All Forum Posts by: Patrick Drury

@Tristan Moylan
Stay leveraged. Instead of buying 3 properties in cash buy 6 with loans. That is just an example, but it's better to stay leveraged instead of investing the Dave Ramsay way with no debt because debt is bad. As long as it is used correctly, it can be a good tool.  

@Ruby Oliver
Look into Columbus OH!

@Sean Bramble

Where do the markets you're investing in (or interested in investing in) fall along this continuum?
Columbus OH. As of right now, from my understanding, there isn't a lot of regulation on it. 

What have you seen happen over time to revenues, competition, home values, and regulation as these markets have evolved?
Rents, home values, and competition have all skyrocketed because of what's going on in Columbus and it's just the beginning of where Columbus is headed. With everything going on in Columbus, currently, it had made Columbus a great STR location. Columbus use to practically be a farm town about 10 years ago and it has completely transformed into a modern city with lots of job opportunities and population growth. 

@Yusuf Sarii
In today's market, there will probably be someone interested. Don't ask, don't get.  

@Jc M.
If you ever get an appraisal back low your best bet is to get a new appraisal if you are adamant about pulling out a certain amount. I am a real estate agent in Columbus OH and in my experience, I have never had appraisers go back or readjust their value. Typically if it's a sale you negotiate with the seller and if it's a refi you are SOL. In your situation, your best bet would be to get another appraisal and if you get the same outcome it's just time to move on. It is definitely important though for you or your agent to provide comps to the appraiser. This will give you the highest chances of your property appraising at the value you are looking for. Hope this helps!

@Grace Pearl 
Just save up till you have enough and do an owner-occupant loan on a duplex. Live in one unit and rent out the other unit. 

@Matt Sora 
Definitely use Zillow to advertise and screen applications. Cross-reference that with county court records to see if they have a criminal background. 

@JR Green  
If you are a rookie and own no real estate at the moment and are looking to have your first buy be an out-of-state BRRRR I would advise against it. You should buy something more on the light cosmetic side vs a complete rehab.

@Tom Seigold 

@Jared Hottle definitely hit that nail on the head with comps. It really boils down to just looking at the sales comparables in your area. Have your agent give you sales comparables in the area that lets you look at what's possible and how much value you can pull out. 

@Nick Coons 
I would just look to a different market with those prices in mind to get more cash flow for the same price. I would recommend looking toward the Midwest where you can get more cash flow. I live and invest currently in Columbus and it's a great market with lots of job opportunities and population growth.