All Forum Posts by: Austin McClain

On-market deals have been going fast (about 3 days on market). If you going for those, I'd recommend you know the exact numbers you want and jump in as soon as you see it. Having someone on your team that can find off-market deals can help a ton as well. 

 Take a look at Columbus. Homes here are appreciating fast. 

If your goal is cash flow, I'd look in the Midwest where home values are still lower than the national average. Like a few others have mentioned in this thread, Ohio investors have been seeing a lot of success. 

This is the first time I've heard of this. I can refer you to another lender I use who may still do 3-4 units on an FHA.

Have you ever considered looking to invest out of state? You can buy turnkey multi-families for less than in your area and hire a property manager to keep them in good condition. I'm reading David Greenes Long‑Distance Real Estate Investing book that has a lot of tips on this. 

I recommend looking out of state to find markets that are still growing, like Columbus. I'm watching where large companies are moving to. They bring jobs and encourage other companies to do the same. 

Definitely have a great manager in place for any new markets you enter. Having management with boots on the ground is crucial for a property with a high turnover rate. 

I recommend networking to get a team in Ohio that has done Section 8 deals before. Having someone who is in Ohio and has done this with other out-of-state investors will take the guesswork out of it for you. 

For me, it depends on the market you're in. If you're in a market that is appreciating quickly, take the shorter lease to have the flexibility to raise rents next year. If it's a pretty stable market, then I'd take the 3-year lease to avoid any vacancy. 

Columbus is a market that is appreciating fast. Businesses/jobs are growing and tech companies like Intel have been investing billions here to take advantage of the talent from Universities and low cost of living.