All Forum Posts by: Ed W.

@Taneka Redman You can bring flyers and present the property at a meeting this Thursday (March 16th) at Tommy's in Dublin.  Details are located in the BP Networking Events forum.  You can also send it to me personally for my consideration.

@Brandon Kristy Columbus, Ohio wholesalers will be in attendance at a meeting at Tommy's Pizza this Thursday (March 16th) if you can make it.  Details are on the BP Networking Events forum.  In addition to me (I'm a landlord but also a wholesaler), there will be others as well at the meeting.

@Clayton Anderson  Regarding "If anyone has some advice or would like to connect..." if you go to the Networking Events forum of this site, you will find information related to a meeting next Thursday (March 16th) that you may find of interest. 

@Fred Jury You've gotten pretty good advice from the contributors to this thread. You're fooling yourself if you believe an LCC and insurance are going to help in this matter. I seriously doubt the insurer will pay the claim because this is illegal and probably specifically excluded from the contract. The LLC may help a little if it is and has been properly created and properly administered but if someone dies or gets a serious injury, one way or another the LLC won't keep you completely out of harm's way.

I've been in this situation numerous times but had the luxury of having the property be local to me.  You're hours away.  It's simple for me - I sit down and talk to the tenants prior to closing (this is with the seller's permission via my contract) and work it out (or not) that the problem will be gone before I close.  The tenants can clean up their act prior to close or the seller can evict them (though it might take 2 or 3 months) or work through code enforcement (slight danger but better than the current circumstance) to effect the change.  In all cases, consultation with a knowledgeable landlord-tenant attorney is highly advisable before doing anything.  Bottom line, I don't close till that major liability is gone.  Far too much risk.  Any liability that can kill people and or land you on the 6 o'clock news, in jail (whether you are guilty or not), and penniless is simply not worth the risk.

@Tasha Sich I don't know how often you make it to Columbus but there will be a worthwhile meeting on March 16th.  See the BP Networking Events forum for information.

@Nathan Turner  There is Columbus area real estate group which will be meeting on March 16th. See the BP Networking Events forum for additional information.

@Donovan Keim In addition to the COREE group (which is a good group) there is another good group which will be meeting on March 16th.  See the BP Networking Events forum for additional information.

On Thursday, March 16th, there will be a FREE meeting for experienced and newbie Investors, Landlords, Wholesalers and Flippers at Tommy's Pizza on Dublin-Granville Road between Sawmill and Riverside. Tommy’s is attached to the western side of Oakland Nursery on the south side of Dublin-Granville. The meeting starts at 6:00 PM.

You can arrive and leave at any time but the general agenda of the evening and approximate times will be:

6:00 PM - 7:00 PM: Q&A (helpful for newbies and for experienced investors with difficult problems) - All questions related to real estate are welcome – buying, controlling, and selling properties (for rental, flip, wholesale, etc.); due diligence; rental issues like management, tenant screening, maintenance, pest control; financing (both traditional and creative); marketing; rehabbing; asset protection, and whatever else you want to know about that’s real estate related – it’s all fair game.

7:00 PM: Featured Topic - Over the past several months, our meeting has attracted higher numbers of newbies and investors with modest experience as well as experienced investors looking to expand into new (for them) segments of the business with which they have little familiarity.

The focus this month is going to be on those new to the business and those new to areas of the business with which they have little familiarity. We’ll cover the basics of the various real estate opportunities, talk about some serious issues that can get you into trouble, and – depending upon the mix of interests in the room – focus on the more common areas to start in the business.

8:00 PM – 10:00 PM: Networking - There’s typically a good mix of attendees - usually one or more attorneys, a number of agents, many experienced investors, landlords, wholesalers, contract-assignors, flippers, rehabbers, contractors, lenders, insurance agents, newbies, etc. Let people know who you are and introduce yourself to someone of interest to you. We have the room till 10 PM so mix and mingle and network.

As stated above, except for any food or drink you happen to order, there is no charge to attend. Attendance is usually around 35 - 55. This group has been meeting for years and attracts attendees from Columbus and all over Central Ohio.

The meeting has always been very long on content and very short on “pitches” (typically less than 15 or 20 minutes including a mention of the services of the sponsor).

Our goal is to educate about the business of real estate and how to conduct business in a fair, lawful and ethical manner as well as create an opportunity for networking.

If you have real property to sell or want to let attendees know the types of properties you are looking for, you can bring fliers and place them on a table after they have been reviewed and approved.

If you have a product or service or investment (other than real property) you want to promote, you MUST submit marketing material for those products, services, and/or investments for approval no later than 72 hours before the scheduled date and time of the meeting.

Please note that Sweet Tree Investments Inc. reserves the right to remove flyers and prohibit activities it, in its sole and absolute determination, deems inappropriate.

*DISCLAIMER: Sweet Tree Investments Inc., an Ohio corporation located in Worthington, is the sponsor that hosts the meeting. PLEASE BE AWARE that Sweet Tree does NOT pre-qualify, evaluate, endorse, guarantee or warranty any deal, offering, service, company, entity, or person and strongly recommends that you perform thorough due diligence as well as seek appropriate legal, accounting, inspection, and other professional advice, evaluation, and oversight before signing any documents; entering into any contracts, agreements or commitments; and before transferring any money or giving any person or entity anything of value.

TOMMY’S PIZZA provides the room to us as a courtesy in anticipation of food and beverage sales. You are not obligated to buy food or beverages but it would certainly be a nice gesture if you did so. A gratuity is added to your bill to take care of the server(s). You CANNOT bring in any outside food or beverages.

Looking forward to seeing you at the meeting.

@Adam Collins @Ryan West

Adam, Ryan was probably under some constraint from BP regarding the name of his company.  I don't know Ryan but it sounds like it is likely First Federal of Newark, a company I've done business with for many years.  They may or may not be the best fit for what you want to accomplish but you should definitely talk to them.  They are knowledgeable and are good, common sense real estate people.

FWIW, some years ago one of their owner-occupant borrowers got behind.  I sat down and talked to First Fed and worked out a deal where I could purchase the property subject to First Fed's mortgage without them exercising the due on sale provision as long as my company brought the loan current and wasn't late going forward.  There were some other circumstances related to the original borrower and how I structured my deal with him that helped them say "yes" so I can't say they would just allow a subject to deal no matter what (in fact, I doubt they would).  The bottom line, however, is that they are a very good lender to know and are small enough to listen in the right circumstances.

@Rickey Williams The meeting at Tommy's is next Thursday.  More information can be found in the Networking Events Forum of this site (BP).