General information plz

Columbus, Ohio
Starting Out
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General information plz

David Zachary Leroy Bowles
Member since 2026 · 8 posts · 7 votes

wanting to get started in buying & renting out houses literally don’t know anything what so ever about it what should i read or watch or do plz give me all the best information you have i don’t want to take a step forward just to go 100 steps back & lose everything

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Remington LymanBusiness Member
Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
1w
Quote from @David Zachary Leroy Bowles:

wanting to get started in buying & renting out houses literally don’t know anything what so ever about it what should i read or watch or do plz give me all the best information you have i don’t want to take a step forward just to go 100 steps back & lose everything

I would recommend doing a house hack. It is the lowest risk to get started in Ohio if you build out a trusted team to help you.

[email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
Reafco512 Reviews
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  • Harrison C.
    Member since 2017 · 58 posts · 27 votes
    1w

    dont buy anything yet. the way people lose everything is buying a house on a guess.

    first thing costs nothing. pick one area near you and every week look at what 3 bedroom houses sell for and what they rent for. write it down. after a month or two you'll know a good price when you see one, and thats most of the game.

    then learn the math on one house. rent minus the payment, taxes and insurance, and a common rule is hold back around 10% of rent for repairs and another 5 to 10% for empty months. if nothing is left its not a deal no matter what anybody tells you.

    safest first step for most people is a house you live in yourself and rent out the other bedrooms. you get the low down payment loan and the roommates cover most of the payment. i rent rooms in my houses for $600 to $775 each. if it goes bad you still have a place to live.

    the beginner reading on this site is free and its enough to start. skip anybody selling a course.

    do you own or rent right now?

    2Reply
  • Harrison C.
    Member since 2017 · 58 posts · 27 votes
    1w

    David, ok good, renting actually makes it simpler. you got nothing to sell first.

    two things to do while you watch prices.

    start a house fund. same amount every payday, even if its small. a loan for a house you live in (FHA) can go as low as 3.5% down, so on a $200k house thats $7,000, plus closing costs and a little cushion on top.

    then call a local bank or credit union and ask what it would take to get approved. costs nothing. they'll tell you straight if its your credit, your income or your savings you need to work on. then you know what to fix and your not guessing.

    when your lease is close to up, thats when you go buy the one you live in and rent out the other rooms.

    0Reply
  • Michael K GallagherBusiness Member
    Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
    1w

    if you are in the columbus market we have a bunch of great meetups and people doing it at a high level here in town. I've been to Tommy Harr's meetup at draft kings I think that is monthly and worth attending to meet people.

    If you are local, driving around or even biking/walking around the areas you might be interested in is always worthwhile.

    and even before you start looking at actual properties its worth talking to a lender to understand your financing and what options will be available to you.

    [email protected]614-362-2231
    0Reply
    • David Zachary Leroy Bowles
      OP
      Member since 2026 · 8 posts · 7 votes
      1w

      Yes i’m in the Columbus market & actually looking for houses on the westside hilltop area,Grove city & Hilliard area mainly areas i’m comfortable with would love to attend some meetings

      0Reply
  • Hossein Sharifi
    Investor · Member since 2023 · 93 posts · 42 votes
    1w

    Pick one Columbus submarket and analyze three listings a week until you know its rents and prices cold. Then talk to a lender so you know your real budget. People lose money by buying before they can tell a good deal from a bad one, so those analysis reps are your best protection. The BP book on rental property investing is a great companion while you do it.

    0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 957 votes
    1w
    Quote from @David Zachary Leroy Bowles:

    wanting to get started in buying & renting out houses literally don’t know anything what so ever about it what should i read or watch or do plz give me all the best information you have i don’t want to take a step forward just to go 100 steps back & lose everything

    Don’t overcomplicate it at the beginning. Learn how to analyze a rental, understand financing, and get comfortable with the real numbers before buying anything. Start looking at actual properties around the area and run the numbers as if you were buying them, including taxes, insurance, repairs, vacancy, and management. Do that consistently for a few months and you’ll learn a lot without putting your money at risk.

    [email protected]614-418-6081
    2Reply
  • Austin GoetzBusiness Member
    Lender · Minneapolis, MN · Member since 2026 · 33 posts · 10 votes
    1w

    If you are considering purchasing a single-family home and renting out bedrooms to friends or family, you can qualify for a conventional loan at 3% down payment. That is going to be your lowest entry point. If you are considering a 2–4-unit property, FHA loans minimum down payment is 3.5%.

    Happy to talk through pros and cons of each loan program or answer any other mortgage financing questions. Feel free to message me.

    [email protected]952-797-2007
    Magnolia Bank
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    0Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    1w
    Quote from @David Zachary Leroy Bowles:

    wanting to get started in buying & renting out houses literally don’t know anything what so ever about it what should i read or watch or do plz give me all the best information you have i don’t want to take a step forward just to go 100 steps back & lose everything

    I would recommend doing a house hack. It is the lowest risk to get started in Ohio if you build out a trusted team to help you.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    4Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    1w

    Hi David! I’d start by learning how to analyze deals and understand the costs of owning a rental, including repairs, taxes, insurance, and vacancies. The Book on Rental Property Investing by Brandon Turner is a good place to start. Take your time learning the basics before jumping into your first deal. You don’t have to figure everything out at once!

    [email protected]614-412-2912
    Reafco.512 Reviews
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  • Matthew Tregoning
    Property Manager · Melbourne, FL · Member since 2019 · 353 posts · 151 votes
    1w

    When you get to one of those Columbus meetups, ask someone to walk you through their last turnover. What had to be fixed, how they found the next tenant, what took longer than expected. You'll get a much clearer picture of the job than from only hearing what they paid for the house.

    1Reply
  • G. Brian DavisPro Member
    Investor · Hatboro, PA · Member since 2016 · 3k+ posts · 868 votes
    1w

    You don’t need to know everything before you get started. You just need to avoid putting your money at risk while you’re learning.

    I’d pick one area near you and start analyzing properties every week. Look at the purchase price, actual rents, taxes, insurance, repairs, vacancy and management. After you’ve looked at enough deals, you’ll start to recognize pretty quickly what works and what doesn’t.

    I’d also talk to a lender now, before you’re ready to buy, so you know exactly what you qualify for.

    And don’t feel like your first property needs to be a home run. Your first deal should teach you how to invest without putting your financial future at risk.

    1Reply
  • Mike PaolucciBusiness Member
    Realtor · Columbus Cleveland Dayton, OH · Member since 2022 · 501 posts · 553 votes
    1w

    One of the best decisions you can make when jumping into this will be to House Hack a 2-4 unit if you can. It's the easiest way to get in and learn as you go while sheltering yourself from the full financial burdon of the mortgage (provided your tenants pay on time and stay in place for multiple years)

    [email protected]614-892-9184
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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    1w

    @David Zachary Leroy Bowles

    But honestly, it is not necessary that you know everything prior to starting out only make sure that you do not hurry and purchase your first piece of real estate. Invest a little bit of time in learning how to analyze the actual deal, including rent, taxes, insurance, maintenance, vacancy, and finance and consult with some local real estate investors and lenders.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
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