All Forum Posts by: Marc Rice

Columbus, OH has a lot of those homes available and in decent areas as well.

Midwest area is good such as Columbus if you want cash flow/appreciation. If you want pure cash flow you can check out Dayton/Cleveland/Akron. If you want slightly more cash flow but also some appreciation, Cincinnati is good too. You can make money in real estate anywhere. Really research the market and find a good local team there to guide you.

My advice would be to make sure you have a lender that can actually do the 203k loan, let alone have at least 5 contractors lined up to complete the work because the odds are the first 4 will quit when they realize the 203k hoops.

May be easier to buy an owner occupant 2-4 unit with 3-5% down, add value, then refinance. I'm guessing it would achieve your similar goals.

Many neighborhoods, if not all, are very hot for flips right now since the prices have gone up very rapidly. Flipping is a source of "active income", make sure you're using your knowledge, deals, and income earned from flipping to buy and hold long term real estate assets.

You can find a good bookkeeper on Upwork for much cheaper and who will keep your books ready for your USA based CPA.

Welcome to the game!

1. When you are looking for a potential BRRR or possibly a fix and flip, do you prefer off-market deals or have you ever worked with a buyers agent? What do you see as the pros and cons to these options?

- Off market deals generally have a better chance of being priced below market value or with more upside since less people are bidding on them. You can find off market deals direct to a seller or by using a good investor friendly agent who knows how to source off market deals and will provide you professional representation. That investor friendly agent can also help you look at deals on the MLS too. For a first deal, I would say its safer to go through an agent.

2. When you know you want to secure a hard money loan (and then refinance later) do you reach out to these lenders ahead of time or after you have a deal in contract?

- Both before and right when you go into contract. You want to have at least 3 good ones lined up and when you go into contract you can have the option to go with the lender who can get the deal done.

Welcome back to Columbus!

1. There are a few solid meetups in Columbus - COIN and COREE are two of them. I prefer COIN. The CREAM is a good facebook page to be a part of as well that blasts out meetups.

2. Happy to help here

3. Happy to send some good property manager referrals over

Happy to share some referrals.

Yeah if you refinance your first one that should be fine. Could also do HomePossible owner occ loan or a local lenders portfolio owner occ option. After you buy a few properties FHA will say no more FHA loans because they don't want you to use FHA to "acquire an investment portfolio".

Buy as much positive cash flowing real estate as possible on low interest 25-30yr fixed notes.