All Forum Posts by: Marc Rice

@Julian Rivera

An owner occupied house hack will always be the easiest way to start. Low money down and great cash on cash return.

@Jessica Williams

Glad you decided to invest in Columbus. It’s a great market with lots of great people.

@Annie Weeks

I do short term rentals in Columbus, Ohio. I personally think this year will actually be great as travel demand slowly picks up, I don't think supply of Airbnb's (sewing that a lot closed their doors when Covid hit) will be able to catch up to the travel demand in time which will allow STR hosts to reap higher prices due to the supply and demand.

@Joseph Mah

It sounds like you’re having a lot of stress focused around that tenant potentially leaving and not being able to rent it at the same price. I’d recommend talking to that tenant first to see if they want to renew and try to get them to sign a new lease. If they don’t want to sign then I’d recommend start marketing the property in advance to try to get it filled up.

In regards to the Airbnb potential, it sounds like your home is zoned as a single family and since you’re technically living in the “property” I would imagine you could Airbnb the bottom section 365 days since you do occupy the property as a whole as a single family. I’d check with someone local doing management there. I manage short term rentals here in Columbus, Ohio so know it may be different.

If you want to stay in San Fran but invest out of state, you could do a cash out refinance or HELOC to use that money in the Midwest such as Columbus, Ohio. Or you could sell your home there, take the proceeds to buy a more affordable one and use the difference to invest out of state in the Midwest.

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@Garrett Schmidt

Columbus, Ohio is a great market that has strong appreciation due to population/job growth as well as solid cash flow. You’d be in C to C- class neighborhoods at that $120k price point but can definitely find 1% rules. Lots of growth and development happening here.

@Jeff K.

Buy another one at 1-5% down owner occupied then repeat

@Fang Underhill

I’ve heard certain stores do well in these small strips such as barbers, nail salons, etc. Could get it very discounted but you’ll want substantial holding costs to ride out vacancy

@Theresa Amouzou

I’d start by identifying a few markets and then speaking with local professionals there and running numbers. Then further narrow it down to one market. Speak with an agent and PM there so you can understand what the current trends are in different neighborhoods. Then choose a neighborhood you want to focus on and start analyzing deals there. Then buy one.

@Jeremy Pelle

Buy a single family with a lot of bedrooms and rent out the bedrooms to friends I know or people I’ve vetted. Only put 1% down on a down payment assistance loan.

Then move out and buy an owner occupied 2-4 unit in 9 months.

@Mark Baldwin

Maybe check with another basement contractor. Those cracking blocks may need more than I-beams to secure them. Good luck though!