All Forum Posts by: Kristen L Garner

Most of the investors that I work with that have large portfolios use excel sheets. Here are common columns I see for data. 

Original Loan Amount, Current Loan Amount, Purchase Date, Appraisal Estimate, Rented Y/N, Rental Rate, Annual Insurance, Annual Property Taxes, HOA Dues, Remodel Y/N, Remodel Cost

Hey, welcome! Although I personally invest in Indy...I work with other investors in the Akron area.

A few thoughts -

Rent to retirement vs. finding your own deal:

Turnkey providers like Rent to Retirement can be a great option if you want a more passive, hands-off experience and are okay with potentially lower cash flow. Although you may be paying a premium for convenience...you will likely get a solid deal and spend much less of your own time. 

Finding your own deal may take more time and effort, but it can give you better margins and learning opportunities. If you have someone reliable on the ground (agent, PM, mentor), that can make this path smoother. 

What I’ve seen work well in Akron for other investors I work with:

I've seen scalable success in B-class areas with solid tenant demand and lower turnover.

Avoiding properties that “look cheap but need everything.” 

Paying attention to property taxes and school districts. They can impact both cash flow and tenant quality.

Making sure you understand property management costs in the area. Even if you don’t need one now, plan for one later if you scale.

If you want a second set of eyes on a deal, I’m happy to help!

Red Flags:

• No online presence: If you can’t Google them and find a website, reviews, or even a LinkedIn page, be cautious. Reputable lenders should be easy to verify.

• Vague loan terms: Make sure the interest rate, fees, points, and loan duration are clearly outlined up front. I've had borrowers miss payments and ruin their credit simply because they weren't clear on the terms of their HML.

• No clear payoff process: Ask how you’ll obtain a payoff demand when you’re ready to exit the loan. I’ve seen borrowers get stuck or delayed in the refi stage when this isn’t clear from the start.

Green Flags:

• Transparency: The best lenders are upfront about costs, timelines, and risks.

• Flexibility: Some lenders will work with unique property types or creative deal structures, especially helpful if you’re eyeing an apartment complex.

• Experience: Look for lenders who have worked with investors in your market and property type. You can even ask for examples.

• Speed and reliability: One of the main benefits of hard money is speed. Make sure they can actually close fast and deliver what they promise.

Best of luck!

Hi there! I invest in Indianapolis from out of state...and as someone originally from the area, it’s been both familiar and eye-opening. When I first started, my biggest challenge was selecting the right property. I learned quickly that a low purchase price and high projected cash flow can be misleading, especially if the property is in poor condition or in the wrong neighborhood. Over time, I refined my buying criteria to focus on long-term value, not just short-term numbers.

I now work with many other out-of-state investors in Indiana, and the ones who thrive usually have strong boots on the ground—whether that’s a mentor, property manager, agent, etc. That insight makes all the difference in choosing the right deals.

Of your current options I would say Cincinnati wins for cash flow! In general there are many areas and pockets in the market that fit the bill - more than I could list and depends on what type of property and price point you are looking at. 

Hey Sarah!

Starting locally can be a smart move, especially if you already have a realtor, contractors, and contacts in place. That existing team gives you a major head start, especially with a short-term rental or flip. Elmhurst and surrounding suburbs may not be STR "hotspots," but executive rentals or medium-term stays (like traveling nurses or corporate housing) can still cash flow well.

Out-of-state investing can offer different opportunities and higher ROI, but it also adds layers of complexity (property managers, distance, unfamiliar laws), and for a first deal, staying local might let you learn with more control and less stress.

I started my portfolio by investing out of state in Indiana (originally my hometown) . I chose to do so because the area I lived in at the time didn't have numbers that made sense for me and I felt familiar with Indiana and still had connections there.  I am very hands off with my properties and let me PMs handle almost everything. 

From a lending perspective, I work with both STR and flip investors and there are great loan options available whether you're staying put or going out-of-state (DSCR, non-QM, bridge loans, etc.). Timing bonus depreciation could be worth watching, but the right deal will still perform either way. Your strong W2 income will also help you snatch conventional loan pricing and better rates to get you started - always a plus!

Happy to run numbers if you’d like to compare different strategies or properties. Best of luck. 

Hi Tarek! I’ve worked with several investors actively buying in both markets. Here are some of my takeaways. (I do not personally invest here - I invest in Indiana. This is just what I have noticed working with other investors)

Columbus Pros:

• Strong population growth due to OSU, tech sector, and Intel expansion
• Generally more stable appreciation and tenant demand
• Easier to find newer small multis in decent shape
• Good resale liquidity

Columbus Cons:

• Investor saturation, especially near campus and downtown
• Cap rates are compressing quickly
• City is tightening code enforcement and landlord compliance

Cincinnati Pros:

• Still pockets of undervalued small multis with strong cash flow potential
• More neighborhood diversity means more strategies (BRRRR, Section 8, etc.)
• Slightly easier entry points price-wise
• Strong local tenant base and healthcare job market

Cincinnati Cons:

• Some areas still have lower appreciation and/or weak comps
• More deferred maintenance in older multis
• Need knowledge for PM nuances between neighborhoods

From a purely lending perspective, on DSCR loans - Cincinnati has been having stronger DSCR ratios.

If you’re comparing specific deals and want help running the numbers to compare - feel free to reach out.

For investment property HELOCs, it’s common to see origination fees in the 1–3% range, especially when the product offers a fixed rate (which is rare for HELOCs in general). That said, 4.99% is definitely on the high side and usually tied to rate buy downs or specific lender models.

A few things to consider:

• HELOCs on investment properties are offered less than HELOCs on primary properties so terms and fees vary widely.
• You're absolutely right that a refi might offer better long-term pricing, but if you're only looking to float short-term cash and not tap the full equity, a HELOC still gives you more flexibility, especially if interest is only accruing on what you draw.
• There are HELOC options with lower and no origination fees, especially the newer HELOCs that utilize AI and cut out some of the human work involved.

I could recommend some alternative HELOC options and info for your scenario if you'd like...just send me a DM!

Both DSCR and Bank Statement loans are very common. In addition to what Patrick and Chris explained - a big difference is that DSCR is ONLY for non owner occupied investment properties while Bank Statement Loans can also be used for primary purchases.

Since DSCR and Bank Statement loans are pricing very similarly right now, DSCR is more popular because it requires less documentation. However, if it is a unique property or the rent is low causing a bad DSCR ratio, then Bank Statement is an alternative.

To qualify for a Bank Statement loan most (not all) programs require you to be self employed for 2 years and you provide 12 or 24 months of your bank statements. The bank statements are then reviewed for any deposits that are income and the income is averaged out to provide your monthly income. This is the "income" part of the DTI equation. The "debt" portion is not calculated by expenses shown in your bank statements. It is calculated by an expense factor. 50% is standard but you can go as low as 10% if it makes sense for your line of work and the loan guidelines allow it.

Both DSCR and Bank Statement allow you to vest in your personal name or in an LLC. Conventional, FHA, VA, and USDA do not allow LLC vesting. This is another reason why many investors use non QM loan products like these.

Hi Reid, welcome! I work with investors in Wisconsin who have been doing well in Milwaukee.  I'd be happy to share the info of some agents that helped those buyers find good deals as well. What strategies are you considering initially? Feel free to DM me or email me to chat!