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All Forum Posts by: Sam McCormack

Sam McCormack has started 37 posts and replied 1158 times.

Post: Is anybody cashflowing right now???

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689
Quote from @Steven Barr:
Quote from @Sam McCormack:

I don't find conventional financing to work with the 1% rule, I would say now it is like 1.25%. I have resorted to creative financing. With not as much demand, people are much willing to accept creative financing now, plus it provides a better return

@Sam McCormack can you provide an example of a creatively financed deal and how it would provide better cashflow than 20% conventional?


 Seller financing. Give them the price they have it listed at, but with a lower interest rate. DM me for more details and ideas. That was just an example

Post: Looking for the best RE Agents in Cleveland and Columbus

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

I am in Cincinnati, not these cities. But one I know is @Remington Lyman

Post: Is anybody cashflowing right now???

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

I don't find conventional financing to work with the 1% rule, I would say now it is like 1.25%. I have resorted to creative financing. With not as much demand, people are much willing to accept creative financing now, plus it provides a better return

Post: How can I make this deal happen? possible first purchase

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

@Mario Forno

Hey Mario, I would get an FHA 203k if possible. It will cover up to 35k in repairs I believe

Post: Networking and getting to take action steps

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

Hi Olivia, I am an agent in Cincinnati. OH! Happy to connect, I sent you a colleague request. Do you know what kind investment you are looking for?

Post: Where would you invest for a purchase price of low 300k?

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

@Evan L.

Low 300k could get you a lot in Cincinnati, OH. I would say either a nice triplex or quad. Maybe even a 5 unit!

Post: 18 year old, Looking to get into RE

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

@Braden Hunt

Hey Braden, we are in the same boat. I started getting into real estate at 17 and now I am 19 with a license in Ohio. I wouldn't recommend doing that unless you want to actually be an agent like I do. I will recommend what you do is put yourself around people who do real estate. If you are good with your hands, or want to learn a trade, start making calls to people asking if they are looking for an apprentice or if you can shadow them. You could probably ask one of your parents if they know someone who does that really. Or if you want to be an agent, reach out to an agent here on BP in your area and ask if you can be there assistant. The biggest piece of advice I could give you, is to put yourself around people in real estate. And STAY THERE! You got a good head on your shoulders, keep it that way!

Post: Investor agent question

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

So buying a deal that is on market, you're going to pay, realistically, 6% extra, because there are 2 agents involved. So here you're only paying 1, plus it is an off market deal, so the chances that it is going to be cheaper than a deal on market is much more likely. If a deal is good, it is good! Don't let a good deal by over that 3% you're paying. On market will be more and you're paying for both agents! You got a great agent on your hands!

Post: Buy first rental all cash or buy multiple through financing

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

@Brock Rule

Leverage Leverage leverage!

Post: Midwest Housing Cash

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,186
  • Votes 689

@Wesley A Showalter

The best day to invest was yesterday! Do it now so you won't regret waiting longer. Deals may be hard but they are also hard for sellers.Get Creative!