Ohio Cashflow LLC
Investor · Howey In The Hills, FL · Member since 2015 · 95 posts · 37 votes
Ohio Cashflow LLC
Most Popular Reply
Investor · Chico, CA · Member since 2017 · 10 posts · 25 votes
9yMy Day in the Life At Ohio Cashflow... I apologize for the long winded post.
I"m an out of state investor from Nevada, formerly from California (bye bye Cali). I realize this is an older thread but it was the first one that popped up when I searched BP for Ohio Cashflow... and I want to throw in my 2 cents.
I'm typing this out as I sit in my hotel room in Toledo (Hampton Inn is fantastic and close to the OCF office) after spending the day and evening with the team. I'm still trying to digest the day and that delicious rib eye (Thanks Engelo). But let me start at the beginning.
My wife and I are about to retire. I actually pulled the plug on the J.O.B. About a month ago which freed me up to travel to Toledo. We are moving to Central America this coming August and we needed a modest passive income stream to facilitate our minimalist lifestyle. We have sold it all (Except the Harley) including our primary residence that we had purchased and rehabbed ourselves over the past four years. It was a foreclosure and I did the rehab while we lived in it... we owned it outright and the sale was what we needed to begin our adventure in Turn Key properties. Our immediate goal was to acquire between 7 to 10 properties with a ROI between 3500 to 4000 a month. We were very calculating about our model and used a very conservative approach toward expenses. Keep in mind we are debt free and not interested in using leverage to get started.
I started my search for TK operators on the web and ended up here at BP. What an outstanding resource and I appreciate the time and effort by all the contributers here in the forums. Spending endless hours searching and vetting I had whittled it down to a few areas in the Midwest and the South. Memphis was first on my list because it was sexy and there was a lot of interest there. I spoke with a few operators there and we just didn't click. I'm not going to name names, but it just wasn't the right fit and it didn't match our expectations for our model. I moved on the the KC market and again... not a fit for us. Next was Indy, same story. Via email and phone and a lot or research we moved our attention north to Ohio.
It didn't take long to find the Dingo aka Your Favorite Australian. I made my appointment to talk to Engelo and he was actually the first guy to call me almost on time. 5 minutes late, we don't sweat the small stuff. Before I made my call I tried to dig up the dirt on him and his team. Nothing negative. Only positive. In hindsight I believe that anyone that has had a bad experience with OHF was probably not a good fit for this operator. I also watched a lot of his videos and Google walked the 5 Points area for days. The neighborhoods were interesting and I kinda fell in love with them. Spent time on Trulia and Zillo learning as much as I could about the area.
Our phone call was short and sweet. I was prepared with my questions and he had an answer for every one of them. He was everything I expected. Cocky, sharp and to the point. He asked for the good faith deposit and I layed down the 5k without hesitation. I shared with him my model with full disclosure and he put me in touch with Rebecca who sent me some deals. We crunched the numbers and walked with Google and made our decision to go with one to start.
The transaction was flawless and the communication between myself, my wife and Rebecca was outstanding and met every expectation. She asked us when we wanted to close escrow and we closed on that date. It took about 8 days. OCF introduced us to the title company and gave a referral for an insurance company (The one they use for their personal portfolios). Everything went super smooth... as if they knew what they were doing, LOL.
Bang, just like that we had our first property. Next we were introduced to the in-house property management team. Any questions I had about the PM were answered in advance by either Engelo or Rebecca. Our on-line portal was set up and all we had to do was wait for the cash to flow.
I made my travel plans to visit the team in person, quit my job and said "Let's buy another one". I wanted to have a few under my belt so when I got to Toledo I could visit them. The second one went really quick too. Sweet little 2/1 that yields 8.7% return after our conservative strategy. If I'm not mistaken we closed on that one in like 5 days. It would have been 4 days but there was the Memorial Day holiday in the middle.
Low and behold, on the 14th of the following month the money hit our account. True to his word we received rent on the one property that didn't even have a tenant in it. Not one hiccup to this point. It's onward to Toledo.
I flew into Toledo and got in late. We had a little mix up with what airport I was flying into but Rebecca picked me up and took me to my hotel. I was going to rent a car, but she insisted in picking me up. A very nice gesture. It was about 12:30 in the morning. OCF truly works around the clock. First class service. Ahahaha, she would even let me load my own bag in the back and she insisted I sit in the front with the driver, her husband. He is also a member of the OCF team working in renovations. If I'm not mistaken he oversees renovations. In the middle of the night I'm firing off questions and they in turn answered them all. I'm surprised they didn't tuck me in. The nicest of people, I tell ya.
Engelo's personal assistant, GG, picked me up in the morning and took me to the office. Along the way, more questions and answers. GG is a delight. Right on time, no surprise. When I entered the office I was greeted by the controlled chaos. Everyone was busy but they all took the time to get to know me. From operations to property management.. then acquisitions and finally the Dingo himself.
Engelo was everything I expected. The guy is a nut. Passionate and full of life and love for what he does and the people he works with. You know that feeling you get when you meet someone and you just know you made the right decision??? Yep, I had that feeling. He was interested in me and my success. His success come from his investors success... the people that work for OCF thrive off of his energy and he has tons of it... oh to be young and passionate... and smart. I got the feeling that working for this guy was a commitment like no other. I liked it. You just feel like you want to be part of it. You want to get on the train... and I did!
Rebbeca took me on a tour of the neighborhoods and I got to see my properties. One that has a tenant in it we could only view from the outside. We don't bother tenants. She was miffed that the lawn was not mowed and made a note to talk to the PM about it. I noticed the new roof and that the rain gutter was pulled from the awning. She made another note and said there were still a few minor things that didn't meet her appoval and that they would be taken care of in short order. Sweet.
On our way to the next property she showed me a few more that they either owned, managed for other investors and even some that they were wanting to acquire. Along the way she was asking the other investor advisor that was doing the driving why they didn't own this one or that one. They wrote down a few addresses. We stopped by one property they had recently bought that had not had any work done on it yet. We went in and I just had to shoot a video of it. It was trashed... I mean wrecked. And smell???? The flys were everywhere. Someone had painted the face of Jesus on one wall (I thought it was the Zig Zag man...) On another wall the word "Sorry". There was crap everywhere. The kitchen was void of appliances and torn up mattresses in the bed rooms. "But can't you see the potential?" Rebecca said. I wanted to go down into the basement (we don't have basements where I live) but I couldn't. The smell was too bad. She did say something about removing the dead body before we got there... I wouldn't be surprised except for the fact that the nice neighborhood didn't seem like the type akin to harboring dead humans... but whatever.
On to my property that was under renovation and almost complete. I took some pics and video of it. The floors were brand new. Beautiful laminate in the living and dining... new ceiling fans too. Tough linoleum in the kitchen but the appliances had yet to be installed. There was a lot of stuff on the countertops, but they too looked new and modern. Fresh paint with the baseboards and trim in gloss white. Upstairs and bedrooms had new carpet throughout and the job looked well done. They had a guy working on the one and only bathroom in this old 3/1 home. He was working on the shower. Like everyone else working for OCF, this dude was cool. I didn't want to waste his time, but he was happy to talk with me. Earlier in the day Engelo warned me not to waste his peoples time. I know he was half kidding but I wanted to respect that fact that these folks had work to do and I was in the way of that... ahahahaha.
There is obviously more lipstick to put on this pig before it's rent-ready, but it's getting close. My only knock is the attention to detail, but again... it's not finished. I look forward to seeing pictures of the finished product. What I mean about the little things is nothing more than getting paint on things that aren't suppose to have paint on them and no fresh paint that needs some. In the meantime, I look forward to seeing the rent hit my account, tenant or no tenant.
After a little more touring and visiting other opportunities they took me back to my hotel. I contacted my wife and she gave me the go ahead to pursue two more. She ran the numbers on the ones I liked and they ran COC of 8.3% and 8.6% respectively. Both are 2/1's in what Rebbeca calls the "Shoe Store Neighborhoods". She likes to shop there... not for shoes, but for houses. I really like the 2/1's but so does Engelo. Keep in mind that as he helps investors build their portfolios he is building his own... and he likes the 2/1's too.
I took a quick swim and got in some exercise before GG, Engelo's personal assistant picked me up and took me to the office again. There is a lot going on at the OCF office. There is construction going on down in the boardroom. We goofed around a bit and Engelo demonstrated his robot... yes robot. Before Engelo, Dominic, Rebecca and myself went to dinner there was one final thing that had to be done before we could go. We had to move a few boxes and center the table. When I say center the table, I mean center the table... to exacting measurements. It had to be perfect. And it was. Can you say OCD??? He is a mad man.
The four of us had a lively conversation during and after dinner at Longhorn Steak House. Funny, we all ate rib eye cuts. We enjoyed conversation and sharing each other's passions, visions and even a little business. For me, the time I spent with the crew only solidified in my mind that I made the right decision investing in Ohio Cashflow. I say "In them" because I really feel like I'm part of the team, not just a number. Engelo promised last night that he would review the inventory and get back to with some deals. He would like to see me diversify in other neighborhoods and suggested we look at others before pulling the trigger on what I'd suggested. I like that. He has a great understanding of my model and is eager to help me attain my goals and to look at even a bigger picture... So, I'm typing this out as I wait for the call. I know they are super busy today and if I don't get the call today, it's cool... we don't sweat the small stuff. We will do more business, that I am sure of.
I hope this review of my day with OCF helps you. I know the window of opportunity is closing with the operator and in truth I suppose I'm a bit selfish and like to keep this gem to myself... but that's not what I'm made of. I wish only success for this business and look forward to growing with them. I also know that this is not for everyone. Engelo can bet a bit brash, but I really relate to that. As others have said they only deal with cash buyers which also isn't for everyone... but I will tell you that if this model fits for you, you can't ask to work with or invest with a finer operation.
I know this all sounds like its all roses, but I'm sure there will be bumps along the way. None so far, but I know it will come. When it does, I know my best interest will be at the fore front. It's just how these people do business.
Thank you for taking the time to read this... and again I hope you benefit from my day here in the Midwest.
Mikie V
240 Replies
- 9yJoshua DiazPro MemberRental Property Investor · Bronx, NY · Member since 2015 · 269 posts · 165 votes
I'm glad this thread is still going strong. Ever since first discovering real estate investing over a year ago ( has it been that long?), I've been saving and learning about all the different types of investment strategies. I keep coming back to turn key.
I am actually in contract for my very first property ( a duplex) and if all goes well and I didn't screw up my due diligence, this property will have a decent chunk of equity on the table to take out and invest with once some repairs have been made.
Hopefully it's not too late @Engelo Rumora because I would still like to invest with you and I didn't forget your challenge to me during the last BP Meetup we attended in NYC. I just decided to try to meet that amount by pulling the trigger on this property.
Thank you everyone for all the in-depth reviews and insight. They are super awesome!
- 9yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Joshua Diaz:
I'm glad this thread is still going strong. Ever since first discovering real estate investing over a year ago ( has it been that long?), I've been saving and learning about all the different types of investment strategies. I keep coming back to turn key.
I am actually in contract for my very first property ( a duplex) and if all goes well and I didn't screw up my due diligence, this property will have a decent chunk of equity on the table to take out and invest with once some repairs have been made.
Hopefully it's not too late @Engelo Rumora because I would still like to invest with you and I didn't forget your challenge to me during the last BP Meetup we attended in NYC. I just decided to try to meet that amount by pulling the trigger on this property.
Thank you everyone for all the in-depth reviews and insight. They are super awesome!
Well done mate
Ride that bull all the way :)
Much success
- Encino, CA · Member since 2017 · 36 posts · 24 votes8y
It's now late 2017, anyone?
- 8yJoshua DiazPro MemberRental Property Investor · Bronx, NY · Member since 2015 · 269 posts · 165 votes
Originally posted by @Anthony Bertolino:
It's now late 2017, anyone?
None yet. I’m still closing on my first property which, after some non extensive rehab, will let me pull some equity out to pick up more.
- Washington, DC · Member since 2018 · 35 posts · 11 votes8y
Anything new?
I have been reading a lot of brilliant reviews of Ohio Cashflow and was very excited to talk to them last week... I like what I heard and read about building a long-term relationship with the investor, with a high-quality product, excellent PM and quality tenants. Sounded perfect.
But did not have a great experience on our conversation. Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list). Then, I read this thread and think that I just maybe need to talk to someone else?
Or maybe I am getting into Analysis/paralysis. Could that be it?
- Rental Property Investor · Wentworth Falls, NSW · Member since 2016 · 20 posts · 24 votes8y
I'm a current investor with Ohio Cashflow. I've just helped another BPer invest with them. He had read my review and PMed me and I was able to answer his questions. Happy to help you out too if you'd like. I know I had a lot of questions when I first started and was lucky enough to connect with a current Ohio Cashflow investor who was able to answer my questions. Feel free to send me a colleague request.
- Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes8y
Originally posted by @Lara Chinarro:
Anything new?
I have been reading a lot of brilliant reviews of Ohio Cashflow and was very excited to talk to them last week... I like what I heard and read about building a long-term relationship with the investor, with a high-quality product, excellent PM and quality tenants. Sounded perfect.
But did not have a great experience on our conversation. Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list). Then, I read this thread and think that I just maybe need to talk to someone else?
Or maybe I am getting into Analysis/paralysis. Could that be it?
I do not know much about them. Did they cut you off when asking questions? That seems a bit odd. I would hope anyone in their position would be able to answer all of your questions no matter the length of the list!
Also, you may want to look at:
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Lara Chinarro:
Anything new?
I have been reading a lot of brilliant reviews of Ohio Cashflow and was very excited to talk to them last week... I like what I heard and read about building a long-term relationship with the investor, with a high-quality product, excellent PM and quality tenants. Sounded perfect.
But did not have a great experience on our conversation. Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list). Then, I read this thread and think that I just maybe need to talk to someone else?
Or maybe I am getting into Analysis/paralysis. Could that be it?
Hi Lara,
Thanks for your comment.
My apologies if you didn't have a great experience with your first call.
Ohio Cashflow is known for turning down more business than we take on unlike 99% of the other turnkey companies.
Over the years we have received 3,000+ investor application forms and have probably had even more phone calls.
That experience has enabled us to quickly evaluate if someone will be a right fit for our company and vice versa.
Unlike other turnkey companies, we only take on investors that we truly believe that we can assist.
Taking the next step and just "selling you" a product is not how we operate.
To be honest, we actually don't even have a "sales spiel" but rather do our best in talking investors out of buying.
Building a large and successful portfolio takes years and it's a rocky road that in my opinion isn't for everyone.
The investor and the turnkey company must "like" each other and "respect" each other in order for the relationship to be successful long term.
It's like a marriage :)
With all that said, I'd be more than happy to personally speak with you and answer any questions that you might have.
And if nothing else, at least point you in the right direction.
Thanks and don't hesitate to email
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Tom Ott:
Originally posted by @Lara Chinarro:
Anything new?
I have been reading a lot of brilliant reviews of Ohio Cashflow and was very excited to talk to them last week... I like what I heard and read about building a long-term relationship with the investor, with a high-quality product, excellent PM and quality tenants. Sounded perfect.
But did not have a great experience on our conversation. Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list). Then, I read this thread and think that I just maybe need to talk to someone else?
Or maybe I am getting into Analysis/paralysis. Could that be it?
I do not know much about them. Did they cut you off when asking questions? That seems a bit odd. I would hope anyone in their position would be able to answer all of your questions no matter the length of the list!
Also, you may want to look at:
Hi Tom,
I've seen you "lurking" around the forum quite often and this is the second time you have commented on something regarding Ohio Cashflow related.
I ignored it the first time but since this is under Ohio Cashflow's thread, I had to address it.
Not sure if your comments are honest or you have a hidden agenda.
Feel free to message me if you have any issues regarding my company or me personally.
Thanks and please send me regards to Steven
- Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes8y
Originally posted by @Engelo Rumora:
Originally posted by @Tom Ott:
Originally posted by @Lara Chinarro:
Anything new?
I have been reading a lot of brilliant reviews of Ohio Cashflow and was very excited to talk to them last week... I like what I heard and read about building a long-term relationship with the investor, with a high-quality product, excellent PM and quality tenants. Sounded perfect.
But did not have a great experience on our conversation. Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list). Then, I read this thread and think that I just maybe need to talk to someone else?
Or maybe I am getting into Analysis/paralysis. Could that be it?
I do not know much about them. Did they cut you off when asking questions? That seems a bit odd. I would hope anyone in their position would be able to answer all of your questions no matter the length of the list!
Also, you may want to look at:
Hi Tom,
I've seen you "lurking" around the forum quite often and this is the second time you have commented on something regarding Ohio Cashflow related.
I ignored it the first time but since this is under Ohio Cashflow's thread, I had to address it.
Not sure if your comments are honest or you have a hidden agenda.
Feel free to message me if you have any issues regarding my company or me personally.
Thanks and please send me regards to Steven
Hi Engelo,
Sorry for however my comments came off. I was being honest with no hidden agenda. I was mainly just trying to understand what was the situation. I do not know too much about your company, but I have heard some good things! I was just interested in learning more about other's interactions with OCF. Since I have not heard too much I was just interested to know what happened.
I'd love to catch up any time!
Thanks for replying!
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Tom Ott:
Originally posted by @Engelo Rumora:
Originally posted by @Tom Ott:
Originally posted by @Lara Chinarro:
Anything new?
I have been reading a lot of brilliant reviews of Ohio Cashflow and was very excited to talk to them last week... I like what I heard and read about building a long-term relationship with the investor, with a high-quality product, excellent PM and quality tenants. Sounded perfect.
But did not have a great experience on our conversation. Maybe it was just the sales style, but it felt that they did not need my business and that they would not allow any more questions (and I had a LONG list). Then, I read this thread and think that I just maybe need to talk to someone else?
Or maybe I am getting into Analysis/paralysis. Could that be it?
I do not know much about them. Did they cut you off when asking questions? That seems a bit odd. I would hope anyone in their position would be able to answer all of your questions no matter the length of the list!
Also, you may want to look at:
Hi Tom,
I've seen you "lurking" around the forum quite often and this is the second time you have commented on something regarding Ohio Cashflow related.
I ignored it the first time but since this is under Ohio Cashflow's thread, I had to address it.
Not sure if your comments are honest or you have a hidden agenda.
Feel free to message me if you have any issues regarding my company or me personally.
Thanks and please send me regards to Steven
Hi Engelo,
Sorry for however my comments came off. I was being honest with no hidden agenda. I was mainly just trying to understand what was the situation. I do not know too much about your company, but I have heard some good things! I was just interested in learning more about other's interactions with OCF. Since I have not heard too much I was just interested to know what happened.
I'd love to catch up any time!
Thanks for replying!
Thanks mate,
I appreciate your reply.
I'd be happy to share how we interact with investors anytime.
We are just down the road from you guys so if you're ever in the area, feel free to stop by.
Thanks again and much success
- Washington, DC · Member since 2018 · 35 posts · 11 votes8y
Originally posted by @Tom Ott:
I do not know much about them. Did they cut you off when asking questions? That seems a bit odd. I would hope anyone in their position would be able to answer all of your questions no matter the length of the list!
Hi!
Let me start by saying that in NO WAY there were rude or cut me off. They were polite and very enthusiastic. But I had the impression that, for every question I asked, such as
- Can I see a renovated property?
- Can I send my own inspector?
- Can I see one property being renovated/during renovation?
The answer was basically: we are very good and you need to trust us". And of course, I am hoping they are, but I have not meet them yet, so, "Trust, but verify..."
- Washington, DC · Member since 2018 · 35 posts · 11 votes8y
Originally posted by @Engelo Rumora:
Thanks for your comment.
My apologies if you didn't have a great experience with your first call.
Ohio Cashflow is known for turning down more business than we take on unlike 99% of the other turnkey companies.
Over the years we have received 3,000+ investor application forms and have probably had even more phone calls.
That experience has enabled us to quickly evaluate if someone will be a right fit for our company and vice versa.
Unlike other turnkey companies, we only take on investors that we truly believe that we can assist.
Taking the next step and just "selling you" a product is not how we operate.
To be honest, we actually don't even have a "sales spiel" but rather do our best in talking investors out of buying.
Building a large and successful portfolio takes years and it's a rocky road that in my opinion isn't for everyone.
The investor and the turnkey company must "like" each other and "respect" each other in order for the relationship to be successful long term.
It's like a marriage :)
With all that said, I'd be more than happy to personally speak with you and answer any questions that you might have.
And if nothing else, at least point you in the right direction.
Thanks and don't hesitate to email
Hello Engelo,
Thank you very much for your prompt reply. I apologize if my previous comment was a little too harsh. I know you have an excellent reputation, and I would not want to tarnish it, specially since I have had a very brief contact with your company.
After reading a bunch of posts and reviews about your company, and watching some of your videos and podcast, all excellent, maybe my expectations were too high.
Going to the "marriage" reference, I agree it is a relationship that needs to be built. I really like the looks of your company: the market, the numbers, and your motto of making it work, based on solid trust. However, I am looking now at the stage of seeing the online profile, and there have been cases of people "improving the reality" a little.
With that said, I would be happy to talk to you or any other member of your team again. As I mentioned, Ohio Cashflow is one of our top contenders and would love to know more about your company.
Thanks again!
Lara
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Lara Chinarro:
Originally posted by @Tom Ott:
I do not know much about them. Did they cut you off when asking questions? That seems a bit odd. I would hope anyone in their position would be able to answer all of your questions no matter the length of the list!
Hi!
Let me start by saying that in NO WAY there were rude or cut me off. They were polite and very enthusiastic. But I had the impression that, for every question I asked, such as
- Can I see a renovated property?
- Can I send my own inspector?
- Can I see one property being renovated/during renovation?
The answer was basically: we are very good and you need to trust us". And of course, I am hoping they are, but I have not meet them yet, so, "Trust, but verify..."
Hi Tara,
I did see your other comment below and thought it would be best if I replied here.
I'd also be happy to answer some of your questions
1) Off course you can see a renovated property. Ohio Cashflow does not do property tours and most of our properties are sold in advance of investors coming to town. Some investors will just come to town to meet us and see the renovated property they have bought. The demand we have is very high so every property is pre-sold in advance. We also have hundreds of YouTube video's showcasing our quality of workmanship (It's not as good as Smartands for example. I really admire their product. Hat's off to Tom Ott)
2) We have no problems with you sending out your own inspector on site. We just won't fix every minor fault they find. They sure do find many as they are "Paid to find faults". Most of the time it's a scenario where they take a photo (And mark it with a red box in the actual report) of a quarter sized hole on the siding of the house and make a request like "Structural engineer needed for further inspection" lol. We don't guarantee perfection with our rehabs and only commit to doing the basics. We are also always happy to fix any issues that can affect the sustainability of the property long term. We can refer inspectors that we have worked with in the past that aren't affiliated with our company but we know them to be "firm but fair".
3) You sure can and this will need to be coordinated with our project management as we don't do property tours. We always have many properties in the works that are in various stages of the rehab cycle.
With the above mentioned, I do think that working together won't be as smooth as it should if you decided to work with another company.
I think you ask great questions and they deserve the attention but I also hope that you can understand and respect that our process is very different.
Almost every investors that buys from us will buy in this way:
a) They pay cash
b) They buy site unseen and in advance of rehab being 100% complete
c) They don't visit and have never been to Toledo, met my team or even met me.
d) They rarely do an inspection and if they do, they understand our terms and will only do one after the property is renovated
As you can imagine, we will always lean toward serving investors that allow for a more seamless process (A more seamless process in our eyes)
Many will call our operation "unsophisticated" but even in it's "unsophistication" I think we have done a great job by everyone and that our online reputation speaks for itself
When we make a mistake, its an honest mistake and we happily pay for it.
I believe that there are other turnkey companies that could suit your needs better than we could.
Thanks and much success
- Investor · Toledo, OH · Member since 2015 · 233 posts · 135 votes8y
As a landlord of many properties in Toledo, a local investor who got involved in the lead paint ordinance and became an inspector, I've inspected many of Ohio cashflow and Engelo's properties. I've seen many of his properties before, during and after renovations.
I can testify that his team does a very job renovating even down to the basement level. Keep it up @Engelo Rumora.
Adam Atassi
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Account Closed:
I feel dirty. This thread reminds of a used car salesman pitch, remember Herb Tarlic from WKRP in Cinn.
lol,
Why do you feel dirty mate?
Please share as I'm sure everyone would love to know including myself.
It's unfortunate that you don't know who I am or my company.
There are no pitches here.
Thanks
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Adam A.:
As a landlord of many properties in Toledo, a local investor who got involved in the lead paint ordinance and became an inspector, I've inspected many of Ohio cashflow and Engelo's properties. I've seen many of his properties before, during and after renovations.
I can testify that his team does a very job renovating even down to the basement level. Keep it up @Engelo Rumora.
Adam Atassi
Thanks Adam,
Your words are much appreciated.
- Los Angeles · Member since 2016 · 10 posts · 8 votes8y
I’ve been holding off a posting a review as I wanted to have some to work with OCF before writing anything!
My husband and I purchased two properties from OCF the beginning of February 2018. One of our properties were already tenanted and the other needed to go through renovations before being rented out. My brother and sister-in-law also purchased two properties right before us in January. I would say that overall it has been a great experience and the OCF’s intentions are in the right place.
There are some discrepancies along the way that I feel we have to highlight. I know that OCF prides itself on hands-off investors which we feel like we absolutely would love to be but due to the some of the issues – we have not been able to.
Pros
- We spoke with Isaac during the sales process and he was fantastic in answering questions and giving us the overall picture. He also gave us recommendations for lawyers and CPA’s as needed.
- The entire sales process was easy and quick
- Isaac has always been communicative and let us know that we can reach out to him with any concerns even after contracts were signed
- They are honest in their communication and admit to mistakes if taken place
Cons
- The property management side of the company seems to be a bit overwhelmed. They never reached out to us after we closed. We emailed OCF and were then connected via email but it still took a couple of days after for the PM to respond.
- After that, it took multiple emails to the PM for the owner portal link – turns out they had the incorrect email address in the system so it was not getting to us
- When we connected with the PM on the phone, we asked for an update regarding if she knew when renovations would be completed and an ETA on when the property could become tenanted. It caught us off guard that our PM was not aware of the property needing renovations or that it was not tenanted.
- Along the way, we also realized we never received rent and it turns out the routing number was never set up in the system. Once we brought it to their attention, it was fixed immediately.
- A month after we closed, we found out that renovations have not started and that the OCF team missed a cracked foundation issue. OCF did very graciously share this news and offer to either fix the foundation or for us to pick a new property.
- We chose to have them find us a new property but it is now two months later and there are no updates on a new property and we find ourselves having to reach out for updates.
Overall, I think this company has a great philosophy of servicing the customer such as offering to fix the foundation or allowing us to switch out the property all together – which is huge. In addition, they are paying rent to us for that house so it is cash flowing. As first time customers, it was a little alarming from long response times from the PM, the lack of awareness and just being set up correctly in the system between our email addresses to banking information. The little things along the way are little and were fixed but they also seemed to add up. The big things is that it took a month for them to alert us that renovations never started because the foundation issue was just coming to light. We are also concerned that we have paid for a property that is nowhere near the value in terms of sale price and it has been two months since and no new property in sight. Our other property which was tenanted from the beginning as been pretty much smooth minus the banking information not being set up. I do want to point out that my brother has had a pretty smooth process.
The biggest question is would I recommend OCF? Yes, because I think they have the most important foundation of doing what’s right for the customer. However, be aware the that left and right hand does not always seem to be in communication and you do have to be proactive in reaching out when things are not going correctly. This part was hard for us because OCF is huge on having hands-off investors and communicating that not everyone is the right fit for them. My husband and I have had to constantly second guess ourselves on “are we being too needy or difficult? Are we those investors that no one wants?” After looking at it long and hard, we can say that had we not been the ones to reach out, we’re not sure when issues would have been noticed or fixed.
Please feel free to message me with any questions!
- Los Angeles · Member since 2016 · 10 posts · 8 votes8y
Originally posted by @Tiffany Loi:
I’ve been holding off a posting a review as I wanted to have some to work with OCF before writing anything!
My husband and I purchased two properties from OCF the beginning of February 2018. One of our properties were already tenanted and the other needed to go through renovations before being rented out. My brother and sister-in-law also purchased two properties right before us in January. I would say that overall it has been a great experience and the OCF’s intentions are in the right place.
There are some discrepancies along the way that I feel we have to highlight. I know that OCF prides itself on hands-off investors which we feel like we absolutely would love to be but due to the some of the issues – we have not been able to.
Pros
- We spoke with Isaac during the sales process and he was fantastic in answering questions and giving us the overall picture. He also gave us recommendations for lawyers and CPA’s as needed.
- The entire sales process was easy and quick
- Isaac has always been communicative and let us know that we can reach out to him with any concerns even after contracts were signed
- They are honest in their communication and admit to mistakes if taken place
Cons
- The property management side of the company seems to be a bit overwhelmed. They never reached out to us after we closed. We emailed OCF and were then connected via email but it still took a couple of days after for the PM to respond.
- After that, it took multiple emails to the PM for the owner portal link – turns out they had the incorrect email address in the system so it was not getting to us
- When we connected with the PM on the phone, we asked for an update regarding if she knew when renovations would be completed and an ETA on when the property could become tenanted. It caught us off guard that our PM was not aware of the property needing renovations or that it was not tenanted.
- Along the way, we also realized we never received rent and it turns out the routing number was never set up in the system. Once we brought it to their attention, it was fixed immediately.
- A month after we closed, we found out that renovations have not started and that the OCF team missed a cracked foundation issue. OCF did very graciously share this news and offer to either fix the foundation or for us to pick a new property.
- We chose to have them find us a new property but it is now two months later and there are no updates on a new property and we find ourselves having to reach out for updates.
Overall, I think this company has a great philosophy of servicing the customer such as offering to fix the foundation or allowing us to switch out the property all together – which is huge. In addition, they are paying rent to us for that house so it is cash flowing. As first time customers, it was a little alarming from long response times from the PM, the lack of awareness and just being set up correctly in the system between our email addresses to banking information. The little things along the way are little and were fixed but they also seemed to add up. The big things is that it took a month for them to alert us that renovations never started because the foundation issue was just coming to light. We are also concerned that we have paid for a property that is nowhere near the value in terms of sale price and it has been two months since and no new property in sight. Our other property which was tenanted from the beginning as been pretty much smooth minus the banking information not being set up. I do want to point out that my brother has had a pretty smooth process.
The biggest question is would I recommend OCF? Yes, because I think they have the most important foundation of doing what’s right for the customer. However, be aware the that left and right hand does not always seem to be in communication and you do have to be proactive in reaching out when things are not going correctly. This part was hard for us because OCF is huge on having hands-off investors and communicating that not everyone is the right fit for them. My husband and I have had to constantly second guess ourselves on “are we being too needy or difficult? Are we those investors that no one wants?” After looking at it long and hard, we can say that had we not been the ones to reach out, we’re not sure when issues would have been noticed or fixed.
Please feel free to message me with any questions!
**Update already**
After our latest email to Isaac, we learned that he has been away from the office. Dominque, the co-founder and managing partner responded to our latest email very quickly and has shared that they are looking into their current inventory to present us with another house that would be comparable. Will post again as we get more updates.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Tiffany Loi:
I’ve been holding off a posting a review as I wanted to have some to work with OCF before writing anything!
My husband and I purchased two properties from OCF the beginning of February 2018. One of our properties were already tenanted and the other needed to go through renovations before being rented out. My brother and sister-in-law also purchased two properties right before us in January. I would say that overall it has been a great experience and the OCF’s intentions are in the right place.
There are some discrepancies along the way that I feel we have to highlight. I know that OCF prides itself on hands-off investors which we feel like we absolutely would love to be but due to the some of the issues – we have not been able to.
Pros
- We spoke with Isaac during the sales process and he was fantastic in answering questions and giving us the overall picture. He also gave us recommendations for lawyers and CPA’s as needed.
- The entire sales process was easy and quick
- Isaac has always been communicative and let us know that we can reach out to him with any concerns even after contracts were signed
- They are honest in their communication and admit to mistakes if taken place
Cons
- The property management side of the company seems to be a bit overwhelmed. They never reached out to us after we closed. We emailed OCF and were then connected via email but it still took a couple of days after for the PM to respond.
- After that, it took multiple emails to the PM for the owner portal link – turns out they had the incorrect email address in the system so it was not getting to us
- When we connected with the PM on the phone, we asked for an update regarding if she knew when renovations would be completed and an ETA on when the property could become tenanted. It caught us off guard that our PM was not aware of the property needing renovations or that it was not tenanted.
- Along the way, we also realized we never received rent and it turns out the routing number was never set up in the system. Once we brought it to their attention, it was fixed immediately.
- A month after we closed, we found out that renovations have not started and that the OCF team missed a cracked foundation issue. OCF did very graciously share this news and offer to either fix the foundation or for us to pick a new property.
- We chose to have them find us a new property but it is now two months later and there are no updates on a new property and we find ourselves having to reach out for updates.
Overall, I think this company has a great philosophy of servicing the customer such as offering to fix the foundation or allowing us to switch out the property all together – which is huge. In addition, they are paying rent to us for that house so it is cash flowing. As first time customers, it was a little alarming from long response times from the PM, the lack of awareness and just being set up correctly in the system between our email addresses to banking information. The little things along the way are little and were fixed but they also seemed to add up. The big things is that it took a month for them to alert us that renovations never started because the foundation issue was just coming to light. We are also concerned that we have paid for a property that is nowhere near the value in terms of sale price and it has been two months since and no new property in sight. Our other property which was tenanted from the beginning as been pretty much smooth minus the banking information not being set up. I do want to point out that my brother has had a pretty smooth process.
The biggest question is would I recommend OCF? Yes, because I think they have the most important foundation of doing what’s right for the customer. However, be aware the that left and right hand does not always seem to be in communication and you do have to be proactive in reaching out when things are not going correctly. This part was hard for us because OCF is huge on having hands-off investors and communicating that not everyone is the right fit for them. My husband and I have had to constantly second guess ourselves on “are we being too needy or difficult? Are we those investors that no one wants?” After looking at it long and hard, we can say that had we not been the ones to reach out, we’re not sure when issues would have been noticed or fixed.
Please feel free to message me with any questions!
Hi Tiffany,
Thanks for your kind words and detailed review of Ohio Cashflow.
It’s a pleasure serving your vision and my sincere apologies with the minor issues we are having on one of your properties. I’m glad that we haven’t skipped a beat on your other investment.
Out of hundreds of transactions we do every year, unfortunately sometimes things get overlooked.
As the owner of the company, I take full responsibility for any mistakes made.
As soon as the error was noticed, we immediately notified you and have been looking to rectify the issue ever since.
I can guarantee you that your investment is on our mind as a priority but unfortunately, it falls under the category of “Problematic Deals” on our whiteboard.
Our company isn’t perfect although we always strive to do our best and deliver the best to every investor.
Whenever we make a mistake, it’s an honest mistake and in the end we always come good on our word.
Although we could salvage the property and renovate it competently, I made the decision that we should look for a replacement deal for you and cover your rent until we find another property that is equivalent to the one you purchased.
Just yesterday we discussed a few properties that would not only be comparable but even better then the one we are having issues with now.
Stay tuned as we will be emailing you shortly.
Also, here are my answer below to some of your comments regarding the “con’s” of working with Ohio Cashflow
- Our property management company is definitely overwhelmed as we have doubled business in 2017 and will probably be tripling in 2018. My apologies that we didn’t reach out to you in a suitable enough timeframe.
- We are in the process of transitioning from one property management software to another and have spent many hours training to ensure that we all know how to more efficiently use the platform.
- Property management mostly likely didn’t receive information on your property as it was still in rehab and with project management. I am surprised tho that the person you spoke to didn’t know the situation at hand with your property. Although our property management is a completely different company, we are still under the same roof and our volume is still at a level that allows our entire team to know almost everything related to every property, landlord and tenant. I’ll follow up with the team first thing tomorrow morning.
- My apologies that the routing number was not set up correctly and that this caused an inconvenience.
- I was extremely disappointed to find out about the foundation issues with this property. It’s one of those deals that will take twice as long and be twice as expensive to fix and we decided that it would be best to get you into another property. I’ll just have to keep this one for myself :)
- Unfortunately, we had a tragedy at the office with your point of contact like we indicated via private email so an update was not provided to you in a timely manner.
Our company is still very green and growing and I have always stated that we aren’t the most sophisticated turnkey business in the country. I can tell you this tho, we definitely make up for all of our short comings by having high ethics and genuinely caring for all of our investors. I hope that you have recognized that within our approach. As of recent, I have noticed quite a few investors not being fully satisfied with what in my eyes seem like minor things. Ohio Cashflow will need to tweak it’s messaging so folks better understand that although we endeavor for a full blown “hands off” and “passive income” experience, we will still need to reach out to investors for certain pieces of information. I can 100% guarantee that we turn down more business than we take on and we aren’t afraid of parting ways with unreasonable or demanding investors.
This isn’t our first rodeo with such a property and if you have any doubt at all in our ability, please let us know and we will happily buy back the property for exactly the same amount that you paid.
Summarizing everything, you concerns are valid and we fully appreciate the critique as it make us better.
I’d like to end by saying that you’re in good hands and that we won’t let you down.
Thanks
ps. I’m super glad that your brother has had a smooth ride with Ohio Cashflow
- Los Angeles · Member since 2016 · 10 posts · 8 votes8y
Hi Engelo,
I really appreciate you taking the time to respond! We look forward to working with you on a replacement property.
Tiffany
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Tiffany Loi:
Hi Engelo,
I really appreciate you taking the time to respond! We look forward to working with you on a replacement property.
Tiffany
Hi Tiffany,
No problem at all.
Thanks for your patience
Have a great day
- Los Angeles · Member since 2016 · 10 posts · 8 votes8y
Originally posted by @Engelo Rumora:
Originally posted by @Tiffany Loi:
Hi Engelo,
I really appreciate you taking the time to respond! We look forward to working with you on a replacement property.
Tiffany
Hi Tiffany,
No problem at all.
Thanks for your patience
Have a great day
My apologies in the delay for this review! Engelo reached out with a couple of days of my last post with a new property for us to look at. After reviewing, we did not quite feel as it was the right fit. After sharing our thoughts, Engelo sent us a 2nd property to look at pretty quickly and we decided to move forward with this replacement property. The next steps in paper work were pretty quick and efficient. Ohio Cashflow also graciously took care of all closing costs associated with us "selling back" the property. We are set on our 2nd property and looking forward to our next property with them!
- Rental Property Investor · Wentworth Falls, NSW · Member since 2016 · 20 posts · 24 votes8y
That's great news Tiffany. Thanks for the share.
- 8yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Tiffany Loi:
Originally posted by @Engelo Rumora:
Originally posted by @Tiffany Loi:
Hi Engelo,
I really appreciate you taking the time to respond! We look forward to working with you on a replacement property.
Tiffany
Hi Tiffany,
No problem at all.
Thanks for your patience
Have a great day
My apologies in the delay for this review! Engelo reached out with a couple of days of my last post with a new property for us to look at. After reviewing, we did not quite feel as it was the right fit. After sharing our thoughts, Engelo sent us a 2nd property to look at pretty quickly and we decided to move forward with this replacement property. The next steps in paper work were pretty quick and efficient. Ohio Cashflow also graciously took care of all closing costs associated with us "selling back" the property. We are set on our 2nd property and looking forward to our next property with them!
Thanks Tiffany,
I'm super glad everything worked out.
Have a great day and speak soon
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