All Forum Posts by: Tristam Griffith
Tristam Griffith has started 2 posts and replied 73 times.
Post: Painters in Columbus Ohio
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
Sure thing. PM me.
Post: Columbus, Ohio Purchase and Sales agreement?????HELP???
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
No. I'm not telling you to avoid wholesalers. I'm telling you that if you want to wholesale in Ohio, you need to be careful. You need to close with your own money, then as the owner you can turn around and sell. If you try to do closings with new buyers' money, you will get in trouble in Ohio :-)
Post: Columbus, Ohio Purchase and Sales agreement?????HELP???
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
You can purchase one from any title company attorney.
Brent Coombs is correct though. In Ohio, you must purchase the property yourself, then re-sell. If you attempt a dual closing without your own capital, you are setting yourself up for some major problems. Ohio is anti wholesaling. Ohio law says absolutely no one can make any type of a "commission" on any real estate transaction, unless you are a licensed Realtor. Also keep in mind, that purchase contracts are county specific, not just state specific, so you will need a contract for every county you work in.
Post: RE License & Managing Properties in Ohio
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
The answers are correct.
You DO NOT need a license to manage properties you own, or are a shareholder in.
You do need a license if you take a fee for managing anyone else's property.
Good luck!
Post: Cleveland/Columbus - Title Company/Attorney Recommendation
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
Sure thing. PM me. I'll send you a referral.
Post: Looking For A GC For A Light Rehab In Columbus
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
I have one that can do it, but he's booked until November. PM me if interested.
Post: Loan possibilities for a non-us resident to purchase rental(s)
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
Just PM me and I'll send you lender info for Ohio. It should be able to be done :-)
Post: Sell or not to sell
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
It costs about 10% of the sales price to sell, so that profit wouldn't be worth bothering with in my opinion! But, it does speak to appreciation in your area. I would hang on to that building until profit exceeded 50% of purchase price!
Post: HUBZU Property: Potential issues and concerns
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
Hi Abdul Azeez. Brian is correct. I've also bought properties, and the title companies are a pain.
If you have the opportunity to use your own title company, and just buy your own title insurance, DO IT. I had one that didn't record the deed for 3 months after purchase, making it impossible to sell FHA for 3 extra months! It cost me $5k in holding costs.
Post: Worthington Mall BP Meetup
- Real Estate Broker
- Columbus, OH
- Posts 86
- Votes 45
Shay, I have to cancel. I'm sorry. It's financial aid bight at my daughter's high school. We have to go, because it turns out she's valedictorian!