All Forum Posts by: Tristam Griffith

Good morning! $35k is the minimum. The reason is because closing costs are not(by law) allowed to exceed a certain percentage, and under $35k it automatically does, because most banks closing costs are set. Usually $2,800-$3,300, then you add the prepaid items such as insurance, taxes, etc..

I can give you the names of two lenders that can do the loan. If you need them, just PM me. 

Good luck!

Hi Brandon.

I just had my attorney do one for me in Columbus, Ohio.  I used 

Sara Wietelmann with Landsel Title to do it!

There aren't many 5-10 plexus currently available, let alone with owner financing. I have a 4plex that is open to owner financing.

I LOVE owner financing and pitch it my clients frequently. You do a 3 or 5 year loan at 8% interest. It lessens your immediate tax burden and you make up for the taxes with the interest. 

So, you can PM me with your info if you want to be on my list when owner financing opportunities come it.

Good luck!

Wow Tyler Adams. $45k saved up at 25 is amazing. 

You have lots of options in Columbus. 

If you have a full time job, and can get a loan, buying a multifamily is definitely a good option. You can live in one and rent the others out. You can buy up to a 4plex and take advantage of owner occupancy rates.

Or, buy a single family home in Linden, and pay cash. You will pay about $35-$40k and you will get $650-$700 rent monthly on it. 

Good luck. I'm in Columbus, so if you want to do coffee sometime and talk investments, just let me know. Good luck!

I'm in Shay. And it was great to meet you yesterday!

Hello all.

First things first.

Zillow uses average square foot in a one mile radius. That doesn't work. Why? Because I can have a home in Hilliard by Dublin Rd in a subdivision at 3000 sq feet for $350k and a home .25 miles over on the Scioto River that's worth $900k. The one in the subdivision and the one by the river will come in around the same, because they are the same size. Zillow doesn't factor any extenuating circumstances in. Now, that being said, if you have 10 sq miles of the same type of house it's probably incredibly useful.

I deal with this pretty frequently with my flippers. They will call me and tell me they want to bid on a house at $100k, because it's worth $180 fixed up according to Zillow. Zillow doesn't know this house is in a 1970's subdivision, but there's a new build sub-division right across the street. Once I use comp's only in that subdivision, we're back to $135k. But at least they called and didn't just bid at an auction, etc.. 

As far as the auditor's site, there is literally no quantifiable way they decide values in our county. Some counties go by last sales price. The county I live has some of the auditor's appointed evaluators drive by properties and guess. Want your property value to be low? Make sure your home's exterior looks like crap.

The best way to get a value is to get a Realtor's professional opinion. Don't want to work with a Realtor to buy/sell? Just pay them to do your analysis'. 

:-)

I would prefer not to give addresses out. I owner financed them to someone.

I owned the rentals from 2011-2014. 2 bedroom / 1 bath =$550 a month. 3 bedroom, 2 bath =$700 a month. 

Yes, I still own rentals in Columbus, just not there!

The tenants are pretty dirty there and they all hang out at each other's homes and spread them. One of the neighboring houses had a sign on the front that said "Do not ask to come in. We don't want bedbugs." lol.....

Hi David Stone.

That is a GREAT question!

I am also in Ohio, and I have reviewed this extensively with my insurance agent. It can be done. 

You have to have the tenant get the dog certified as a :

Canine Good Citizen® 

It is a program that shows the owner and dog are responsible.

http://www.akc.org/dog-owners/training/canine-good...

Here are the dogs that are on the "dangerous dog" list:

American Pit Bull Terrier

American Staffordshire Terrier

Chow Chow

Doberman Pinscher

Presia Canerios

Rottweiler

Stafforshire Terrier

Wolf Hybrid

Once you have the animal certified, the duplex can be insured with anyone. My insurer is Nationwide. If you need my insurance persons' contact info, just PM me!

Hope this helps.

Just find a local Realtor that you are going to buy/sell through, and they will do the market analysis' for you. No sweat. 

I'm in Columbus if you want to meet for coffee sometime.

Dana, Brehl & Central.