Meet Remington Lyman | Real Estate Brokerage Owner and Realtor

We had the good fortune of connecting with Remington Lyman and we’ve shared our conversation below.

Hi Remington, do you have a budget?
I don’t have a specific budget, but I’ve always believed in living well below my means. When I was working a 9 to 5 job at JP Morgan after college, I saved as much money as possible and invested it in the stock market. I also bought retro video games off of Craigslist and resold them on eBay. Being frugal and aggressive with saving allowed me to start investing in real estate. I used a strategy called “house hacking,” where I purchased a duplex as a primary residence. This strategy is great for beginners because it allows you to put down only 3% of the purchase price. I bought duplexes that needed work, fixed them up, and rented them out. I even rented out the extra bedrooms on my side.

What should our readers know about your business?
I was laid off from JP Morgan in 2019 after having purchased properties for two years. Following my layoff, I interviewed various real estate brokerages but ultimately decided to start my own. I began cold calling for off-market deals in order to provide value to my clients and seek opportunities for myself. With the help of a mentor, I grew the brokerage to 35 real estate agents over the course of five years, mainly recruiting from Ohio State University. I looked for young entrepreneurs interested in learning about real estate investing while earning commissions to one day purchase their own properties.

Our success stems from helping our clients find below-market opportunities that other realtors overlook and aiding sellers in selling their properties due to our numerous interested buyers. One of the greatest challenges I have faced is navigating the legal and financial burdens of running a small business. There is a lack of information on how to open an LLC or manage bookkeeping properly, which I believe should be covered in our education system.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
My favorite spot in the city is the Athletic Club of Columbus. This is where all of the wealthy people go to socialize and work out in downtown Columbus. I have made a lot of great connections, whether it be mentors, friends, or clients there. I enjoy playing squash, basketball, and lifting weights there. When I am not at the athletic club, I enjoy going to Crew games, Clippers games, and watching the Ohio State football team.

The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
I enjoyed reading Rich Dad Poor Dad because it taught me life lessons about putting my money to work for me. After reading the book, I started purchasing assets that would make me more money in the future. I started off by renting the cheapest apartment I could find in Columbus, which was a two-bedroom, one-bathroom apartment for $625. My roommate and I split the cost. We lived with hundreds of other roommates – the cockroaches. Living below my means and purchasing assets that generated more money allowed me to buy my dream home this year in German Village.r in German village.

Website: https://www.reafcorealestate.com/team/remington-lyman

Instagram: https://www.instagram.com/realtor_remington/?igsh=bDFzOHcyamhvZGtw

Linkedin: https://www.linkedin.com/in/remington-lyman/

Facebook: https://www.facebook.com/realtorremington

Youtube: https://www.youtube.com/channel/UCkeFdYTaDBqT-5qK_tndb0Q