All Forum Posts by: Anthony L Amos Jr

Anthony L Amos Jr has started 6 posts and replied 528 times.

My name is Adam Tamer, and this is my first post on Biggerpockets.com despite being a listener to the podcast for the past few years. I'm 22 years old, currently in my first job (CRE) out of college and am looking to buy my first investment property.

I live in Chicago but am looking to invest primarily in Columbus, Ohio. Because I don't have a lot of capital saved up yet, I'm trying to partner with someone who is able to help finance the property.

To the bigger pockets community - I would love any advice on partnerships and financing with having little money myself (or any general advice!). More specifically, should I look for someone to be put on the mortgage with me? Or what is your experience with lenders when you have a cash partner for the down payment? Any insight is appreciated! Thanks!

Hello Adam! This is a good start. Continue to post and get to know people in the Columbus area. There are plenty of active and passive real estate investors here who would be happy to partner on a good deal. I'm currently lending to two investors and have raised money for my most recent flip myself.

Until you save up the capital continue to research the market, network, and find deals. In this business you either have money, knowledge, or time. Use what you have and the rest will work out

1 Vote

Chicago, Illinois

Quote from @Kez Strong:

Hello,

Looking for some referrals in the greater Columbus area on inspectors & handymen.

I have some great referrals that I have worked with personally.

1 Vote

Columbus, Ohio

Quote from @Ruben Sanchez Jr:

Hello All,

I am a California real estate investor looking to explore the Toledo, Ohio multi family market. I am looking for a general contractor and real estate agent in this market.

Hello Ruben!

Toledo is a great market for long term rental properties!

1 Vote

Quote from @Cathy Lopez:

Hello, Biggerpockets community, This is my first question on this forum.

My husband and I are looking to invest in 3-6 multifamily rental units. We currently have a few single-home investments in Memphis. Here are my questions -

1) What long-term city would you invest in today?

2) Are there any untapped markets left? Or is everything in all of the USA just too crazy and expensive to get into right now?

3) Should we hold our cash and wait?

Look forward to hearing what is out there.

Best,

Cathy & Max

1) What long-term city would you invest in today?

Columbus, OH where billions in development is in process and planned, population is expected to nearly double in the next 10-15 years, construction is booming, and job growth is strong

2) Are there any untapped markets left? Or is everything in all of the USA just too crazy and expensive to get into right now?

If your asking us you already missed out :)

3) Should we hold our cash and wait?

Keep your cash working as hard as your are!

1 Vote

Quote from @Andrew Potievsky:

Hello everyone!

I'm interested in buying my first investment rental property with the goal of maximizing cash flow (e.g. targeting multi-family where possible). I am in New York so I'm looking to buy out of state.

What are some of the most promising cities for multi-family rentals with a growing population/job market and ideally low risk of property tax creep? Additionally, are there any websites / apps that folks use to discover promising cities for RE investments?

Some areas i'm interested in:

1. Columbus, Ohio
2. Orlando
3. Jacksonville

I'm starting my journey with RE and I want to be careful and deliberate with my first buy.

Invest in the wonderful town of Columbus, OH. Home to The Ohio State University with nearly 60,000 students, 5 fortune 500 companies, over +25% population change since 2000, 2016 smart city challenge award winner gaining 50 million dollars in funding from the government ( https://www.columbus.gov/smartcity/), Intel is spending 20 Billion dollars to build two semiconductor plants, and many many more great things presently and coming in the future. Needless to say Columbus will remain a strong real estate market for the foreseeable future.

2 Votes

Quote from @Gary Love:

We have a duplex that cash flows about $1600 in the Columbus, OH area. We have 133k Heloc available and 50k cash. For the more experienced investors what would you do if you were in our situation? Looking for more long term hold but open to suggestions. Just want to make this money make a difference for our future and retirement in about 15 years or so. We appreciate any and all advice. Thank you. Have a great weekend!!!

Repeat! Great job having a duplex with great cashflow.

You should be receiving and analyzing deals frequently to find the next one.

0 Votes

Quote from @Ethan Davis:

Hello bp forum I’m 19 years old and I would like to know if 20k is enough to either house hack or do a fix n flip. I’m in Los Angeles so I’ll have to look for out of state markets. Would Columbus OH, Cleveland OH, Cincinnati OH, or Toledo OH work? Thanks guys.

You could move to Ohio and househack in either of those markets. 20k is 5% down on a 400k mortgage (Do a 3.5% FHA and the rest can go towards closing costs etc.) That's enough to get into a 2-4 unit in the rapidly growning Columbus market.

2 Votes

Quote from @George Young:

I am starting out in the real estate investing world, and am running the numbers for some listings in B and C+ neighborhoods in the Columbus, OH market.

For the rental calculator, I assumed:

Maintenance and repair = 5% of rent

Vacancy = 5% of rent

Capex = 5% of rent

Management fee = 8% of rent

Leasing fee = approximately 8% of rent (assuming typical lease lasts 12 months and leasing agent / property manager charges 100% of first month rent)

Closing cost = 1.5% of home purchase price

Are these realistic assumptions to make, in particular in B and C+ neighborhoods in the Columbus, OH market? Any insight is much appreciated.

Thanks all!

Typical management fees for beginners is 10%. Is this for Single family or multifamily properties?

It will also depend on the condition of the mechanicals etc. i.e. brand new a/c and furnace then you may initially be able to reduce you capex to 3%-5% on SFH

0 Votes

Columbus, Ohio

Quote from @Yosef Sod:

Hi everybody,

I am starting out my investing career and could use some advice. I am looking to invest out of state and am not sure where to start. How do i find a good area to invest in? What metrics and trends do you look for to find good locations and cities to invest in? How do i find those trends?

I am not looking for answers like "Columbus OH is hot", I want to understand on a fundamental and then practical level how to find good investments in the entire USA.

What are your goals? What is your timeline? What is your risk tolerance?

Just some of the questions to answer first. Then based off your budget find areas that you can afford. What is your exit strategy? Do you need the money now, later, etc. If your looking for cashflow only and have a lower budget check out places like Toledo, OH. A city full of renters and affordable housing. Do you want to place your money somewhere to grow? Then yes Columbus, OH would be great for a potential appreciation play. There is population growth, job growth, construction is booming, one of the largest universties in the country is here, and more affordable than most markets similar in size. You have to go deeper than Whats a good area to invest.

Good luck

3 Votes

Quote from @David Barksdale:

Purchased new home for living. Want to use the equity to purchase short or mid term rental after the 6 months waiting period.

Check out Columbus, OH which is becoming the silicone valley of the midwest. Plus we are very affordable compared to other major markets

3 Votes

San Diego, California

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All Forum Posts by: Anthony L Amos Jr

Anthony L Amos Jr has started 6 posts and replied 528 times.

Post: Partners, Financing, and First Deal

Post: Looking for inspector & handyman referrals

Post: New to Toledo Ohio Market

Post: Need guidance where to invest in today's market.

Post: Which cities have the most promise for long-term rentals (cash flow)?

Post: What would you do 133k heloc 50k cash

Post: House Hacking with 20k at 19 years old?

Post: Rental Calculator - Numbers to Use for Maintenance, Vacancy, etc. (Columbus, OH)

Post: How to find areas to invest in

Post: Hello I’m new