All Forum Posts by: Jim Doyle

Hello, I've befriended a neighbor in my neighborhood over the last couple of years who is in there 90's and no longer has any family left and doesn't necessarily know what they'd like to do with there house when they're gone. I told him I'd love to purchase it and we've agreed verbally that it would be ok, however what would be the best option to put together a legal contract or something similar? Would a scenario like this be an opportunity for a subject to? The house is paid off, but I'd like to make sure we close a deal in a timely fashion. Any tips or advice would be greatly appreciated. 

 Thanks Kyle, but I think this validates the point that I was trying to make, correct me if I'm wrong, but you and Remington both work for Reafco, which is great, but this makes it hard to feel like I'm getting authentic feedback when it's in your best interest to promote your coworker. The best feedback I've gotten about the Columbus Market so far has come from other investors who are not realtors and are not motivated to sell me on a specific realtor or location. I've gotten their feedback based on their out of state experience and they provided me with their numbers. However @Jimmy Lieu sold me with the 26% COC Return, so I'm interested to learn more!

That's a really good question @Valerie Vozza - I'm curious did you ever get an answer to this? Or have a hypothesis now that it's been over a year? 

Hi All,

I’m looking to make my first out of state investment in Columbus Ohio. Reason being, I went to college in Ohio, have friends that live in Columbus, know this is a great market for out of state investing and I have a partner that grew up in Westerville and is willing to go 50/50 on our first deal together.

I'm excited about this opportunity and looking for a Real Estate agent in the Columbus market that can help me find a duplex or triplex that has a COC ROI of 10-12%; however just like any real estate investment or dating app, I have parameters for my realtor.

What I'm looking for: 

1) A realtor who owns rental properties of their own in Columbus.

2) Is not in their 20’s; 

3) Has experienced a recession, or economic downturn.

4)  Understands the benefits of a long-term relationship instead of a quick buck or making a commission. 

5) Properties that have a COC ROI of 10-12%

6) Can find the above with A budget of $300k

This is based on my experience in the forums, I’m getting properties sent to me that are in poor neighborhoods that are graded “C” or “C+” by the realtors, and then when I ask anyone that lives in Columbus, they’re telling me these are piss poor neighborhoods to invest in (north and south linden). I’ve also had a realtor try and sell me a property that he owned, bought in July and is trying to sell to me for $70k more after putting in new windows. (No thank you)

If interested (Please Swipe Right)

Any help is greatly appreciated. Also any out of state investors, I'd love for some recommendations on real estate agents that you've found useful and/or a good proprety management company as well

I'm very interested in this as well, but finding a hard time finding a good perspective because the majority of the people that respond on Bigger Pockets are 20 somethings that are real estate agents that have only lived through bull markets and positive cash flow years; so Im apprehensive to get non-biased feedback. I'm fortunate enough to have friends that are a bit older and aren't completely bullish on Columbus as they're not Real Estate agents and have lived there for many years... 

@Allen Tracy - Curious where your research lead you on this post given it's been over a year; did your team decide on a market that seemed more suitable than others? I assume as with most markets there is some give and take in what you're willing to give up for say a better deal or neighborhood.

This is good news to hear about the landlord friendly state; I went to school in Kent awhile back and still have a good network out there. I'm looking to start out of state investing from WA in Ohio and looking to find an investor friendly realtor and leverage my Ohio network for reccos as well. 

Thanks @Joseph Crunkilton as this will be my primary residence I'm committed to staying in state and househacking as I'll need a place to live. I think the out of state investing will be a follow up for me down the line as I build equity and get some experience under my belt with a couple of house hacks. I think when I do decide to invest out of state it will be in Idaho or Ohio as I have connections in both states that would provide a bit more of a competitive advantage versus a state that I'd be starting from scratch in.

 @Daniel Nobile- I'm also looking for some househacking properties or examples that you could share with me; that is my goal over the next year; bo purchase a MF in the greater Seattle Area that would potentially cash flow after 1-2 years of me living in it and moving out. I'd take advantage of the FHA Loan, but would put more down than the minimum.

 Thanks @Dave Skow - Outside of Bellingham; it would be tough for me to actually want to live in any of those locations; I'm trying to balance finding a market that makes financial sense, with a place that I'd want to live where I'd be able to have a little bit of a social life; all my friends experiences are in the Seattle area.