All Forum Posts by: Patrick Drury

@Anuja Agrawal

@Taylor L. hit the nail on the head. If the only deals you are going after are on the market, you won't stand a chance unless you are extremely aggressive. You need to work with an agent that specializes in working with investors and in finding off-market deals. Also, you are most likely putting yourself at a disadvantage since you are only looking at single-family rentals which a majority of people that buy them are homeowners who this is not an investment for. Owner-occupants are willing to overpay since they are not trying to make money on buying the property so the numbers don't matter to them. 

@Alicia Marks
Population growth and job opportunities are big metrics I frequently look at. 

@Moazzem Hussain
You should also specify what you are looking to buy so that lenders can chime in and get you the most accurate advice. What you put down for a multi-family will be different than a single-family rental, for example. 

@Kristina Xie
It depends on what you are looking for as an investor. If you want cash flow, the Midwest is the best place to start looking. I would recommend looking in Columbus OH. It's a nice hybrid of both, so you get solid cash flow and solid appreciation. As for Syndications, it also depends on your time commitment and what you are looking to get out of investing. If you want something completely hands-off and don't want to spend any time on it a syndication or REIT might be a good idea for you. Owning a rental personally or with a partner will build experience and knowledge.

@Ed Deren   
If I didn't elaborate enough the commission would be split just like any other real estate deal amongst both agents or go to one if you dual repped the transaction. Wanted to clarify. 

@Ed Deren
Take whatever the seller is trying to net and add 6% (average commission in Columbus, OH) or the average commission amount on top. Then lastly, never negotiate the commission. It's a non-negotiable item, but the purchase price is though. Almost everything I do is off-market. 

@Alex Hafner
You are on the right track by already looking to get your core 4, and you are definitely in the right place to be finding those individuals. 

@Charles BaileyI have seen it quite a few ways. Some contractors here in Columbus OH either require half up front, then the rest is paid upon completion. I also have seen some that want to be paid at the end of each workday in the form of cash/check, or just plain old you can pay upon completion depending on the level of work being done. At the end of the day, it depends on the level of work and the relationship you have with that contractor. 

@Alicia Ayers 
If there is a disagreement on EMD, the only way to really solve it if you are dead set on getting the money back is to get an attorney involved. Otherwise, you can close on the property or walk away and eat the loss.

@David Pollard 
I live and invest in Columbus OH. I would be more than happy to help if you have any questions about the Columbus OH market.