All Forum Posts by: Jimmy Lieu
Jimmy Lieu has started 97 posts and replied 2120 times.
Post: Is $23k Liquid Reasonable to Start Section 8 Investing in OH?
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Guenevere F.:
Hi All!
This will be my first investment property. I currently live in Washington State, and am looking to invest in OH, providing housing for Section 8. I’m a full time property manager in my 9 to 5 and manage 138 doors. I’m wondering if $23k of my own liquidated funds is reasonable to start looking for an investment property? Any thoughts and comments welcome as I am very new and open to learning from seasoned investors. Thank you all! 🙏🏼
Hi Guenevere! I agree with the comments here that $23k will not be enough for now. You should budget around 2-5% of the purchase price for closing costs. For reserves, you'll want 3-6 months of potential expenses saved (repairs, vacancies, unexpected costs). Since Section 8 properties often need some work to pass inspection, you may need around $10k or more for potential upgrades or repairs. Ideally, you'd want closer to $40k-$50k to feel truly comfortable and have a safety net for your first investment property. But this shouldn't stop you from connecting with lenders this early. I have Section 8 rentals myself so I'm happy to connect and answer any questions you may have.
Post: New member from Cleveland, OH
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Allen McCann:
I am a new member from Cleveland, OH. I am looking forward to connecting with the Bigger Pockets network.
Hi Allen, welcome to the BiggerPockets community! If you're expanding your search beyond Cleveland, you may want to check the Columbus market. Great macroeconomics with growing population and job market. We still see 1% deals here that bring positive cash flow and have potential for appreciation. Happy to send over some resources on why Columbus is a great real estate market to invest in!
Post: super excited to start investing
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Dennis Knapp:
I Have one double that I live in i bought as an investment just to help pay my mortgage. I've taken a couple real estate courses but Big Pockets is the best and I have been binge watching for the last 2 weeks and im super excited to start investing im looking to do the Brrrr strategy and looking to pick up small multi family properties and possibly off market flips.
Hi Dennis, welcome to the BiggerPockets community! I've done quite a lot of BRRRRs here in Columbus OH myself. And we're still seeing deals here that are positive cash flowing with lots of potential for appreciation. Happy to connect and answer any questions you may have.
Post: Looking for a quality General Contractor to do few repairs/renovations
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Vishal M.:
So I purchased our first ever property in Columbus and unfortunately the property needs some immediate repairs and also some renovations in the long term (1-3 years). This property will continued to be used as a rental property and I am out of state homeowners
I am looking for a quality General Contractor to do few repairs for now and renovations in the near future.
I tried few big names https://thejaecompany.com/, https://www.elevate-remodeling.com, https://rrisler.com/ but either they dont do all types of repair or they are too expensive
Any recommendations?
Hi Vishal! Happy to connect and share my list of preferred GCs.
Post: Real Estate attorney
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Dennis Knapp:
anyone have a good real estate attourney in ohio? im in Cleveland. im guessing they should be from the same state and possibly the same area. thanks,
Hi Dennis, happy to connect and share some helpful contacts.
Post: Hello BiggerPockets! New PRO here
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Maria Jeanette:
Hello BiggerPockets community! I'm Maria J from New Jersey, passionate about real estate investing for a couple months now. I'm particularly passionate about PA, NC and OH.
Outside of real estate, I enjoy trying new restaurants.
Excited to learn and connect with you all!
Hi Maria, welcome to the BiggerPockets community! My advice is to check for markets that fit your investment strategy and goals. And when investing out of state, make sure to work with a local trustworthy professional who will have your best interest and understands your needs. If you're interested in OH, you may want to check Columbus OH. The economy is rapidly growing so we see both cash flow and appreciation potential here. Happy to send over some resources on why Columbus is a great real estate market to invest in!
Post: Advice: New Investor/Small but Mighty Portfolio/ Long Term Game Plan
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Shaylynn O'Leary:
Hello, I' m a newer investor in the process of getting my first property under contract near where I currently live. I live in a good, appreciating market where the average home price is above $700,000. Not a great cash flowing market. The state that I live in is also not landlord friendly. My plan is to have a small but mighty real estate portfolio, much like Chad Carson's book. I want to use the profits from flipping in my home market to obtain and pay off properties in a better cash flowing, landlord friendly market. Initially, the properties that I buy in another market don't have to cash flow a lot, my metric is $150, as I'm focused on the long term gain when they're paid off and I have a W2 and am also a realtor. I'm not looking to leave my W2 tomorrow. However, my hold up is what market to look at that will help me meet my goals. I have looked into these markets: St. Louis, MO, Indianapolis IN, Columbus OH, Cincinnati OH, and Columbia SC. Does anyone have any advice on which direction to go? Thank you!
Hi Shaylynn! I'm an investor in Columbus OH myself and moved here from Portland OR. We still find deals here that meet the 1% rule, positive cash flowing, and have tons of potential for appreciation. The city's macroeconomics is looking great - lots of population and job growth due to the booming tech scene and many companies choosing to move and develop here. The price points are still very affordable, around $120k-$180k. I own a 7-figure rental portfolio here so I can vouch that the rules are super landlord-friendly. Ideally, you want to look for markets with a growing economy, diverse industries, and growing population that indicates strong rental demand. Happy to connect and answer any questions you may have.
Post: Guidance on OOS markets to get into
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Kent Fang ching:
Hello BP community! I am looking to get into out of state investing. I live in San Diego, CA and as you all know, it’s a very high entry point here so looking to get into a long term rental elsewhere. I am looking to use all cash, under 200k, preferably under 180k for a single family or a duplex if viable with my budget. I am a small business owner, business is not doing too well right now so that’s why I’m looking at an all cash buy, so I can get a nice cash flow to supplement. Would like to be in a city where I could get potentially $1,500 to 2k in rent. The list of cities that I’ve come up with so far by my own rookie research is the following, but always open to other suggestions from members that have experience else where.
Waco, Dallas, El Paso, TX
Indianapolis, IN
Pittsburg, PA
Looking to connect with locals who can help build a boots on the ground team as well. Thank you guys so much for any help here.
Hi Kent, I recommend checking out Columbus OH. We're still seeing 1% deals here with positive cash flow at very affordable price points ($120k-$180k). The city is rapidly growing in terms of population and job market with so many major companies choosing to move and develop here like Intel, Google, Amazon, etc. And because of the growing tech scene, rental demand is strong. As an investor myself with a successful rental portfolio, I love the appreciation here as well. Happy to send over some resources regarding the Columbus Ohio market and why it's a great market to invest into!
Post: New to BiggerPockets and Rental Investments Looking to Network
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Samuel Richardson:
New to BiggerPockets. Interested in networking and learning more about multifamily investing. Live in the Columbus Ohio area. Work currently in the accounting field and I’m a licensed CPA in the state of Ohio and West Virginia.
Hi Samuel, welcome to the BiggerPockets community! With your professional background, you're in a great position to dive into multifamily investing. And it will be a big asset when building credible relationships. Happy to connect and answer any questions you may have.
Post: Multifamily Real Estate Investing
- Real Estate Agent
- Columbus, OH
- Posts 2,200
- Votes 1,659
Quote from @Dana Hagans:
Hello, I currently live in Brooklyn, New York. I have a husband and 4 kids. My husband and I are looking to purchase our first investment property next year. We want to get into Real Estate Investing starting off with multifamily. We would live in one unit and rent out the other units. We looking for a 2-3 unit property. We're looking to relocate to a different state within the next 6-8 months. Does anyone have any recommendations on what state would be best to purchase a multifamily unit? We're currently looking into North Carolina and Georgia.
Hi Dana! I personally recommend checking Columbus OH. It's a great market for multifamily investment with strong rental demand and steady appreciation. We have very landlord-friendly rules too! Given your family size and investment goals, you need to explore markets that have strong job markets, growing population, affordable entry prices, and good school districts. And I believe Columbus checks all these boxes. Happy to send over some resources regarding the Columbus Ohio market and why it's a great market to invest into!