New Investor looking to build a Columbus REI Network

Columbus, Ohio
Columbus Real Estate Forum
6yFollow

New Investor looking to build a Columbus REI Network

Luke Soroka
Rental Property Investor · Columbus, OH · Member since 2020 · 4 posts · 5 votes

My name is Luke and I am new to REI. I have been educating myself on the BP forums and listening to as many podcasts as I can.

I am reaching out to try to hopefully build a network of people that can help me navigate the process. I am not interested in getting rich quick. I want to start small and learn the industry before expanding. I am perfectly fine with small wins and building slowly. I should also mention I am local to Columbus.

My thoughts on initial strategy:

Long term holds, single family or small multi family

Not interested in rehabs/flips

Want a Property Manager (I work full time and am busy with kids activities)

Don't want to get into a bad deal by any means, but i want to get my feet wet and learn the process and hope to cash flow a bit


Looking for referrals on:

Investor friendly realtors that have the patience to deal with someone new to REI

Property Managers

Lenders

Who am I forgetting?

Thanks in advance!

3Reply
48 views

Most Popular Reply

Daniel Spaizman
San Diego, CA · Member since 2017 · 26 posts · 24 votes
6y

@Luke Soroka

Hi Luke and welcome. This was my strategy when I joined a year ago. I do have some thoughts on agents and property management if you're still looking. Feel free to send me a message to discuss.

A few notes note that may be of value to you:

Prior to the virus, Columbus prices were (and still are at the moment) very high, making it difficult to find a property that cash flows as is.

Have patience and check in with others to make sure your analysis is solid.

Expect a learning curve and account for vacancy in the neighborhood you're investing in. Particularly how time of year affects vacancy.

Good luck!

Daniel spaizman

3Reply
See this reply in the discussion

11 Replies

Jump to latestLatest
  • Daniel Judge
    Rental Property Investor · Columbus, OH · Member since 2019 · 131 posts · 183 votes
    6y

    Welcome to the show. I'm relatively new to this, but can offer a few referrals with honest opinion to get your started. PM me if interested and best of luck!

    1Reply
  • Justin Gottuso
    Rental Property Investor · Columbus, OH · Member since 2015 · 184 posts · 162 votes
    6y

    @Luke Soroka

    Hey Luke :-)

    How old are your kids and what do you do for wrk? I just moved to Columbus myself. Wife and family are following in 6 months.

    1Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    6y

    @Luke Soroka

    Welcome to the BP family! Good to have you here! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/users
    Set up keyword alerts to be notified of the topics that interest you:http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: https://www.biggerpockets.com/podcast

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select the name of that person which should appear below the comments box. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

    1Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    6y
    Originally posted by @Luke Soroka:

    My name is Luke and I am new to REI. I have been educating myself on the BP forums and listening to as many podcasts as I can.

    I am reaching out to try to hopefully build a network of people that can help me navigate the process. I am not interested in getting rich quick. I want to start small and learn the industry before expanding. I am perfectly fine with small wins and building slowly. I should also mention I am local to Columbus.

    My thoughts on initial strategy:

    Long term holds, single family or small multi family

    Not interested in rehabs/flips

    Want a Property Manager (I work full time and am busy with kids activities)

    Don't want to get into a bad deal by any means, but i want to get my feet wet and learn the process and hope to cash flow a bit


    Looking for referrals on:

    Investor friendly realtors that have the patience to deal with someone new to REI

    Property Managers

    Lenders

    Who am I forgetting?

    Thanks in advance!

     It sounds like you have the right idea about getting started. Sorry for the late response. I just got back from Cancun.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    1Reply
  • Justin Keys
    Investor · Columbus Ohio · Member since 2020 · 6 posts · 8 votes
    6y

    Welcome to investing in Columbus Ohio!

    It is a great time and place to invest and hold rentals.

    feel free to message me if you have questions.

    2Reply
  • Austin Steed
    Real Estate Agent · Columbus, OH · Member since 2016 · 593 posts · 664 votes
    6y


    @Luke Soroka welcome to the REI world in Columbus!

    If you go to meet ups and stay active on BP you'll see the same names pop around. 

    I'm not sure where you currently live but I would suggest you look into owner occ loans. I see the numbers work much more often on a low down payment owner occupied loan. 

    For example: I'm a veteran so buying a 2 unit with 0 down makes most properties work, even a turnkey. I've seen this help newer investors get their foot in the door. And this is how I started as well.

    2Reply
  • Zeke Liston
    Real Estate Agent · Columbus, OH · Member since 2018 · 1k+ posts · 1k+ votes
    6y

    That's great, welcome to the site @Luke Soroka!

    0Reply
  • Hunter Ambos
    Real Estate Agent · Pickerington, OH · Member since 2017 · 55 posts · 26 votes
    6y

    Welcome Luke and @Justin Gottuso! I have a few great lenders I work with and a PM company that I've been referred to a few times by different people. Feel free to send me a message if you'd like their info and if there's anything I can do to help!

    0Reply
  • Luke Soroka
    OP
    Rental Property Investor · Columbus, OH · Member since 2020 · 4 posts · 5 votes
    6y

    Thanks all for the responses!  I'm humbled by the willingness to help and share info and knowledge.

    Curious as to what investors mindset is at the moment with what is going on in the world?  Wait and see, or are you continuing to look for and secure deals?

    0Reply
  • Daniel Spaizman
    San Diego, CA · Member since 2017 · 26 posts · 24 votes
    6y

    @Luke Soroka

    Hi Luke and welcome. This was my strategy when I joined a year ago. I do have some thoughts on agents and property management if you're still looking. Feel free to send me a message to discuss.

    A few notes note that may be of value to you:

    Prior to the virus, Columbus prices were (and still are at the moment) very high, making it difficult to find a property that cash flows as is.

    Have patience and check in with others to make sure your analysis is solid.

    Expect a learning curve and account for vacancy in the neighborhood you're investing in. Particularly how time of year affects vacancy.

    Good luck!

    Daniel spaizman

    3Reply
  • William Alonso
    Real Estate Agent · Columbus, OH · Member since 2016 · 42 posts · 37 votes
    6y

    Hi Luke, 

    I'm just starting in the BP community and have already learned a lot from some of the seasoned posters.  I too have been excited to see so much willingness to share and hope to add to that as much as possible.

    I can tell you that from our companies point of view what's going on now isn't changing our investment strategy.  Our model isn't based on speculative buying and needing the market to go up in order for our investment to work.  If the property fits and we like the numbers it wont matter if there's a dip in the market and the value decreases since we're owning long term and eventually it will come back.  Even if the market does slip we're confident in rents remaining fairly stable in the areas we invest.  Hope that helps some.  If you other questions feel free to reach out. 

    Good luck!

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free