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All Forum Posts by: Remington Lyman

Remington Lyman has started 27 posts and replied 5184 times.

Post: What are your Real Estate Investing goals in 2025?

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Michael Diossa:

@Remington Lyman Do you feel Single family is a better return on investment than Multi's in Ohio.


When all is said and done, the numbers are often much closer than people realize. With single-family properties, you typically encounter lower expenses, longer tenant stays, and more reliable tenants, especially in C-class areas. Many novice investors focus on scaling their portfolios quickly and overlook these important facts.

Post: What are your Real Estate Investing goals in 2025?

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Mackay Oakey:

What are your REI goals in 2025? Are you looking to buy your first investment? Use PassivePockets and invest in a large syndication deal? Do you want to sell off some of your units? Get into glamping?

I'll share first: I plan on spending the first bit of the year saving for my next deal--I'm looking for a SFH somewhere in the midwest to long-term rent. Still open to market ideas (so if you have any ideas, please share!) but mostly considering Ohio or Indiana at this point. Open to any advice here too

I want to sell my underperforming assets to reduce expenses. Currently, I have a little over 100 properties and am starting to notice trends. I am interested in purchasing more triple net leases because I now have more capital. These types of investments require minimal management and also provide significant opportunities for cost segregation.

Ohio is a strong market for purchasing single-family homes (SFH). I know several investors who buy many of these properties. Some of their objectives include bundling them together and selling them to funds that invest in such assets. If you start buying properties in Class C neighborhoods, you can take advantage of higher and more stable rents/renters with Section 8 vouchers.

Post: Newbie & long distance

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Radhika S.:

Hi!

I am starting out newbie, have young kids, have been a homemaker, but now want to do more for the family financially while also being available for my family. After reading & researching, I have decided to take the real estate route, read 'Rental Property Investing" and came out with the plan to buy single family homes LTR cash flow. I live in California, but being the market it is, I want to invest outside. I have garnered a 50K to get started, I am having difficulty choosing markets, although I have shortlisted it to be a 'landlord friendly state". It looks so wide and vast, I am overwhelmed and don't know where to start. I have been reading the forums out here but how should I narrow down to that one market?

I also tried biggerpockets/wheretostart, but for some reason the .xls would constantly keep opening skype files. What am I doing wrong here?

What should be my next step to narrow down and research?

I am also beginning to talk to CPAs and attorneys, but not sure What all questions I should have cleared at a minimum, to confidently take the big step.

I may be over thinking, but I think it is also the cautious me who does not want to screw up financially in my desire to help the family financially.


I have been reading the forums out here but how should I narrow down to that one market? - I would select a market that allows you to purchase a cheap (under $150,000) single-family in a C+ or better market. This will fit your budget. Most midwest markets offer this type of inventory.



I am also beginning to talk to CPAs and attorneys, but I am not sure what questions I should have cleared at a minimum to confidently take the big step. - First, I recommend speaking with a lender to find out if you can purchase the property in the name of an LLC. If the lender does not permit this, your attorney and CPA will have limited options. They might suggest transferring the title to an LLC after you complete the purchase.


Post: "Which out-of-state cities are good for investing now?"

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Celine Li:

Hi everyone,

My name is Celine, and I live in Los Angeles. I've been learning about real estate investing and am ready to take action on my first out-of-state property using the BRRRR method (with plans for short-term rentals). I have enough cash to invest and am considering cities like Indianapolis, IN; Cincinnati, OH; Cleveland, OH; Atlanta, GA; and Charlotte, NC.

I’m looking to purchase houses around $300K, with the intention of fixing them up. For experienced out-of-state investors, where have you invested? Which cities and areas do you think have the greatest potential for appreciation?

Thanks in advance for sharing your insights!


I suggest interviewing teams of realtors, contractors, lenders, and property managers in each market. Additionally, set up home searches in each market. Finally, select the market that best aligns with your goals.

Post: Midwest- Vertically Integrated Turnkey Company Recommendations

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Maxnbee Nyabende:

We are OOS investors and have a small portfolio (5total) SFH and duplex in the Northwest Arkansas area. We live in Austin, TX and are looking to expand however NWA has become quite overpriced and as such we are looking into the midwest and are particularly interested in Columbus OH, Milwaukee, Kansas areas. We invest for long term buy and hold in good areas B+

Due to extreme highly demanding W2 jobs we are looking for credible FULLY vertically integrated turnkey companies to partner with. We are looking for companies that OWN and are accountable for the full end-to-end process including purchasing, rehabbing/build, post-close property management. We aren’t looking for someone who is accountable for a subprocess and has “partners” they can refer us to for other processes. We need a seamless one accountable partner approach.

We would appreciate recommendations from anyone who has had good experiences with in these markets. Thanks in advance.

Max


Columbus, Ohio does not have "turnkey" companies like this. Most buyers in Columbus work with a Realtor, finance their properties through a lender, and handle renovations with a property manager.

Post: New to Multifamily in Columbus, Ohio

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Tyler Edmister:
Quote from @Mike Paolucci:
Quote from @Tyler Edmister:

Hey Everyone!  My name is Tyler Edmister. I've done a few fix and flips and have decided I want to focus on multifamily properties in Columbus.  I'm here to network and learn.  I joined a mentor group earlier this summer also to help accelerate the process.

A little about me...

I joined the Marines out of high school and served for one enlistment. I came back to Ohio and started working for a construction company, and have been there since. (2017) Currently I manage an asphalt plant for them in Columbus.

I haven't done a ton of real estate investing, but have a strong understanding of construction, and project management.  I'm looking to build a team to take down deals primarily in the Columbus area.

Leave a comment, lets connect!

My Linkd In


 Hey Tyler. Sounds like you have a great advantage with your background and time living locally. Have you decided on which neighborhoods you want to target? 

Happy to connect for coffee and chat more about your goals.


My main focus is Class B and maybe some C+ properties around NE Columbus, as well as outside 270 from the North to the east side. I am open to at least looking at any multifamily around Columbus though.


 That area is desirable and will most likely have negative cash flow for a while.

Post: First Time Hard Money Loan

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Eli Joffe:

Any referrals for hard money lenders that will work with new investors in Ohio? I’m in college and am looking for funding for my first Brrrr deal. I have a 760 credit score and 70k with no debt. I’ve also been interning with an experienced investor for over 6 months so I’ve gotten familiar with how the process works. 


 I would be happy to connect you with some Hard Money lenders. What year are you in college?

Post: New to Multifamily in Columbus, Ohio

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Tyler Edmister:

Hey Everyone!  My name is Tyler Edmister. I've done a few fix and flips and have decided I want to focus on multifamily properties in Columbus.  I'm here to network and learn.  I joined a mentor group earlier this summer also to help accelerate the process.

A little about me...

I joined the Marines out of high school and served for one enlistment. I came back to Ohio and started working for a construction company, and have been there since. (2017) Currently I manage an asphalt plant for them in Columbus.

I haven't done a ton of real estate investing, but have a strong understanding of construction, and project management.  I'm looking to build a team to take down deals primarily in the Columbus area.

Leave a comment, lets connect!

My Linkd In

 Welcome to BP!

Post: New to BiggerPockets and Rental Investments Looking to Network

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @Samuel Richardson:

New to BiggerPockets.  Interested in networking and learning more about multifamily investing.  Live in the Columbus Ohio area.  Work currently in the accounting field and I’m a licensed CPA in the state of Ohio and West Virginia.


 Welcome to BP!

Post: Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents

Remington Lyman
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,475
  • Votes 6,447
Quote from @James Kerson:

I’d like to start a new kind of real estate brokerage. It would dually represent buyers and sellers and charge a total commission of no more than 0.6%. Instead of depending on buyer agents to drive prospects from house to house, prospects would tour houses themselves, and unlicensed “door-openers” would admit them. The listing agreement would include within the commission property photos, a set number of “door-opener” tours, some hours of phone/Zoom consultation with a licensed agent to set a listing price and discuss offers, counter-offers, and closing mechanics. Ideally AI could improve the property analytics that shape listing prices, a competitive advantage over other brokers. While this brokerage would start in Ann Arbor, I would want it to expand to all of Southeast Michigan, then statewide, and ultimately nationwide.

Initial target users would be investors/flippers, in other words, more frequent flyers than typical homebuyers. Yes, this brokerage would eliminate buyer-broker commissions, which are under threat, anyway. Agents would be paid hourly, not by commissions: the brokerage and not the licensed agent-advisors would drive all listing leads. Agent-advisors would merely provide advice, coordinate property photos, and review offers with their principals. 

Agents, tell me why this is a bad idea. Be as blunt as you can.


 Dual representation is the easiest way to get sued. I would assume your brokerage would not be able to afford to pay for the E/O it would cost you