All Forum Posts by: Anne Marie Kodama

@Jon Schwartz  I second your recommendation of Columbus and Remington.  We purchased two units on a lot in April and under contract for 2 duplexes right now.  The market is hot and very competitive, but there are good deals in Columbus.  

@Mikael Winkler

They charge 1% of the total project costs for project management.

At this time, we will use the property manager to project manage the rehab, but may move to hiring our own contractor in the future.  Definitely easier to have a project manager when investing out of state, but it does cost additional for the work.

As an OOS investor, I believe you can be successful with the right team in place.  I am currently investing in Columbus with an outstanding team. I purchased, rehabbed and leased my first property in less than 3 months.  My son is currently under contract for a duplex in Columbus as well.

@Susan Tan  Congratulations on your new properties.  We closed on two units in Ohio 10 days ago.  Hoping to start the rehab in a week or two.  We signed all our documents via docusign from the title company in Ohio.  

Glad you were able to close within walking distance.  Good luck with the rehab!

It was a bit late, but I received all my rent for April.

@Kyle J.

W-2 income is charged at the highest income rate. Yes, you may pay income tax on the investment income, but there are so many tax benefits, which dramatically reduce your taxable income. I have owned a SFR for 9 years. Due to depreciation, etc., I have never paid income tax on my rental income. In fact, I have a loss every year which reduces my income tax on my W-2 job. This is why so many wealthy people are real estate investors.

@Todd 

@Todd Powell I'm a few years older than you, but getting ready to retire as soon as my twins kids graduate from college.  Remember to reduce your monthly income by the amount of taxes, which you will no longer pay.  So if you usually pay 25% in income taxes, you can reduce your monthly income by that much and still have the same amount of money to live on.  If you earn $5,000 a month in your w-2 job, you only need $3,750 in cash flow to maintain your current life style.

Good luck!

It is exciting to see so many successful BRRRRs in Columbus. We are hoping to do 2-3 SFH deals this year in and/or around Columbus. I am hoping to take a trip to Columbus to get the lay of the land. I would love to meet up with some of you while I'm out there.

@remington 

@Remington Lyman We are in the middle of a refi on the Fairfield property and working on our income taxes.  I will being interviewing agents over the next couple of weeks while the refi is completed.