All Forum Posts by: Marc Rice

Hi BP experts, I’m a busy professional in the Bay Area, trying to get into property investment. I don’t have time for all the house flipping or maintenance, so most likely just want to get a rental property to provide another stream of income. If there’s appreciation that would be great too. I was looking between OH, TX, FL and some cheaper areas in CA. What do you recommend for someone like me? I have a budget of less than 500k. 

I’m looking for a new market to buy and hold properties were the rent meets the 1% rule or close to. Any broker or realtor in Cincinnati that can shed some light in this subject? Much appreciated.

I live in CA and am about to purchase my first OOS investment property, targeting Cleveland OH. I am looking at an LLC vs SP, with the LLC registered in OH. I know CA has an $800/year fee for any LLC "doing business" in CA, but believe that if I do not have CA "payroll" of greater than $69k(approx), then this would not apply and therefore no fee. Am I interpreting this correctly?

CA details in question: 
https://www.ftb.ca.gov/file/business/doing-business-in-calif...

Has anyone done a pad split in Cleveland Ohio? I am thinking about buying this 8 bedroom 3 bathroom house in Cle. There is a good amount of square footage and it is a single family house. Instead of converting into a multi family I was exploring other options. If I kept it as a single family, 8 bedrooms is a lot to rent it out to a regular tenant so I was thinking about doing a pad split instead. What has been your experience with pad split in the Cleveland market and would you recommend it? 

*For those of you who don't know pad split is a platform where you can rent you each room individual to tenants. They are most ideal when you have a lot of rooms 

I know that the term "good deals" is different for every investor but I am curious where people in the past have found the multifamily properties they bought? People in the past have told me "If it is listed on LoopNet or Redfin it is not a good deal". I used to believe them but after countless hours  over the months analyzing properties I believe I have come across multiple cash flowing properties with great room to add value and increase rent. For those to own or sell multifamily, do you believe that places like LoopNet and Redfin aren't good places to look for investment properties? Where have you found some of the properties you own or found for people? Are off market deals really the only way to go? Any and all advice would be greatly appreciated. 

Hello Columbus investors! Over the last year I have purchased 2 rental properties in Columbus (LTR and MTR) and am doing my best to understand the area and investment strategy in general. I am attending BP con next month and would love to connect with any other Columbus or Ohio investors that will be there. Thanks in advance!

Property insurance questions below. I should have asked these questions sooner. 

I purchased a duplex in September 2022 and have occupied one of the units since then. I had the roof redone and insulation added to the attic in October 2022. Was I supposed to inform my insurance about this? If so, what does this affect? I am also now moving out of the duplex and will be renting out both sides (this would no longer be my primary home). Do I also need to notify my insurance of this? What would this change insurance/tax wise? Sorry if these questions seem unclear, I can clarify if needed. TIA!

The PM I was working with sold the company to a different PM. The service since the transition has been less than satisfactory. Looking to explore other options, would love to here how everyone's experience on the forum has been with their selected PMs. 

When a realtor is investing in a flip 50/50 with another investor with finances, time with project management, and making decisions on design.  Should the realtor still receive their commission for selling the home?  

Hey Columbus Real Estate Community!

I hope this message finds you all well. My name is Prit, and I'm excited to introduce myself as a fresh face in the Columbus Ohio real estate scene. I've recently embarked on my journey as a real estate investor and am eager to connect with fellow investors in our vibrant market.

My goal for this year is to close on my first property, and I believe that collaborating with experienced local investors is the key to success. I'm here to learn, share ideas, and build meaningful relationships within our real estate community.

If you're a seasoned investor or someone who's also just starting out, I'd love to hear from you. Let's chat, share our insights, and help each other grow in this exciting field. Your guidance and wisdom will be invaluable to me.

🤝🏡