All Forum Posts by: Account Closed

Welcome to the Columbus market.

Yes the market is hot right now, I wouldn't plan on finding any deals on the MLS even if you do have cash.

You can find deals by doing your own marketing for off market deals but that's a huge investment of time and money.  You could hookup with some local wholesalers but the good ones already have solid buyers who they know make fast decisions and close fast.

I pay cash for rentals and flips until I refi the rentals because it gives you leverage over other buyers using financing or wholesaling.  We tell people we can close in 2 weeks so we need to be able to do that.

It takes 6-8 weeks of rehab then another 6-8 weeks after listing for the banks to approve the buyers, underwriting, etc.

Hi,

Welcome to BP!  I am a local agent here in the Columbus area.  As stated above, the market here is slim picking for good flipping deals.  You dont need to be licensed to buy, rehab, and re-sell properties here.  A good flip deal could be in ANY area here.  Cash is always king, especially for faster closings. That is very appealing to a seller. The 3 1/2 percent down usually only applies if YOU are going to occupy the home. That might work for the first deal, or if you only buy and own one at a time. Otherwise its 10-20% down for investment properties. Paying cash vs financing is truly up to you, based on how much cash you have on hand as well as the price range of the property you are buying.  Since rates are so low, I say use your cash for the minimum down payment and the rehab costs. Send me a pm if you want any other suggestions or help!  Good luck, its still such a hot hot market here!

Hello  and welcome to BP!  Your goals will answer some of yoiur questions.  Unless that state requires it you do not have to get a license to be an investor.  I have heard differing opinions on that but I think you can budget to pay the outgoing commission so you can focus on what is income productive.  It is true that you may learn more but is that worth what you have to pay and disclose as a licensee.  It usually takes an average of 6 months to do a flip from beginning to end.  I really do not know too much about Ohio except how to find it on a map.  But you should do some research and you should go where the competition is making money.  Now-a-days it is better to use cash because you can usually close quicker and the sellers tend to like that.

It takes some of your own your own business and varies with your financing.  Some financing pays for flipping house renovation.  Like "house hacking" is just one way to go and it will 

Lets chat! I am an agent in Columbus, as well as an investor. Our market is on fire!