All Forum Posts by: Simon Ashbaugh
Simon Ashbaugh has started 0 posts and replied 837 times.
Post: Finding my intro to real estate investing
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
Quote from @Zihan Huang:
Hello,
I am currently trying to find my intro to real estate investing. I make about 89k a year and I have about 20k saved (~10k in bank and ~10k in ETFs). The main issue for me right now is that I live in NYC and if I want to invest in a property here, I do not have enough saved up, and I do not make enough. I have also considered purchasing a property in another state (Texas) and hiring a property manager, but I am not totally sure how that works. What is your advice on how I should get started with investing in real estate? Thanks in advance :)
Definitely read the article Patrick linked. I recommend starting with the agent, as a good investor-friendly agent should be able to provide you with the other three. As for markets, take a look at Cleveland OH, it cashflows very well and is really affordable.
Post: Personal experiences in the “bad” neighbourhoods ?
- Realtor
- Columbus Ohio, Cleveland Ohio
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I spent 10 years in remodeling, the latter half of that doing buy-hold rehabs. Many of those were in those areas and I never had issues. One guy left his nail gun in the alley and it walked off, but I've seen that happen in A-B neighborhoods too. I've never feared for my safety though.
Post: Following the 1% rule
- Realtor
- Columbus Ohio, Cleveland Ohio
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The one percent rule is just a quick metric to estimate a property, and I find, in most markets, it's a little better suited for MF. Generally, you will pay around $7 per thousand dollars borrowed. This may be an easier metric to judge a SF property.
Post: Is leverage still a good thing?
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- Columbus Ohio, Cleveland Ohio
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- Votes 829
Interest rates are expected to fall again middle of next year, maybe run a set of numbers with that factored in. MBA is forecasting mortgage rates to end 2023 at around 5.4%. Something to consider.
Post: Is a Cash out refinance a good idea in my situation?
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
Why pull the full 800k out? why not only pull what you need for a down payment or two in a high cashflowing market like Cleveland Oh?
Post: 400K CAD to invest. What are my best options?
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
Quote from @Don Henderson:
Hi all,
I am a Canadian Real Estate Investor. I have 2 properties currently and I'm sitting on about 400K CAD in cash. I've been looking at multiple different options to invest in. Specifically, I've been looking at Quebec for cash flow purposes but I've read landlord rights are terrible there. I've also been looking out East in NS and NB. I've also looked in Florida, and Arizona but financing and the currency exchange is tough right now to justify investing in US.
Any advice on next steps or locations?
Thanks in advance
Don
If you want cashflow, look at Cleveland Oh. Low entry price, high cashflow, 400k could go a long way.
Post: Cities for multi-family
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
Quote from @Calvin Cheong:
Narrowed down to multi-family. Looking at Dallas, Austin, Atlanta, Nashville, Memphis, Charleston. Be interested in hearing from folks with direct experience in those markets. Would love some suggested zip codes to run some research. Hold period 5-7 years. Thanks!
With a hold period of 5-7 years, you should look into Columbus Oh. With Intell coming and our rate of appreciation, I think that's a good sweet spot for this market.
Post: First investment property
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
Congrats on the deal!
Post: Which one of the core 4 to look for first?
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
A true rockstar realtor should be able to give you contact info of the others, id start there!
Post: 👀 What is your vision for the long term?
- Realtor
- Columbus Ohio, Cleveland Ohio
- Posts 849
- Votes 829
Short-term goal (say 5 year) is to have enough passive income to pay for my living expenses. Long term is to have multiple billion $ worth of real estate.