All Forum Posts by: Austin Steed

@Matt Engle I can back for Chris as he's done the last two doubles I've purchased in Columbus OH. 

@Oliver Leonetti for a commercial loan I would consider using Jack Cooper at MSF Real Estate Capital. I went to OSU with him and he seems to be doing a great job. I'll pm you his specific contact information. 

Couldn't agree more with @Remington Lyman. 

I'm in contract on an off market double in Southern Orchards for this very reason. 

@Melak Firdo I like this area as it's backed by HNHF.

https://www.nationwidechildrens.org/about-us/population-health-and-wellness/healthy-neighborhoods-healthy-families

Basically a Billion dollar hospital wanted to see an area in their front yard to be revitalized. HNHF is building new builds and doing complete renos to properties. 

As I see might be a good idea to ride that wave..

@NIcholas Hamel

Sell and if you’ve lived there 2/5 years gives you even more reason to sell. Wouldn’t have to worry about capital gains since you’d be making less than 250k.

I've worked with Susan in the past. I can attest, she does good work. 

@Daniel Mendez

Yes I've seen it done both ways. Buy in your name then transfer to LLC. Lenders don't always like that though, since they gave you the money.

If you buy under an LLC it's easier if the LLC is actually a performing business. Meaning the LLC has a business checking account, operating agreement and obviously the EIN number. Might be a little more work to do it this way but there is more protection here. As anyone can look up the transfers of properties on a county auditor site.

Best,

Keep in mind that Galloway has a divide in it. Half goes to South Western Schools and the other half goes to Hilliard, big difference! Best of luck sir. 

@Colin Haag What about your research led you to just Reynoldsburg? There are plenty of B class neighborhoods in Columbus. Westerville, Hilliard (Some A some B), Galloway, Grove City. My suggestion is that you cast a wide net and then you can pick the ones with the best numbers. Happy investing and Go bucks.

Sounds good thanks David. 

@Derrick Locke

Heartland and Fahey are some local banks that take a solid relationship into account for lending. Might be good to start building a connection there

Hi Derrick,

What is your reasoning behind wanting to flip? There's plenty of people that do it but to be honest it's hard to wrap my head around why, right now. 

The BRRR strategy would be similar to a flip but instead you just sit on the cashflows. I would suggest you look into that.

By the time you pay short term capital gains and how the market is do for a correction there seems to be a little bit too much risk for flipping to make sense to me. 

Nonetheless, wish you the best!