All Forum Posts by: Austin Steed

Hi Dror,

I've heard a lot of good things East of Parsons Ave and south of livingston. This area is right next to the the gorgeous nation wide children's hospital.  Not only is there a tax abatement but nation wide is on board and created HNHF. http://www.nationwidechildrens.org/healthy-neighborhoods-healthy-families They have flipped 70 homes near here and I'm pretty sure they're not done yet....

Everyone knows that homes are selling in hours not months in today's market. So when your competing against 10 offers, 2 being cash and you are just a little FHA how do you make your offer more desirable? At my office, Keller Williams Classic Properties in Columbus, we've been discussing on how to make your self competitive when your not buying with cash in this hot sellers market. I'd like to share! And also if you guys have any other creative ideas I'd love to hear them as well.

1.) Bring an inspector with you on the initial showing. This way you can add in the offer you have done a preliminary inspection and you are willing to wave the remedy period or even better wave the inspection period all together. The last thing a seller wants to see any contingencies, if you can't get rid of finance get rid of inspection. 

2.) If your selling a property to acquire another there are some pretty interesting loans out there like Bridge loans. A Bridge loan takes away the contingency of the sale of your current property because the lender will  actually finance both places. The property your moving into and the property your selling. 

3.) Appraisals, if you know it's something you want you can add to the contract that you are willing to pay above appraised value. This way the sellers don't have to worry about their home appraising to the perfect amount giving you more leverage. 

I hope one of these helps and please feel free to add to the list!   

Hey BP!

I have a rental property in CA and am currently a Real Estate agent in OH. I've got one key question for you all. Is having a property manager worth it? 

Pros

- I'm out of the state

- They do a good job in keeping records

- They find renters

-Any small repairs I don't even hear about

Cons

-$$$

The property management company I have has a 10% fee. My property currently rents for 1250, thus they take $125.00 every month. This is pure cash flow that I am missing out on. Is it worth it? The real question is risk. I could get perfect tenants in there and managing the property would be beautiful. But if I have tenants that are awful, the stress wouldn't even have any comparison. What are your thoughts? Thank you!

Vincent, 

It's awesome to see that your taking action. I actually just had a client of mine purchase a home in Springfield OH. They had over 20 calls for renters in the first day. They took their sign down the second day. There is high demand there for houses to rent. I'm a Realtor in the Columbus area but just thought that I would share. If you have any questions I'd be more than happy to help. See you around! 

Austin Steed

Diana welcome to BP. There is so much information here. I'm a Realtor at Keller Williams and would love to help where I can. Nonetheless, maybe we can meet up and mutually grow our proffesioanal network. See you around!

Nate I have some lenders that I know on a personal level if you would like their numbers. Or I can give them a call for you. Feel free to pm me. Also, congratulations Columbus is way better than Cleveland!  I hope your move goes smoothly.

I don't know if you can use a VA loan but if so with my loan they added the closing cost the the entire principle of the loan.

@Joseph Davis Great that you are here! BP has tought me so much and I think the biggest thing that I've learned is that I don't much. There is just so much information on here. Just as Benjamin said I would be more than happy to meet up with you and share our goals with each other and see where we both are going. Maybe we can all three meet up.

See you around,

Austin Steed

Welcome Kurt it's great to have you. This is one of the best places to learn. I know I still have so much to learn as well!

@John Belluardo Welcome to BP! There is tons of information on here and if there's one thing I've learned it's that I don't know much. I'm in the Clintonville area if you would ever want to meet up.

Austin