All Forum Posts by: Kyle Neff

I am open to investing in Columbus for the right deal!

@Jon Hill

Thank you for posting and I love your goals! Stretching yourself is always a good thing. Do you write down your goals in a certain way? Do you keep them in front of you or close by at all times? I want to format my goals in the next few days for 2020 and am curious what has worked for others.

The one thing I will say is that my fiancé and I planned in March of this year to acquire at least one investment property this year to cash flow at least $200/month. I’m happy to report that we squired three properties, for a total cash flow of around $3500/month.

@Benjamin Greene

I believe many banks consider 75% of the total mortgage for rents as far as your DTI is concerned. That's what a few financial institutions here locally have reported. If that's the case in your situation, you should be in the clear since your rents are covering 100%+ of the mortgage. Can you try a different lender to compare?

Hello BP Fam!

My family and I recently relocated to Cincinnati, OH from Atlanta, GA so that we can accelerate our REI. We are both originally from Ohio and had discussed possibly moving back at some point even before we started investing here.

While living in Georgia we started to buy a few small student rentals in Cincinnati and hired a great PM to handle the management piece. After seeing great returns and even more room for future growth in Cincy, we decided to move here to get engrained in the community, network, and get to know the city on a more granular level.

We both love it so far and are looking to connect with like-minded individuals here, particularly other investors, lenders who specialize in REI, Property Managers, Meet-ups, etc. Really anyone who is interested in Real Estate investing and wants to expand their network, I am eager to meet people, learn, and grow.

If you are in the Cincinnati area or know someone who I should connect with, I would greatly appreciate you dropping me a line! We are interested in both residential and commercial properties, so lenders of both would be great. Look forward to connecting with folks here on this awesome platform!

Hello BP Community!

My fiancé and I are looking to relocate to Cincinnati, Ohio and get into an owner-occupied property so we can accelerate our savings and in turn, our REI. Our timeline for this is (hopefully) by the end of this year which is quickly approaching. There doesn't seem to be much on the MLS right now so we would appreciate ideas / creative approaches to helping us find a property that we will enjoy for years to come. Look forward to the feedback!

Hello BP Community,

My fiance and I are planning to continue renting out our townhome as long as we don't need the money for other investments. It was our first home and is in a prime location for appreciation, great schools, and accessibility.

We have rented to and shown it solely to families up to this point, only because they have been the only applicants. Recently we had three unrelated friends apply to live together in the unit. 

My question - should we have them all sign one lease together at the advertised price, or should we have them sign three separate leases (since they are unrelated) and increase the rent on each individual? i.e. we would rent the whole place on one lease for $2500/month, or do 3 separate leases and charge each $900/month.

Are there rules or laws around this? Look forward to everyone's thoughts!

@DuBeaux Dingle

Great post and I have wondered the same. Just listened this morning to the Michael Blank podcast, EP 164 where they talk specifically about this. Might be worth a listen - there is an industry veteran Bob Helms who provides a lot of perspective on this very subject. 

@Jake Kinoshita

Thanks! I will consult my lawyer and accountant for sure, but good to know there are many options. Do you do the bulk of your investing in NJ?

@Dan Perrott

Thanks! Good to know there are easy ways to do it. Ultimately I will probably re-invest 100% back into the business for awhile but need to start getting familiar with all the moving parts. 

Hi @Jake S.! Thanks for your reply!

This is what I had heard from others but never hurts to get a 2nd (or 3rd) opinion! Ultimately I will consult my REI lawyer and accountant but good to know it can be done simply. Thanks for the encouragement!