All Forum Posts by: Austin McClain

Looking forward to it! 

You should look into hard money lending as an option too. That would be easier than sourcing 5x private investors. 

Good luck! Be sure to set up a team (specifically a good property manager) in the market you move into. 

Switch to a new PM. I can send a list of some I know in Dayton 

I look for good reviews from owners, and someone with systems in place. In my experience, a PM that has multiple hours for phone calls with you is a red flag. A good PM should have hundreds of doors without that much capacity for phone calls with every owner. Instead, they have great systems to make the management processes automatic. 

I'll shoot a list over 

How big is the scale? I wouldn't be too concerned if it's just a side hustle and the tenant pays the utilities. I wouldn't address it unless the scale is massive and hurting the kitchen. The turnover/vacancy cost of getting a new tenant doesn't seem worth it. 

I do both long term rentals and flips. 

The flips aren't very passive, so if you go that route, you'll have to be prepared to have more work on top of your current W2. That can be a challenge long term as you scale. It can be a good segue if you want to leave the W2. If you like the W2, it will be a high amount of work. 

For your first investment, I would go turn key first. Managing contractors out of state, especially if you don't have construction experience, is risky.

Once you build a team you trust in a market, then strat to take higher risks 

Columbus has a high expected appreciation rate. The population is growing faster than the supply of housing in the area. The cash on cash returns are ok, but not great. They are higher in less expensive markets like Dayton and Cleveland.