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
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Chris C.:
I've been a client of OCF for the past 2.5 years and actually met Engelo when he happened to be in town a while back. I've worked with / met with other turnkey operators and OCF is certainly at or near the top when it comes to the total package (available houses, prices, customer service, etc.).....the PM side seems to be very efficient and great at responding to any questions (love the text feature as well)!
Hi Chris,
Your kind words are much appreciated and they make our day (@Dominique Osborn)
Especially coming from someone like yourself that has been a long term investor with us and that is also invested in other markets.
Thanks and we are happy to continue serving your vision.
ps. I'll be sending you an email shortly with a multifamily deal that you might like.
- Real Estate Investor · Kansas City, KS · Member since 2013 · 35 posts · 44 votes7y
Originally posted by @Chris C.:
I've been a client of OCF for the past 2.5 years and actually met Engelo when he happened to be in town a while back. I've worked with / met with other turnkey operators and OCF is certainly at or near the top when it comes to the total package (available houses, prices, customer service, etc.).....the PM side seems to be very efficient and great at responding to any questions (love the text feature as well)!
Chris, thanks for your trust and belief in the team at Ohio Cashflow over the last 3 yrs or so :) It's been a pleasure serving your vision and helping you to reach your goals. I will also send your praise over to the ladies in our Property Management division!
- Investor · Parrish, FL · Member since 2014 · 120 posts · 115 votes7y
@Engelo Rumora
Are these properties in an area that is highly occupied by renters, or are they mixed into neighborhoods that have owner occupied owners as well?
I ask because when it comes time to sell, I like having the option to sell to both investors and the retail market.
Do you have numbers/percentages of what a breakdown of owner occupied vs rental houses in a neighborhood or zip code that you service?
- 7yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Just wanted to jump in here.
@Greg Junge I believe every market will have those areas.. so you have to be specific in your criteria right out of the gate.. Properties that can retail in most mid west rust belt markets will not have the same price to rent ratio. So Investor many times just gravitate to what looks best vis a vi COC return instead of IRR. ( which is what most west coast investors look for)
That all said I look at business just like my bank looks at me the THREE C's Character Capacity and Credit.
And Having known Engelo from basically the first day he walked off the boat from Ozzie land I am happy to report that i believe he has all 3.. His Character he has had all along.. His Capacity has grown becasue of his Character .. and now that he has a very well run functioning company he has the Credit available to him to be sustainable long term.
And its a team effort @Dominique Osborn Dominique is super sharp so you have two people with vested interest in your success and future success.
I do no current business with this company.. But I have supported him in the past in his growth phase.
- Investor · Parrish, FL · Member since 2014 · 120 posts · 115 votes7y
@Jay Hinrichs Thanks, always appreciate your input and wisdom!
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Greg Junge:
@Engelo Rumora
Are these properties in an area that is highly occupied by renters, or are they mixed into neighborhoods that have owner occupied owners as well?
I ask because when it comes time to sell, I like having the option to sell to both investors and the retail market.
Do you have numbers/percentages of what a breakdown of owner occupied vs rental houses in a neighborhood or zip code that you service?
Hi Greg,
Thanks for your comment.
I'm glad that you asked lol
The beautiful thing about the pockets we sell in is that there is a mix of owner occupiers and tenants (Investor owned properties).
I'd say that it's 50/50 owner occupied and investor owned.
Our #1 "pick up" line that we tell investors is that "Our entire staff, including the Dingo himself live in the same area's that we sell in"
"So you''re tenants are our neighbors"
If you ask me mate, that's pretty un-heard of for any turnkey providers to be living in the same areas they sell.
Now, Toledo isn't Beverly Hills by any means.
It's a blue collar working class town with blue collar working class residents.
Decent people that are hard pressed for money but they do their best to pay the rent.
Not too much turnover and only a hand full of scenario's over the last 5 years where a property was damaged more than just a basic turn.
There are many exit strategies in my opinion.
The biggest being that I predict that eventually all of our tenants will want to buy and own again (Just like many did prior to the GFC).
Why? Simple numbers.
Why pay $600 - $800 per month in rent when you can get a 30 year mortgage and pay much less to own.
It's the American Dream to own a home, right?
Thanks and I hope you found my reply useful.
Much success
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Jay Hinrichs:
Just wanted to jump in here.
@Greg Junge I believe every market will have those areas.. so you have to be specific in your criteria right out of the gate.. Properties that can retail in most mid west rust belt markets will not have the same price to rent ratio. So Investor many times just gravitate to what looks best vis a vi COC return instead of IRR. ( which is what most west coast investors look for)
That all said I look at business just like my bank looks at me the THREE C's Character Capacity and Credit.
And Having known Engelo from basically the first day he walked off the boat from Ozzie land I am happy to report that i believe he has all 3.. His Character he has had all along.. His Capacity has grown becasue of his Character .. and now that he has a very well run functioning company he has the Credit available to him to be sustainable long term.
And its a team effort @Dominique Osborn Dominique is super sharp so you have two people with vested interest in your success and future success.
I do no current business with this company.. But I have supported him in the past in his growth phase.
As always Jay, thanks for your kind words and guidance over years.
You helped us start this amazing journey we are on and we probably wouldn't have gotten to where we are today if we didn't partner with you.
I feel old mate lol
I believe that we first connected on the PropertyInvesting.com.au forum in 2010 or so (Almost 10 years ago)
Time flies.
Dominique is the "unsung hero" in the business working tirelessly behind the scenes for many years now.
She deserves the most praise and so does our awesome team.
It's been a rocky road finding the right people to support the vision but we now have some amazingly loyal and hardworking folks on board.
Speak soon
- Seattle, WA · Member since 2016 · 11 posts · 11 votes7y
I have bought two houses with Ohio Cashflow over two years and so far the customer service has been impeccable! Engelo Rumora is great to work with and his team always replies to my emails. I just hope that they will continue to keep up the great work and also experience more success down the road.
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @ChokSheak Lau:
I have bought two houses with Ohio Cashflow over two years and so far the customer service has been impeccable! Engelo Rumora is great to work with and his team always replies to my emails. I just hope that they will continue to keep up the great work and also experience more success down the road.
Hi Chok,
Thanks for being so kind with your review of Ohio Cashflow.
You're a true gentleman even tho things haven't gone as planned.
You have my respect mate (Unlike some other investors that want to reveal dirty laundry in a public forum just to "hold us hostage" per se. Thing is mate, I never take any prisoners and that's always been my style... lol)
I'm happy to own up to our shortfalls tho just like I will with you now.
I want to admit that I believe we could have done better with one of your properties and I'm sorry that it hasn't performed as expected.
At Ohio Cashflow we like to limit how much business we do so we can offer a service that is by far better than anyone else in the industry.
Less volume/sales = More time spent on attention to detail and client satisfaction.
We truly only work with 10-20% of all investors that inquire.
We would rather be a "small and great" company then a "big and average" one.
With that said, it's still beyond me why one of your properties took 6 months to rent (Sure, we covered the rent but that's not the point).
There was nothing wrong with the property (It's located in our bread and butter zip code) and I walked it myself numerous times because it was always on our mind.
I guess it was just one of those unpredictable things that sometimes happen in real estate for no particular reason.
I'm glad that we have had a tenant there for a while now that seems to be paying on time.
Thanks again for your trust and belief in us and don't hesitate to reach out anytime.
- Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes7y
Just curious what r the economic drivers in toledo. Is it gaining or losing population.
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Account Closed:
Just curious what r the economic drivers in toledo. Is it gaining or losing population.
Hi Michael,
Thanks for your comment.
I see Toledo as quite a diverse city when it comes to employment.
From white collar medical to blue collar steal, glass and manufacturing.
I'm sure that you can look things up online further and find out all of the stats/demographics about the employment and population, etc...
In my opinion it's very easy for someone like myself to paint a pretty picture about the Toledo market and to "smudge" your eyes with booming figures.
Something that I don't practice because every market has it's pro's and con's.
I will say this though just like I've mentioned to many other investors over the years.
Focus on finding the right people first before focusing on the stats/demographics of a particular market.
When you work with experienced investors (As in you have "boots on the ground"), they are going to be the ones that will know the micro economics of specific cities or even regions.
So, the broad market stats that you can find online will differ to what people on the ground know to be true.
Just my 0.02 Aussie cents lol
Thanks again mate and I wish you much success
- Roseville, CA · Member since 2018 · 9 posts · 9 votes7y
Hi,
I am just about to close on my second property with OCF. My first property was already tenanted, so the transition went very smoothly. I recently had an issue with the neighbor; however, Engelo and his team was able to help resolve the issue without much headache. I am super excited about our second investment property and look forward to a long-lasting relationship with OCF.
For anyone that has not dealt with Engelo and his team, one of my favorite things about them is that they are GREAT communicators, I'm not sure if they ever sleep. Sometimes I get replies back in a few hour, not a few days. I truly appreciate the attentiveness they provide and their world-class service.
Dan
- Real Estate Investor · Kansas City, KS · Member since 2013 · 35 posts · 44 votes7y
@Dan Chern It's great to hear you're happy with our team at Ohio Cashflow thus far-- we are looking forward to working with you for many years to come and continue helping you meet your goals in real estate and passive income! Issues will always arise in real estate--it just comes down to the team you have on-ground and good communication that will either make or break any investment. Glad to see our team has nailed it in these two aspects for you :)
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Dan Chern:
Hi,
I am just about to close on my second property with OCF. My first property was already tenanted, so the transition went very smoothly. I recently had an issue with the neighbor; however, Engelo and his team was able to help resolve the issue without much headache. I am super excited about our second investment property and look forward to a long-lasting relationship with OCF.
For anyone that has not dealt with Engelo and his team, one of my favorite things about them is that they are GREAT communicators, I'm not sure if they ever sleep. Sometimes I get replies back in a few hour, not a few days. I truly appreciate the attentiveness they provide and their world-class service.
Dan
Hi Dan,
Thanks for your review and kind words mate.
Arghhh, the good old neighbor.
Some folks get their "panties in a tangle" for no reason.
Glad you got the duplex mate, it's a great deal.
Let's stay in touch.
Speak soon.
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Dominique Osborn:
@Dan Chern It's great to hear you're happy with our team at Ohio Cashflow thus far-- we are looking forward to working with you for many years to come and continue helping you meet your goals in real estate and passive income! Issues will always arise in real estate--it just comes down to the team you have on-ground and good communication that will either make or break any investment. Glad to see our team has nailed it in these two aspects for you :)
Dom,
Stop stealing my thunder please.
Plus, you don't even have a "Pro" account yet.
So for all we know, you just might be a fake profile person posting as a "Dominique" haha
Thanks x
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
*** RANT ALERT ***
G'Day everyone,
Since this thread has garnered a lot of comments and attention from investors looking to invest with our company, I thought I should compose a post and set the tone on a few things that have been really pissing me off.
Over the last 5 years I have witnessed countless investors buy just ONE property from our company (Or other companies) and then complain about not being rich or achieving financial freedom.
Seriously???
If your investing with a company that practices witchcraft, maybe they can then turn that one property into 17 by cooking frogs.
I'm sorry guys but in the normal world you will have to buy multiple properties in order to realize the true cashflow potential.
That's just how successful real estate investing works and all good things take time.
Also, another thing to make mention of is that we or anyone else for that fact can't control the leverage that you decide to take out when refinancing or using a HELOC to buy in the first place.
So if you over leverage or your loan terms aren't favorable.
Start with the Man In The Mirror as Jacko would say lol
In the hundreds of videos and blogs that I've done over the years, I have stressed things like:
- Only invest with cash, not LEVERAGE.
- Only invest what you can comfortably afford to lose.
- Safety comes in numbers so you have to buy more than just ONE property.
- ALWAYS underestimate your income and overestimate your expenses.
That being said and for everyone reading that might be interested in working with us.
We are no longer willing to work with investors that are looking to purchase just ONE property.
Why?
Because we can't help you.
You need to have a long term and growth type mindset to succeed in real estate.
You need to put yourself in a position where you can buy multiple properties every year and across various markets
"But how can I put myself in a position to do that Engelo?"
By working hard and smart mate...
All I'm saying is that we can't help anyone that can't help themselves.
Nothing comes easy in life and neither does building a large/sustainable real estate portfolio.
Make sense?
I hope it does.
Keep the dream alive and feel free to message me with any questions.
I'm happy to help.
Yours truly,
Dingo
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
G'Day everyone,
I connect with a ton of you every day and all of you have a ton of questions lol
One of my favorites is, "If I invest with you and you decide to pack up and leave to Australia, then what?
My answer always is: "You're Screwed, haha, unless you pack up and move with me."
I'm humbled that you guys think that I do it all by myself. Super Dingo, lol. The truth is though, that I do less work than the many unsung heroes working hard from behind the scenes.
Here is the true Ohio Cashflow hero that doesn't wear a cape:
Drum roll please...
Maybe you know her and maybe you don't.
Well now you do.
She is the chassis, the wheels, the engine of our vehicle.
I'm just the body (With a tonne of dents hehe)
We started the company side by side in a crappy little shared office while eating table spoons of peanut butter for breakfast and drinking $1 gas station coffees just to survive.
And hear we are today.
A 2 time Inc 5000 company.
Then, of course, there are other folks that I'm grateful for that look after our marketing, sales, acquisitions, rehabs, maintenance and so forth. You're in very good hands mates, even if I got hit by a bus (One investor actually asked this question when visiting our office. He was so serious that I started believing that he really wanted me to get hit by a bus lol)
Anyway, before I go any further and give amo to the moderators to remove this post for "self promotion".
Let me dive into some value that is not in anyway related to our company (Even tho this is a thread about our company that wasn't started by us. Just as an FYI Mr/Mrs Moderator lol)
When investing in turnkey properties or even if you are buying distressed, fixing up and holding.
The most vital part to your ongoing success is going to be property management. Period.
Anyone can find and fix and even sell you a house these days.
Not many can manage them well and honestly.
So for all of you worrying about me or any other leader in the turnkey industry getting hit by a bus.
It doesn't really matter if we do as long as there is a solid property management team in place with professional staff that can continue looking after your investments.
The biggest and best turnkey companies in the country (We are still a tiny fish and no where near as sophisticated as some) have full blown departments with leadership roles and detailed processes, systems and manuals that probably work better when the founders and owners don't even get involved.
This is something that we are striving for also.
So for the time being, you will still see me poking my Dingo nose in everyone's business.
I'll leave you with this:
Have no fear, because my team is here. Even if the Dingo is drinking beer in Aus-tra-lia...
Don't forget, it's all about the property management.
Thanks for reading and I hope you don't wish I get hit by a bus.
- Doral, FL · Member since 2017 · 1 post · 2 votes7y
I had come across OH Cashflow 2+ years ago, and I have to say that they are the best in the Toledo OH turnkey property segment. Definitely, a leg up against the competition, from Lonna, to Skye, and the rest of the team. J
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Jav Pineyro:
I had come across OH Cashflow 2+ years ago, and I have to say that they are the best in the Toledo OH turnkey property segment. Definitely, a leg up against the competition, from Lonna, to Skye, and the rest of the team. J
Thanks so much Jav,
We really appreciate your praise.
I'll pass on the message to the team.
Thanks again and much success
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
G'Day everyone,
Many of you have a lot of questions about our market, company and properties.
One thing that I absolutely hate are questions lol
So I thought I should put an FAQ list together so you don't bother me anymore :)
Our market and company aren't for everyone.
And neither is investing in turnkey.
Check out the below links to fund out why.
Enjoy
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
*** IMPORTANT ANNOUNCMENT ***
G'Day my mates,
I've waited so long for this day and now it's almost here.
Over the last three years, we have received 1,046 investor applications (Thanks to all of you for your interest in working with us).
Out of that number we have sold to only 140 investors.
Most of you know how rigorous our investor criteria is.
We like to do things on our terms and I guess when you have one of the best reputations in the business like Ohio Cashflow does, you get to make those rules.
Our company and approach isn't for everyone like I've mentioned so many times before.
One of our main rules is that we are known for turning down more business than we take on.
Why do we do this?
Well, it's quite simple.
- If you think you know it all, you should probably do it all yourself (As in don't even consider buying turnkey)
- If you don't trust us, we don't want you to invest with us (We can't help those that don't trust us)
Those are the two main reasons why we had to say, "No" to so many of you (I'm sorry)
Another biggy is that we only work with CASH BUYERS.
With all that said, I'm writing to you today to let you know that our investor evaluation criteria will become even more stringent than it is now in the very near future.
Things like a "non-refundable deposit" and a "minimum amount of available capital" will be the new norm when we consider who to work with.
You see mates, unlike the many other companies that parade their flag and say, "We sell thousands of properties to hundreds of investors", we like to say, "Unless we feel that we can truly help you, we don't want to work with you."So our doors remain freely open to only a handful more investors.
After that, buying a property from us will be like trying to get a bottle of Evian water in the Sahara Desert, lol.
I'm looking forward to only working with our existing investor base and helping them grow their current portfolios.
I've always believed in creating a company that is "small and great" instead of being "big and good."
By doing this now and limiting how much business we take on is how we are going to accomplish our goal.
Your time is ticking so if you've wanted to work with us, but haven't pulled the trigger yet, here is one of your last chances.
Thanks much
Kind regards from your favorite Aussie,
Engelo
- Member since 2018 · 68 posts · 28 votes7y
Wow. I just spent the entire day as soon as I woke up at 8am till now (12:45am) inhaling everything I could find about TK investing. I know that in the bigger scheme of things, that's not a lot of studying/researching but I did learn a lot today and looking forward to learn even more. I read through this entire thread, all 7 pages of it, along with any links that were attached. The one thing that stood out to me the most was how all communication done by @Engelo Rumora was detailed, but straight to the point and how he always listened and tried to understand any concerns/issues that were brought up and was quick in doing his best to make things right. And a lot of his replies were funny too which helped me stay awake as my eyes are now exhausted from reading all day. Currently selling one of our investment properties and will have cash on hand to invest and very interested in TK properties. Looks like OCF are turning more people down but would love to have an opportunity to connect and see if this can be a great long term relationship! Will fill out the inquiry form on your website tomorrow. :)
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Kat Hughes:
Wow. I just spent the entire day as soon as I woke up at 8am till now (12:45am) inhaling everything I could find about TK investing. I know that in the bigger scheme of things, that's not a lot of studying/researching but I did learn a lot today and looking forward to learn even more. I read through this entire thread, all 7 pages of it, along with any links that were attached. The one thing that stood out to me the most was how all communication done by @Engelo Rumora was detailed, but straight to the point and how he always listened and tried to understand any concerns/issues that were brought up and was quick in doing his best to make things right. And a lot of his replies were funny too which helped me stay awake as my eyes are now exhausted from reading all day. Currently selling one of our investment properties and will have cash on hand to invest and very interested in TK properties. Looks like OCF are turning more people down but would love to have an opportunity to connect and see if this can be a great long term relationship! Will fill out the inquiry form on your website tomorrow. :)
Hi Kat,
I am humbled that you took so much time to read through this entire thread.
I also suggest that you spend even more time doing due diligence on turnkey investing, our market here in Toledo, our properties and our company.
We never put any pressure on anyone to purchase as I'm a big believer in that investors need to know WHAT THEY WANT.
Myself or anyone at Ohio Cashflow for that fact shouldn't tell you WHAT YOU WANT lol
You need to figure that out yourself.
We love working with folks that are confident and comfortable in their decision making and in taking the next steps with us.
Our properties, market and company aren't for everyone and we get that.
So we truly want all of you to spend enough time doing due diligence before you reach out and take the next step :)
My message goes for everyone else reading this.
Even with our very rigorous investor evaluation process, over the past few months we have had many unsophisticated investors dealing in an unprofessional way by backing out of deals last second.
This is very non-genuine way of doing business and something that I have never done and would never do myself.
Due to this happening, it has reluctantly made us become even more stringent with our on-boarding process.
Thanks for your interest Kat and we are looking forward to being of service.
- Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes7y
Anyone who backs out of the deal last second should be forced to eat vegemite
- 7yEngelo RumoraBusiness MemberInvestor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
Originally posted by @Account Closed:
Anyone who backs out of the deal last second should be forced to eat vegemite
lol
I love Vegemite haha
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