All Forum Posts by: Marc Rice

@Scott Hamilton

Columbus, Ohioans surrounding markets offer great multi family options that cash flow and appreciate. Columbus is one of the fastest growing cities in the US. Cleveland Cincinnati and Dayton offer better cash flow but less appreciation.

@Will Gebbie

You can make money in any market, but the Midwest definitely has less barriers to entry. Many out of state investors like Ohio and Indiana as their investment markets because you can buy homes starting at $50k

@Brian Pownall

The access to capital is at some of the highest levels we’ve seen.

I personally still buy good cash flowing value add deals in A/B markets in Columbus and plan to hold them for the long term. It’s very tempting to jump on stuff now because it’s so hot but it’s definitely not the right move.

@Kevin Connell

It's tough to wholesale a deal that's already on the MLS since it's already priced in at market value otherwise it would be gone.

Probably best to not use an agent, or tell them up front and see if they are interested in helping

@Christine Smith

1. Seller financing

2. Rent to own

3. Wholesale it

4. Get a private money loan just for the down payment and then get a normal loan on it

5. Find a better HML

6. Partner with a local investor in that market who owns similar rentals

7. Join those local Facebook groups in that market and ask for a partner

@Anthony Cuiffo

If you keep the rentals as Month to month leases, many investors or buyers actually prefer that vs vacant or long term lease. You’d be surprised how many investors would grab the whole portfolio, especially in this market. You could even ask some property managers on their opinions, some buyers like professional management in place.

I love the idea of asking your tenants to pay market value for the houses that they live in, and let’s be honest, home ownership is a good gift to give people.

@Austin Shade

There’s a lot of markets to invest in Ohio- from the bigger core cities of Columbus, Cleveland, Cindy, and Dayton to the smaller cities of Akron, Newark, Lancaster, etc.

You should define your cash flow vs appreciation goals and then identify a market

@Dayton Wright

I think buying always make sense. On a single family home if you live in it 2/5 years you can sell it without paying any capital gains. Plus if you buy one that can rent out to close to 1% of what you bought it for, it should cash flow and also appreciate gradually over time.

The market is hot right now so that is the downside and you don’t necessarily know the local area well enough yet. But I think if you buy a modest home that can be rented out when you leave you should be ok.

@Andrew Caldieraro

I’ve found the opposite. I’ve found I can get higher rents per a bed as a studio/1bd vs a 3bd. And they’re easier to rent and turnover because only 1 tenant to deal with.

A 4 unit is considered a commercial building for tax purposes in most cities so the benefit to converting it to a duplex would reduce your property taxes and insurance. The issue is you’re going to spend tons of money in permits, delays, vacancy, contractors, etc just to complete the job. In most cases, it’s easier to keep the 4 unit as is.

@Chester Wang

Have you confirmed you can get a loan out of the country on US property? I know I’ve heard difficulties in the past.