All Forum Posts by: Brandon Schlichter

@Kurt Phillips - Does fairfield national bank no longer do this? Vinton County National bank will sometimes do it, Kingston National bank WILL do it, granted on a 5/1 arm typically (With decent rates).

Central Ohio is booming! 

Can't speak for Zanesville exactly, but I invest in Circleville & Chillicothe, and Chillicothe is *about* the same distance from downtown Columbus.

Personally, I wouldn't trade investing in this kind of area for anything. Sure, there's minimal property management, but from what I've seen, competition is very, very low. I PERSONALLY know 50%+ of active investors in the area, makes it much easier to do acquisitions because I'm able to talk freely with the majority of the market to spot trends, brainstorm and help come up with plans of action for making the area better. In my case we set up our own effective management company and it's definitely been worth it.

They need to fix the ranges a bit, but Trulia's heatmap is darn good. At one time it was near perfect.

https://www.trulia.com/home_prices/Ohio/Franklin_County-heat_map/

Try local credit unions and any bank that doesn't have any other branches outside of Central Ohio. You might have to talk to a half dozen or more but there are plenty out there that keep their paper in-house and will lend to investors. 

I'd be interested in meeting up in the future. Lancaster is on our list of towns to expand into in the next 3 years.

Not sure offhand with fairfield/Licking, but every so often we have people from Lancaster in our Ross/Chillicothe monthly REIA.

Someone told me about this 'amazing trick'.

But here's my question - Aren't ALL Mortgages calculated on daily interest? I'm pretty sure all the mortgages I have use a daily interest rate, and if you make pre-payments in a specific way (Assigned to either interest or principal) you can attack your interest rate just as quickly and there's no need for software, a HELOC or anything like that.

My recommendation would look on the Lancaster/Fairfield Facebook groups. Lots of activity on Facebook that many are missing. 

Monthly cashflow is a little harder to calculate. I figured up a few weeks ago what I should at reasonable occupancy (16 that we recently bought were very poorly managed, and it's led to tons of vacancies). I SHOULD be able to clear, personally, $200k/yr on 20hrs of work a week. That excludes principal curtailment, appreciation, and other benefits from the rentals.