All Forum Posts by: Remington Lyman

@Joseph Mattucci Let me know if you travel a little farther south to Columbus.

@Pope Lake I cold call, find a person who wants to sell, do my due diligence, agree on a price, sign a purchase contract, send the contract to the title company, do an inspection, get financing (in this case I used my cash), close

@Joshua Fields I got my real estate license after I had my first 10 units (a duplex and 2 quads). This totaled $817,000 which gave my Realtor a nice commission check. I am in contract on another quad but that is an off-market deal so I will not even collect a commission. In fact, I will need to pay my broker $500 to purchase it.

I obtained my license to learn more about the industry and provide value to investors looking for property in Columbus, Ohio. If you are getting your real estate license just to save the 3% on the deals you are picking up, I would not say it is worth it.

Hey @John Allen. 2-4 units were great for me when I first started investing in real estate because I could owner occupy my duplex and 2 quads (soon to be 3 quads). This allowed me to put a little money down and get an amazing interest rate. Now that I am building equity quicker (and do not have W-2 income) I am looking at any multi-family property 4+ units. If I were you, I would find a broker or agent that can bring you <12 unit building deals. I, unfortunately, have no experience buying into a professionally managed syndication.

@Rigo Monzalvo I agree with what @John Manner says about just putting in the concrete carports. @Peter Lohmann @Mitch Deminski what are your thoughts on the rent potential difference between the 3 different options?

@Justin Reyes It just depends on how good the deal is. Liquidating your 401k can cheaper than borrowing hard money. I know investors here in Columbus, OH that borrow hard money all the time. I have leveraged myself and used my cash so far but if I keep finding deals I will start borrowing hard money.

@Chase Clemens Sub-metering can also help you track if there is a leak or running toilet in a unit. I know one investor that tracks the water usage and will investigate if something is amiss. I have yet to submeter my 2 quads and duplex but I will probably get around to it when my plumber does not have a lot of work to do. It is significantly cheaper if you install the meters yourself.

@Derek Diamond If you need any help finding deals in Columbus, OH feel free to reach out. I am a Realtor, property manager, and investor in Columbus, OH. Please let me know if you have any questions or if I can help you with anything.

@Ryan Crofford If you end up doing any work in Columbus, OH please let me know.

@Dennis M. I could not agree with you more. Are my quads that I paid $230,000 and $247,500 for really going to be worth that much less when a recession hits? I cash flow $1,500 on each of them. I think any investor would buy them from be regardless if we are in a recession or not.