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All Forum Posts by: Remington Lyman

Remington Lyman has started 30 posts and replied 5396 times.

Post: New Real Estate Investor

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Junior Maravel:

Hello everyone my name is Junior, I live in the los angeles area working in the medical field. Living in Los Angeles makes real estate investing unreachable with how high homes are here, so I will be looking out state to start my journey. I am interested in multi family homes from duplex to quadplex. As a complete newbie I'm here to network and learn the process about out of state investing.


 Welcome to the site!

Post: What are some other ways you're using Artificial Intelligence (AI) in Real Estate?

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660

Hi Bigger Pockets community. I've recently started using AI in my real estate investing, and it's been a huge help. For example, Grammarly AI rewrites my paragraphs to make them grammatically correct and more conversational, which comes in handy when I'm talking to tenants.

What are some other ways you're using AI in your real estate investing?

Post: Tenant Evictions - Ohio legal support?

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Henry T.:

pull up google....enter....eviction attorney columbus ohio

call a few and ask their prices.


 Companies with the best prices tend to be the ones that represent larger property management firms. This is because they're already on site, so they don't need to make a special trip.

Post: Seller Financing in Cleveland Ohio

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Imara Hasan:

Hello everyone 👋 My name is Imara I am from Cleveland Ohio. I am a newbie to real estate investing and just wanted to know if anyone has any experience with buying investment properties using the seller financing strategy. I see a lot of this happening here in Cleveland. 


 Hello Imara! 👋 Welcome to the world of real estate investing! BP is a great place to get started

Post: Getting Started in Columbus

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Sam Mohler:

@Remington Lyman unfortunatly that is against our HOA bylaws, so it is not an option at this time


 You could sell your home and get a duplex instead. If you have been living there for a while you can probably sell without capital gains. *you would have to talk to your CPA as I am not a CPA*

Post: Getting Started in Columbus

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Sam Mohler:

@Remington Lyman appreciate the information. We actually live locally more in the north eastern suburbs. We're assessing if it's better getting started further out with at least 3bdrm family homes with all the growth in a variety of areas like Johnstown, Delaware. Vs more city based areas that many times have higher risk with the tenants. 


Are you willing to put up with some short-term discomfort and try a house hack? If so, I think that's the best way to get started. This way, you can also stay local.

Post: San Diego Investor looking to invest out of state, BUT WHERE?

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Dan H.:
Quote from @Wendy Patton:

of course i will say MI - but agree the midwest is best for cash flow and cost of entry.


 FIFY

agree the midwest is best for INITIAL cash flow and cost of entry.

Historically these Midwest markets have produced poor long term cash flow.   This is because historically most of these markets have poor long term rent growth and poor long term appreciation.  I arbitrarily define long term as 15 years or longer, 10 years as medium length hold, 5 years as a short (usually failed if purchased as a long term rental) hold. 

If you want to have the most accurate cash flow predicted over a long hold, do not look at initial cash flow.   Look at population growth, desirability of area, supply of housing and areas to build, economic growth, diversity, and stability (incomes must be able to pay for increased rents), etc.

Good luck


Unfortunately, people are often trained for short-term gain rather than long-term gain.

Post: Events in Alabama, Ohio, South Carolina, and North Carolina?

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Connor Kelly:

I've been trying to look for events in these areas but to no avail. Does anyone know some good events in these areas, focusing on networking and lending to get more deal flow.


 There are a bunch of events in central Ohio. I would recommend checking out Meetup.com, Facebook, and eventbright

Post: Rookie real estate investor

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Frank Martinez:

I'm a rookie investor.   Looking to start investing into real estate.  Hopefully, get my first deal and work harder to get the next one.  Right now in my career i'm seeing there is no future.  And, I would like to move on to my next stage in my life.  To improve my family's life as well as mines and, who ever I bring too.  


Welcome to the site. I recommend doing a local house hack. I started in 2017 but doing that. It is the easiest way to get started with little money down

Post: Getting Started in Columbus

Remington Lyman
#5 Out of State Investing Contributor
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 5,698
  • Votes 6,660
Quote from @Sam Mohler:

Hi everyone! 

My name is Sam, and my husband and I are looking into getting started with investment properties. We are looking to start with LTRs. My husband has a finance background and has done a lot of research on real estate investing. We previously flipped our first house we lived in on our own. We aren't afraid of hard work, but do not have as much extra time on our hands to do more in depth renos. I previously worked full time, but due to changes in our family I now have the time to do the leg work to get started with this process. I am new to the real estate world, but it is something I have always been interested in. I'm here to soak up all information and continue building our team in order to make our first deal. With how much Columbus is booming we know there are great opportunities and we are looking forward to starting this journey. Would love to hear from other Columbus LTR investors regarding which models and geographic areas you have found the best success. I look forward to networking! 


I assume you are an out-of-state investor. Most new out-of-state investors in Columbus begin by focusing on C-class areas for long-term rentals. It’s a good idea to start with a buy-and-hold strategy to gain experience while working with a team. Once you feel comfortable, you could explore different strategies and consider investing in better locations.