All Forum Posts by: Ashley Cross

I've completed a couple of BRRRs and renovating two more currently. Columbus is a great market and still has a lot of room for a lot more appreciation. 

I'm seeing high 7s and low 8s for rates but I'm still buying. If the numbers make sense I'm buying. Columbus is red hot.

Agreed @Michael K Gallagher I have plenty of off market deals that come across my desk but my realtor also knows if I put an offer on a property I'm going to close without any issues and we've done deals together before. You also have to ensure your realtor is plugged in. If they aren't hustling to build relationships they may not have the deals being presented to them. 

My team lends in Cleveland, Ohio. We'll go down to a $30k loan amount. The best way to do it is work with a conventional lender that does a lot of business in Cleveland. Some lenders won't bother because of the lower loan amount.

I've done this in Columbus, Ohio and have had great success. I would definitely recommend @Remington Lyman as an agent. He knows A LOT about the city and he's an excellent agent. He'll help you find all the other people you need. As far as lenders, it depends on how you plan to finance the property. (Private money, Hard Money, Conventional, etc) I suggest you work with a lender with a lot of experience working with out of state investors with your goals.

A lot of my clients have started like this in Columbus and have had great success. You should start working on it asap. I'd be happy to chat more about getting pre-approved. 

We’re having a meet up at my office next Wednesday the 27th at 7pm. We’re located at 1147 N High St Columbus. Feel free to PM me if you’d like more info. 

This is a problem with a lot of real estate investors. With conventional financing, all the tax benefits you receive becomes a punishment. I've turned to DSCR loans and now with conventional rates being so high it's not much of a difference. You will have to pay more in fees but it gets the deal done. Just make sure you speak to a great lender where you intend to invest. I'm a lender in Columbus, Ohio and I also invest in Delaware. I've seen a lot of success with DSCR loans personally and professionally.

@Remington Lyman What everyone else stated is correct. Our c/o refi max LTV is 75% for DSCR loans. And it won't be interest only.

I agree with @Andrew Postell. I had a similar situation with a conventional buyer attempting to purchase an investment property and it could not be done. The contract had to have the current owner. We tried to do a bunch of workarounds like having the wholesaler close then we close later that day with our borrower but the wholesaler didn't have the funds and the title company couldn't turn the transactions quick enough.