All Forum Posts by: Ryan Ingram

Hey Fernando, @Shawn Henderson and @Sammy Lyon invest in these areas and has a tremendous amount of success. He is also an out of state investor and I'm sure he could help you out a good bit. 

I think OH is probably one of the safest and best markets to invest in, as far as crime and cash flow is concerned. There is a lot of one and not so much of the other :) 

Hey Austin, I think you're on to something and I wouldn't put down your profession. Dave Ramsey put out an article after studying thousands of self made millionaires and teachers were in the top 5 careers. You can see that here. I'm saying that not to promote Dave Ramsey, but to encourage you. 

I'd be happy to chat as well, my cell is (704) 706-4548 feel free to text, I respond to that best. 

My wife was an assistant principal, 33, and I was 27 when we moved from NC to OH about 3 years ago. We now have around 64 doors. We started with about 120k in cash...and kept getting more and more creative. 

I'd be happy to share with you everything that I know and have learned over this time. I've also started a youtube channel that revolves around the same. 

Looking forward to learning more about you!

Hey Jimmy! I'd highly recommend Samuel Miller (614) 289-8799 he is both a realtor and an investor with several units of his own. 

Great job @Robert Bodmer! That is a solid deal with a big equity swing. Just out of curiosity, why did you go the option route rather than hold as a normal rental? 

I have some good friends in Hillsborough, I'll ask around and get back to you. I recently replaced several joists and supports. One cost 15k and another cost 25k...but those are OH prices. 

The way you’ve laid this out, I’d go with option 1.

We have 64 doors, and my wife and I have 3 kids with another on the way.

Now that we can’t house hack...we really want to.

You can work with the seller and the bank on a 100% occupied property...

There will be some creative way to get one of the units emptied out...even if it’s cash for keys (paid for by seller)

You can get started with a lot less than that! Sounds like you have everything you need to be super successful at real estate investing, now you just need to do a deep dive in studying REI.

I’d highly recommend reading and listening to entirely too much content.

But, if I were you...I’d use the money for down payments rather than using it all to buy one property.

The reason for that is the power of leverage.

I think it’s totally up to you and your personal preference.

The biggest pro of biweekly is that you end up making 2 extra payments that equal 1 month...so every year you make 13 monthly payments.

I plan on keeping all traditional mortgages for the full length of the term to take advantage of low interest leverage and cash flowing assets.

I hope that helps? 

The actual property may not cash flow, but thats ok. Zoom out and look at all of your income/expenses on a more global basis. Reducing your living expenses by $1,050 is a huge deal. That is what wealth is made of. Where would you repurpose the money that you'd be saving? Presumably towards another downpayment in the future for your second house hack?

Not to mention once you move out, after a year (I presume), then the property will cash flow, correct? Then you'd use that money to help you support/find another property to house hack? 

Or, could you rent out a room to a family member or close friend for $250-500?

What I have found in real estate investing, is that it is all about the base hits. Not every deal is going to be a home run, but you can't hold out just for those. I'm not saying don't strive to knock it out of the park on each deal...but there is an opportunity cost that is negatively impacting people that sit on the sidelines waiting for the perfect deal...and those people don't factor that cost into their numbers. If they did, I'm guessing their future/perfect deal would be worse off than your current/awesome deal. 

Hey Kelly John Walsh,

Congrats on getting into investing! I think this is a great idea. 

I have some mild critiques I'd like to offer, if you're open to them. If not, completely disregard.

I'd focus on trying to find a newer investor with little to no capital and partner with them in exchange for them doing the deal and all of the associated work. But, this is more risky for you since they don't have a track record or much experience. This is also less passive as you'll have to be pretty hands on with them in double checking or looking over their shoulder. I say this, because as a seasoned investor, this is really expensive money...probably too expensive for someone that has successfully done this several times. 

If I were you, I'd also consider lending money to investors at a higher percentage rate. In this example, you wouldn't have any equity...but you'd have the continued cash flow, returned capital when the deal is done and refinanced, and the passive nature. I regularly borrow money from individuals at 8-13.6% between 12 months and 10 years, interest only payments, paid out monthly. There is also a 3% prepayment penalty if I pay it off within the first year, I include this so as to properly reward the investors and not waste their time by moving so much money and signing so much paperwork for just a few months interest. This method is also much cleaner on the accounting side. I do this, so I do not have to spend any of my own capital for any deals that I do. All of my personal money sits in a reserve in case things didn't work out properly. The only way I'd consider giving up any equity, is if I didn't have to put up any capital at all during the process.

But, if you look hard enough and long enough, you'll eventually find someone to agree to almost any terms. 

I'm not trying to be discouraging, or troll-like...just want to provide some insight that may be helpful that can you can use to tighten up your ask and find more willing participants.