All Forum Posts by: Patrick Drury

@Tom Grieshammer
The best bang for your buck would be buying an existing duplex with an owner-occupant loan and putting down 3.5-5% and live in one unit. With that amount saved up you could buy something and still comfortably make cosmetic updates and have reserves. 

@Maurice Smith
RL property management is pretty good they are just very strict on where they will and won't manage. In terms of your question about owner disbursements, I believe all the Columbus ones I know of disburse at the end of the month. I can send over some recommendations for Columbus Property managers

@Amber Moelter
For reference, I just sold a 2 bed/1 bath duplex in University Heights for 267k. 2 bed/1 baths in each unit and the seller (my client) delivered it POS-compliant. This property was on the edge of University Heights and cleveland heights. You're not going to find cash flow in those areas. If you have 20k set a side keep in mind you may need to dip into that money if the seller won't deliver is POS complaint. I would just stick to areas without a POS 

@Johnny McKeon
To reduce your self-employment tax you could make an LLC for your real estate agent business and then make an S election to file as an S corp. As an S corp, you would pay yourself a salary. I would check with your account to make sure doing this will be profitable for you and your situation. I am by no means a tax expert so keep that in mind I just speak from personal experience. In terms of doing cost segregations and taking bonus depreciation (assuming you have real estate professional status), they create losses that offset your income by rapidly depreciating the property. The best combination in my opinion to have your real estate agent income in an S corp to reduce personal income tax (as long as it financially makes sense) and then buy real estate and cos segregate it and take bonus depreciation to offset against your income.

@Grace Tapfuma
I wouldn't sell a perfectly fine business to get capital to invest in real estate unless there are indicators thats time to move on to something else. I would spend more time improving and scaling your business so you can make more money quicker so that you can get the capital to invest in real estate. It costs money to own and operate real estate which is why you need a primary source of income. 

@Sankalp Godugu
If you are looking in the Columbus market I recommend areas like Hilltop, Linden, Eastmoor/ Whitehall, and Franklinton. These are areas where you can cash flow in Columbus because the rent-to-price ratio is favorable. Out of these areas, Franklinton and Linden are seeing some of the most developments. With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood. Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed. Franklinton has been seeing lots of developments like the completion of Gravity Phase 1 and phases 2 and 3 on the way. As well as coffee shops like Bottoms Up Coffee are moving in and small microbreweries like brew dog and Land Grant.

@Voley Martin
If you are looking in Columbus I recommend areas like Hilltop, Linden, Eastmoor/ Whitehall, and Franklinton. These are areas where you can cash flow in Columbus because the rent-to-price ratio is favorable. Out of these areas, Franklinton and Linden are seeing some of the most developments. With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood. Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed. Franklinton has been seeing lots of developments like the completion of Gravity Phase 1 and phases 2 and 3 on the way. As well as coffee shops like Bottoms Up Coffee are moving in and small microbreweries like brew dog and Land Grant

@Damein White
I use Wildcat lending a lot for hard money on my projects in Cleveland 

@Dayana García
The Midwest markets in Ohio are solid like Columbus and Cleveland. Low barrier of entry, landlord friendly and you can find deals that cashflow

@Matt Schreiber
I'm still seeing deals that cashflow in Columbus and cleveland. I actually just bought a duplex that was on the market last month in cleveland.