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Ohio Cashflow

highly recommended
5.0

In the 1 year since I bought my first turnkey property with Ohio Cashflow I have been extremely satisfied with their service and communication. They have really delivered the goods so far. We have good tenants who they found almost immediately after the rehab.  I look forward to many more years and more properties with these guys! 

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Engelo and his team do a great job!
5.0
I invested in my first Ohio Cashflow property almost one year ago. Since the beginning, Engelo and his team have always kept me up to date on relevant information such as rehab and tenants. As with all investments, there will always be things that come up along the way, But the team at Ohio Cashflow always goes above and beyond to make it as passive for me as possible.
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Loyal, Honest, High standards
5.0

I have been affiliated with Ohio Cashflow for the previous 6 months. The team continually impresses me with strong core values, and an unrelenting focus on High standards, Integrity, and customer service. 

While performing at these high levels, they also manage to promote a friendly, and humorous environment, that will make you feel like you are among friends.

 

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Ohio Cashflow - Best Experience for first time investor
5.0

Ohio Cashflow Review

When I was reviewing turnkey operators to work with, I was looking for two foundational characteristics, trust and performance. How do I know I can trust them, and what is it about their performance that sets them apart from other turnkey businesses. I was looking for reviews which would give me some real information to help with my decision-making process in choosing the right business. So, I'm hoping to make this the type of review which would have helped me, in the hopes it will help you too.

 

The Australian market generally has a very high buy in price. It also has a much lower ROI compared with what I had seen in many of the US markets. Being a family without a large disposable income, like we had before children, we had to make a very considered choice of where to invest our funds. To get the best return for our investment my wife and I were considering investing not just from out of state, but out of country! Thus we started researching turnkey operators. We needed to find an organisation who could locate properties, rehab them, tenant them and manage them. Going the turnkey route made the most sense since we already had jobs and wanted a passive income, not another job. Finding a team we could trust was going to be paramount. However my belief is that no matter where you're investing from, your key starting point should always be forming relationships with people you can trust.

 

My wife and I have a great relationship. She trusts my financial judgement. So she was happy to let me do the due diligence and then make the final decision together.

 

The first thing I did was to start searching forums, particularly on Bigger Pockets and here on Turnkey-Reviews, to find other out of country investors, and in my case, Australians, who had successfully invested with turnkey operators in the US. I consider myself very blessed in having two key respondents, out of the many who did get back to me, provide me with the most helpful information. The first guy was a very experienced investor who amongst many, many other things, operated a turnkey review site - this one!. He recommended Ohio Cashflow as a business who had a 100% positive review status, and which was run by a fellow Aussie. This was great for me because I knew the US property market was a totally different beast to our Aussie market, and although I was getting myself educated in the differences, having a fellow Aussie on the ground would be very helpful. The second guy was a real-estate professional from Australia who had invested with Ohio Cashflow about a year prior. He was very helpful in educating me about the US market, his personal experiences and of course in Ohio Cashflow themselves. He was full of praise on how much integrity the team at Ohio had and how well they had looked after him. I particularly enjoyed his manner because he wasn't pushing me in any specific direction or being a salesman, but was just providing me with the necessary information with which we could make an informed decision.

 

So far I liked what I was hearing. I started building up a relationship with these two people who had made this same recommendation of Ohio Cashflow, and started building up some real confidence in their recommendation.

 

The man behind Ohio Cashflow is Engelo Rumora. Given he was originally from Australia I thought it would be prudent to find out from local sources what his back story was. I found out he was passionate about real estate. He'd had some early successes in Australia and then headed to the US to make his mark. I liked the fact that he had also had failures, but like all truly successful people, had learnt from these and become better through them. After a several years building his team, systems, network and brand, his US businesses are very successful. What was clear was that he had integrity. He was very transparent in all his dealings and didn't put any spin on what he was saying. He knew his product was valuable and was in a great position to partner with those he chose. Engelo has appeared on Bigger Pockets' forum posts, podcast and meetups, many other podcasts, blogs, news articles, TV news and his own YouTube channel videos. So there were plenty of avenues to get to know him and his companies. I particularly liked his philanthropy. One of his companies gave away a house to a needy family last Christmas.

 

Through my fellow Aussie investor, I contacted Engelo to discuss our goals. What instantly struck me was Engelo wasn't interested in building his business through quantity of customers, but was after quality. He was after a certain type of investor who was prepared to go on a journey with him and his team, an investor who wanted to build a long-term relationship of trust and commitment. So this interview wasn't just me seeing if I liked Ohio Cashflow, it was just as much to see if they liked me. We clicked. I was impressed by what Engelo had to say, and he likewise was impressed with our plans, outlook on investing, my research into him and his company.

 

Ohio Cashflow provide solid B class properties with a typical net ROI of 8-10%. The average investment is around the $70K mark. They were a true turnkey provider who locate properties in areas that would sustain the ROI through the property's life, they do a thorough and solid rehab, hand-hold the investor through the purchase, tenant the property and then manage the property with virtually no involvement required from the investor except to receive the great cashflow.

 

One key differentiator from other turnkey operators is that Ohio Cashflow (OCF) do all the property management in-house. OCF doesn't just sell the property to you and walk away, they have a vested interest in your continued success. Many unscrupulous PMs will try to increase revenue by inflating expenses and charging for unnecessary items. Being in-house and just a part of OCF's overall business, the property management team can keep costs to the investor low. Furthermore OCF do a great job on the rehab up-front to avoid many of the typical expenses you may incur downstream from the initial purchase, and they also look after any issues early on instead of passing them on to you. OCF also have a clear contract regarding damage caused by the tenant to ensure the tenant pays for those, so you, nor your insurance company, is liable. The investor just has to supply a $500 maintenance reserve with the PM to cover any of the smaller issues that require immediate attention. A courtesy email is sent to the investor for any expenses over $200. OCF provides an online web portal to view and track all the rental income and PM managed expenses per property. As is typical the property management rate is 10% of rental income.

 

One item which I found very impressive was that Ohio Cashflow do a rental guarantee. This means as soon as you close on the property you start accruing rent whether a tenant is in place or not. Generally OCF find a tenant within the first few weeks, but it's great to have that guarantee.

 

As for other expenses, the utilities and lawn maintenance costs are taken care of by the tenant. Closing costs are shared by you and Ohio Cashflow and are typically in the range of $300-400 on a $70K property. The investor covers property insurance (around $600-$700/year) and property tax ($800-900/year). OCF recommend an insurance company which specialises in insurance for rental properties, and is run by a group who are property investors themselves. You can however opt for your own insurance company. You pay the insurance company directly from your bank account, while property tax, maintenance expenses and the property management costs themselves are managed by the PM and come out of the rental income. The remaining income is then transferred monthly to your nominated bank account. If you don't have an account setup at the time of purchase, they keep your funds in a trust account which can be monitored through the online web portal.

 

So there were plenty of things that set Ohio Cashflow apart from the rest.

 

We felt satisfied that we had researched thoroughly. We felt we had established trust with Engelo and his team based on verifiable facts. We were ready to pull the trigger, and after bringing my wife fully up to speed on why I thought Ohio Cashflow were the team to go with, pull the trigger we did. Within a day we had been shown a property that was amazing value, and by the next day we had made the decision to buy. Having said this I want to emphasise that we never felt pressured into committing our money earlier, or above a limit that we felt comfortable with. It was the prefect first experience for a beginning investor.

 

Unlike most turnkey property businesses, Ohio Cashflow's communication is excellent. They regularly touched base with us through the purchase process and have continued this well afterwards to ensure we are happy and have all the information we require. They have all been very friendly and professional.

 

I'm someone who cares about details and I can say with confidence that Ohio Cashflow's team does too, being ready with answers to all my questions or having already taken care of items before I raised or requested them. This level of care and attention is one of the hallmarks of their business. Ohio Cashflow treats you not like a number, but rather as a valued member of their exclusive club, a part of their family. As I mentioned earlier, they eschew quantity for quality, within both themselves and also in the investors they choose to allow to partner with them.

 

Several months on I'm still just as happy with Ohio Cashflow. They've always gone above and beyond expectations.

 

A word about finance. Turnkey operations move properties very quickly. As such they generally have less time to wait for you to work through financing with the big banks. Most sales are thus cash. Now this doesn't mean you can't leverage. You can still get private money loans, cash out refinance or home equity lines of credit to fund your purchases, but just have all that worked out before you make the decision to purchase.

 

You might be asking what are the negatives. Well on a general level I've got to say I can't think of any. There were some things which they didn't have much experience with eg how to set up a US bank account without travelling to the US. This has become increasingly difficult to do since the Patriot Act, but I discovered ways to do this which were successful. Am happy to share if you contact me directly.

 

Turnkey isn't for everyone, so there are things which won't suit all people. Once you've established trust with the team it's very important that you let them do their job and not try and control every little detail of what they do ie if you're a control freak or don't trust them fully enough to let the team do their job the way they've found works best.

 

For my wife and I, we've found the decision to join Ohio Cashflow one of the best we've ever made.

 

Ohio Cashflow are known to turn down more people than they take on so my recommendation is that you have a clear understanding of your goals and do some homework before you contact them. Although they are very happy to chat, as with most turnkey businesses, they are quite busy and as I've said before, properties move quickly. So being ready to move fairly quickly and having most of your ducks in a row is advisable.

 

One of the most helpful factors in this whole journey was having mentors who helped me through the whole process. Having my mentors explain all the steps prior to introducing me to Ohio CashFlow, ensured I wasn't wasting their time. The mentors also helped explain exactly what sort of investors Ohio Cashflow were interested in partnering with, so we were confident that we fit the bill.

 

I hope this review has been helpful in your decision-making process. There's a lot more I could say about how to setup your company structure, asset protection, the legal documents, banking, tax etc etc. If you want to know what we did in detail you can connect with me via Bigger Pockets by sending a colleague request to Suvir Salins or email me at suvir@pnc.com.au. Just use the text "Turnkey questions" in the subject line so your email doesn't get filtered.

 

Wishing you all the best in your investment journey!

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1 of 1 people found the following review helpful
Ohio Cashflow
5.0

The group at Ohio Cashflow are great to work with. It's awesome and not that common to work with people that are hard working and honest . It's obvious that they want to build long term relationships rather than the "burn and churn" approach that so many have. I would highly recommend them!

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1 of 1 people found the following review helpful
Relationships, Trust, Communication & Integrity
5.0

Engelo has been a long term friend of mine and we have invested in RE together for a few years now. What he has built with Ohio Cashflow is outstanding and I love working with his team.

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2 of 2 people found the following review helpful
Ohio Cashflow - peace of mind, honest professional service - what more could you ask for ?
5.0

I am a UK investor and have been working with Engelo and Ohio Cashflow for the past few months. I have found both Engelo and the Ohio Cashflow team to be second to none. They strive for excellence in everything they do. I have been an investor in the US for over 5 years with some good and bad results - Investing with Ohio Cashflow has been the best decision I have made in my US journey. The process to gain a great cash flowing deal was hassle free. All questions and communications with quickly dealt with - with both honesty and integrity. This is a true turnkey service ( with the backup of great property management, guarantee's etc ) - I am already on my second deal and hope to have ticked off many more by the end of 2015. Thanks to you all and look forward to finally meeting in person in March !

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Honest, Trustworthy, and a Pleasure to Work With
5.0

We recently purchased a turnkey property from Engelo and the OH Cashflow team and the entire experience was great.  Despite being our first business interaction with OH Cashflow, they took the time to ensure we were comfortable with the entire process and were very flexible with us despite a few hiccups in the closing process.  They stress building a solid relationship based on trust and mutual respect, and that is definitely something they've earned from us.  I have not owned the property long, but have done the due diligence to know we purchased a solid deal and will achieve a higher return on investment then we have found with other turnkey properties we've purchased in the past.  They also put their money where their mouth is by offering the best guarantees I've seen!  We look forward to continuing to grow and invest with OH Cashflow from here.  

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Hard Working, Great Counseling, Great Product, and Great Communication
5.0

I decided to purchase a property from the people over at Ohio Cashflow after talking with them and meeting them in person.  They were very easy to work with and answered all of my questions about how they manage their properties and put my mind at ease with the challenges of living five hours away.  They had great answers to my questions and took the time to drive me around Toledo to look at some of their properties and to see the neighborhoods they were buying in.  Very professional but still fun people to hang out with.  Invest with these guys.  

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Great communication, positive experience overall
5.0

I just closed on a property with Engelo and his team last week. It was a pleasure working with the group - they are very quick, thorough and responsive. 

I hope as the company grows, they continue to retain this level of customer focus. Some of the bigger vendors lag in that regard as they scale up..hopefully the Ohio Cashflow team scales its level of investor attention even as they grow.

I will definitely buy from Engelo and his team again. 

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Great Product with Great People
5.0

I can't say enough about the team at Ohio Cash Flow. Honest, hardworking and investor focused operation that creates a great end product with high NOI. I'm an out of country investor and flew in to spend a few days with the team before closing escrow. I was not disappointed. The property rehab was great and they selected tenants that I couldn't be happier with. I will definitely be purchasing more properties from them, in fact, I will only purchase future turnkey investments from Ohio Cash Flow. If you want hands off investing that you can rely on then this is the company to place your trust in. Five stars all round.

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Honesty and Integrity
5.0

Ohio Cashflow always treats us with respect.  Integrity is a word I would use to describe the employees there.  They all seem to love their job and are all VERY helpful anytime I contact them.  I would highly recommend using them for any of your real estate needs. I can't wait to work with them more in the near future!

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Ohio Cash Flow
5.0

Investing with the team at Ohio Cashflow has given me the confidence to build a portfolio that will make my dreams of living life on my terms a reality. They made the process so streamline and have assisted with every aspect of the investment process.

I would not hesitate to invest with Ohio Cashflow again!

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Ohio Cashflow Review
5.0

Below is my first post in the Success Stories forums

https://www.biggerpockets.com/forums/223/topics/177843-am-i-successful-or-am-i-an-example-of-what-not-to-do

I’m finally writing my 2nd “Success Story” post. I’ve been waiting to see if my new property would consistently produce cash flow as well as needing to finally finish my NRC exam to obtain a Reactor Operator’s license for the Watts Bar Nuclear Generating Station here in East Tennessee. I’m happy to announce that after a LONG 2.5 year process, as of July 25th, I passed my 2nd NRC Exam in my long career in nuclear power.

So here’s my story in purchasing my first duplex…

Around June or July 2015 I was trying to figure out how to buy a property outside of my SDIRA to increase my personal income. My goal was to have a steady flow of income that could be reinvest into future RE endeavors. I listened to BP podcast #89 several months earlier and after jumping into RE by buying turnkey properties, I kept Ohio Cashflow in the back of my mind as a potential Turnkey Operator. If you recall from my previous post, at this time I’m still in the middle of a Reactor Operator’s training program, so I didn’t have much time to pursue REI except through the turnkey route.

I made the decision to borrow from 2 of my properties in Dallas, TX. Unfortunately the only rentals that I own are in a SDIRA. I would then pull the borrowed money out of my SDIRA and purchase a property free and clear. Since Ohio Cashflow (OCF) was working in a less expensive market, I decided to do more research on them (them meaning Engelo Rumora) to see if there were any negative reviews / comments.

Now Engelo REALLY puts himself out there and is all over the internet; I figured if there were ANY negatives somebody would have said something. I did a BP search for Engelo and OCF. In general everyone seemed to have nothing but positive things to say, but nobody during my research on BP had actually purchased a property from OCF. I did listen to several interviews with Engelo such as:

The one with Lisa Phillips (https://www.youtube.com/watch?v=pv7wohQTKls )

The Mark Podolsky interview (http://www.thelandgeek.com/?s=engelo+rumora)

The Brock Collins interview (http://www.freedomrealestateinvesting.com/engelo-rumora-turnkey-ohio-cashflow-investor-rei-012/)

and a interview at growtheverywhere.com, which is more entrepreneurial and less REI (https://growtheverywhere.com/growth-everywhere-interview/engelo-rumora-real-estate/?cet=33)

As well as investor testimonials on youtube

I also did a BBB search and Ohio Cashflow has an ‘A’ rating and there was a Toledo, OH business news article / interview I read (unfortunately I did not keep the link)

After my initial search, in July 2016 I made a decision to call OCF / Engelo to see about investing. Engelo and I ended up talking on the phone and he has as much enthusiasm in the day to day as he does in his interviews (a lot of energy that dude has). Engelo asked me to fill out a questionnaire about my personal REI experience and informed me that he only deals with investors that can buy free and clear. I told him that would not be a problem and that I had the money but it would take a little time for me to get it.

I also asked Engelo for a couple references which he gladly provided me. I contacted these references and both had positive experiences w/ Engelo and OCF. After all this I was set to buy a rental property from Ohio Cashflow, I just needed to get a hold of some money.

After speaking with Engelo and feeling more comfortable, I contacted First Western to start the process for non-recourse loans against my properties within my SDIRA. The process is very similar to a normal loan and I decided on $50,000 on 2 properties ($100,000 total). The prices for rentals in the Toledo, OH area (as seen on the ohiocashflow.com website) were ranging from $50,000 to $80,000 and I needed to plan for the taxes and penalties I was going to incur pulling money out of the SDIRA.

About late August to early September 2015, while waiting for my loans to close, Engelo posted on ohiocashflow.com a duplex in Middletown, OH. The numbers were:

$74,900 and $1350 rent, after expenses it was going to be about 15% ROI

I contacted Engelo and told him that I wanted the duplex in Middletown; I told him I did not have the money, but was in the process of obtaining loans on properties that I already owned. Engelo essentially said, “no problem, though we want to close early October”. Engelo was very flexible on the terms to purchase the property.

Mid-September my non-recourse loans closed and was able to close on my new / rehabbed dublex the first week of October. I was hoping that the close was early enough in the season that the PM would be able to find renters before late fall or winter. I had plenty of reserves and Engelo’s partner, Bryan, briefly mentioned in one email that OCF had motivation to ensure the duplex was rented because it would cost them money. Engelo has also mentioned in his interviews that the rentals would be tenanted to the buyer’s satisfaction. Well, I looked over the purchase agreement I signed and I couldn’t find any promise for back rent. So instead of relying on any money for back rent I patiently waited HALF THE WINTER for a tenant. FINALLY, in February I got news of 2 new tenants moving in AND TO MY SURPRISE – I GOT BACK RENT from October 2015 to February 2016 ($1350 for each month of vacancy).

Anyway I am very happy with OCF and their customer service is top notch. Engelo help me find a GREAT lender to refi the duplex (about $49,500 @ $450 monthly, PITI), and Engelo's other partner Dominique helped me find an insurance company

Here’s my first duplex on youtube: (Engelo is a little hyper – I think to prevent hyperthermia, video was shot in January)

https://www.youtube.com/watch?v=432udm1Cy20

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Ohio Cash Flow 5 Stars*****
5.0

It has been an absolute pleasure working with Ohio Cash Flow. They are courteous, honest, and the most diligent group of people I've ever worked with. You always feel that YOU the customer is their top priority. When you invest your money several states away, it is easy to experience a few nervous feelings and worry that maybe you won't see your money every again. However, working with Engelo, Dominique, and the rest of the team puts those fears to bed very quickly and I've been happily depositing my cash flow in the bank every month. 

Working with Ohio Cash Flow has been my best rest estate investment to date. I can't wait until I am able to invest with them again!

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Ohio Cash Flow 5 Stars*****
5.0

It has been an absolute pleasure working with Ohio Cash Flow. They are courteous, honest, and the most diligent group of people I've ever worked with. You always feel that YOU the customer is their top priority. When you invest your money several states away, it is easy to experience a few nervous feelings and worry that maybe you won't see your money every again. However, working with Engelo, Dominique, and the rest of the team puts those fears to bed very quickly and I've been happily depositing my cash flow in the bank every month. 

Working with Ohio Cash Flow has been my best rest estate investment to date. I can't wait until I am able to invest with them again!

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highly recommended
5.0

In the 1 year since I bought my first turnkey property with Ohio Cashflow I have been extremely satisfied with their service and communication. I look forward to many more years and more properties with these guys! 

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0 of 1 people found the following review helpful
Very positive experience with Ohio Cash Flow
4.8

Recently closed escrow on my first hose with Ohio Cash Flow, LLC. So far, I've had a very positive experience with the entire team. They have been very responsive, did a very nice rehab job on the house I acquired, and had a tenant in place before closing escrow. I would highly recommend them.

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Ohio Cash Flow
4.8

I first invested with Ohio Cash flow about one year ago. Really the most amazing thing about this company is the personal service. The service you get is above and beyond what you might get from just about any company, not just a turn key real estate company. Emails are returned in minutes instead of days, and personal phone calls are the norm. They value you as an investor and treat you as though your business is appreciated.

Ohio Cash flow and their team believe in their product and do everything they can to keep you informed. Any issues that have come up have been handled above and beyond what one would expect.

Financially speaking I have done well this year. I realize there are no promises in real estate but at the very least I know that Ohio Cash Flow will be by me every step of the way.

 

 

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