All Forum Posts by: Jimmy Lieu

Quote from @Eka Akinola:

Hi 

Could I also have a copy of the map of Columbus neighborhoods.

Thanks

Eka

Hi Eka, yup no problem! I'll send you mine!

Quote from @Ivette Raygoza:

Hi everyone,

I’m a beginner real estate investor based in California, exploring the idea of investing out of state — likely in single-family homes or duplexes.

I’m curious to hear from experienced out-of-state investors:

How did you decide on your market? What factors made you feel confident about the area?

What resources and tools do you use to analyze markets before committing? (e.g., job growth, population trends, landlord laws, rent-to-price ratios, crime rates, cash flow potential, etc.)

What states or cities do you recommend for a first-time out-of-state investor? Any areas you’d avoid?

I’d love to hear about your process, any lessons learned, and the specific tools, websites, or data sources you found invaluable — whether that’s BiggerPockets' calculators, Rentometer, Zillow, or others.

Thanks in advance for your insights!

Hi Ivette, if you're looking to invest out of state, I would recommend taking a look at Columbus Ohio! A lot of my out of state real estate clients really like this market because the macroeconomics look so good for this market - population is growing, job growth is growing, and so many companies moving and developing here. Look at Intel headquarters, Google, FB, Microsoft, LG, Amazon, Nationwide, Honda, etc. Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!). Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k! 

To answer the other part of your question, the biggest thing when it comes to whether someone successfully out of state is whether they have systems, processes, and a SOLID real estate team - agent, lender, PM, contractors, etc.

Your investor agent should be the focal part of your team - they should be able to send you personalized deals (on-market, off-market, pocket listings, etc), they should walk properties and provide investor commentary for why it's a good/bad deal, estimate renovations and develop a scope of work, and should be able to build the rest of your real estate team!

Happy to connect and answer any questions you have! :)

Happy to connect and answer any questions you have!

Quote from @Cole Jennings:

I am new to real estate investing and I am planning on buying a 100k house in the Cleveland area and renting out to section 8. I don't live in Ohio so I would be an out of state investor. The market around where I live is too expensive for me at the moment. Just want some advice on whether this is a good idea for a first-time investor or if I should take a different direction.

Hi Cole, I am really experienced with the Cleveland market and will let you know to be VERY VERY careful about the location you buy. Even if a house is hitting the 2% rule on paper, there are locations that you won't ever be able to collect rent and dealing with constant police calls/break ins. It's not worth the headache! Additionally, the constant turnover will kill any profitability you have. All I'm saying is to be really careful and even if a deal looks great on paper in Cleveland, you want to make sure you're not buying in a warzone. Personally, I moved to Columbus where the neighborhoods are a lot better and can still hit the 1% rule and have tons of amazing appreciation here! Happy to connect and answer any questions you have!

Quote from @Allen Zhu:

Im  new to investing in Columbus and noticing a lot of the homes were built in the early 1900s. My biggest concern is structural and foundation issues—should I be worried? Are foundation problems pretty common here, and what should I be looking out for when walking through these older properties? Any advice from people investing in the area would be appreciated!

Hi Allen, if you are looking for positive cash flow in real estate, you do have to understand that some of the trade offs that you will have to make is typically an older house and something will need some light cosmetics. However, this is where having a great investor agent comes into play.

Your investor agent should be able to walk properties for you and be able to provide in-depth investor commentary on the scope of work, estimated renovation budget, and how the location is. Additionally, they should be helping coordinate and getting a home inspection and contractors and making sure that you're fully okay with the renovation size of the house. They should be able to consult and explain why a deal is good/bad.

I will let you know that if you are looking for a positive cash flowing property, they will need some light cosmetics at the minimum. Most houses here actually don't have foundation or structural issues, and if they did, you would know during the home inspection as well.

If you do see any major red flags or issues with the house, your realtor should be able to help with negotiating remedies or credits accordingly.

Happy to connect and answer any questions you may have!

 

Quote from @Devin Peterson:

Quote from @William Coet:

Are there any 5% rates for multifamily 5-10 units?  I am looking at a deal that will only make sense with such a 5% rate for a 25 year term and 25% down.  I do not want to put more down.

Thank you

What’s the purchase price range you are looking in?

Strongly recommend reaching out to Devin!

Quote from @Samuel M.:

I've been considering  moving out of state and debating on moving into either a single family home or a totownhouse. As a single guy with no kids, I'm still trying to learn if a townhouse is like an apartment where I rent but never own? 

Hi Samuel, I've done the exact same - moved from Portland OR to Columbus OH to invest in real estate myself and it's been the best decision I've ever made. I believe you're referring to house hacking, which you live in one unit of a duplex and then you rent out the other side and try to minimize your living expenses (or to live rent-free!). I did the exact same thing when I moved and bought a 4/2 SFH and rented out the bedrooms to other roommates and was living for free.

If you're looking for a new real estate market, I do recommend Columbus Ohio! The macroeconomics look extremely good here - population is growing, job growth is growing, and so many companies moving and developing here. Look at Intel headquarters, Google, FB, Amazon, Nationwide, Microsoft, LG, Honda, etc. Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!). Lastly, the price point is still very cheap here in the sense that you can still find investment deals that hit the 1% rule for 120-180k! Happy to connect and answer any questions you have!

Quote from @Isaiah Cuellar:

Hello everyone, hope all is good. I'll be purchasing a duplex in Columbus, Ohio soon, and I'm looking for a real estate attorney to work with along with lenders and a property manager. I'm an out of state investor but I'll be moving here as well so if you're out there, feel free to reach out! We can hop on a call or preferably meet in person (I'll be in Columbus for the next few days). 

Happy to connect you with real estate attorneys and other team members in Columbus Ohio! I live in the Columbus Ohio area and work with a lot of out of state investors, happy to connect and answer any questions you have!

Quote from @Brandon Pickard:

Hello BiggerPockets community! I'm Brandon Pickard from Delphos, Ohio, passionate about real estate investing for the last 3 years. I'm particularly passionate about Fix and Flips. 

Outside of real estate, I enjoy time with my family and fishing

Excited to learn and connect with you all!

Welcome Brandon!

Quote from @Paula Reavlin:

Quote from @Jimmy Lieu:

Quote from @Paula Reavlin:

I want to start BRRRing in Cleveland and would like to connect with experienced investors. I currently own 2 properties in Cleveland and live in Los Angeles, CA.  Please reach out.  I am looking to get contractor referrals who work well with investors - fair and fast.  I'm nervous to do these sort of deals with private money loans - have you done that or used your own money?  Thanks! 

Hi Paula! I do BRRRRs in Columbus Ohio! I recently helped an investor do a full clean BRRRR of a 3/2 single family house at $185k purchase price, $25k rehab, and appraised at $264k. The client was able to refinance and pull out all of their capital and own it free and clear now! Happy to connect and answer any questions you have!

 Hi Jimmy, I would like to connect with you and hear all about how you help your clients.  Call me 310-993-9167. Thanks! 

Happy to help any way I can! Feel free to DM me!

Quote from @James Wise:

Quote from @Remington Lyman:

Quote from @James Wise:

Quote from @Remington Lyman:

Quote from @James Wise:

Quote from @Lucas Shorts:

Quote from @James Wise:

Quote from @Lucas Shorts:

my service includes first property closed on that I find is free and then after if you are satisfied with the service we can work on pricing. 

 You know you need a real estate license to do that right?

In ohio you need a license to do things such as negotiate prices, represent buyers and sellers, and sign contracts, but my service is property scouting so finding properties (off market, etc) for investors as well as finding potential clients that are looking to buy and or sell that are looking for a realtor. My services are based off of flat rate fees meaning, for every lead I generate or deal an investor closes on I get a fee (not a percentage), and if I find someone needing a realtor and I referred them then I charge a flat rate fee as well.

 It's right there in Section 4735.01 of the ORC.

 There are a lot of wholesalers out there, yet the division does nothing regarding them. It's unfortunate.

 That's not true. There have been numerous fines issues by the Ohio Division of Real Estate for unlicensed brokerage activity. They publicly report the fines and I've seen some in the 6 figure range. Now don't get me wrong, the Division has enforcement issues. The Division is backlogged on their complaint load by like 3-4 years, so someone getting a complaint in 2025 likely wouldn't be addressed till like 2028-2029, but they do, and have, acted on these matters.

 Damn. 3-4 years...

 It's the government dawg. You ever see them do anything efficiently?

Petition for the DOGE in the Ohio Division of Real Estate