All Forum Posts by: Remington Lyman

I recommend talking to people with some experience how often the due-on-sale clause has been actioned by banks on performing notes. Also, it depends on how you purchased the property. If you claimed it as your primary then most lenders advise that you wait one year before transferring them into an LLC since you are supposed to live in it for 6-12 months.

Chances are that you pierced the corporate veil when you initially purchased it under your personal name. It is hard to go in front of a judge and say you did not intend to use it for personal use when the title was initially transferred to you personally and not your LLC. Just do not get sued by someone with enough money to afford a good lawyer.

I am not sure about the LLC filing regarding out-of-state purchases as I only have properties in Columbus, Ohio and I live here.

@Paul Eckelberry I agree with Adrian. I would look into getting a HELOC and then rent your place out. You can get more out if you are currently using it as your primary residence. Then as soon as you rent your property out a lot of lenders will use 75% of that lease towards your debt to income.

Hello @Xiaoxin Shawn zhu! Welcome to the community. I am doing the BRRR strategy in the 43202 zip code, Old North Columbus. Please let me know if I can help you with anything.

@Anna Boguslavsky Columbus, Ohio is a great place to invest in real estate. Many out-of-state investors are investing in this market. Please let me know if you have any questions about my market.

I cannot speak intelligently about Detroit, but I know Columbus Ohio has been great to me. I have found deals that cash flow well and have appreciated over the last few years. I think the city government is fully behind facilitating population growth. They are taking on initiatives like Columbus 2050 to tackle the mass-transit issue. There are new companies constantly coming in and the ones that are already here are expanding. If you have questions about Columbus please ask me.

@Joshua Myers He is adding it for his own use.

@Irina Belkofer If you want to send me a message I will give you my loan officer contact at Huntington. I do not have their map but I am sure he can help you out!

@Derrick Wortman you could see if a hard money lender would be able to help you out

What are fellow Ohioan's thoughts on all the out-of-state money coming into Columbus? I love all the investment going into the city. It is amazing what High Street looks like now vs when I started undergrad The Ohio State University 7 years ago.

@Daniel RiveraI think S4RE, RL Property Management, and Panzera are the best property management companies in town. If you are investing in low C to D neighborhoods, I would suggest Heart and Home. I do property management but I primarily stick with my own investors or places close to my home.