All Forum Posts by: Marc Rice
Marc Rice has started 3 posts and replied 1809 times.
Post: Housing market in 2023
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Columbus, Ohio as a market is very diverse and not concentrated to one or two economic drivers. Also relative to other cities, Columbus is extremely affordable with an increasing population. The city still has a housing shortage as well.
Having seen the market since 2018, it's hard to really "time the market". I would recommend to write offers at price points that make sense for you with current interest rates and current rates. If rates go down in the future and rents go up, you will be very happy you didn't delay.
Another reason to "buy now" is because people are scared right now and will give you price discounts. An additional reason is that you can do a house hack loan every 12 months. If you start with a first time home buyer 1-2 unit loan first (First Financial, First Merchants, etc), do a 5% down conventional home possible loan on 2-4 units (or another local portfolio product on a 2-4 unit like what CF Bank offers) your second year, and then do a FHA loan your third year then you will have built up a nice sized portfolio in a very short time doing only low money down house hacking loans.
Post: Cancelled Deal Machine - It was Really simple
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
That's great to hear. Why did you opt for Propstream over DealMachine?
Post: After escrow analysis, annual taxes nearly quintupled!! Feeling discouraged.
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
You can hire an attorney to dispute the property tax reassessment. Bluestone Law Group in Columbus specializes in that. Regarding the escrow shortage that's a combination of taxes and insurance. May be worth reshopping insurance too.
Post: Zip-codes in Columbus, OH
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Thanks for sharing!
Post: Attorney - Seller Finance & Legal Contract Review
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Most attorneys at local title companies should be able to assist in that work. I use Landsel Title a lot. I can send over some referrals if needed, but overall I'd call a few title companies to have their attorneys facilitate the transaction.
Post: Research on Columbus Ohio
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
I have a good neighborhood breakdown map here in Columbus that I can send over.
Post: Reafco Quarterly Networking Event
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Can't wait!
Post: What are the best out-of-state market assembly tools?
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Quote from @John W.:
Looking several markets, some I’m familiar with, others aren’t- but seem very lucrative! I’m looking for cash flow!!
Check out Columbus Ohio and surrounding areas such as Lancaster, Newark, Delaware, Marion, etc
Post: New Investor Elaina (loves short term rentals) Columbus OH
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Quote from @Elaina Biffle:
Hi all!
I'm Elaina and new to bigger pockets and new to real estate investing. Just bought my first property to use as a short term rental and looking for more SFH, duplexes and condos to host, or fix/flip and host. I've been listening and learning for about 3 months and ready to take a few more plunges. I think short term rentals are a great way to see our beautiful city of Columbus or to provide housing for traveling professionals. My goal is to meet more like minded people that I can use my background in HR and financial education to help, and ultimately be a part of a dream team of investors looking to make Columbus (and eventually Cleveland, Cincinnati) better places to live, work and play.
When not learning about real estate, I teach yoga for athletes and run a cleaning company. A fun fact about me is I love helping people get better at whatever they desire and traveling learning about new cultures. Looking forward to meeting some of you!
Post: Buying 2 multi family units Akron and Canton
- Real Estate Agent
- Columbus Cleveland Dayton, OH
- Posts 1,877
- Votes 1,837
Quote from @Karl Hadland:
I’m a new out of state investor. Realtor in another state, just wrote offers on 2 multi family units in Akron and Canton. Both have renters with what seems like good numbers on paper. The Akron property is in the Arlington area just east of 8 and the University and the Canton property is in NE Canton just north of 82. Obviously will be getting inspections but I’m hoping for some more insight from anyone familiar with the areas. Is there anything else I should be considering or looking out for?
thank you!
Make sure to have a good inspector - otherwise check for knob and tube electric, bowing walls, galvanized plumbing, etc.