All Forum Posts by: Zeke Liston
Zeke Liston has started 2 posts and replied 1566 times.
Post: Property Manager Columbus OH
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Quote from @Kristin Riker:
Hello All,
Does anyone have an PM recommendation for Columbus? I am just beginning my search (single family, small multi) now but would like a starting point to begin vetting some companies. I'm an OOS investor so tryingto build a solid team.
Thank you,
Kristin Riker
Hi Kristin, I have a list of property managers I'd be happy to share with you. I'm also happy to share some other contacts like general contractors, lenders, etc. Remember, your CORE 4 is crucial being an OOS investor, so make sure to vet each vendor well. Good luck!
Post: Just need a little advice on an investment
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Quote from @Nikki Nicole:
Hey, everyone.
I wanted to know if anyone knows about the growth in Dayton Ohio or Youngstown.
I have two offers that where accepted, one for Dayton Ohio, and one for Youngstown.
From my research it seems like Dayton has a lot to do, it’s closer to Cincinnati. Youngstown looks a little slower. The Dayton investment home looks great on the inside but the outside is not that appealing.
The Youngstown was completely remodeled. I’m just thinking about LTR and which one would be easiest to rent out..
This would be my first rental property.
Congrats Nikki! From my knowledge, Dayton has a bit more going on than Youngstown. I would highly consider the price points and rent potential of both properties.
Post: Ohio State S-Corp Income Taxes
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Quote from @Justin Wilson:
Hello,
I was reading up on the requirements to submit tax returns and pay income taxes in Ohio. I've read the CAT is not required if the business has gross receipts under $150k. My rental income is way below that, but I sold a property and the total of the sale price and rental income is over $150k. Is the sale of a property considered part of the gross receipts? If so, do the gross receipts include the entire sale price or just the proceeds from the sale after closing costs, commissions, and paying of the remaining mortgage? Also if the business posted an accounting loss for 2022, will the business we state taxes? Finally, if the gross receipts are below $150k, is the business required to file at all?
Thanks,
Justin
Hi Justin, I'm located here in Columbus. I have an S-Corp setup for my brokerage business and investment business. I've flipped a few properties within the S-Corp I have set up, and the net proceeds have counted towards my yearly income. If I were in your situation, I would reach out to an investor-friendly CPA for advice. I'd be happy to share my contact if you'd like.
Post: BRRRRing in Columbus Ohio
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Originally posted by @Robin Morales:
Hey BP,
I am interested in BRRRRing properties in Columbus. Would love your input on great locations and even recommendations for realtors. Any help would be amazing. Thank you!
Hi Robin, a lot of this will depend on your price range. I'd love to chat to give you some of my thoughts based on the price range you're interested in.
Post: Looking at Columbus OH For Rentals
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Originally posted by @Account Closed:
I'm considering Columbus OH for my next set of rentals. I've heard that properties are affordable, the city is family friendly, the city is growing and is a better choice than many mid west cities when it comes to crime.
There are a few things that I've heard that I'm concerned about though before I take the plunge
1. The city is said to have high taxes, both on properties and on income, which offsets the low entry costs and properties may not cash flow.
2. Winters can be very cold and can have an impact on capital expenses and that can eat into revenue
3. Columbus voted 65/35 for Biden, has a liberal lean and to expect taxes to go up and restrictions on landlords to increase.
For you real estate agents in Columbus, is that your experience? I'm considering the Upper Arlington area.
Hi Mike, I see those concerns, the winters aren't that bad. In my opinion, the pros outweigh the cons but those are some valid concerns. I'd be happy to chat through them.
Post: long distance real estate investing
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
How's your local market? I think it's best to start locally if it's feasible. If not, my local market, Columbus, has great returns.
Post: Real Estate Investing With No Money
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Hi Morgan, that's great! Do you live in the area? You can utilize an FHA loan, which requires very little capital to get started.
Post: Purchasing a property with unpermitted work.
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Hi Curt, I'm the same way. I would much rather purchase a property with permitted work but if I was super firm on that, it'd rule out quite a few opportunities. When purchasing a property without permitted work, I make sure to do extra due diligence on the work during my inspection period.
Post: Inherited Tenant , current lease in place
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Hi Josiah, this should be something that your property manager handles.
Post: Favorite Property Management Software/App?
- Real Estate Agent
- Columbus, OH
- Posts 1,644
- Votes 1,524
Hi Alex, I was using Cozy.com but they recently merged with Apartments.com, which is very similar. I'm a fan of this software because it's free and user-friendly. I'm likely going to switch software soon though as Apartments.com doesn't have all of the features I would want past 20-25 units.