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All Forum Posts by: Alfath Ahmed

Alfath Ahmed has started 21 posts and replied 783 times.

Post: Ohio Rookie Next Deal

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Lucas DeAndrade:

Hello fellow rookies!

Current situation I have a primary residence in MA and a SFH home LTR in Akron currently on a 1 year lease.

My question is… do I look in the same area Akron for my next deal? Either SFH or small multi? I could move over to Cleveland to use the same property management for a similar deal? I'm comfortable with these areas for now. Low entry and breakeven deals +- some cashflow. I'm in it for the long haul.

What would yall do? Open to suggestions.

Little about me I have a relatively higher paying public service job. My buy box is turnkey sfh 3/1 or small multi newer major utilities and roof. Purchase price max 120k$

Looking to purchase in the next 6-12 months

TIA


 I would definitely look into Cleveland. I am currently selling a few 1.5% rule deals under $130k (duplex) deals in cleveland. There is a ton of opportunity off-market.

Connect with an out of state investor agent that has a team that can cold-call.

Post: Californian new to REI - looking for out-of-state rental property

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Ben Callahan:

Hey everyone! Nice to meet you (electronically).

Currently renting a single-family home in a very expensive coastal Southern California city. Not able to buy in this area without going house poor. Not able to move (at least for a while) due to my job.

Looking to use savings that would’ve been for a primary residence down payment to invest in rental property out of state.

Would love to make connections, hear thoughts on good markets to look into, strategies to maximize return, etc. 

Happy to answer any questions and excited to chat with you all!


 Hey Ben, you should consider the Columbus market. There's been significant growth in the last 3-5 years, with booming business and real estate sectors. Companies like Intel, Amazon, and Google are investing here.

I own all my investment properties in Columbus and work with many out-of-state investors from both coasts who love the turnkey and BRRRR opportunities here. I can share resources like a neighborhood-graded map and contractor rolodex with you!

Post: Ohio Credit Union Lender

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Christopher Boshae:

Does anybody have any recommendations for credit unions that lend for investment properties? Looking for some great rates!


 Hey Chris, I have some good credit unions that can lend on single and mid-to-large multi-family. A lot of it will come down to your investment portfolio. 

You might be looking at low to mid 7s.

Post: Help! Out of State Investing in Ohio

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Grace Purugganan:

Hello! Does anyone know of a dscr lender that will allow for seasoned money for a down payment and a really good property manager in Ohio specifically in Columbus, Cin, and Cleveland?  My goal this year is to go from analysis paralysis to taking action. So any information will be very much appreciated.  Thank you! 


Hi Grace! I can get you connected with my lenders for DSCR. I'm seeing 7.25 to 7.5% and 1.5 to 2 points with some lenders.

For property managers, I have good PM referrals in Columbus and Cleveland that I refer all of my clients too. I can send you their contact info.

Quick Tip - I would start with a range of offers (lower-end), that usually helps my clients get out of the analysis paralysis phase. Hope this helps!

Post: 2-4 Family With Cash Flow

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Matt Schreiber:

I know this is a common question but wanted to hear specifically from investors or realtors that are seeing MLS cash flow for 2-4 unit properties. I've only invested in STRs and was looking to get into small multi-family but haven't seen anything that made sense in any of the markets I invest in so was curious where people were seeing good opportunities.


 Cashflow is going to be the strongest in Cleveland compared to other ohio markets. If you are buying on-market, you are looking at 1-1.5% rule deals. Off-market, I'm seeing 1-2% rules. I prefer Old Brooklyn, Cleveland heights, Euclid, edgewater, etc. 

You can find a ton of cash flowing 2-4 units. If you want to buy STR or MTR, i recommend buying next to hospitals there or near strong economic bases.

Post: Renovations in Columbus OH

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Gil Levi:

Hi, Everyone!

We are looking for recommendations for a reliable GC in the Columbus, OH area. We looking for someone who`s Investor friendly, and can deal with a project from A to Z, and can go and estimate the cost of repairs for properties that we may be purchasing.

Your recommendation is greatly appreciated!


 Hey Gil, I've got 4-5 contractors here in Columbus that have done my projects and my clients as well. If you want to message me privately. I can share their contact info.

Post: Investing in Ohio-Specifically Section 8

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Nicholas Nakamura:

Hello everyone!

New here to the forum and I am currently looking to invest in Ohio for the purpose of providing section 8 housing.  I have about 1

$110K to invest, and I am looking to invest in the next few months.  Any and all guidance is greatly appreciated.  Thank you!  Looking forward to the journey ahead....


 Section-8 investing is great. The standards have changed. They are now renting by the zipcodes. I can send the section-8 standards per zipcode. You will average about 0.8% rules here in Columbus with section-8 rents.

Post: neighbourhoods to focus in cleveland for multifamilies

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Srikanth Kumar:

Hi Everyone,

I'm relatively new to long-distance investing and am exploring the purchase of multifamily properties in Cleveland. My primary focus is on the BRRR method, with a greater emphasis on appreciation over cash flow.

For those with experience investing in Cleveland, I’d greatly appreciate any insights on neighborhoods worth focusing on. My budget is in the $200-250K range.

Please feel free to let me know if additional details would help, and thank you in advance for your time and advice!


 You are better of buying duplex deals on the west in areas like Brooklyn, Tremont, Cudell, etc... That will fit in your price range. I put together an investor package that has info on Cleveland markets and different strategies. I also have a neighborhood map and contractor spreadsheet that I can send your way.

Post: Setting up LLC in my State or out of State

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929
Quote from @Guillaume Vidallet:

Hello,

I will be closing on my first investment property in a few weeks in Buffalo NY and looking to acquire more in 2025 in different states (ohio, PA, Michigan), being a Florida resident, which state should I create my LLC in? Should it be a parent LLC to other LLCs for each properties? Thank you for your help!
Guillaume


I would not make too many LLCs unless you are aggressively buying property since you have to file taxes on every LLC. This makes your expense go up. LLCs do offer a lot of protection. If you own property in Ohio, I would use an Ohio LLC. You can have them tied back to a Delaware or Wyoming LLC which has the most anonymity.

I can share an attorney that makes LLC

Post: Single-Family BRRRR next to Nationwide Children's Hospital in Columbus

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 814
  • Votes 929

Hey Michael, I network with many agents in Columbus. I've sold around 70 homes this year with 40 agents. Just doing work together and building a relationship allowed me to ask other agents for deals that their sellers want to off-load. This is how I found this deal. 

It was an out of country investor who was wanting pull his money. It was a nice good payday for him as well.