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All Forum Posts by: Anthony L Amos Jr

Anthony L Amos Jr has started 6 posts and replied 499 times.

Post: New Investor Intro

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Ryan Kramer:

Howdy! My name is Ryan, and I live in a suburb on the East side of Cleveland. I currently own one side-by-side duplex in Euclid (purchased end of 2022), and am looking to eventually buy more rental properties, and possibly get into medium term rentals. Goal is to eventually quit my day job (land surveyor, mostly for construction). Had a bad experience with Cleveland REIA and will never go back!


 What was the bad experience?

An investor friendly realtor, wholesalers, Facebook groups can help you find more deals. 

Quote from @Derrek J Hooyman:

I'm trying to focus on properties that appreciate.  What factors are best to look at to determine if a property will appreciate the most?  Any advice?


 Job and population growth are some of the biggest factors for appreciation. 

Post: What should I do with $100K cash?

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Account Closed:

I live in Los Angeles and am new to real estate investing. I have about $100K saved up and am able to save $4k/month. My goal is to build a large enough portfolio to live off of (I'm still in college). I'm interested in BRRRR but not sure which market -- maybe Cleveland or Columbus? I've been reading a ton about real estate, and I'd be interested in becoming an investment-friendly real estate agent. Would it be possible to do deals in the Midwest while I'm still going to college in LA?

Please reach out if you have any real estate groups I can join!


 You can absolutely do deals in the Midwest while in College in LA! Educate yourself on remote investing and build out your local team of deal finders, lenders, contractors, and property managers. 

You can find BRRRR's in Columbus and Cleveland with up to 100k down payment on properties. Cleveland is more cashflow and Columbus offers more potential appreciation.

Facebook groups and joining the local REIA is a great place to start

Post: new investor from california

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Rahul P.:

Hello everyone, 

I am new investor and very new member in the BP community, loving it so far with provided valuable information. 

So many member's here suggested to look into Ohio Columbus rental, brrrr. looking forward to connect with new investor Friendly real-estate agent, Wholesaler, Lender

My area of interest: BRRRR, Fix & Flip, Rental
   


Welcome! 

Columbus is a great place to invest due to the growing population, job growth, infrastructure development, and affordability. 

Post: I'm looking for my first flip or rental property.

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Michael Leccese:

Hey everyone! My name is Michael Leccese, and I'm a sophomore at Miami University. I'm eager to start investing in the Columbus area and would love any tips or recommendations on areas and places to look for properties to help me find my first deal. Thanks!


 Look to purchase a single family home or 2-4 Unit in the Oxford/Cincy area 1st. Purchase as a primary residence and rent out by room or unit to other students. When you're ready to graduate, then look to Columbus for your next 2-4 unit. 

Post: Investing in Dayton OH

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Tanisha Blakemore:

RE agent, I currently reside in IL and interested in potentially investing in the Columbus or Dayton areas. Can anyone provide any insights, best areas to invest and PM.

Columbus is a great market for appreciation and some cashflow, with all the major investments by large companies happening here. Dayton is great for cashflow and more affordable than Columbus. It's in a great location, with a new Honda plant being built nearby and being only an hour from Columbus and Cincinnati.

Post: Looking to expand my RE business

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Alexander Rovsek:

I've been a member of BP for over 3 years and love getting feedback and help from everyone!

I started acquiring buy and holds with my business partner last year and we are up to 15 units.

Lately I have been really focused on moving on from my W2 job and expanding the business we have. The rentals are a nice way to acquire passive income but I want to turn real estate investing into my full time job.

I have been looking into a bunch of areas such as Flips, Wholesaling, Pre-foreclosures etc. 

I have a decent amount of reserves and I feel like I need to make the jump and get started. I'm certainly not trying to tackle everything at once but I do want to use these areas to get started.

I'm reaching out to you guys for assistance on what avenues would be beneficial/profitable and how anyone suggests I could get more knowledge or insight on how to execute these strategies.


Any feedback would be greatly appreciated!


Expand your portfolio one state east in Ohio. Columbus and Cincinnati are great for appreciation, while Cleveland, Toledo, & Dayton are great for cashflow. 
Seems your doing well in Indiana, so follow the same template for Ohio 

Post: Looking to grow portfolio with first multi-family

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Robert Burns:

I'm super curious in adding a multi-family home to my portfolio. I am thinking Austin TX might be a good place to start due to the state's tax incentives and the recent decline in prices. Thoughts? Any other preferred cities?


 A city that is mirroring Austin's growth is Columbus, OH. Plenty of tech companies are heavily investing in the area and we already have large established universities and medical facilities 

Post: New to real estate Investing/Wholesaling

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Tanner McElroy:

Hi all, my business partner and I have recently filed for our LLC to start our real estate investment journey in Ohio. We have been doing our research regarding the in's and outs of the different types of real estate investment. Ultimately our main goal build a portfolio of multiple different types of investment properties, buy and holds, rental properties, and fix/flips; but the wholesaling side of real estate seems like an attractive venture as we are just starting with little capital and it could provide us with a revenue stream to become a cash buyer.

That being said, we are currently exploring financing options for funding our first investment property purchase which have brough up a couple questions we cannot seem to get a straight forward answer on: 

1. What is the best financing option for someone just getting in to real estate to purchase their first property and what does that process look like for someone just establishing a business?

2. Are there any true $0 down private money lenders offering pre-approval/financing for properties in the $50-100K range? If not what is a good down payment price/percentage we should be looking for? 

3. Will lender still provide financing in situations where you would like to close on property but do not renovate and immediately list it for sale again? 

4. Do people leave an assignment clause in their purchase agreement that would still allow them assign the contract to a cash buyer able to close on the property in a shorter time period?  What kind of affect if any would this have on any sort of financing that is in the works to purchase the property?


Any information and guidance is greatly appreciated!

1. What is the best financing option for someone just getting in to real estate to purchase their first property and what does that process look like for someone just establishing a business?

Saving your money and networking with private moneylenders is best. It can take a few years to build business credit up to a point where you can make large purchases such a property etc. 

2. Are there any true $0 down private money lenders offering pre-approval/financing for properties in the $50-100K range? If not what is a good down payment price/percentage we should be looking for?

Private money should be based off of the relationships you establish, therefore anything is possible. I don't recommend going to a 3rd party company for private money until you have some experience

3. Will lender still provide financing in situations where you would like to close on property but do not renovate and immediately list it for sale again?

If your asking this I wouldnt touch it quite yet. There are some bridge gap lenders but learn about it before attempting to do a double close etc. There are some tax implications etc as well. 

4. Do people leave an assignment clause in their purchase agreement that would still allow them assign the contract to a cash buyer able to close on the property in a shorter time period? What kind of affect if any would this have on any sort of financing that is in the works to purchase the property?

I don't understand what your saying but I'll give it a shot. If your wholesaling you should have an assignable contract that you can sell to an end buyer. The closing timeline is the expiration of the contract. The buyer of the contract should be able to close within that timeline. There is no "set" number of days to close unless you put it in the contract. Also, you should only be looking for cash buyers so financing contingencies should not be an issue. 

Post: New Investor - Looking for BRRRRs (Anywhere in U.S.A)

Anthony L Amos JrPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 511
  • Votes 696
Quote from @Wayne B.:

I'm a software engineer getting into the world of real estate investing. I'm primarily looking for BRRRR opportunities but I'm open to short term rentals and even flips. I am based in san francisco but pretty open to investing anywhere across the country - as long as it's a good opportunity in a good/profitable area. Would love to connect and invest. Don't have a lot of real estate experience so would like to invest in units under $400K for now and we can scale from there.


Plenty of BRRRR deals under 400k in Cleveland and Toledo Ohio