All Forum Posts by: Edwin Rivera

@Jimmy Lieu I think I Agee with Ed. I know I am a super noob in the Columbus market, I have only 3 SFH and been buying since 2021 but saying an investment is good if it $100 a door, is something I disagree with.

My metric I use is cash on cash return. It is all about how hard your money is working for you. If you are making $100 dollars and invested $1,000,000. I think we can agree it is an awful investment. But that is just my opinion.

@Marceline P. I have been investing in Columbus from afar, I am in you neck of the woods, I live in Manhattan. I currently have 3 rentals in Columbus and 1 in Cleveland. I have been investing in SFH in C class areas for almost two years. Reach out if you want to chat.

@Robert Ellis Thank you for this insight. This thread was helpful.

@Aasim Ali I am new too but my guess is that I needed to put money aside in an escrow account for the future repairs and document that in the closing documents of the purchase. My lender is now telling me I have to wait a full year to do my refi. I will reach out to other lenders to find out.

@Rob Gillespie

I recently bought my first property in Cleveland, SFH, in June. I rehabbed it, rented it out and I waited six months to do the refi but after I paid for the appraisal and was ready to sign the doc for the loan this Tuesday, I was told they can't do the loan now because the repair cost were paid outside of closing. I was told I have to wait to June to do the refi. So my challenge is learning the process but I am not discouraged. I will keep on trucking on.

@Ryan Ellis I would love to hear about your experience with sandstone realty. I am considering using them.

@Steven Taylor I know you are a PM and investor in Lorain but do you have a real estate agent you work with?

@Michael P. It seems like that population has basically flared out, it has only lost about 4K in two years.

@Luke Terry I was ready to pull the trigger on investing in Cleveland but with that information, I have to reconsider. I wanted to BRRRR also.

@Federico Gutierrez, thank you for the advice. I will do my best.