All Forum Posts by: Clay Boykin

@Yumiko A. Yes it is true that most properties need to be run-down to use the BRRRR strategy, but it is not necessary. Simple updates done to the home like new floors, simple exteriors touch ups. As long as your financing is in order, there shouldn't be any issues with the tactic. At the end of the day, BRRRR is all financial. Your owning an asset with acquired equity. Very simple.

@Cody McVay It just depends on the flip. I feel like your numbers could exclude unexpected expenses that ALWAYS come up in a rehab. As @Justin Garland said, $100 sq ft would be enough to cover all your unexpected expenses, as well as the full gut/flip. Just do your research man and network! Networking is huge in this industry. Feel free to reach out to me for any more questions. Either way, Happy Investing!

@Teodoro Vecchio Hey Teo. House hacking is a great source of income at first especially for acquiring equity to later purchase a flip/new investment. Columbus is filled with a plethora of Duplex's, Triples, Townhomes, Condos, etc. There is plenty of off market deals out there that can be good for buying and holding as well. I would recommend trying to stay around the 100$/200$ profit margin per door. The west side of Columbus (Franklinton, Hilltop, Dublin, etc) has some of the fastest growing markets in CBUS right now. All in all, house hacking is the golden footstep when it comes to getting into flips/investing in off market deals. If you have any questions moving forward, reach out to me. Either way, Happy Investing!

@Scott Herb What a deal! Keep going man, keep those flips active. Compared to most flips, this seems like a smooth process. Some contractors are a pain to deal with when deciding what to add/update/etc. Either way. What a deal! Happy Investing!

@Chris Niemeyer This is very similar in the Columbus market. The ARV for a BRRRR is staying around 70% which is pretty solid. Cash buyers are capitalizing heavily on their income these past few years. Being in wholesale real estate, I see plenty of this. People want to either house-hack, BRRRR, or just a quick flip. As you, I personally use hard money lenders as well. The rates are clearly better and using little cash as possible to maintain that ARV is definitely necessary. I have ran into lenders that actually fund up to 95% of the purchase price, enabling the buyer to maximize their cash on cash return. This is one of the best processes right now when it comes to flipping and it's only going to get smoother. Feel free to reach out to me to talk real estate! Either way, Have a good day!

@Mike Pauze It all depends on what kind of financing you're doing. I mostly deal with cash/hard money/private lenders/etc. The rates are pretty decent if your going for a flip or finding and investment property. Columbus really has it all when it comes to investing in any type of real estate. It all just depends on what your end goal is. Feel free to reach out to me. Either way, Happy Investing!

@Isaac Hayes This is a great goal. Honestly, the best that their is in this business. I would recommend putting your retirement funds to use. That way your Capital Gains tax is all figured out. I've ran into some people that take their 401k and put it towards investment properties through syndication. I usually base my goals 5 years out. Everyone's different with different perspectives, which makes it difficult to base someone else's goal as reasonable. Definitely consider investing in some flips, Airbnb's, etc. in Columbus. The returns are very reasonable. Feel free to reach out to me. Other than that, Happy Investing!

@Tyler Bolton These are all great market choices, but it all comes down to what your investment strategy is and how much you want to invest. The BRRRR strategy, fix and flips, etc. are all common in these areas. Columbus always has something to offer. Whether it's Whitehall, Gahanna, Hilltop, Linden, etc. there is always a promising flip. Columbus is also on track to grow another million in population in the coming 7 years. My best suggestion to any out of state investors, is just to do your homework. Feel free to ask any questions and I will answer with my best knowledge. Either way, Happy Investing!

@Tonye Jack Ohio has its up and downs (more ups than downs actually). Columbus is actually in the top 20% in regards to the population & real estate growth. Depending on your investment strategy, whether it's a BRRRR, Fix&flip, live&flip, house hacking, etc. Columbus has it. It seems to be that most investors are using either the BRRRR method or house hacking. The average ARV for Columbus is maintaining around 70%, which is fantastic for returning investors. I would say if you want to enter into a solid market, with around 50-100k, this is the market to start in. At the end of the day, it all depends on what your strategy is. I would suggest starting with educating yourself as much as you can before you enter into a flip. Feel free to reach out to me as much as you want. Either way, Happy Investing!

@Hannah Paitchel I highly suggest the Columbus market, not just because that's the market I am in but because of the value it has acquired. If you are looking to capitalize on your investment either long term or short term/quick fix & flip, then this is the market to do so. There are submarkets in the area that offers great appreciation and ROI based on a 150k investment such as Whitehall, Westgate, or even Clintonville. I would definitely take these areas into consideration. Most of your best deals for this type of investment will mostly come from off market opportunities. I would also try to network as much as possible and acquire as much info as possible before you enter into the investment (even though your first investment property will teach you so much). Feel free to reach out to me for any further questions/concerns. Other than that, Happy Investing!