All Forum Posts by: Marc Rice

@Matt Chestnut

You’ll most likely need to bring a partner who has the cash, negotiate the down payment down to a more manageable number, or use a hard money lender who is willing to take a 2nd position lien.

@Susana Minaya

If you find a good agent, they should be able to connect you with a good lender.

@Jenning Yu

Great post! Interesting on the 2001-2003 Houstonian who arranged seller financing on all of those apartments. Seller financing is great! Do you have any idea what was the reason for them to sell?

@Bonnie Low

I don’t personally own any on Ohio State campus but I do help some clients to get them rented. They actually did great this year and the leases for next year are even better since dorms limited population density and allowed sophomores to live off campus (when prior they had to live in the dorms freshman and sophomore year). A 33% increase in tenant supply always helps values and rents!

@Daniel Fridrij

I’d make sure to consider cash flow vs appreciation. You can get easy cash flow in Cleveland, Detroit, Dayton but they’re depreciating relative to inflation.

@Julian Rivera

An owner occupied house hack will always be the easiest way to start. Low money down and great cash on cash return.

@Jessica Williams

Glad you decided to invest in Columbus. It’s a great market with lots of great people.

@Annie Weeks

I do short term rentals in Columbus, Ohio. I personally think this year will actually be great as travel demand slowly picks up, I don't think supply of Airbnb's (sewing that a lot closed their doors when Covid hit) will be able to catch up to the travel demand in time which will allow STR hosts to reap higher prices due to the supply and demand.

@Joseph Mah

It sounds like you’re having a lot of stress focused around that tenant potentially leaving and not being able to rent it at the same price. I’d recommend talking to that tenant first to see if they want to renew and try to get them to sign a new lease. If they don’t want to sign then I’d recommend start marketing the property in advance to try to get it filled up.

In regards to the Airbnb potential, it sounds like your home is zoned as a single family and since you’re technically living in the “property” I would imagine you could Airbnb the bottom section 365 days since you do occupy the property as a whole as a single family. I’d check with someone local doing management there. I manage short term rentals here in Columbus, Ohio so know it may be different.

If you want to stay in San Fran but invest out of state, you could do a cash out refinance or HELOC to use that money in the Midwest such as Columbus, Ohio. Or you could sell your home there, take the proceeds to buy a more affordable one and use the difference to invest out of state in the Midwest.

[Solicitation Removed by Moderators]

@Garrett Schmidt

Columbus, Ohio is a great market that has strong appreciation due to population/job growth as well as solid cash flow. You’d be in C to C- class neighborhoods at that $120k price point but can definitely find 1% rules. Lots of growth and development happening here.