All Forum Posts by: Ashley Cross

Connect with @Remington Lyman! He’s an investor and great agent that works with a lot of out of state investors. 

Start with getting pre-approved so you have an idea of your maximum purchase price and an estimate of your mortgage payment. After, get as much info on the neighborhoods via google & the market experts. Then, get with your agent & start writing some offers! 

The easiest way to get started is to house hack. Columbus is a great market to start investing in a househack. I’ve assisted a lot of clients with this and they’ve continued to acquire more properties with this method. Is there a reason you are looking to start out of state? 

Instead of trying to do a second home loan or primary home loan, you can us conventional financing for an investment property which allows 15% down. You're going to have to pay PMI but in this scenario you can use the appraiser's opinion of rent to offset the mortgage. The next hurdle will be pinning down the average rents in that area which may be tough. Another option will be bringing a partner to the table if you can find someone with high income and great credit that is willing to partner.

I second @Darius Ogloza. Something may cash flow on paper until you have a small leak in your home that you are unaware of for over a year & the house starts to get mold. *Speaking from experience*

Great deal & long term goal! 

Having boots on the ground is extremely important. I second @Casey Christensen. @Remington Lyman is a rock star! He has the people and processes to get the job done for out of state investors. 

I lend in all of Ohio and invest here in Columbus. I work with great agents in both areas that are very knowledgeable. Feel free to PM to further discuss. 

I own a couple of duplexes in Columbus and looking to purchase another and they're all metered separately except for the water. The tenants can be responsible for all utilities. However, the water will be in the owners name. For one duplex I cover it because I just accounted for it with the rent. But for other properties, I charge the tenant.

I'm always looking for new contractors. PM your info.