All Forum Posts by: Engelo Rumora
Engelo Rumora has started 181 posts and replied 4405 times.
Post: Lets hit the ground running
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Moe Sidd:
Quote from @Engelo Rumora:
Quote from @Moe Sidd:
Quote from @Engelo Rumora:
Quote from @Moe Sidd:
That’s awesome, I love seeing couples build together like that. Flipping and holding multis can be a strong combo for both cash flow and long-term wealth, definitely a solid strategy there.
I’m based in Dallas but invest in markets like Toledo and Detroit, where entry prices are lower and returns are strong. I'm talking around the 100k range and nearly hitting the 1% rule. If you ever consider expanding beyond Connecticut or want to see what those markets look like, happy to share what’s worked for me and other investors there.
Same here Moe,
Been based in Dallas the last 2 years but have done hundreds of deals in Toledo since 2014. Moving back early next year for a few years before I fully retire haha
Let's catch up 🤓
@Engelo Rumora, funny enough, I'm re-reading your book for the 2nd time currently. This time, I'm actually going to follow through with the advice, haha.
As much as I hate the brutal Midwest winters, the opportunity is too great for me not to move to Toledo. I estimate that I'm losing $5-20k per deal by not being there (i.e., not being able to negotiate the buy properly, manage contractors, or even sell at the right price point, etc.).
Highly considering retiring from my 9-5 down the line, I just need 5 solid deals per year to make the move, like your book says! Are you moving back to grow Ohio Cash Flow or Oz or is there something else in the works?
Appreciate it mate and I think it's time for me to update the book a bit 🤓
Even tho I promised myself to never write another book lol
Yeah mate, I get it but after spending the last 2 years in Dallas it's not what I thought it would be.
Aussie's really get along with Texan's so I thought I'd find a lot of Texan's here but nope.
All snobby folks from other parts of the country.
Where are all my true Texan's? Forth Worth, right? hehe
I miss the Midwest's "simple" mentality of my common folks.
Even tho, as you mentioned the weather can get brutal.
It's always a tough gig to do deals from afar unless buying turnkey.
Even then, turnkey is not worth it unless the portfolio is big.
As soon as you can, move to the market you want to invest in and with time you might become "institutionalized" to it just like I did with Toledo haha
I put Ohio Cashflow on the back burner 3 years ago as I got burnt out on working with investors lol
We only sell from time to time to our existing book of business and if I like the specific investor haha
I list most deals on the MLS and once sold, I clean my hands.
No need to babysit the never satisfied and disgruntled landlords expecting retirement from 1 turnkey property...
Unfortunately, it is what it is and I ate $#@% for many years before I said enough is enough hehe
Oz Realty has been the bread and butter for us and our main focus since we shifted focus.
Crazy that I'm even typing this as I hated PM for many years and considered it just as the "necessary evil" in order to offer a turnkey product.
Now, if I could turn back time, I'd never do turnkey and would only do PM hehe.
Everything happens for a reason mate.
Granted, it took 7+ years to create a lean and efficient PM machine hehe
I'm in Toledo every month for 7-10 days so feel free to hit me up whenever you are in town.
All the best mate 🙏
@Engelo Rumora , haha, a new book would be valid for sure, as things do change fast in this world, looking forward to it.
Dallas has unfortunately lost its southern charm, especially within the last 5-10 years. Now its just filled with bad drivers from out of state. It's kind of a wanna be Los Angeles and some can be egotistical/pretentious for no reason lol so I totally get what you mean. Midwest is way more down to earth and humble. The real Texans must be in Waco now haha
Will definitely hit you up. Glad to hear Oz Realty is doing so well, now if only y'all were in other markets too!
It's a shame mate and I sure have noticed everything you mentioned regarding the snobbiness and the drivers haha
Don't get me started on a public forum haha
I'll spill the beans in person.
Less is more mate, so no aspiration to expand.
As the saying goes "Why fix it if it isn't broken".
Keep being great and hope to catch ya soon 🙏
Post: Lets hit the ground running
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Moe Sidd:
Quote from @Engelo Rumora:
Quote from @Moe Sidd:
That’s awesome, I love seeing couples build together like that. Flipping and holding multis can be a strong combo for both cash flow and long-term wealth, definitely a solid strategy there.
I’m based in Dallas but invest in markets like Toledo and Detroit, where entry prices are lower and returns are strong. I'm talking around the 100k range and nearly hitting the 1% rule. If you ever consider expanding beyond Connecticut or want to see what those markets look like, happy to share what’s worked for me and other investors there.
Same here Moe,
Been based in Dallas the last 2 years but have done hundreds of deals in Toledo since 2014. Moving back early next year for a few years before I fully retire haha
Let's catch up 🤓
@Engelo Rumora, funny enough, I'm re-reading your book for the 2nd time currently. This time, I'm actually going to follow through with the advice, haha.
As much as I hate the brutal Midwest winters, the opportunity is too great for me not to move to Toledo. I estimate that I'm losing $5-20k per deal by not being there (i.e., not being able to negotiate the buy properly, manage contractors, or even sell at the right price point, etc.).
Highly considering retiring from my 9-5 down the line, I just need 5 solid deals per year to make the move, like your book says! Are you moving back to grow Ohio Cash Flow or Oz or is there something else in the works?
Appreciate it mate and I think it's time for me to update the book a bit 🤓
Even tho I promised myself to never write another book lol
Yeah mate, I get it but after spending the last 2 years in Dallas it's not what I thought it would be.
Aussie's really get along with Texan's so I thought I'd find a lot of Texan's here but nope.
All snobby folks from other parts of the country.
Where are all my true Texan's? Forth Worth, right? hehe
I miss the Midwest's "simple" mentality of my common folks.
Even tho, as you mentioned the weather can get brutal.
It's always a tough gig to do deals from afar unless buying turnkey.
Even then, turnkey is not worth it unless the portfolio is big.
As soon as you can, move to the market you want to invest in and with time you might become "institutionalized" to it just like I did with Toledo haha
I put Ohio Cashflow on the back burner 3 years ago as I got burnt out on working with investors lol
We only sell from time to time to our existing book of business and if I like the specific investor haha
I list most deals on the MLS and once sold, I clean my hands.
No need to babysit the never satisfied and disgruntled landlords expecting retirement from 1 turnkey property...
Unfortunately, it is what it is and I ate $#@% for many years before I said enough is enough hehe
Oz Realty has been the bread and butter for us and our main focus since we shifted focus.
Crazy that I'm even typing this as I hated PM for many years and considered it just as the "necessary evil" in order to offer a turnkey product.
Now, if I could turn back time, I'd never do turnkey and would only do PM hehe.
Everything happens for a reason mate.
Granted, it took 7+ years to create a lean and efficient PM machine hehe
I'm in Toledo every month for 7-10 days so feel free to hit me up whenever you are in town.
All the best mate 🙏
Post: Looking for multifamily 5-40 units. Any help appreciated.
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Zachary Buschmann:
I’m in the DFW are and I haven’t seen valuations that make any sense in the last 2 years. Looking for something off market and in a landlord friendly state. Any help is appreciated.
Im based in Dallas also but moved here for lifestyle and not real estate lol
Numbers work only on new build IMO and need very deep pockets for that hehe
Great long term growth prospects for DFW but hard to beat cashflow that the Midwest offers.
Check out markets like Ohio, Indiana and Michigan.
Much success
Post: Lets hit the ground running
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Moe Sidd:
That’s awesome, I love seeing couples build together like that. Flipping and holding multis can be a strong combo for both cash flow and long-term wealth, definitely a solid strategy there.
I’m based in Dallas but invest in markets like Toledo and Detroit, where entry prices are lower and returns are strong. I'm talking around the 100k range and nearly hitting the 1% rule. If you ever consider expanding beyond Connecticut or want to see what those markets look like, happy to share what’s worked for me and other investors there.
Same here Moe,
Been based in Dallas the last 2 years but have done hundreds of deals in Toledo since 2014. Moving back early next year for a few years before I fully retire haha
Let's catch up 🤓
Post: Looking for Reliable Contractor / Handyman in Toledo
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Syed Abidi:
Hi all! I'm an out-of-state investor planning to start buying in the Toledo market over the next few months (mostly BRRRR and buy-and-hold deals).
I’m looking for recommendations for reliable, investor-friendly contractors and handymen who can handle rental-grade renovations and small repair jobs. Bonus if they’re comfortable working with remote owners and can send photo/video updates.
If you’ve worked with someone solid — or have advice on who to avoid — I’d really appreciate it!
Thanks in advance 🙏
Toledo is a tough market for contractors.
12 years in the biz and we still get screwed.
Just recently someone that worked for us for 7+ years got us for $20,000
Such losses are inevitable and just the cost of doing business in Toledo.
Wishing you much success
Post: 🚨 Seeking Partner or Private Money Lender 🚨
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Saint Kyle:
I am seeking to secure a $60k loan for a seller financing acquisition on a 6-plex. I am prepared to offer a duplex located in Toledo, OH, as collateral.
I think I know the 6 unit and area is pretty rough on that one.
If it is indeed the one I'm thinking off
Post: Dallas Real Estate Lawyer Referral Needed!
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Ronald Rohde:
Quote from @Engelo Rumora:
Quote from @Ronald Rohde:
Quote from @Engelo Rumora:
Quote from @Ronald Rohde:
Is your property in Ohio or Texas?
Yes, the TAA lease is a good form, but I suspect you want more of a strategy discussion on how to manage notices, late payments, etc.
Matt and Ted are great, work with them on evictions since we don't do litigation.
I'm a real estate direct investor, located in Dallas.
Hi Ronald,
Thanks for your reply.
My property is located in Dallas.
Property management company based in Ohio.
And yes, more so advice on late payments, 3 day notices, eviction, etc...
Thanks again 🙏
Gotcha, yea they should be able to help you do that.
Thanks mate,
I'll reach out to them.
Let's do coffee sometime, I'd love to learn more about what you do in Dallas 🤓
Haven't done any deals here as I'm "too institutionalized" to Ohio but Texas and in general Dallas is insane to what I'm use to seeing lol
I usually host happy hours or am out 1-2x a week. Shoot me an email. I'm a commercial real estate attorney with my own firm. I invest directly in industrial assets in DFW. 8 buildings, about 150k sq ft.
Also have a killer YouTube channel ;)
Cool mate and will do.
Thanks 🙏
Post: Dallas Real Estate Lawyer Referral Needed!
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Ronald Rohde:
Quote from @Engelo Rumora:
Quote from @Ronald Rohde:
Is your property in Ohio or Texas?
Yes, the TAA lease is a good form, but I suspect you want more of a strategy discussion on how to manage notices, late payments, etc.
Matt and Ted are great, work with them on evictions since we don't do litigation.
I'm a real estate direct investor, located in Dallas.
Hi Ronald,
Thanks for your reply.
My property is located in Dallas.
Property management company based in Ohio.
And yes, more so advice on late payments, 3 day notices, eviction, etc...
Thanks again 🙏
Gotcha, yea they should be able to help you do that.
Thanks mate,
I'll reach out to them.
Let's do coffee sometime, I'd love to learn more about what you do in Dallas 🤓
Haven't done any deals here as I'm "too institutionalized" to Ohio but Texas and in general Dallas is insane to what I'm use to seeing lol
Post: Dallas Real Estate Lawyer Referral Needed!
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Ronald Rohde:
Is your property in Ohio or Texas?
Yes, the TAA lease is a good form, but I suspect you want more of a strategy discussion on how to manage notices, late payments, etc.
Matt and Ted are great, work with them on evictions since we don't do litigation.
I'm a real estate direct investor, located in Dallas.
Hi Ronald,
Thanks for your reply.
My property is located in Dallas.
Property management company based in Ohio.
And yes, more so advice on late payments, 3 day notices, eviction, etc...
Thanks again 🙏
Post: Best Neighborhoods for Small Multi-Family Investing (2-4 units) in Toledo
- Investor
- Toledo, OH
- Posts 4,557
- Votes 2,104
Quote from @Drew Sygit:
@Eric Widmeyer connect with @Engelo Rumora, he knows Toledo welL!
Thanks for the mention mate
Hi Eric,
Happy to help, I know quite a bit about the Toledo in Spain haha
Jokes lol
Feel free to message me
Thanks