All Forum Posts by: Michael James Rutter

@Drew Sygit Very good info in this article. Read and understood.

I may be looking to put my first SFR up for rent. Does anyone know of good property management in Springfield, OH?

My girlfriend and I are looking to buy a duplex/triplex located in Troy, OH in the next 6 months. Is anybody familiar with the market?

I definitely recommend refinishing your hardwood floors. If done right they can add more value than putting laminate or carpet down. I refinished mine in my first live and flip. I rented a random orbit sander from Home Depot and some different sized grit sand paper. Running the sander is a little weird at first but you get used to it. Just make sure ALL the dust is gone before you apply the stain and polyurethane, and make sure you apply the stain in all connecting rooms at the same time. It’s really rewarding to see it when it’s all done! Even after just sanding!

I’m 20 years old and I just bought my first single family with my girlfriend in Springfield, OH. We are currently house hacking bringing in $500/mo towards a $600 mortgage. Tenant pays trash. We plan to fix it up a bit and move out in a few years. The basement/garage will be a separate, finished unit to allow multiple renters (aiming for college students as the property is 2 minutes from Wittenberg University). We hope to get $1,200/mo after moving.

If I wanted to make a $200k purchase as a first time homebuyer with the intention to house hack, would it be smart or even doable to take out a loan for the down payment as well as the mortgage? The reason being that the time it would take to save for the down payment would take a while and I would like to get something as soon as possible. Thoughts?

@Frank Patalano

I’ve been told many times that I don’t have enough money to invest in real estate or that the economy is going into a recession soon. These are the two things that hold me back the most. I want to find a way around both of these things because that is what a good investor would do. I have thought to have solved the problem quite a few times, but something always shoots me back down.

@Greg Dickerson

This is extremely exciting information. Thank you so much.

This will be my first time investing in real estate. I would greatly appreciate any advice from anybody. Is it more wise to have a buyer lined up before getting the deal? How does the financing work for all three parties?

I was recently told that wholesaling no longer has its place in Columbus like it use to...just curious about why that might be.