All Forum Posts by: Shaheen Seiffert

The BP rent estimator has been a great tool for me to run reports on single family houses. How can i run these estimates on a multifamily property? For example rents should be lower on each 2b1b unit in a duplex vs two stand alone 2b1b houses. Looking in Cleveland. Thank you!

@Joshua Janus, That's my exact reason for leaning towards Cleveland. At least to start out.

@Marc Rice, That's what I'm hearing! I need to spend some time analyzing some deals and ill be staying there. Right now i think i need to focus on cash flow until I get a few deals under my belt in that market. The cash flow will give me a little bit of a buffer that I need. 

@Nicholas Misch, I would love to talk with you about what areas I should avoid. This has probably been the biggest pain point for me looking at deals online and not knowing if I can improve the properties to raise the rents. 

@Steven Goldman, Thank you so much for your insight. I have looked into Akron and Dayton a little. I understand that these markets are all different but I would be approaching each with different goals. As I'm leaning towards cashflow starting out, I'm looking more towards Cleveland, Akron. I need to revisit my information on Dayton. Rents just seemed extraordinarily low. As I am looking to BRRR in the area, its great to know that financing can be tough, I will make sure to take this into consideration.

@Brandon Goldsmith, that's exactly what this trip is to determine. Although most of my research has been in Cleveland.

@Remington Lyman

That would be wonderful, thank you!

I am finally taking my first steps in long distance real-estate investing and will be staying in Columbus Ohio from January 31st to February 4th. The purpose of this trip is to make connections and build a strong team of professional property managers, contractors, deal finders and more. I already have a great agent that has been working with me over the last few months. I am looking to purchase small multifamily homes between Columbus and Cleveland. I would love to network while I'm in town and get to know the area. Lets get lunch and talk. Looking forward to meeting all of you! 

@Shane Blackshear I think it's great to refinance, especially with how low rates are. If that property is still cash flowing with the new payment I think you're good. With the HELOC, be sure to account for the interest payments to calculate the net gain with the new deal all things considered. That all sounds great so long as you're comfortable with all the new added risk and have enough of a safety net.

@Mikael Winkler I love the idea of house hacking. Even if the deal doesn't allow you to live for free, I assume you have living costs now anyway? Are you able to get the deal, rent out the other half and lower your living expenses?? Even if you have to pay a little, it's temporary until the place is cleaned up and you can rent out both units.

The amount you're paying also goes into your own property at least!

Not a bad way to get started

@Wayne Brooks I never thought about looking into the HOA. This is a great tip.

@Ethan Griffel

Great question. Because there is a cost of getting the HELOC, it's a cost of doing the deal and should be accounted for. Subtract those interest costs from the deal to get the net income.

@Kaylee Walterbach I grew up with the mindset that the only way to wealth was by winning the lottery or lying and cheating your way through life. I wish I knew that money doesn't change who you are, it amplifies who you already are.