All Forum Posts by: Patrick Drury

@Account Closed 

Yeah well, buying with no money that's not possible Chief figured he could learn from how another 19yr old bought a rental and do those things because buying with NO MONEY is NOT possible.

@Orion Hernandez 

Hey Orion I recently bought my first rental property in Columbus OH at the beginning of February, and I am 19 years old. I purchased the property as a buy and hold. The purchase price was $77,000, and the loan was 15% down on a 30yr fixed conventional at 3.75% interest. The down payment was $12,872.37 + $1,000 closing cost = total of $13,872.37. To buy the rental property I worked all of highschool and saved up $17,000 approx and got a credit card (Discover it secured) senior year to build my credit. Since I had a restaurant job for 3 years, I had 2 year's worth of w-2 so that wasn't a problem. Since I had no expenses saving the money was easy since I lived at home all expenses were covered. I also purchased the rental property with a tenant, and I still had enough capital to make renovations as needed and not be sweating bricks yet at least I'm still new. I hope my sharing how I bought my first rental can help you figure out how you're going to buy yours. Good luck man

@Jeff Hastedt

Two major components to making Columbus Ohio so good for real estate investing are definitely the job opportunities and population growth, which are driving real estate prices to the moon like the GME. Have you yourself thought about investing in Ohio or just curious?

@Arisbel Martinez

Hi Arisbel investing in Ohio would be a good idea more specifically central Ohio to invest it’s a crazy market right now. If your looking for a realtor in Columbus I would be more than happy to help you, we work with out of state investors from California all the time. Just send me an email and let’s go from there.

@Josh Deeden That's exciting Josh, moving from California is a good idea putting yourself in a better market to make more money with what you have. As for where to, Texas would be a good idea, but I also recommend considering Columbus, Ohio, Columbus is a fast-growing city with a housing market on fire. At my brokerage, we often work with out-of-state investors from California that really enjoy investing in Ohio. Hope that can help you out in figuring out a new location. Best of luck Josh whether you come to Columbus or go to Texas. 

Hi, @Steve Peterson I am a Realtor in Ohio and at my brokerage, we often work with out-of-state investors from California investing in Columbus. So I definitely understand what you mean when you say you can't find almost anybody to loan on a rental property with out-of-state ownership in Ohio. If you would like, I can send you the lender I use and he does loans for out-of-state investors. 

@Remington Lyman

You got a point there Canes might be better than a cardboard box. Need to start righting that in to my deals contingent upon a canes box combo at closing for buyers agent and buyer.

@Diana Dorantes

They are for both homeowners and investors. The investors that are buying are still cash flowing here in Columbus.

@Diana Dorantes

Having a hard time finding good deals definitely sounds about right with an overall shortage of housing especially in Columbus which is crazy right now as @Marc Rice stated making it more competitive and leading to most properties flying off the shelf like hot cakes.