All Forum Posts by: Rubin Thomas

my partner and I have a small portfolio together as a joint venture. one of us is looking to exchange the sale proceeds into a 1031 the other is looking to just cash out. is this possible?

0 Votes

Hi,

I just purchased a SFH 2 months ago and received a notice from the mail from my lender that there are delinquent taxes over the past 3y from the previous owner. The lender says I have to pay for them.

I had no idea of this coming into the deal and it wasn't disclosed to me.

Am I at fault and have to pay?

Not sure if this makes a difference, but I don't escrow.

0 Votes

Hi everyone,

Erie came up on my research as a great cashflow location. just curious why its not as heavily saturated as other locations? also what your take on it is in general?

thanks!

0 Votes

Hi,

I'm looking to connect with a property manager and lender in the Akron, OH area. I would also be grateful to connect with any other investors in the area.

3 Votes

Originally posted by @Kenny Hall:

Hey @Rubin Thomas! Feel free to shoot me a message and we can talk all-things Indy, property management and hone in your criteria. It's definitely doable if you're looking in the right areas and have some money set aside to do some minor rehab to it once the lease is up if/when that happens. Often when you purchase property tenant occupied, it'll come with a lease that is month-to-month so it's in your best interest to get a long term lease signed right away, or decide you want to part ways, do some minor rehab and target a higher rent that aligns with the market. Looking forward to talking more.

Thanks Kenny! Just sent you a message

1 Vote

Indianapolis, Indiana

Originally posted by @Clinton McGilvray:

You're casting a very wide net right now. Every market has its pros and cons. You can literally rent a house or apartment in any market which means that some investor figured out how to make money there. I'm in Zanesville, OH. Very rural market and you can get some good cash flow on cheap houses, but you're not going to get rich on appreciation anytime soon. You need to get specific on your criteria and what your goals with REI are and then you can really hone down on a market. Ohio has already piqued your interest, I'm sure one of those cities that you mentioned is more appealing to you than the others. Just research that one market and find your niche within it. It's counter intuitive but the more specific your focus is, the more likely you will find what you are looking for. There are thousands of people on BP that LOVE Ohio and an open ended request for advice or contacts could quickly overwhelm you.

your right Clinton, I'll update my post to be more specific and also include it here, let me know if I'm missing something

I'm currently looking to purchase buy and hold properties long-term for cash flow. I'm looking for a duplex in the 60k to 80k range in a Class B or C neighborhood. My goal is to buy them with conventional financing. Ideally I would want them already tenant occupied with minor cosmetic updates needed.

I know that may be alot but wanted to see if that criteria would be achievable here.

0 Votes

Hi everyone,

I'm doing some due diligence into the Indianapolis rental market and was looking for some guidance and contacts I can connect with (namely a strong real estate agent, PM, lender, another investor who knows the area well, etc).

I know that may be alot but wanted to see if that criteria would be achievable here.

Thanks for reading,

Rubin

0 Votes

Indianapolis, Indiana

Hi,

I'm an out of state investor and would like to connect with active investors in Ohio. I've done some brief research and it seems like areas such as Akron, Youngstown, Dayton, Toledo and Cleveland have good city-average cap rates. Open to any advice or contacts you guys could offer to help me get started.

Also, any advice on what I need to be aware of? Or areas I should stay away from?

Thanks

7 Votes

@Brianne Leichliter hey Brianne, looking to out of state invest in that area as well. would love to connect!

0 Votes

this is awesome! congrats!

0 Votes

All Forum Posts by: Rubin Thomas

Rubin Thomas has started 17 posts and replied 35 times.

Post: possible to do a 1031 exchange from a joint venture?

Post: delinquent taxes on a property I just bought, do I have to pay?

Post: how is the Erie PA market?

Post: Looking to connect with a team in Akron, Ohio

Post: out of state investor

Post: guidance investing in Ohio

Post: out of state investor

Post: guidance investing in Ohio

Post: What’s the deal with Ohio?

Post: My first commercial apartment building!