All Forum Posts by: Kyle Tom

Thanks for the reply Patrick. I was actually looking into doing the brrrr method about a year ago in cleveland. I had trouble making the numbers work for me and got discouraged. Either the ARV was too low, rehab too high or the purchase price was too high on the properties I was looking at. It seems as though there is not enough spread in Cleveland to pull off a brrrr in Cleveland. Although Im sure there are plenty of experienced people pulling it off in Cleveland. Im not as familiar with Columbus OH. Is the 1% rule achievable in Columbus? Also, do you know of any Neighborhood grading maps for Columbus that I can look into and maybe become familiar with the neighborhood?

I need your wisdom on this interesting situation. I have a month-to-month tenants, a man and his ex-girlfriend. He is a handyman who takes good care of the house. They broke up two month ago. Meanwhile, he has been paying full rent but his ex is not contributing anything to rent and she refused to leave the house. Now, he got a new girlfriend and wanted to live together in the house, but his non-paying ex is there. So he asked me to add the new girlfriend in the lease and remove the ex from the lease so the ex leaves. Although this is personal matter, it will surely affect rent payment and my income. I want to keep him in the house, but with all this drama I have no idea what to do. Please advise. Thanks!

Sounds like a pyramid scheme......JOKING, take it easy. Regardless, you need to find a brokerage that has a good environment and culture. The brokerage I joined in Columbus always is throwing around off market deals, going out together, and building each other up to do more in real estate and with the community.

@Justin Gottuso I think you’re right about your approach. It’s smart to have that nest of 100k ready to use as down payments. 

I do not have my team together yet. That’s another issue with it, because I am so far away, I haven’t been able to make those relationships just yet.

I like that networking strategy though. This has been very helpful. Thank you 

I heard on a BP podcast that there was bank in Alaska (lending locally) who lends on appraised value of a property, rather than the purchase price. Do these type of banks really exist? Where they will cover 100% of cost/purchase as long as it below a certain percentage of appraised value? Are there lenders out there who might come close? There is a property I am looking at very closely that has a lot of margin but will be a rental purchase. Shooting my shot here

Hello BP community! I am trying to land my first investment deal in Columbus Ohio, but have very little to contribute. Does anyone know ways I can find people to help me get started? What did others do to land their first deal with no money? Just looking for some ways I can get started! Thanks!

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I'm still a fairly new investor, and am not entirely confident in my use of the calculator. I have a SFH in Columbus, OH under contract for $87k, and the seller is willing to go down a little more to $85k. Rehab costs are estimated by my more-experienced partner to be $35k, but he doesn't like this deal. For his criteria, there may not be enough meat on the bones, but from what I'm seeing, it doesn't look so bad as I'm in the early days of my investing. Does anyone see anything I blatantly put in wrong that could make this a bad deal disguised by my own inexperience?

Also, it's listed as a 3/1 with 1100 sq ft, but actually has a fourth bedroom that just needs a closet, so the ARV could be a bit higher based on comps I'm seeing in the neighborhood.

*This link comes directly from our calculators, based on information input by the member who posted.

Columbus, GA doesn't have a REA that I know of, and I see a lot of newcomers to BP from the area including Phenix City, Fort Mitchell, AL.  Would some of you like to get together and exchange some ideas and contact information?  We should strengthen our local network improve our buyers/sellers list and make referrals to each other like electricians, plumbers, construction guys, etc.

I’m new to real estate and been looking for my first out of state investment property. I been doing some research in what states are better for cash flow properties and it lead me to Cleveland, OH. Maybe I’m wrong and would be helpful if anyone could point me to the right direction. I would really appreciate it. If you’re investing in this area shah neighborhoods do you recommend?

I would to participate into long distance real estate investment?