All Forum Posts by: Cody Z.

@Christopher Lewis

I think you can turn that Lemon advice into Lemonade!

The advice to get a secure job doesn't mean you are NOT an entrepreneur if you chose to get a secured job!

Getting a Secured job increases our chance of being a Successful Entrepreneur!

That's exactly what I did 21 years ago!

I graduated College, started working in my profession, took the income and used it as seed money for Real Estate Investments.

Without the secured job, I could not have gotten loans or attracted Partners to expand as much as I have done.

After 6 years of working my secured job very hard, I eventually moved my salary up from an entry level of $32k per year to over $150k per year by 2004, investing all the time, and quit my secured job because I was financially free at that time.

HOWEVER, I have taken the skills of my profession, which is Software Development, and have been building a Software business with a Partner in the field.

Being Financially independent gives you the ability to be a better entrepreneur because you don't have to dependent on a job for our next meal! You will be amazed how great that feels and you can really build a business if you so choose.

The Advice to get a secured job is GREAT advice and I fully recommend it, especially if you already are established in your profession (for example, a Doctor). Why throw away all of that advantage of getting seed money which will eventually speed up your way to being an Entrepreneur?

LLew

Definilty, make sure you have some solid comps when you buy. I prefer areas that single family homes sell more than $100 a foot because that helps your equity. Higher ARVs give you bigger budgets. I wouldn't buy a 1900 home that only has an ARV of 150k because it'll be super tight. 43211 is more cash flow, the others are good for BRRRR. these are all close to the urban core and there are tons of projects in these areas of columbus

 In case anyone is wondering what @Robert Ellis Columbus ZIP suggestions look like visually

Hey Cody, I am from Columbus, OH. A few HML's you can reach out to are: CF Bank, Ultimate Rate Mortgage, Phoenix Loans (also a great PM), Fund That Flip and North Coast. The BRRRR strategy works well in this market for both of those asset classes, and is gaining popularity.

I know of 3 high quality investor-focused agents I could talk to you about/refer you to, who have investments of their own. I will say quality contractors (in the last 2-3 years) in central Ohio have been difficult to find & employ. However, the seasoned investors with stable business systems and proven success in this region, know high quality GCs, who then know other top-notch GCs. Reach out and let's chat!

Cody,

I'd highly encourage you to talk with Jeff Wallenius of North Peak Investments.  Honest, reliable and professional.  Offers full turn-key solutions as well as a variety of financing options.  Really encourage you to do your due diligence on anyone you talk to as we've had a few bad experiences here.   Jeff's been featured on Bigger Pockets podcasts (#241) and has invested extensively in the Indianapolis market.   

http://www.northpeakinvest.com/about-us/

Good luck!