All Forum Posts by: Jonathan Styer

Welcome to the party! Congrats on getting into contract. Feel free to reach out to me for any specific referrals. 

I can only speak for myself but as an agent in Columbus I work with many cash buyers and do indeed take them seriously. Cash buyers are more likely to get their offer accepted here in Columbus and often for less than what a financed buyer will pay. 

Columbus has been around for long enough that a lot of the inventory is decently old. However, many of these homes were built right in the "they don't make 'em like they used to" fashion and as long as they have been cared for properly, there are no structural issues. Most of my investments around Columbus are around 100 years old and I don't have any with structural problems. 

Its just a matter of buying right on the front end, knowing what you're looking for or having a team in place that does. There are many areas of Columbus which are being revitalized and with this comes older homes but also great opportunity. 

Everyone's opinion is different for sure. Even to just use a blanket "Linden" to describe the neighborhood does not really allow for the nuance of the area. South Linden, North Linden and East Linden are all very different in my opinion. For me, I like to invest in North Linden and don't look South of Hudson but that's because that area works best for my specific strategy. I think East Linden is a nicer area overall. I would say South Linden is a D. 

David's opinion of Linden as an F area may have been true when he lived here but I would not agree with that at all anymore. 

If the numbers work and you think it will sell when you're done do it. Smaller buyer pool for 2 bedrooms but they sell every day. 

Is this the best tenant you can get for this property? If yes then rent it to her, if not then don't. 

In my opinion it will matter more the quality of tenants you get. Either they're going to trash the cabinets or not no matter what color they are. I would say get what you want. For countertops, laminate is cheaper but "should" last the 5 years no problem. Granite/hard surface will take much more abuse but will cost much more. 

Sounds like it doesn't work. 

One of the great things about Real Estate as an investment vehicle is your ability to leverage your cash. If you're increasing your P&I by $200 you're still doing well cashflow wise and now you have an extra $40k to purchase more properties that will also cashflow. Seems like a no brainer to keep it and do a cashout refi right now while rates are low. Finding a good PM will most likely help to ease the concern of being an OOS landlord as well. 

Would definitely take this question to your accountant but I imagine the IRS will look at who owns it regardless of "intentions". You're basically using a government backed loan to make your terms better then want the advantages of using an LLC.