All Forum Posts by: Jonathan Styer

You will hear a lot of cheerleading on BP for Columbus, and I am always one to pile one. Cashflow, appreciation and great culture. It is one of the fastest growing cities in the country so the demand is always there. 

Leverage that $80K into multiple deals and you should cashflow more than $400 easily. 

You will have a hard time finding someone who will recommend an LLC if you have a few rentals, when you get into double digits you may want to look into it. For now keep it easier for yourself and just get an umbrella policy.

It costs time and money to get your license. You will have access to the MLS but that also costs money for NAR and local Realtor Association dues. If you're going to truly use it, it is great. If you're just going to get it to get it, then it is probably not worth it.

Look for management companies who rent to students. This is a lot more common on campuses and you may find it easier to find a PM who is used to this situation there. 

@Max Bromme Wishing you the best from Columbus. You're in a good market for REI.

@Patrick Brodeur Most lenders are going to require you own the property for a year before considering a HELOC. Without knowing your market it is going to be difficult to say if you have really added much short term equity. Did rents increase? Did you do any other upgrades? You may be better off waiting for some natural appreciation unless you think you can get a much higher appraisal or much lower rate. Refinancing costs.

@Bill C. What kind of volume would this manager be managing? There is a big difference between 10 units and 100 and a lot of room in between. 

Sending positive vibes from Columbus! If your investments ever venture north I would be happy to connect. 

I hope your pipes don't freeze.