All Forum Posts by: Reece Iovine

I focus on coc percent with a minimum of 100 per unit. Your expense numbers look good but I would try to lock in on some actual numbers instead of rules of thumb as you dive deeper. Looking good so far though!

Received approval on my 15 year 100% tax abatement application for my latest rehab. There are some great programs in Columbus too look into if you rehab properties in certain areas.

huntington bank...they seem big but they are really mostly in ohio. I have a 70 ltv investment cashout and a 75 owner occ cash out :D great rates with their portfolio options!

I just got a 2.85 cash out refi on a duplex owner occupied. Low 3s if not owner occupied. $500 closing costs. A mortgage broker is a good place to start but I'd recommend calling some local banks a lot will have special promotions or just good rates. 

cash out refi! just make sure they cashflow after the new debt! If they don't then go HELOC or some line of credit so that way you can use capital and pay it off over short bursts of time!

I work with @Steven Foster Wilson. I changed brokerages to REAF co a year ago and it was a game changer. The way we implement VAs, google forms, zapier, CRM, etc. makes it possible for 1 agent to have 30 deals in contract at any given time. A feat almost impossible with out solids automation

I rented up a 3 bedroom rental for market rent in 6 days 2 weeks before christmas. Solid rentals at fair market rent go quick! Strong demand for good housing.

For the most part I will submit any offer for a client. However "low balling" is not a great strategy. What's the highest price you can pay and still meet your investment criteria? That's your max offer...Then offer a little bit below that. Do you want to build a business or play games? If you are known as "that guy" that never submits a serious offer that will be bad for business. I'm not saying that's you I just want to make sure you see both sides of the coin. Maybe the agent is terrible, maybe they have sound advice...something to think about :) good luck

I'd say ohio is pretty special because it checks all the right boxes for real estate investing. I'm referring specifically to Columbus as it is the strongest market but you can make good many in many other ohio markets. Landlord friendly state, good rent to price ratio, strong job growth, strong population growth, good environment for small and large businesses so a lot of businesses are moving to ohio. Due to all these factors there is a lot of investor activity which leads to improving neighborhoods and strong apreciation.

Chat with a lender. You should be able to do a "refinance" and pay off the other owners. Question is...is teh home a good deal? Do you want to own 100% of the home...is it "that good" of a deal? Just something to think about. Or if its not a Great deal, sell teh thing pay everyone off and buy a GREAT deal 2-4 units and get some cashflow :)