All Forum Posts by: Jeremy Melloul

Hey Ron! Sounds like a good deal. I've got a great DSCR guy who has helped me with buying my properties in Cleveland.

Let me know if you're interested in connecting!

Welcome to BP, Zack! You’re in the right place. Are you mainly focused on Toledo, or open to other markets in Ohio? I’m based in Columbus and own properties here, as well as in Cleveland and Hocking Hills. Let me know if you’d like to connect sometime!

I totally get where you’re coming from—I moved from LA to Columbus two years ago for the same reason. The high cost of buying in SoCal just didn’t make sense when there are solid cash-flowing markets elsewhere. Since you’re open to out-of-state investing, there are definitely some great opportunities out there.

A few things that helped me:

-Finding investor-friendly agents/property managers who actually understand rentals.

-Looking at landlord-friendly states with strong rental demand.

-Focusing on markets with solid job growth and population trends.

Columbus has been great for me, but there are plenty of solid markets depending on your goals (cash flow vs appreciation, short vs long-term, etc.). What's your strategy—are you leaning toward single-family, multi-family, BRRRR, turnkey? Would be happy to share what's worked for me!

Welcome! Exciting times ahead in your real estate journey. Here’s a quick take:

1. Macro Trends vs. 1% Rule
The 1% rule is handy but not a dealbreaker if macro trends like population and job growth are strong. Focus on overall returns.

2. Provo Connections
Using your friend’s connections in Provo is smart—it lowers risk. Just make sure the numbers still work for your goals.

3. Expanding Metros
Direct flights help, but don’t skip great markets like Columbus or Huntsville if they offer better returns. Strong local teams can bridge the gap.

4. Property Management
For OOS, a property manager is a good idea, especially at first. It’s a cost, but it saves time and headaches.

5. Positive Cash Flow
Immediate cash flow isn’t always possible in growth markets. Just plan for reserves if it takes a year or two to break even.

Take your time, do the research, and trust the process. Good luck—keep us posted!

I'm based in Columbus and have been using the BRRRR strategy here in Ohio for a while, so I'm pretty familiar with the market. Doing long-distance BRRRRs can definitely be tricky, but the key is building a solid local team you can trust—property managers, contractors, and agents who really know the area make all the difference.

Ohio has a lot of great opportunities, but you’ve got to know which neighborhoods are worth it and which ones to steer clear of. Each market—whether it’s Cleveland, Cincinnati, or Columbus—has its own quirks, so digging into the local scene is huge.

If you’re serious about tackling Ohio, I’m happy to share what’s worked for me or help point you in the right direction. DM me if you want to deep dive a little more!

Hey! I’m really hoping the new administration can get Freddie and Fannie privatized. That could mean fewer lending regulations overall, which would be amazing. Obviously, no one wants another 2008 situation, but I think easing up on the regulations a bit could be great for both investors and people buying homes.

Hi there! First off, thank you for your service, and congrats on taking steps toward building long-term wealth—it sounds like you’re already thinking strategically.

Using your VA loan to buy a duplex, live in one side, and rent out the other is a solid starting point. It's a great way to lower your living expenses while gaining experience as a landlord. Plus, house hacking with a VA loan's benefits (no down payment, low interest) is a no-brainer.

After a year, transitioning into BRRRR with single-family homes makes sense, especially since you're working on your real estate license—it'll sharpen your skills and help you spot opportunities. Just make sure to research your local rental market and get comfortable estimating rehab costs.

It’s a smart plan, and you’re off to a great start. Stay curious, keep learning, and you’ll build momentum in no time. You’ve got this!

Hey Nicholas!  I have a great accountant/CPA who I've been using for years; He's also a RE investor. He's a ninja. DM me if you want his contact info.  Good Luck!

Hey Leah!

Your plan sounds well-thought-out and strategic, with a clear path to building wealth and achieving your goals of retirement and generational wealth. Starting with duplexes and transitioning into single-family homes (SFH), flips, or even commercial investments like a storage facility is a solid approach. Here are a few thoughts and clarifications based on your message:

1. Starting with Duplexes: House hacking with a duplex is a great way to start, especially if you plan to live in one unit and rent out the other. It allows you to ease into the real estate market, generate cash flow, and build equity while keeping your living expenses low. Considering STR (short-term rental) or MTR (medium-term rental) is smart, but also being prepared for long-term rentals (LTR) is key since markets and regulations can change.
2. Fourplex vs. Duplex: While a fourplex may seem out of reach, focusing on duplexes for now is a sound alternative. If you find a deal that aligns with your budget and goals, don't dismiss single-family homes with basement rental potential either. In fact, a SFH with a rentable basement can be a great stepping stone if duplexes aren't available within your price range.
3. Single-Family Homes vs. Duplexes: Single-family homes (SFHs) can appreciate faster in certain markets, but duplexes provide the benefit of immediate rental income from both units. In your case, having cash flow from duplexes might be more important than appreciation, especially if you plan to scale into other projects in the near future. However, duplexes can still appreciate well in the right areas.
4. FHA and Loan Strategy:
   • FHA Loan Limitations: You're correct that FHA loans can only be used for one primary residence at a time. Once you move on to a second property, you'll likely need to refinance out of the FHA loan to free up that option for a new home purchase or switch to a conventional loan for future properties.
   • Your Home in Year 3: Planning to use an FHA loan for your personal home in Year 3 is possible, but make sure you meet the FHA criteria at that time. Conventional loans for investment properties like the duplexes may be a better option if you're holding multiple properties.
5. Market Considerations:
   • You’re absolutely right that finding a duplex in Lexington under $300k in a desirable area might be tough, but keep an eye on market trends and perhaps look for off-market deals. With your boyfriend working for a builder/investor, you might have access to some insider opportunities.
   • Working with your boyfriend’s expertise and connections is a huge advantage, especially for managing upgrades and potentially cutting costs on labor or materials.
6. The $45K Home: Keeping the inherited property with the $45k balance as-is until Year 3 is a wise decision. Once it’s paid off or remodeled, it could become a fantastic rental property or your forever home, as you mentioned. There’s no rush to pull equity from it until you’re ready.
7. Flipping and BRRRR Strategy: Once you're settled into your duplexes and personal home, moving into flipping or the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) is a logical next step. Given your long-term goals of retirement and teaching your kids, these strategies can help you build even more equity and cash flow over time.
8. Retirement and Generational Wealth: It's fantastic that you're thinking ahead about teaching your kids and creating generational wealth. Having them each inherit a duplex is a powerful way to set them up for financial success while maintaining cash flow for your future retirement.

Overall, your plan is ambitious but entirely achievable. Just keep an eye on your financing options, the local market trends, and stay flexible if the right deals arise, whether they’re duplexes, SFHs, or other opportunities.

Quote from @Hai Le:

Hello all! I currently own two rentals in upstate NY and I've recently moved to FL. I've got a decent amount of money that I want to start investing into section 8 rentals in Florida/Out of state doing DSCR loans. Not sure where to start but if there's any experienced section 8 property owners that could I could connect with/get some advice from that'd be appreciated!

Hey Hai-

Section 8 housing rules vary from state to state and even city to city. I'm in Columbus, OH, and it's pretty straightforward here. It's also a great market to invest in. I know a bit about Section 8. Let me know if you want to chat more about it.

Jeremy