All Forum Posts by: Shaylynn O'Leary

Much of that decision is based on what you want to get in $ profit or % return. I'm happy to help walk you through the process if you want.

Agree on the above. I'm actually doing this right now and am going to hold a recent flip project as the area is going to be developed over the next couple of years and I expect appreciation to rise. I'm doing a cash out DSCR refi so I still get some of my capital back and can take advantage of cash flow/depreciation and all the other benefits of holding. However, if you can flip it and make a solid profit higher than what you would get out of a cash out refi and/or rents won't cash flow, then flipping makes good sense (unless you need a tax write off but since this is your first investment, that probably isn't the case).

Depends on your long term goals, risk tolerance, experience and market. 

For me, if a property has at least 15% forced equity and is cash flow neutral or better, I'm going to keep it. 

You get financial freedom from keeping property, not selling it. Anything in a B or better area and in a growing market, I would keep. 

Best of luck!

@Shaylynn O'Leary

do you have any experience flipping?  I'll say this:

-"flipping" a property - buying it, rehabbing it, and selling it - is easy.

"flipping" a property AND MAKING MONEY is really, really difficult.

do you have experience flipping?

@shay The biggest question  - can the property cashflow after paying for the costs of holding the property? If you cant turn a decent profit on a monthly basis, it's not a great long term play and you should sell the property.

@Shaylynn O'Learyundefined

 My friend has two MTRs here and he does really well! has been for years .. 

I would try to find a short term/mid term rental friendly agent who might be able to give you super accurate feedback on the market

Hi Shaylynn, how exciting to be starting your real estate investment journey! You are definitely on a good path right now by looking into the Ohio cities. As some others mentioned, it can come down to if you are looking for cash flow or appreciation. Cleveland is known for cashflow, and Columbus is known for appreciation. It is also VERY important as an OOS to have a good team with boots on the ground to help you on your journey. They know the ins and outs of the city and will be able to assist you to find the right deal for you. If you have a good team in place to walk you through the process, you will be golden. Luckily, if you invest in Cleveland, I know a really great team who has a top sales team and a professional property management company in-house. I would be happy to connect and share more. Wishing you the best!

Hi Shaylynn!  Both are great options!  Why not look for properties in both locations and see which numbers work better?  Lots of deals are property specific, like each property make different $$.  You don't have to limit yourself from the beginning.  Evaluate each deal/property on its own.  There are opportunities in every market.

@Shaylynn O'Leary

Columbus is a mixture of cashflow and appreciation (more diverse businesses and growing population). Some neighborhoods will cashflow better than others. Great for house-hacking, multi-family investing, long-term holds, and BRRRR's if you're local and able to manage contractors.

Cleveland is a heavy cashflow market but low appreciation. Some investors look strictly for cashflow but do not care about other things like if a growing population or drivers in the market.

Build a core four in both markets and hunt from there. Get you feet your wet and just have a learning mindset on your first one.