All Forum Posts by: Simon Ashbaugh

TL;DR: If capital was not an issue, where do we start?

Hi everyone! My husband and I are new investors in the Tampa Bay area. We ran a successful business that provided us with a lot of capital, but we will be selling it in the next few months. We are in a position where we have cash but will not have an income soon so our ultimate goal is to create an income stream through real estate investing.

We live in Tampa Bay where housing prices are through the roof and we cannot make the numbers work to BRRRR. We are working with a wholesaler to do our first fix and flip, but due to the slim margins, are unsure if this is the right path to follow.

My question is do we look at out-of-state investing to make the numbers work? Is it foolish to start our first project out of state? If not, are there other specific regions or cities you would recommend us to research that provide strong cash flow in the current market? What would be the smartest first move to learn and get experience with a successful deal to start our RE journey.

Hi Paulette, so I've researched both Cleveland and Columbus and I have to say I definitely prefer Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. Just a few weeks ago, I helped a client close on a deal getting them 20% cash on cash return. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect! 

I’m new to the investing in real estate world. So I have been doing the 2% and 50% rule and nothing around my area which is central ohio added up a positive cash flow? So say a house that cost 180k to create a positive cash flow would have to rent for 2410/m to break even is that correct or am I don’t the math wrong? But even at that it’s only 1.3% on the 2% rule. So any help would be greatly appreciated. Thanks 

Sorry, I should have been specific on my situation, but I'm selling my first investment property in Parma, OH. We had an offer that I accepted, but the basement had a significant water leak. I was trying to please the buyers and didn't do much research. The basement needed waterproofing, so I went with the first contractor I found. It turns out that the cost should have been a lot less. I overpaid by $3,000. I found other contractors for less after I hired this person. 

Hi - can anyone recommend solid PM companies in Cleveland? I have properties East and West side.

Ty,