All Forum Posts by: Patrick Drury

@Kim Leduff
If you are interested I can send over some good insurance contacts. Not sure exactly where the rental is located, though. 

@Austin Freeman
FSBO is a bad idea and especially when you don't even live in the city. Trying to save 3% isn't worth it. You are definitely opening yourself up to selling your property for less than it's worth or wasting time trying to sell it for more than it's worth because you don't have a pulse on the market. You don't know what things are trading for here in Columbus on the day-to-day. The agents that are selling these deals do.

@Saurabh Kukreja
You should include appliances. I have heard of some tenants supplying a fridge, which is pretty rare in Columbus, but for a tenant to supply a stove is very uncommon. Also, I would check what comps are renting for again. It's very likely you are looking for something over what the rental market supports. 

@Justin Golden
Have you looked into DSCR loans?

@Nicholas Creahan
The best place to start looking for lenders would be your agent. Definitely ask them if they have any lender referrals before just looking about. It will save you a lot of time. Also, as for contracting them, you should be fine. If you are doing a BRRRR there isn't much sense in jumping the gun and reaching out till the project is completed/close to completion as long as it will be finished before the apprisal.

@Account Closed
I would recommend looking at Columbus OH. You can get good cash flow and solid appreciation at the same time. Columbus has a lot of job opportunities and population growth. Especially with Intel coming to Columbus as well as Hyperion, which is a company that makes hydrogen fuel cells. Columbus is home to the HQ of Chipotle, Wendys, White castle, L-Brands, and Hunnington. Columbus is also home to OSU, which constantly develops real estate, employs lots of jobs, and attracts students from the US and internationally to attend. On top of all of that, it boasts one of the best college football teams Ohio state buckeyes, which is very well known and has a cult following, and attracts a lot of people to the games. If you don't care about appreciation at all you should look at Cleveland OH. Cleveland has a bit higher cash flow than Columbus in exchange for the appreciation.

@Greg Lyons
Something to keep in mind from my experience in Columbus, at least a lot of commercial lenders do not like to lend to out-of-state investors. You may not qualify for a commercial loan depending on if you already own real estate and what that situation looks like. The best way around this I have found is to have investors buy small residential multi-family like duplexes and 4-units then go after commercial deals after they already have a good foothold in that city. From my understanding, if an investor already owns real estate in that city, the chances of you getting a commercial loan just went up exponentially. I would recommend you talk to a commercial lender though and it might differ from city to city. 

@Todd Hines
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.

@Trey Rice
Go to local meet-ups and join a local REIA. You should be able to find more seasoned investors there who can point you in the right direction.

@Dylan H.
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.