All Forum Posts by: Simon Ashbaugh

Welcome to BP! Personally, I always recommend your first investment to be a house hack. This will cut your cost of living, and you can utilize low downpayment loan options for it. If thats not an option look into the midwest.

Columbus ohio is the fastest growing metropolitan area in the midwest with decent cashflow, and appreciation above the national average. It has companies like Intel, Honda, Amazon, and Sarepta investing billions here. Cleveland is incredible for cash flow, with around 60% of households occupied by renters and duplexes in the 150-170k range. Happy to chat more in-depth on these markets if you shoot me a DM!

0 Votes

Los Angeles County, California

Quote from @John Anderson:

I've only been an investor for the past 10 years, so I realize I'm relatively new at the game.

One assumption that I seem to keep hearing about is that the Midwest/South is for cashflow, while the coasts are for appreciation. Based on what I've seen over that time period, however, I'm not sure that this is true.

While properties on the coasts are certainly more expensive, in terms of % growth I've actually seen higher growth in smaller markets. Ex. homes in Detroit, Charlotte, Cleveland that I picked up for $50k-$100k four years ago have now doubled, while homes in the Bay Area have gone up by 20-25% (ex. a $2mm home is now $2.5mm). On top of that, the cash flow is MUCH superior to what I've been getting in the Bay Area (like 3-4x).

If someone could let me know if there's something I'm missing here, I would greatly appreciate it. Thanks!

It really depends, cleveland generally appreciates around the national average (though parts of cleveland have gone up 2-3x in some areas over the last couple years). Columbus on the other had is appreciating better than a lot of coastal areas because we have intel, honda, amazon, and others investing billions here. The coastal areas will always be hot markets, but i think they appreciate a lot slower and they really dont cashflow unless you have a really good STR

1 Vote

San Jose, California

Quote from @John Mullen:

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $155,000
Cash invested: $80,000

Contributors:
Mike Pauze

Reappraised May 2023 for $285k and refi'd for 80% cash-out mortgage to recover majority of invested capital. Will be STR/MTR starting July 2023.

How did you add value to the deal?

Lots of sweat equity.

What was the outcome?

Got almost all the money back after the refi

Lessons learned? Challenges?

Everything takes longer than expected, especially self-performed renovations.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Teri Gilmore (realtor)

Adam Messmer (mortgage broker)

Jimmy Lieu (connected me with Dawn)

Dawn Mahan (Ameris Bank)

Nice buy!

0 Votes

I can send you a list of cleveland contractors

0 Votes

Cleveland, Ohio

Columbus and Cleveland are both strong rental markets for different stratagies

2 Votes

San Diego, California

Quote from @Maryam Mostafa:

or a rental property in general in Cleveland as an out of state investor. Thank you!

C-class areas on the west side are good safe bets (44102,44109,44111). Buy a duplex and screen tenants well.

1 Vote

Cleveland, Ohio

Quote from @Luther Kyrin Creecy:

Afternoon all,

Would anyone have any advice on where to find a true duplex? I'm looking for a duplex and don't mind leaving Tampa, FL to get one but I'm having a hard time with this search. I'm running into a lot of houses that aren't actual duplexes but the agents have them listed as a duplex.

Any advice is appreciated.

Columbus and Cleveland ohio have great options! Columbus is an appreciation-heavy market and Cleveland is a top cashflow market!

3 Votes

Tampa, Florida

All Forum Posts by: Simon Ashbaugh

Simon Ashbaugh has started 0 posts and replied 839 times.

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