All Forum Posts by: Remington Lyman
Remington Lyman has started 33 posts and replied 5670 times.
Post: Aspiring multifamily owner
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @Mike Schelske:
Hi,
I am a veteran and I decided I want to use my VA loan to buy a multifamily property and owner occupy. I've read a couple books, blogs and listened to podcasts and I am ready to start looking for properties but I don't have the money for closing costs or emergency funds for big issues. As I save money I have time to learn, and practice analyzing deals, and growing my network. What is the best approach, do folks spend a hour a day analyzing properties on Zillow and talking to agents and brokers?
Mike
If you only have an hour a day I would recommend talking to agents.
Post: Investing in blue or red states
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @James McGovern:
Is it true that investing in red states when it comes to AitBNB will likely have more regulation. Likewise a blue state will likely have more laws that are anti landlord?
I would think the opposite
Post: Out of state cash flowing rental markets
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @V.G Jason:
Quote from @Remington Lyman:
Quote from @V.G Jason:
Quote from @Remington Lyman:
Quote from @Mike D.:
Quote from @V.G Jason:
Quote from @Mike D.:
Quote from @V.G Jason:
You're honestly better concentrating your capital in an above average market(AZ, NV, etc.) and putting more down(yes cash at risk, for you guys that faint on that) or pivoting to equities or an alt source of an investment than doing anything in the midwest.
The math on that does not math. Assume you put enough down on something in Phoenix to reach $0 cashflow and calculate the return on equity, then do the same in the Midwest. Midwest wins every time. In fact if I were going to do the first, I'd prefer to just be in the stock market. Especially considering that you need much more reserves (dead idle cash) when doing these appreciation-focused plays in low cashflow markets.
Phoenix will likely yield a true gain in appreciation. The math more than maths in practicality.
I must ask, do you have something to sell Midwest based?
No sir, I've got things I'm holding onto! I'm not a PM or an agent. I just come here to learn and try to give good advice. My entire portfolio is made up of small family in the Midwest and it definitely does cash flow. I've actually considered investing in Phoenix--I estimate return on equity must be in the low teens at best if you pay it down enough to get $0 cashflow. For that return I don't see why I should be actively involved in something--might as well be in stocks. In the Midwest you can get total return of say 20% without breaking a sweat, even figuring in the lower appreciation. Try running those numbers.
As someone who has no skin in the game I disagree with @V.G Jason. You should not count on appreciation of anywhere let alone someplace that is unbearably hot all the time and has weeds that poke you
Don't make this another Cleveland Bob debate where he walked into that answer.
This is the differential of making wealth versus money, and why too many miss the forest for the trees.
I was kind of joking. Different strokes for different folks. No one is wrong. Just different ways to get to financial freedom
For sure, there's different ways. The dogmatic approach to hit any notion of investing with appreciation on the mind as wild here needs to quit though.
Right now, there's maybe 3 people on this board that can wake up & not lift a finger and be good for life.
Not a single one of them got there worrying strictly about FCF or appreciation, but both among with other factors. And I guarantee you if you were the isolate the variables the gain in appreciation(or equity) is likely the highest reason why.
And it's always the ones who aren't financially free to dismiss this, and tell the ones who are what it takes.
I agree. Most real estate investing is not 100% passive. You would need a family office to invest for you. If you have that, you are not buying duplexes anywhere in the world
Post: Out of state cash flowing rental markets
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @V.G Jason:
Quote from @Remington Lyman:
Quote from @Mike D.:
Quote from @V.G Jason:
Quote from @Mike D.:
Quote from @V.G Jason:
You're honestly better concentrating your capital in an above average market(AZ, NV, etc.) and putting more down(yes cash at risk, for you guys that faint on that) or pivoting to equities or an alt source of an investment than doing anything in the midwest.
The math on that does not math. Assume you put enough down on something in Phoenix to reach $0 cashflow and calculate the return on equity, then do the same in the Midwest. Midwest wins every time. In fact if I were going to do the first, I'd prefer to just be in the stock market. Especially considering that you need much more reserves (dead idle cash) when doing these appreciation-focused plays in low cashflow markets.
Phoenix will likely yield a true gain in appreciation. The math more than maths in practicality.
I must ask, do you have something to sell Midwest based?
No sir, I've got things I'm holding onto! I'm not a PM or an agent. I just come here to learn and try to give good advice. My entire portfolio is made up of small family in the Midwest and it definitely does cash flow. I've actually considered investing in Phoenix--I estimate return on equity must be in the low teens at best if you pay it down enough to get $0 cashflow. For that return I don't see why I should be actively involved in something--might as well be in stocks. In the Midwest you can get total return of say 20% without breaking a sweat, even figuring in the lower appreciation. Try running those numbers.
As someone who has no skin in the game I disagree with @V.G Jason. You should not count on appreciation of anywhere let alone someplace that is unbearably hot all the time and has weeds that poke you
Don't make this another Cleveland Bob debate where he walked into that answer.
This is the differential of making wealth versus money, and why too many miss the forest for the trees.
I was kind of joking. Different strokes for different folks. No one is wrong. Just different ways to get to financial freedom
Post: Out of state cash flowing rental markets
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @Mike D.:
Quote from @V.G Jason:
Quote from @Mike D.:
Quote from @V.G Jason:
You're honestly better concentrating your capital in an above average market(AZ, NV, etc.) and putting more down(yes cash at risk, for you guys that faint on that) or pivoting to equities or an alt source of an investment than doing anything in the midwest.
The math on that does not math. Assume you put enough down on something in Phoenix to reach $0 cashflow and calculate the return on equity, then do the same in the Midwest. Midwest wins every time. In fact if I were going to do the first, I'd prefer to just be in the stock market. Especially considering that you need much more reserves (dead idle cash) when doing these appreciation-focused plays in low cashflow markets.
Phoenix will likely yield a true gain in appreciation. The math more than maths in practicality.
I must ask, do you have something to sell Midwest based?
No sir, I've got things I'm holding onto! I'm not a PM or an agent. I just come here to learn and try to give good advice. My entire portfolio is made up of small family in the Midwest and it definitely does cash flow. I've actually considered investing in Phoenix--I estimate return on equity must be in the low teens at best if you pay it down enough to get $0 cashflow. For that return I don't see why I should be actively involved in something--might as well be in stocks. In the Midwest you can get total return of say 20% without breaking a sweat, even figuring in the lower appreciation. Try running those numbers.
As someone who has no skin in the game I disagree with @V.G Jason. You should not count on appreciation of anywhere let alone someplace that is unbearably hot all the time and has weeds that poke you
Post: WARNING: Matt Motil of Cleveland, OH
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @Jim K.:
Quote from @Remington Lyman:
Quote from @Jay Hinrichs:
Quote from @Remington Lyman:
Quote from @James Wise:
Quote from @James Wise:
Update:
Motil pleaded guilty to multiple felonies last year.
Since then there have been several sentencing hearing extension. Looks like Matt Motil's prison sentencing will be happening any day now. HIs last sentencing extension is up.
@Matthew Albert Yeakey @Cecilia Arnulphi @Russell Brazil @Zachary Burkons @John Burtle @Ashley Corbett @Geoff DelGrosso @Mitch Deminski @Reggie Desir @Michael Gansberg @Will Gates @Robin Hines @Michael K Gallagher @Jim K. @Steve K. @John Koster @Rob K. @JD Martin @Remington Lyman @Bonnie Low @Joe Splitrock @Joe S.
Shoot
Too funny.. there are well known countries with no extradition.. Brazil Venezuela
etc etc.. seen this play many times. the 5 to 7 years is what most get..
I choose BRAZIL!
Oh, hell no. I'd do five years and move back to Greece, sneak my savings into a Swiss or Liechtensteinian bank, spend my days on the beach with my adult beverage of choice. Why run to the Third World when five years will buy you a golden visa to Europe?
bruh. Have you been to Brazil? People are as beautiful as the Greeks but they do not have the attitude. Also everything is basically free.
Post: WARNING: Matt Motil of Cleveland, OH
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @Jay Hinrichs:
Quote from @Remington Lyman:
Quote from @James Wise:
Quote from @James Wise:
Update:
Motil pleaded guilty to multiple felonies last year.
Since then there have been several sentencing hearing extension. Looks like Matt Motil's prison sentencing will be happening any day now. HIs last sentencing extension is up.
@Matthew Albert Yeakey @Cecilia Arnulphi @Russell Brazil @Zachary Burkons @John Burtle @Ashley Corbett @Geoff DelGrosso @Mitch Deminski @Reggie Desir @Michael Gansberg @Will Gates @Robin Hines @Michael K Gallagher @Jim K. @Steve K. @John Koster @Rob K. @JD Martin @Remington Lyman @Bonnie Low @Joe Splitrock @Joe S.
Shoot
Too funny.. there are well known countries with no extradition.. Brazil Venezuela
etc etc.. seen this play many times. the 5 to 7 years is what most get..
I choose BRAZIL!
Post: WARNING: Matt Motil of Cleveland, OH
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @James Wise:
Quote from @James Wise:
Update:
Motil pleaded guilty to multiple felonies last year.
Since then there have been several sentencing hearing extension. Looks like Matt Motil's prison sentencing will be happening any day now. HIs last sentencing extension is up.
@Matthew Albert Yeakey @Cecilia Arnulphi @Russell Brazil @Zachary Burkons @John Burtle @Ashley Corbett @Geoff DelGrosso @Mitch Deminski @Reggie Desir @Michael Gansberg @Will Gates @Robin Hines @Michael K Gallagher @Jim K. @Steve K. @John Koster @Rob K. @JD Martin @Remington Lyman @Bonnie Low @Joe Splitrock @Joe S.
Shoot
Post: Out-of-State First-Time Investor – Question About Offering Price on Cosmetic Fixers
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
- Votes 6,916
Quote from @Xuming Yu:
I'm a first-time investor purchasing out of state and had a quick question for those with more experience. When you're looking at properties that only need cosmetic updates (like paint and flooring), do you typically offer close to market value?
I'm trying to run the numbers using the BRRRR strategy, but if I pay market price, it seems like I won't be able to pull out much (if any) of my initial down payment during the refinance. Would love to hear how others approach this—any insights or tips would be greatly appreciated!
Good instincts — you’re thinking about it the right way. If you're using the BRRRR strategy, paying close to market value (even for light cosmetic properties) usually won’t leave enough margin to pull your funds back out.
Even with paint and flooring, you want to buy at a discount to current value, not just future ARV. That way, you're building equity going in, not just hoping appreciation or rent bumps will save the deal.
Some investors only BRRRR on heavier value-adds where they can create more equity. For light rehabs, it might make more sense as a long-term rental with a strong cash-on-cash return — even if you leave some money in the deal.
Post: I am a new investor wanting to do my first investment as a primary home and rental
#3 Questions About BiggerPockets & Official Site Announcements ContributorPosted - Real Estate Agent
- Columbus, OH
- Posts 5,973
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Quote from @Orlando De La Torre:
My name is Orlando de la Torre, and I am a first-time real estate investor with a strong background in construction, inspections, and project management. I’m beginning my investment journey with a strategic focus on acquiring a primary residence that also generates income through house hacking—purchasing a multifamily or dual-use property to live in one unit and rent out the others.
In addition to this primary investment, I am actively exploring low-risk, medium-return opportunities such as tax lien certificates, distressed properties, and other alternative real estate investments that offer long-term value and manageable risk.
My goal is to build sustainable income, grow equity, and gain hands-on experience as I expand into a diversified real estate portfolio. I welcome connections with investors, brokers, lenders, wholesalers, and mentors to help identify quality deals and create mutually beneficial partnerships.
Welcome to BP!