know that you want to focus on BRRRR, next you should identify your market. Then, start building your connection with local agents, contractors and property managers.
2. You can check tools like Niche, Roofstock, Zillow, or even just Google Maps can help you get a feel for neighborhoods and properties. It’s about understanding what each neighborhood offers. Look at things like safety, schools, local amenities, and the overall vibe. Also talk to local agents and ask for their insights. That’ll help you get a better sense of which neighborhoods align with your investment goals.
3. Check out recent sales in the area to get a sense of pricing and comps. Also, make sure the property's condition matches what you're willing to take on, or that the numbers work for you.
4. When it comes to repairs, I recommend talking to contractors who can walk through the property for you and give you a solid estimate. As for ARV, you'll want to look at recent sales of similar homes after they've been fixed up. An agent can also help with this.

@Emily Shin I did house hacking when I started investing in 2020. Here is an article with more information on what a house hack is -www.rocketmortgage.com/learn/house-hacking. A/B Class is your top choice as this will quality tenants. As for property class, I recommend aiming for properties in A/B class neighborhoods. These tend to attract more reliable tenants, and the properties generally require less maintenance. Good luck!

Hey Urvesh, check the neighborhoods around Cleveland Clinic Fairview Hospital (44111 - Kamm's Corner), Cleveland Clinic Hillcrest Hospital (Mayfield Heights - 44124), and Cleveland Clinic Main Campus (Fairfax - 44195). You can also look into areas near MetroHealth (Brooklyn Centre - 44109). Good luck!

Hi Jerry, BiggerPockets has some great calculators you can use to analyze deals. You can also check out Roofstock and Niche for insights on neighborhood grades and ratings. For rent comps, try Rentometer or Zillow’s "Price My Rental" feature.

Good luck!

Hi Shayan, you should also look into Cleveland if you're interested in cash flow deals. You can find duplexes under $200k in C class neighborhoods and meet the 1% Rule. I recommend checking out these west side neighborhoods for cash flow: Jefferson, Cudell, Brooklyn Centre, and West Boulevard

Diana, I suggest you first choose the neighborhoods you want to invest in. Try to avoid areas that seem risky. Some of my clients use Roofstock and niche to identify neighborhood rating. If you want good tenants and peace of mind, I recommend looking for Class A or B properties as these usually attracts quality tenants. Most of my out-of-state investors don’t visit the property in person, but they always check everything carefully and get an inspection to make sure the property is in good shape.

Welcome to BP, Omar! My advice would be to really hone in on the strategy you want to use for your first investment. A great starting point could be focusing on turnkey 2-4 unit properties or considering house hacking. Also, make sure to start connecting with other investors in your market to build relationships and learn from their experiences