All Forum Posts by: Marc Rice

Best of luck! Getting my license was a great help in my investing career.

There's a lot of other factors and variables unknown here. It sounds like you want something turnkey with little to no headaches. Potentials risks can be buying a property with existing tenants who don't pay and you can't get them out and when you finally do you'll need to do a turnover of the unit which could be a few $k. It may be best for you to get a fixed up duplex with no tenants in either side so your property manager can go in and stabilize (light maintenance, rent to good tenants) the property with tenants you've screened.

It's not that big of an issue to have tenants already in the place. You'll just need one of the leases to be on a month to month basis, expiring within 2 months, or vacant in order to qualify for an owner occupant. You can ask the owner for a rent roll of past months of paid rent by the tenants to make sure they're paying and not headaches. If the owner is having tenant issues that's actually a good opportunity to get a discounted price if you're ok with going in and handling that issue which really isn't that hard.

@Curt Bixel

You can do anything you set your mind to!

But for residential 1-4 I believe you can pull your own permits for most stuff. For commercial 5+ you need a licensed GC for all permits

Dayton is better for cash flow, Cincy is a hybrid of Cbus/Dayton for cash flow and appreciation standards. You're best move is to hone in on a market and find an investor friendly agent there

@Kristina Pearson

This sounds like a single family - you could do 15-20% with a investment loan, 1-5% down as an owner occ, or could go the hard money route such as Lima One or Aloha Capital.

You could also ask the owner for seller financing.

There’s a lot of information I still don’t know so tough to say. Is it a fixer upper? Do you have cash for down payment? Why not with your husband? What are your goals? Etc

@Anand S.

It’s one thing to open 5,000 STRs in multi family across fewer sites. It’s a very difficult thing across single family homes. We only manage studios and 1bds in multi family housing here in Cbus and manage over 50+. It would be quite a feat to buy (for a good price), stabilize, and manage that many single family Airbnb’s. I’d agree with Jay there would be a lot of push back locally, especially w single family homes often residing next to other single family homes (owner occs).

@Tyler Bolton

Columbus is a great city to invest in that is rapidly growing. Cleveland offers a strong cash flow market more north. Cincinnati is a mix between CLE and CBUS in terms of cash flow and appreciation. Dayton is similar to Cleveland.

If you want real estate that will appreciate and cash flow, Columbus would be a good hybrid.

You should find a good investor friendly agent in the market you want to invest in. They should have access to wholesaler lists as well and should help guide you to good PMs, contractors, and lenders.

@Daniel Molina

Most OSU housing rents for $500/room on campus. Sometimes closer to $600 on core campus west of Indianola and between Chitt and Lane. Most of campus housing isn’t cheap so I’d estimate around $60-75k per the bedroom.