All Forum Posts by: Jimmy Lieu

Hello I am on my road to multi family apartment investing! I am look for brokers and ways to approach brokers in a confident and professional manner as a beginner in the space I have a could duplexes and single family rentals so I’m not a complete beginner but new to the apartment world. Anything would help thanks!

I've been really interested in some properties I've seen in Columbus Ohio, but some research I've done advises against it because the market is over saturated with multi family homes. Hoping to talk this through with someone. Understand the advantages and disadvantages of the market. 

Hey Marcelo! 

Welcome to the world of real estate investing! It's great to hear that you're interested in multi-family rentals and are actively researching and assembling your team.

Investing out of state can be a smart strategy to diversify your portfolio and take advantage of potentially better returns in different markets. Ohio and Kentucky are both popular markets for real estate investors, but as you continue your research, be sure to consider factors such as population growth, job opportunities, and rental demand in the areas you're interested in.

When it comes to assembling your team, it's important to work with professionals who are experienced in the specific markets you're interested in. This includes a real estate agent, a property manager, and a solid lender. They can provide valuable insights and help you navigate the unique challenges and opportunities of investing in a different state.

As for lessons learned, every investor's journey is unique, but some common tips include conducting thorough due diligence on properties, having a solid financial plan and reserve funds, and considering non-traditional financing options such as DSCR loans, which are based on the property's income.

I hope this helps, and I wish you the best of luck in your real estate investing journey!

I keep hearing that if you want cash flow, buy in Ohio.   I have been analyzing small multi family properties in Toledo, Akron and Cleveland areas.  When I plug the numbers into the Bigger Pockets calculator, I am ALWAYS showing a negative cash flow.  Over and over again, a negative cash flow.  I have great realtors I that are helping me, but I am wondering what your experiences are getting cash flow in today's market?  Are property prices just too high right now?  We are ready to buy, but not finding any deals.  If anyone has words of wisdom, this fairly new out of state investor would greatly appreciate your help.

Thanks for the insights Jimmy! I am still building up my experience so I am partnering with someone with a bigger/better profile than myself. I expect I will be doing most of the work, with his guidance, and we will need to find a capital partner as well to bring all the cash. When I am in Columbus I'll definitely try to meet up with the REI folks there, cheers!

@Jimmy Lieu hey Jimmy love your hustle. Do

You manage your own portfolio or do you have a property manager/management company?

@Jimmy Lieu @Remington Lyman @Harrison Chow

Thank you for all your messages. Hope to learn more from all of your deep experiences.

With interest rates at the current market rate and the Columbus market, how prevalent are cash flow positive places (non BRRR in the sense that the place is totally trashed or down to the studs, I am OK with minor work) that are less than $250k, with no more than 20% down payment on a mortgage? Ideally, still in a neighborhood that has the potential for high growth (e.g. Franklinton).

@Jimmy Lieu I just messaged you. Thanks Jimmy! I like your ideas for value-add.

I have a background in marketing so that might be something I could equip myself with.

I just want to keep learning about options without as much personal trial/error.

I have no RE experience. Just moved to Columbus in February from HCOL city. Moved here for the ability to start RE portfolio with a lower upfront cost. Also like the Columbus metrics for population/job growth.

- Don't think I want to BRRR for my first home. Potentially too much work/stress

- I've identified Franklinton as an area I am interested in. I think it will gentrify over the next 5-10 years. Also ideal place to get in with $200-250k home prices

- Won't be living in my first property as owner occupied. Signed a 1 year lease on an apartment that will end EOY.

- I want to be able to get around 1% cashflow, but after lightly crunching numbers, it seems highly unlikely, even in Franklinton.

- Goal is to get an investment property this year and then next year once my lease is over, buy and move into Grandview as property (and owner occupied) #2. 

- Long term goal: potentially nomad strategy, adding 1-2 properties per year until I get to 10 properties, at which point I will deeply reflect on what's next.

- What are the best tips/strategies for those that know Columbus well?