All Forum Posts by: Marc Rice

We have a small portfolio in the Columbus, OH area. 5 single families and a duplex. The current value of the portfolio is $2.1m and we owe $1.3m. We have a construction project that we're trying to financing and looking to take a 2nd lien against the portfolio for 200k. That'd put us at 75% LTV combined. We could refinance the whole thing under a blanket loan, but we have 3-4% rates on everything and would rather take high rates on just a 2nd lien.

If anyone is interested please let me know on here or on a DM.

Thanks.

Everything I read and hear says you can't wholesale from the MLS...and I'm wondering why that is? If I find a potential property that is priced below market value, am I not able to put it under a contract because I can't show proof of funds? Or I'm not pre approved with a traditional lender?
Is that reason why working from the MLS is not recommended?
I'm wondering if I order a title search and home inspection, put the property under contract would that make the property more appealing to a cash buyer at that point if everything checks out? And if so could I assign that contract then?

Thank you as always!

Hi I come from the NY tri state area and I am not sure where to invest. What tools, or pros/ cons can help me decide if I should invest locally or out of state?

I would like to run something by you guys and ask for some advice. I am currently house-hacking a duplex in Columbus, OH and I think it is actually setting me back. I used a 0% down loan, 7.5% interest rate and have a total payment of $2,500/mo. However during the winter I had to lower rent for the other unit to $1,195 (water included). Because of my monthly payment and what I am actually bringing in from the other unit, I am putting $1,750 towards the mortgage each month (my share of rent along with expense/vacancy/maintenance budgeting). This is WAY too much for me personally and I can't really save a dime towards future investments. I was hoping to eventually refinance into a better rate like the mid 5's but this has been impossible recently. Each of the two units should be going for $1350-1450/mo. 

My goal originally was to house-hack this for a little, then move out and try to house-hack something with more favorable numbers where I could save a lot more (only have to pay around $800-1,000/mo). Because my portion of the payment has been so high, I have not been able to save at all. I really wanted to expand my portfolio this year and add my second property but it is looking impossible and I am almost becoming discouraged. I do not have connections for private money or partnerships and I have been stressed out about what options there are for me to better my situation. I would love some advice/recommendations on what I can/should do in order to lower my living expenses and be able to put money towards a second property. If you have any questions, please ask and I will share more info! Thank you in advance.

Greetings All

I’m ready to start my portfolio with rental properties. I currently reside in California, so I’m I interested in oos investing. 

I’ve been looking in Austin TX, Cleveland OH and Detroit MI. What other cities do you recommend for cash flow. I’m only interested in multi family properties.

Ready to build my team, but unsure where to start.

Plans are  to purchase 2 duplex or 1 quadplex in the next 30 days.

Any advice or words of encouragement are greatly appreciated.

Thanks!

I'm just curious about who's buying in this economy right now. Out of all the REI Instagram accounts I follow, it seems not a lot are actively buying. In fact, it seems a lot of people have turned to private money lending.

I haven't purchased anything since summer last year and am hesitant to get into the market again.

Please let me know if you're still actively buying right now, or why you're not.

Thanks for your input!

I'm looking for top properties in the short-term rental market in Columbus, OH and Kansas City, MO.

I want to know more about the current state of the market, top-performing neighborhoods, and high-quality properties for short-term rentals. If you have experience investing in short-term rental properties in these cities, please share your insights, strategies, and tips for success.

Thank you!