All Forum Posts by: Simon Ashbaugh

A true rockstar realtor should be able to give you contact info of the others, id start there!

Short-term goal (say 5 year) is to have enough passive income to pay for my living expenses. Long term is to have multiple billion $ worth of real estate. 

It sounds like you're willing to put some work in to make it a better investment. why not put that time into making the Airbnb bring in more people? It seems strange to me to let someone arbitrage and make all that money when you could just do it yourself.

 Ideally, you'd want to get into a 2-4 unit and owner occ it. I see you're in Copley, is it an option to move up north a little and get into Cleveland? There's a ton of cash flowing properties up there. As for loan products, I can send a list of Cleveland lenders and you can call a few to figure out what works best for you.

I would start cold calling in the areas you want. you could also consider looking out of state, there's a tone of cashflowing properties in Ohio!

Will it cashflow when you move out at 8%? if so then when you refi it will definitely cashflow. If its a good deal now, it will be later when rates go back down. 

 Cleveland Oh, Columbus Oh, Indiana, Kentucky, and Detroit (this one would scare me but statistically speaking it cashflows well)

I would not expect a house hack to cashflow when you're living there, as long as its cheaper than what you're paying now. It sounds like that's not the case. Negotiate the price down to where it breaks even when you move out/ its cheaper than your current mortgage while you're living there. Also, re-run your numbers, factor in a refi in a couple of years, and see what that does.

Quote from @Ross Kline:

I've been analyzing deals for a couple weeks now. A mix of single-family, small multi-family, BRRRR, and even a 20-unit apartment.

I'm a numbers guy, so I've done my research and believe I am using accurate numbers when calculating NOI and cap rates.

What I've found is that on-market deals typically have a cap rate of 5% or less, and after debt service cash flow is often negative, especially at current loan rates.

So do investors just have the income and cash to buy and wait for spreads to widen as rents increase?

Would love to hear your thoughts!!

 It is normal in the sense that it happens a lot lol but it shouldn't be the case. I'd look at how you're running your numbers, the team you've built, and the market you're in. Most likely the market you're in doesn't match you're investment goals and/or criteria. Consider looking out of state maybe? I'd be happy to make some suggestions in Ohio if you'd like!

I can send you a list of DSCR lenders in ohio!