All Forum Posts by: Austin Steed

@David Song What is your opinion of the interest rates right now?

With interest rates being so low I  personally am trying to leverage myself out as much as possible. Since 1971 the average rates were never below 5% until 2010. According to ( https://www.valuepenguin.com/mortgages/historical-mortgage-rates#nogo )That's almost 40 years. Now the market is so strong that the Fed is pursuing contractionary policy and seeking to raise rates, which I think is fair. @Account Closed interest rates is one of the things that I think makes buying a property still make sense. In Columbus OH some buyers I work with get turned off by the competition of the sellers market here. It just takes a little bit more patience with finding a deal but if you can lock in that 30 year loan, do it while rates are below that 5% mark. 

in 2015 I locked in a 3.5% rate on a VA loan in CA, moved out and now it's a rental. I get lenders calling me all the time trying to refinance. First thing I always say is, "can you beat 3.5"? The answer is always no.

Yes I agree with BJ. Things seem to build off of each other here in Columbus. You go to one investment group meet people and then they go to different groups, so on and so on. 

Eventually you'll hear the same names again and again. 

Happy investing!

Welcome to BP! Columbus is a great city and has tons of potential for RE investing. 

I’ve got one, does portfolio loans on investment properties too. Let me know if you still need contact info.

I am a local Realtor in Columbus OH. I have been able to help out many investors buy properties here where the numbers are very attractive. Meanwhile I have got to learn the market more and more. Win win to me.

I have experienced the process of going from a W-2 military employee to a 1099 Realtor. While receiving a W-2 the loan process was a cake walk. I purchased a SFH in CA under a VA loan, have rented it out for 3 years and very glad I did it. Now with me receiving a 1099 it's not as easy.

I have searched many many lenders, called Hard money lenders, and etc. I am looking to pursue buy holds not so much flips. Thus ARV doesn't help too much.

All that said brings me to my point.. My dream has come true! I have been refereed to a local based community lender that will take RELATIONSHIPS into the picture. I am itching to buy my next property and have set up a meeting to get that elusive loan. 

My question for you all, what are some of the best points to make when it comes to a relationship based lender? What has worked in the past for you? Are they looking for numbers or just a firm handshake? Anything specific to mention sense I am looking for buy and holds? 

I’ve got one that I’ve referred to clients in the past. He’s done a great job in the past.

Hilltop, you can see some good returns as well. Just like any area the microeconomic conditions have an impact on rent rates, vacancy etc. I work with a few investors looking in that area and am really enjoying learning it street by street. May be worth taking a look there too!

Hi Lalita, That’s awesome your coming to Columbus. It really is a great city. All of the things you’ve asked for I can give you a few local companies too. I hope you enjoy the city!

Wallace Ackley Company “

Wallace ankley company. They manage 2600 units one of my friend uses them. I have never used them, do due diligence of course.