All Forum Posts by: Patrick Drury

@Abhishek Wahi
If you are looking in Columbus I recommend areas like Hilltop, Linden, Eastmoor/ Whitehall, and Franklinton. These are areas where you can cash flow in Columbus because the rent-to-price ratio is favorable. Out of these areas, Franklinton and Linden are seeing some of the most developments. With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood. Of that 50M, 25M was allocated for the construction of a new recreational faculty that has since been completed. Franklinton has been seeing lots of developments like the completion of Gravity Phase 1 and phases 2 and 3 on the way. As well
as the peninsula development which is home to the Junto Hotel which has a rooftop b'ar and the one peninsula apartment building. Franklinton is also home to new coffee shops like Bottoms Up Coffee. You can also find small microbreweries like Brew Dog and Land Grant in Franklinton. 

@Kyle Carter
Wherever you decide to invest make sure the property manager is familiar with section 8 and manages section 8 rentals currently in that area. The property manager is the key to your sucess if you are investing out of state in section 8 rentals. They will help you guide you through what needs to be done and schedule inspections. 

@Julie Philpott
If rentals are not priced adequately for the location and condition they will take longer to rent. In terms of the condition maybe the landlord didn't add AC or went with LVP and carpet over hardwoods in an A location. Whereas all the rentals in the area have hardwoods and AC to get the same amount of rent. It could also be that you are looking at rent comps over a major street like Parsons and are using them to compare different locations. 

@Guy Keren
Most of the homes in the midwest markets are going to be older usually built in the 1900-1940's or maybe even older depending on the neighborhood. Just like anything it comes down to doing your due diligence and inspecting the property before you buy it so you are aware of the age of the capex and all the mechanicals. 

@Joey Navarro
Columbus is a great place to get started house hacking in

@Sandra Feurtado

I would recommend being in areas on the West Side of Cleveland like West Blvd, Cudell, Old Brooklyn, Clark Fulton, Edgewater, Jefferson, and Brooklyn Centre. The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

@Srini Malempati
Linden is a solid area for cash flow and it's proximal to downtown. The community in Linden rolled out the ONE Linden Plan which was a 50M plan to improve the neighborhood. Of that 50M, 25M was for the construction of a new recreational faculty that has since been completed. The ONE Linden plan also included improving the parks in the Linden area as well as various other programs. 

@Michael Russell
1) If you are a veteran, a VA loan would be a great option. The only thing to keep in mind is you need to owner-occupy the property if you buy the property with a VA loan.

2) If you plan on living in one unit self managing would be the best option. Zillow rental manager is good for putting things up for rent. Make sure to provide prospective tenants with the criteria of what you are looking for. To save time, I would do open house-style showings a couple of times a week. 

3) It's entirely up to you what you want to do with your life. No one can make you want to own 100's of doors and manage a large real estate portfolio. For some people they are good with 5 others just can't stop buying real estate. 

@Charlene Isoh
You won't need an appraiser unless you want one done. The bank will order an appraisal as a part of the loan process. 

@Cesar Garcia

I highly recommend getting a property manager 

1) Your PM would be the coordinate with your agent on how they can get the keys from the listing agent/ seller. If the locks need to be drilled they would need to coordinate and set that up.

2) The property manager would be the one that holds on to the keys. 

3) You would have a leasing agent show the property from PM. If you are deterimted to not have a PM you could pay someone to open the door and hold leasing open houses like 1 once or twice a week.