First Time Home Purchase
9 Replies
Benson Gee
from San Francisco, CA
posted 4 months ago
Hey there Biggerpockets!
From the first day I've gotten on to this website, I couldn't stop myself from wanting to learn more about investing in Real Estate. From where I live, the price is out of my range to even get my leg in the door. After that, I read and watched videos on Out-Of-State investing. The feeling of me not being where my property is scares me and made me feel like it wasn't possible at all. But after
I've spoke with many successful investor, I've gotten a better feeling of the idea.
The three cities I was looking into were Columbus Oh, San Antonio Tx and Tampa Fl. Mainly for the prices the houses I can afford. (Might not have been the best Idea.) But also job growth and people moving into the city.
I ended up picking Columbus Oh because of the availability. The realtor I started talking to was @Remington Lyman and @Zeke Liston . Both very friendly and helped me get on the MLS so that I can see which houses pop up in the market.
I ended up working with @Zeke Liston because ( There are many reason but this one stood out to me the most) there was this one time he went out of his way to check out a house for me in the middle of a Saturday afternoon because I had a lot of interest. He got straight there(15-30mins) and facetimed me, showed me around and put an offer for me right there and then. It showed me how much Zeke actually wanted to work with me. I ended up not being able to purchase that house because someone else paid all cash for it. After, Zeke went hunt mode for me. He knew what I wanted and what kind of home I was looking for. He would send me houses and give his honest opinion on the house. Every time I would need a phone call, he will give me the best time for both of him and I.
We went hunting for months and finally found one that fitted what I was looking for. The house is locate in the 43206 zip code. Name of the area is Driving Park or Deshler Park. It was a pretty much a turnkey property that could just be rented as soon as possible. The reason I felt like I this was a good choice for me (You can comment or direct message me if you think I am wrong or have other ideas for me) was because my down payment was even less expensive that purchasing a house that would need help and the rehab on it. With Rehab, I was willing to do so also but since this was my first time, I would've liked less headaches.
The home price was around 175 but Zeke helped me get it down to 160 plus closing cost. It is a two unit house, with one side rent of 795. Zeke recommended me a PM name Donny Thompson. He's pretty solid as of right now. Donny got my house rent in only a month or two. So I can't complain.
Overall, I am proud of making my first step into the real estate world but don't know if it was the right move with everything going on. This house will be a buy and hold for as long as I can hold it for. If you have any questions or thoughts about this post , please reach out and speak to me. I would love to hear more about your stories about Columbus and investing in Real Estate. I'll keep everyone updated with how everything is going on in about 6 months.
Thank you Zeke for helping me out. This wouldn't have been possible without you.
Remington Lyman
Real Estate Agent from Columbus, OH
replied 4 months ago
Originally posted by @Benson Gee :Hey there Biggerpockets!
From the first day I've gotten on to this website, I couldn't stop myself from wanting to learn more about investing in Real Estate. From where I live, the price is out of my range to even get my leg in the door. After that, I read and watched videos on Out-Of-State investing. The feeling of me not being where my property is scares me and made me feel like it wasn't possible at all. But after
I've spoke with many successful investor, I've gotten a better feeling of the idea.The three cities I was looking into were Columbus Oh, San Antonio Tx and Tampa Fl. Mainly for the prices the houses I can afford. (Might not have been the best Idea.) But also job growth and people moving into the city.
I ended up picking Columbus Oh because of the availability. The realtor I started talking to was @Remington Lyman and @Zeke Liston . Both very friendly and helped me get on the MLS so that I can see which houses pop up in the market.
I ended up working with @Zeke Liston because ( There are many reason but this one stood out to me the most) there was this one time he went out of his way to check out a house for me in the middle of a Saturday afternoon because I had a lot of interest. He got straight there(15-30mins) and facetimed me, showed me around and put an offer for me right there and then. It showed me how much Zeke actually wanted to work with me. I ended up not being able to purchase that house because someone else paid all cash for it. After, Zeke went hunt mode for me. He knew what I wanted and what kind of home I was looking for. He would send me houses and give his honest opinion on the house. Every time I would need a phone call, he will give me the best time for both of him and I.
We went hunting for months and finally found one that fitted what I was looking for. The house is locate in the 43206 zip code. Name of the area is Driving Park or Deshler Park. It was a pretty much a turnkey property that could just be rented as soon as possible. The reason I felt like I this was a good choice for me (You can comment or direct message me if you think I am wrong or have other ideas for me) was because my down payment was even less expensive that purchasing a house that would need help and the rehab on it. With Rehab, I was willing to do so also but since this was my first time, I would've liked less headaches.
The home price was around 175 but Zeke helped me get it down to 160 plus closing cost. It is a two unit house, with one side rent of 795. Zeke recommended me a PM name Donny Thompson. He's pretty solid as of right now. Donny got my house rent in only a month or two. So I can't complain.
Overall, I am proud of making my first step into the real estate world but don't know if it was the right move with everything going on. This house will be a buy and hold for as long as I can hold it for. If you have any questions or thoughts about this post , please reach out and speak to me. I would love to hear more about your stories about Columbus and investing in Real Estate. I'll keep everyone updated with how everything is going on in about 6 months.
Thank you Zeke for helping me out. This wouldn't have been possible without you.
@Zeke Liston sounds like a great guy!
Steven Wilson
Rental Property Investor from Columbus, OH
replied 4 months ago
Originally posted by @Benson Gee :Hey there Biggerpockets!
From the first day I've gotten on to this website, I couldn't stop myself from wanting to learn more about investing in Real Estate. From where I live, the price is out of my range to even get my leg in the door. After that, I read and watched videos on Out-Of-State investing. The feeling of me not being where my property is scares me and made me feel like it wasn't possible at all. But after
I've spoke with many successful investor, I've gotten a better feeling of the idea.The three cities I was looking into were Columbus Oh, San Antonio Tx and Tampa Fl. Mainly for the prices the houses I can afford. (Might not have been the best Idea.) But also job growth and people moving into the city.
I ended up picking Columbus Oh because of the availability. The realtor I started talking to was @Remington Lyman and @Zeke Liston . Both very friendly and helped me get on the MLS so that I can see which houses pop up in the market.
I ended up working with @Zeke Liston because ( There are many reason but this one stood out to me the most) there was this one time he went out of his way to check out a house for me in the middle of a Saturday afternoon because I had a lot of interest. He got straight there(15-30mins) and facetimed me, showed me around and put an offer for me right there and then. It showed me how much Zeke actually wanted to work with me. I ended up not being able to purchase that house because someone else paid all cash for it. After, Zeke went hunt mode for me. He knew what I wanted and what kind of home I was looking for. He would send me houses and give his honest opinion on the house. Every time I would need a phone call, he will give me the best time for both of him and I.
We went hunting for months and finally found one that fitted what I was looking for. The house is locate in the 43206 zip code. Name of the area is Driving Park or Deshler Park. It was a pretty much a turnkey property that could just be rented as soon as possible. The reason I felt like I this was a good choice for me (You can comment or direct message me if you think I am wrong or have other ideas for me) was because my down payment was even less expensive that purchasing a house that would need help and the rehab on it. With Rehab, I was willing to do so also but since this was my first time, I would've liked less headaches.
The home price was around 175 but Zeke helped me get it down to 160 plus closing cost. It is a two unit house, with one side rent of 795. Zeke recommended me a PM name Donny Thompson. He's pretty solid as of right now. Donny got my house rent in only a month or two. So I can't complain.
Overall, I am proud of making my first step into the real estate world but don't know if it was the right move with everything going on. This house will be a buy and hold for as long as I can hold it for. If you have any questions or thoughts about this post , please reach out and speak to me. I would love to hear more about your stories about Columbus and investing in Real Estate. I'll keep everyone updated with how everything is going on in about 6 months.
Thank you Zeke for helping me out. This wouldn't have been possible without you.
Ill second that. @Zeke Liston is the man!
Zeke Liston
Real Estate Agent from Columbus, OH
replied 4 months ago
Thanks, @Benson Gee , I look forward to some more closings!
Trevor Carlson
from Eureka, CA
replied 4 months ago
Congratulations @Benson Gee! It's nice to hear your success story. I am looking at buying in the Columbus area too, so your info is very helpful to me. I'm really looking forward to hearing your update in 6 months.
Remington Lyman
Real Estate Agent from Columbus, OH
replied 4 months ago
Originally posted by @Trevor Carlson :Congratulations @Benson Gee! It's nice to hear your success story. I am looking at buying in the Columbus area too, so your info is very helpful to me. I'm really looking forward to hearing your update in 6 months.
Which neighborhoods in Columbus, Ohio have you been looking at?
Trevor Carlson
from Eureka, CA
replied 4 months ago
Originally posted by @Remington Lyman :Originally posted by @Trevor Carlson:Congratulations @Benson Gee! It's nice to hear your success story. I am looking at buying in the Columbus area too, so your info is very helpful to me. I'm really looking forward to hearing your update in 6 months.
Which neighborhoods in Columbus, Ohio have you been looking at?
I just recently decided on Columbus after considering a number of different areas, so I haven't narrowed things down yet. My goal is a single family or small multi-family cash-flowing rental in an area with good schools. My sister, who lives in Columbus, has given me a list of neighborhoods to check out. My goal is to have purchased the property by the time my wife and I visit her in 2021.
Do you have any areas you would suggest?
Remington Lyman
Real Estate Agent from Columbus, OH
replied 4 months ago
Originally posted by @Trevor Carlson :Originally posted by @Remington Lyman:Originally posted by @Trevor Carlson:Congratulations @Benson Gee! It's nice to hear your success story. I am looking at buying in the Columbus area too, so your info is very helpful to me. I'm really looking forward to hearing your update in 6 months.
Which neighborhoods in Columbus, Ohio have you been looking at?
I just recently decided on Columbus after considering a number of different areas, so I haven't narrowed things down yet. My goal is a single family or small multi-family cash-flowing rental in an area with good schools. My sister, who lives in Columbus, has given me a list of neighborhoods to check out. My goal is to have purchased the property by the time my wife and I visit her in 2021.
Do you have any areas you would suggest?
North Linden, South of Main, Vassor Village, Woodland Park, MT Vernon, Milo-Grogan, Franklinton, Merrion Village, Hungarian Village, Southern Orchards, Driving Park, Olde Towne East, Franklin Park, King Lincoln, Old Oaks, Livingston Park are all but not limited to some areas in Columbus, Ohio I think will gentrify quickly and make for great long term buy and holds.
Michael P.
Rental Property Investor from Toledo, OH
replied 4 months ago
Good story. Except taking 2 months to get a property in turnkey condition rented? Weak sauce.
Robert Ellis
Real Estate Agent from Columbus, OH
replied 4 months ago
Originally posted by @Michael P. :Good story. Except taking 2 months to get a property in turnkey condition rented? Weak sauce.
Was wondering myself what took so long to get a tenant inside of there