All Forum Posts by: Remington Lyman

Wow, thats nice to hear from a seasoned investor in Columbus. Currently researching neighborhoods and to name a few are - Franklinton, German Village, Clintonville, Worthington North & South Lindon, Hilltop, Reynoldsburg & Whitehall. Thoughts on these? Are you a SFH or MFH investor? A mix of both? Pros and cons? And with the strong job market, growing population, and stable economy, that is what draws us to Columbus!

Hi all,

I’m new to real estate investing and looking to buy my first real estate property. Im looking to buy an out of state property. My goals are to diversify my portfolio, take advantage of the tax benefits of having a mortgage, and invest in a property with long-term appreciation potential.

Given my busy schedule, I’m hoping to take a more hands-off approach by working with a trusted local team. That said, I know how challenging it can be to build the right relationships and get started, especially when investing remotely.

I currently live in a high-tax, landlord-unfriendly city with sky-high property prices, so I’m definitely not looking to invest locally. I’d love to start small and smart, but I’m also feeling overwhelmed with how to choose the right market from afar.

Has anyone been in a similar position? How did you go about shortlisting and evaluating your market? Would appreciate any tips or lessons learned!

Thanks so much for your input. I am definitely looking for something that I can cash flow on, and buy and hold for the long term. Ideally a SFH to start out with. The cities my husband and I have been looking at include Dallas TX, Pittsburg PA, and Columbus OH. Any experience/thoughts on those places?

@Remington Lyman what is the minimum amount of money would you recommend having saved up to do this? 

Hi ,

I'm mooving in ohio and looking for opportunities Multifamily in the cleveland market any advise will be greatly appreciated 

Hi everyone, 

What is the best way to find a good lender for your market? Also, what makes a good lender good? 

I just started my real estate investment journey and want to get a pre-approval amount estimate. 

To any lender available to finance in Ohio, I'd love to connect. 

Hello! I just moved to Irvine from the Bay Area. We still own our house with ADU in Pacheco, CA, and the property is a rental now. We have invested with family over the years, and we're looking to make more investments. I'm hoping to learn how to find more deals that cashflow and make passive income.

Let's say I'm looking to go in at 3.5% on a duplex in the Columbus area using an FHA. I've been seeing properties go for 250k-350k that are within a reasonable range for an investment. What amount of cash saved is feasible for this option?

Hi BP! My name is Jackie and I’m looking for some guidance as I begin my real estate journey. I’ve read a few books/ listened to some podcasts on real estate investing and am ready to start analyzing deals but am stuck on which market to narrow in on. I can feel myself getting into analysis paralysis (in terms of market selection) and the last thing I want is to quit before I really even try.

Appreciate if anyone has thoughts on markets that generally fit the criteria below and I’ll take it from there! I’ve also included a short list of cities that seemingly fit what I’m looking for but am open to thoughts here as well. Worth mentioning, I live in NY and am leaning towards investing out of state, for lower property taxes and more landlord friendly laws.

What I’m looking for

- Buy and hold property

- Long term tenants (ideally vacant at purchase)

- Single family home

- Class B to A (likely B for more cash flow opportunity) neighborhood

- Opportunity to add value so am more than open to rehab

- Cash flow as primary focus

- An area with comparatively low risk of natural disaster

- Of course somewhere with growing population and jobs and less than average crime. Added bonus if a large corporation/ industry is investing in the area and or a city with confirmed infrastructure improvement plans

Cities I’ve found that seem to fit the mentioned criteria but appreciate thoughts/ guidance/ direction:

- Cincinnati, oh

- Columbus,oh (but seems like too hot a market?)

- Dallas/ Fort Worth, tx

- Charlotte, nc

- Toledo, oh

- San Antonio, tx

- Minneapolis, mn

Hi BP fam! I had a predicament with one of my properties over the last year and a half where, long story short, I had tenants who signed a a 12 month lease for my SFH, moved in, paid rent for two months and then didn't pay a dime towards the rent for the remaining 10 months of their lease terms. Because NYS favors the tenant, I didn't have a leg to stand on to get them evicted. By the time the lease terms had expired they moved out, but not without leaving the home a COMPLETE wreck and taking the ENTIRE kitchen with them. So not only was I out 10 months of rent and having to fork over the mortgage payments OOP for those 10 months, I am now stuck with renovating the kitchen and fixing up the parts of the house that were destroyed. All of this has left me in a deep financial hole. I am in the process of working with a contractor to fix the kitchen, floors, etc and am hemorrhaging money left and right. My question to you all is, do you think it's possible to apply for a 203k loan and then wrap the renovations in with the mortgage and then continue to rent it out? I'm trying to stay hopeful that I can continue my journey in real estate investing but I won't lie, this whole experience has dimmed my light a little bit. My other option is to cut my losses and sell the house once the renovations are done and pay off the debt I'm in and try and keep a little on the side to purchase another property. However, given the current economic climate, real estate climate, mortgage rates and the low rate I currently have on the home ( 3%) I'm debating on whether I'd even be able to purchase another property and have it be a good investment. This property is also in a VERY up and coming area of NY where obvious gentrification is occurring. They built up several shopping center and overall the area is it's getting the attention of a lot of people moving out of NYC therefore the prices of the homes in the area are slowly rising. I know that over time the value of the home will exponentially grow but all this situation has left me in a deep financial predicament and unsure of what to do with the home. ANY advice is GREATLY appreciated!

THANK YOU!!