All Forum Posts by: Marc Rice

Even South Fulton? 

I live in California (North Bay region) and I own a SFH here and I am planning to invest out of state. I have a budget of around $250k. I'am considering Arizona , Nevada or North Carolina for investment . Which among three ( townhouse or condo or SFH) is better for appreciation and cash flow and property management will cost low among three? I'am considering these states as property tax and tax are low in the states and my husband did his graduation from Arizona and Nevada is closer to where i live and North Carolina is in my mind without any specific reason:) .

I and my husband does not have any relatives or friends in any of the states, so we don't have pretty much any idea about the market in any of the states. We are doing  online research about the market and decided t invest in these three states, and if we find any good deals we may invest another $200k in the market in the coming months. Is it a good idea to buy a duplex as a first investment or different real estate properties ?

Stabilized, off-market, single-family rental portfolio for sale. Great ROI. Properties are updated and 100% rented. Details can be shared if interested. Priced for quick sale. 9 Properties included. $835,000 NOI $101,403. The managing member of the LLC is a licensed real estate agent in Ohio.

Greeting BP,

Curious to hear some general thoughts on how high is to high for home prices. Im looking in the Westerville area of Columbus and some duplexes are going for 400k. How realistic is it to expect much appreciation on a property that high already? With rents as well in the $1500+ range how high is too high before people just cant afford it in Columbus? I know Intel is expected to bring wage growth but can we really rely on that as fact? Even so, how much could that really impact?

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OK I am going to do it.. Columbus Ohio. 

Hello all,

I bought my first rental property in Columbus OH using the BRRRR method and money from my HELOC on my primary residence. I am now trying todo a cash out refinance to pay off my HELOC so I can repeat the process. I could get all my money back out (except closing costs) if I did a 80%LTV, however that would be at a 9% interest rate unless I decide to buy down the rate. I would still be positive cash flowing, but just barely. My other option would be to do a 75% LTV at 7.5% interest, but I would have to come up with $20,000 to pay off my HELOC or carry the balance on my HELOC and pay interest on that as well. My goal is to keep this property long term, refinance in maybe 3 years when interest rates have hopefully come down and my property has also increased in value.

Thank you for your help! - Inga

Hi everyone,

My husband and I have been exploring the idea of expanding our real estate portfolio, which has primarily been in Southern California. We are interested in investing out of state, with the goal of generating consistent cash flow. While appreciation is always a nice bonus, our primary objective is to build a portfolio that also yields reliable income over the long term. With that in mind, we are particularly interested in exploring opportunities in Columbus, Ohio, and would love to connect with those who have firsthand experience investing there. If you're someone who has ventured into the Columbus market, I would love to chat and hear your thoughts on what your experience has been like. Looking forward to connecting with you.

Hey BP, 

I'm in the market to buy my first multifamily house hack within the next few months. I got pre-approved for $300k but I'm having a lot of trouble finding properties. 

Nothing on-market makes sense as expected. But even at my ideal purchase price, I'm having trouble making the numbers work. I'm taking the most conservative percentages for all of my monthly reserves but I'm not budging on these because I'll never skimp on my numbers to make something work. 

House hacking makes sense to me as long as I'm paying less than I would renting while I'm living there. The problem that I'm having is that I can't get anything even close to breaking even AFTER I move out. 

Would love to hear from anyone's personal experiences on how to navigate this. Should I further expand the radius that I'm looking? I'm trying to stay within 25-30 mins of Cleveland due to work considerations. 

Thanks for any comments!
 

-Ben, aspiring multifamily house hacker