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All Forum Posts by: Austin McClain

Austin McClain has started 0 posts and replied 320 times.

Post: Any Columbus, Ohio investors here who can help me understand

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

Welcome to Ohio! There's been a lot going on here lately. 
https://www.governing.com/comm...

I like Linden too, there are strong appreciation and cash flow opportunities there.

Post: Should a newbie avoid repo auctions?

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

^ I agree, always get title insurance for any property you purchase. 

Post: looking for a multiplex in columbus

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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. 

Post: Buying 2 multi family units Akron and Canton

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586
Quote from @Karl Hadland:

Thank you for the replies. I think I can find better places. I cancelled both offers. 524 E buchtel and 2823 Columbus rd ne.

I think better areas and newer homes would make me feel better.


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

Post: What are the best out-of-state market assembly tools?

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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. 

Post: Is there a new rule for buying 2-4 units with FHA?

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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.

Post: Basement Kitchen Addition

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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. 

Post: Is now a good time to buy a multifamily?

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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. 

Post: Airbnb management/software recommendations

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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. 

Post: Section 8 Investing Tips

Austin McClain
Posted
  • Real Estate Agent
  • Ohio
  • Posts 324
  • Votes 586

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.