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All Forum Posts by: Sam McCormack

Sam McCormack has started 35 posts and replied 1086 times.

Post: Student Rentals in College Towns

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Brett G.:

These days, a couple of things seem to be affecting how and where college age students are attending classes. The use of online classes has been increasing every year and are projected to continue to increase. Also, more people seem to be choosing trade schools over traditional colleges. I am curious to know what everyone is seeing out there and have some questions:

-How is this affecting in-person attendance?

-Have you seen a change in demand for student rentals?

-Where do you think the student rental sector is headed?

-Are certain student rental markets bullish/neutral/bearish?


 University of Cincinnati has seen a ton of growth for the past few years. Even XU to my knowledge. I am only seeing more and more demand

Post: Hello BiggerPockets! New PRO here

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

Hello BiggerPockets community! I'm Maria J from New Jersey, passionate about real estate investing for a couple months now. I'm particularly passionate about PA, NC and OH.

Outside of real estate, I enjoy trying new restaurants.

Excited to learn and connect with you all!


 Excited to have you! I am Cincinnati, OH/Northern Ky, let me know if I can help you in anyway!

Post: Multifamily Real Estate Investing

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

Hello, I currently live in Brooklyn, New York. I have a husband and 4 kids. My husband and I are looking to purchase our first investment property next year. We want to get into Real Estate Investing starting off with multifamily. We would live in one unit and rent out the other units. We looking for a 2-3 unit property. We're looking to relocate to a different state within the next 6-8 months. Does anyone have any recommendations on what state would be best to purchase a multifamily unit? We're currently looking into North Carolina and Georgia. 


 Hey Dana, without diving into too many details yet, Ohio is normally a front runner, as I am sure you have got people saying it already (like myself). I specifically in Cincinnati and Ky, both areas having lots of SMF. Let me know if you have any interest in the markets I specified!

Post: Advice: New Investor/Small but Mighty Portfolio/ Long Term Game Plan

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Shaylynn O'Leary:

Hello, I' m a newer investor in the process of getting my first property under contract near where I currently live. I live in a good, appreciating market where the average home price is above $700,000. Not a great cash flowing market. The state that I live in is also not landlord friendly.  My plan is to have a small but mighty real estate portfolio, much like Chad Carson's book. I want to use the profits from flipping in my home market to obtain and pay off properties in a better cash flowing, landlord friendly market. Initially, the properties that I buy in another market don't have to cash flow a lot, my metric is $150, as I'm focused on the long term gain when they're paid off  and I have a W2 and am also a realtor. I'm not looking to leave my W2 tomorrow.  However, my hold up is what market to look at that will help me meet my goals. I have looked into these markets: St. Louis, MO, Indianapolis IN, Columbus OH, Cincinnati OH, and Columbia SC. Does anyone have any advice on which direction to go? Thank you!


Shooting you a message now about Cincinnati

Post: Real Estate Wholesaler | Problem Solver | Investor Connector

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

Hi BiggerPockets Community!

I’m Lumière, new to real estate wholesaling, and I’m excited to connect with experienced investors and wholesalers. My focus is on finding off-market deals and building a strong buyers’ list. If you’re in Cincinnati, I’d love to collaborate and share opportunities. Feel free to reach out! :)


 Looking forward to deals I can connect my investors with!! Or if I have a seller that I can connect your buyer with!

Post: New to BiggerPockets and Rental Investments Looking to Network

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

New to BiggerPockets.  Interested in networking and learning more about multifamily investing.  Live in the Columbus Ohio area.  Work currently in the accounting field and I’m a licensed CPA in the state of Ohio and West Virginia.


 Welcome to BP! You should get more than enough help from agents commenting on here soon in Columbus. I am an investing agent in Cincinnati/Northern Ky, so if you are ever curious or wanting to look at investments around here, let me know how I can help you best!

Post: Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents

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

Yes. Maybe there would be some minimum, defined as cost-plus, but yes.


 Just strictly looking at this from an agent/owner perspective, that commission would need to be a lot higher. Even if they aren't actual agents, there isn't enough money in that. But at that point you are charging an amount that is similar to a real estate brokerage, and then, let the professionals be professionals. But I love the entrepreneurial spirit, and hey that is just my opinion. Keep sculpting that idea

Post: Tell Me Why My Discount Brokerage Idea Is Bad: Calling All Agents

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

I’d like to start a new kind of real estate brokerage. It would dually represent buyers and sellers and charge a total commission of no more than 0.6%. Instead of depending on buyer agents to drive prospects from house to house, prospects would tour houses themselves, and unlicensed “door-openers” would admit them. The listing agreement would include within the commission property photos, a set number of “door-opener” tours, some hours of phone/Zoom consultation with a licensed agent to set a listing price and discuss offers, counter-offers, and closing mechanics. Ideally AI could improve the property analytics that shape listing prices, a competitive advantage over other brokers. While this brokerage would start in Ann Arbor, I would want it to expand to all of Southeast Michigan, then statewide, and ultimately nationwide.

Initial target users would be investors/flippers, in other words, more frequent flyers than typical homebuyers. Yes, this brokerage would eliminate buyer-broker commissions, which are under threat, anyway. Agents would be paid hourly, not by commissions: the brokerage and not the licensed agent-advisors would drive all listing leads. Agent-advisors would merely provide advice, coordinate property photos, and review offers with their principals. 

Agents, tell me why this is a bad idea. Be as blunt as you can.


 .6%. So if you sold a 100k property you would make $600 Gross?

Post: Looking for a Property Manager in Cincinnati- 45213 zip code

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @Rob Hinh:
Quote from @Sandeep Dhall:

I am looking for a Property Manager in Cincinnati- 45213 zip code. I am in the contract for a 4plex. Please recommend someone who can help me with this new property. I am out of state investor and this is my first in Cincinnati.Thanks Sandeep 


 Hi Sandeep,

i know this thread is very old but wanted to follow up and see if you’re still investing in the area? I’ve been eyeing a property but don’t know too much about this specific area - I grew up in Cincinnati but never really knew much about it. 

Thank you! 


 Hey Rob, I'm gonna shoot you a message about this to see if I can help you

Post: First Deal program

Sam McCormack
Posted
  • Real Estate Agent
  • Cincinnati, OH
  • Posts 1,113
  • Votes 644
Quote from @O Samuel Adekolujo:

I have been trying to buy my first property  without luck. I am thinking of Enrolling in the first deal program with Brandon Turner. Cost a lot $8000 for 12 months. Has anyone try this program?


is it worth it?  


 Hi! I have worked with a ton of new investors, and don't get me wrong, there is a difference between patience and ambition. This is way over that boundary of ambition. While it will likely give you more confidence and answer a lot of questions, I would say that talking to a seasoned investor, or even agent that works with investors, is a way better idea than spending 8K on something that you don't know too much about, especially before your first deal is done. That 8k will be worth a lot more in different areas, like your first investment property. 

I HAVE NOT done the first deal program. But I fully recommend talking to a seasoned vet or an agent first. I would be happy to talk to you more about this over the phone. If you are looking OOS, we can talk more specifically about Greater Cincinnati as well to see if it is a good fit. Let me know!