All Forum Posts by: Patrick Drury

@Bishwash Aryal
Columbus OH is full of small multi-family like 2-4 units

@Account Closed    
Cash flow is non-existent in A-class neighborhoods. If you are looking for cash flow you need to be looking at more C locations because the lower price of entry paired with market rents allows for higher cash flow. For example, Hilltop, Franklinton, Linden, and Whitehall/ Eastmoor are great places to look.

@Simon Obas
I would say new photos would help especially for a more luxury single-family. The photos look like they were shot on an android phone. I think the others are right about landscaping that should also be fixed. I am not familiar with the market in particular, but if is overpriced compared to similar sold comparables that would be on your agent for not speaking up and saying so, and if they did, then I would say you should listen and lower the price. Also, I would suggest not firing the agent after 11 days. I would suggest not throwing in the towel so quick. 

@Pam Wils
If you already have your license, I would say save up 6 months of reserves and then quit your day job and go full-time once you find a brokerage that fits what you are looking for. I wouldn't spend too much time sifting through brokerages. The only important things you need to ask are 1) what are the splits? 2) What's the cap? 3) What kind of mentorship will you receive or will you be left to fend for yourself? 4) Lastly, what does the brokerage primarily focus on? For example, the brokerage I work at focuses on small residual multi-family, but we still broker larger multi-family deals. That's great for me because I owned a single-family rental prior to becoming an agent and wanted to buy more rental units as well as learn more about being a real estate investor. If you want to be a listing agent join a brokerage that does a lot of that. All brokerages are very similar if not the same except for Reafco! 

@Pam Wils
Are they unwilling to allow you to be part-time till you get your license or once you have it? An agent can only be effective at their job if they are full-time or they are just half in half out. Gotta take the plunge and quit your job! 

@Nikel Berry
Get up earlier and go to bed later. Also, if you plan on quitting your job or jumping head first into real estate as an agent, you should have 4-5 months of income saved up. It's pretty common to not close the first deal and start making money till after your 3-4 months. It took me 3 months to close my first deal and from there you start to build momentum. Most importantly, you need to always keep your pipeline full. Who cares if you put one deal in contract because once it closes your back to square one, starving with no deals so constantly keep prospecting. Prospecting could mean a number of things for you, but for me, it's cold calling. 

@Felix Lilly
If you want to become a wholesaler, I would recommend just getting your license and becoming a real estate agent. 

@Justin Stetson  
Definitely look into getting a VA loan since you served in the military for the last 6 years. That would be a great way to get started in real estate with 0% down.

@Charleen Nicole Russo
I would definitely recommend Columbus OH. It's a solid hybrid market of cash flow and appreciation. Columbus has lots of job opportunities and population growth. I currently live and invest here in Columbus OH and would recommend it.

@Enrico Bertini
If you're not able to invest locally or are not able to get the returns, you are looking for you should invest out of state. I would recommend looking in the Midwest. Columbus OH is a great place to start looking in the Midwest. It's a nice balance of cash flow and appreciation. Also, it has lots of job opportunities and population growth. I also live and invest locally here in Columbus.