All Forum Posts by: Marc Rice

@Argi Avetisyan

You may want to get a bridge loan or hard money loan for the remained $200k. You’ll also want to see if the owner is ok with taking 2nd position lien. It would be tough to get a second lender to come in at 2nd position for that size. Just call a bunch of lenders and keep persistent!

@Dan Amaro

Nice! Columbus growth has caused a lot of growth throughout Ohio. Rising tide lifts all boats!

@Lauren Hay-Lavitt

Check out Columbus, Ohio! It’s a great market here with lots of appreciation and cash flow. Turnkey singles start around $80-100k where turnkey doubles around $120-150k.

@Michael Temple

Very creative, I’m guessing if there’s a vacancy he’s responsible for that master lease payment still. I’d imagine it would be hard to really scale this dealing with so many individuals and houses, I could see it being more efficient with an apartment.

@Jack Morey

I’d recommend find a local agent who also owns rentals there to get a good footing. There are many bad spots but definitely some up and coming areas as well. West side has seen the most growth.

@Nik L.

I also agree that the Midwest offers great rental options. In particular I’ve seen a ton of growth in Columbus and would recommend to look here also before you decide.

You'll probably be best buying turnkey or very light rehabs in affordable markets to scale up your portfolio. The Midwest is great for that with Columbus, OH being a great appreciation/cash flow market to look into.

@Logan Taylor

If your parents would co-sign on a loan with you then buy a large single family and rent the bedrooms to your college friends. You can buy one as low as 5% down with a non owner occupied co-signer.

@Nick Gerli

It’s a combination of purchase prices, rents, and crime levels. Mostly purchase prices.

@Christopher Owens

Look at price to rent ratios across the US. The state of Ohio (and all the Midwest) has great numbers and cash flowing properties.