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All Forum Posts by: Sam McCormack

Sam McCormack has started 35 posts and replied 1086 times.

Post: Recommendations for first time out of state investing

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Zeina Awad:

Hello BP team, 

          How are you all? Hope all is well. I am looking to invest outside of California for the first time. I am looking to rent and hold (purchase a rental income property). Any recommendations for which cities and dates to look into as a starter? Would appreciate the insure. 


 My clients and myself have found good success in Greater Cincinnati. Lots to look forward to here and would be more than happy to talk some more about it. Let me know how I can help you best!

Post: I am searching looking for a real estate investment property

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Voley Martin:

I am a new pro member. My plan is to buy something in the next 90 days to a year that I can cash flow at least $100 a month after all expenses are accounted for; i.e. property management, taxes, insurance, cap expendetures etc. What are some of the best markets to get started in?  colombus/springfield OH seems at least somewhat promising to me. 


 As an agent and investor local to the area, Greater Cincinnati has worked well for my clients and myself. Would recommend looking here. Shoot me a message if you have questions/interest!

Post: Location considerations for BRRRR

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Matt Ricky:

Hey! I have a pretty large capital ready to step into this game,

I am in big conflicts either choosing Ohio(Cincinnati/Dayton) or Texas(Houston) for BRRRR method,

I read a lot about Ohio, only positive stuff. But I am sure I can make it even in Texas. How big impact is that? For BRRRR, or flips in general.

Tlooking also to have sort of lifestyle and not living in cold 1/4 of the year with snow.


the question, is there is big differences between markets? 
should I consider heavily Ohio or you can make it pretty much any place, or Texas in general

Thanks!!!


 Hey Matt, I am going to message you now about Cincinnati

Post: 19-Year-Old Real Estate Agent in Rochester, NY, Looking to Start Investing.

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Andrew Thomas:

Hey everyone,

I’m a 19-year-old real estate agent based in Rochester, NY. I’ve been in the industry for a little under a year now and have gained a solid understanding of the market here. I’m hitting a bit of a roadblock when it comes to funding.

I’m eager to start building a portfolio, but being young and not having substantial savings yet means I’m looking for advice on how to secure capital to get started. I’d love to hear your thoughts on strategies that have worked for you.

  • -What are some ways to fund my first investment deal?
  • -Are there any specific resources, lenders, or partnerships I should look into?

I’m committed to learning and putting in the work, but any guidance or insight from those who’ve been through this journey would be really appreciated!

Thanks in advance!

 Like what @Caleb Brown said, focus on being useful to others to save that money

Post: I'm a licensed architect just starting in real estate investment

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Josh Abbey:

I'd like to purchase my first property and get the process started. I'm a newbie with a good grasp on the investment process but am a little discouraged with what's availabe in my immediate area of Denver. I'm interested in investing and have a small chunk of cash for a down payment but don't know where to look outside of Denver. I'm very familiar with home design, construction, and navigating zoning and building permitting challenges (if that helps!). Looking to build a team!


Hey Josh, what are your goals out of REI? If it aligns with what I am confident Cincinnati/Northern Ky has, I would love to talk to you more about the area!

Post: What should I be asking agents as an out of state investor?

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Jared Goldwasser:

I live in Los Angeles and am looking to purchase my first investment property this year -- interested in single family or duplex units. I am targeting Cincinnati, OH as potential first market because I grew up not far from there and have at least some connections. I'm meeting with a couple agents i was referred to through my network and am wondering what critical questions I should be asking them to understand if they are the right partners for me in this market, especially considering I will be managing this investment from the other side of the country, and what info I should be prepared to provide to them. Thanks in advance for any help!


 Hey Jared, I am going to shoot you a message real quick

Post: 2-4 Family With Cash Flow

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Matt Schreiber:

I know this is a common question but wanted to hear specifically from investors or realtors that are seeing MLS cash flow for 2-4 unit properties. I've only invested in STRs and was looking to get into small multi-family but haven't seen anything that made sense in any of the markets I invest in so was curious where people were seeing good opportunities.


 Biased, but I still see opportunities in Greater Cincinnati. Would love to talk some more about it if you would be open minded to the market? (2 in 1!)

Post: Electrician looking to expand real-estate portfolio in NKY

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Josh Mahan:

I have been on BP for a while but my profile is prompting me to do an intro. My name is Josh and I am an electrician. I work a W-2 day job and have my own electrical business. I would like to purchase a 4 unit building in NKY in 2025. I have wholesaled, fix and flip and I have a duplex that I have owned for 5 years. 


 Hey Josh, reaching out now!

Post: Californian new to REI - looking for out-of-state rental property

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Ben Callahan:

Hey everyone! Nice to meet you (electronically).

Currently renting a single-family home in a very expensive coastal Southern California city. Not able to buy in this area without going house poor. Not able to move (at least for a while) due to my job.

Looking to use savings that would’ve been for a primary residence down payment to invest in rental property out of state.

Would love to make connections, hear thoughts on good markets to look into, strategies to maximize return, etc. 

Happy to answer any questions and excited to chat with you all!


 Hey Ben, like others have said, what are you looking to get out of an investment property? And what strategy are you looking to utilize of investing? 

Post: I need to change strategies. What should I do?

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Ivan Castanon:

For the past 6 months I’ve been looking for houses (both SF and MF) that can produce at least a little bit of cashflow with around 20% - 30% down.

However, I’ve started to realize that this is pretty much impossible these days.

I currently have $110k sitting in my bank ready to be invested but I just can't find anything that will at least produce a 3% COC return. I've been looking for properties in and around Tampa, Orlando, and St Pete but I can't find anything that's worth it.

I’m starting to realize that I need a new strategy. I can’t keep looking for properties that will cashflow because I feel like I’m wasting my time at this point. I really want to invest in RE but I just don’t know what to do. Any recommendations? What other ways can I invest in RE in the current market.


 Hey Ivan, is there a reason you are specifically Tampa, Orlando, etc? If you are looking for more cash flow specifically, would you be open to other markets? And if the area is important, I just ask, what is more important? Cash flow now? (not the future) Or the market?