All Forum Posts by: Zeke Liston
Zeke Liston has started 2 posts and replied 1568 times.
Post: ISO contractors for an STR near Columbus, Ohio
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Hunter Hanlon Taylor:
Hey, all, is anyone familiar with any good contractors near the Columbus, Ohio area who would be good for various updates I need done on my STR this winter? I just bought it in the fall and am trying to complete a bunch of modifications during off-season (e.g. metal roof, certain safety features, treating the deck, possibly updating the fire pit area, etc). TIA.
Hey Hunter, I'd recommend Tyler Hay with Ohio Renovation Solutions. I'm not sure if I can share his info here, but I'd be happy to share his info along with some other recommendations.
Post: Investing in College
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Jenna Schulze:
Hi! I am starting to get involved with real estate investing, but I am only a college student, so I do not have the income to place a 20% down payment for most properties. Are there any options for lower down payment loans in general or even for college students? Thank you!
Hi Jenna, house-hacking is the way to go. Owner-occupant loans will give you the lowest down payment options. I know of one particular loan program in Columbus (I'd need to see if they service Dayton) that offers 0% down for owner-occupants. This is a conventional loan where they also cover your PMI (private mortgage insurance). The only caveat with that loan is that you'll need to purchase in a low to moderate-income tract. Otherwise, you can go FHA, which is 3.5% down.
Post: Looking for good price/rental rate properties anywhere in U.S.
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Paul Whitney:
Hello,
Selling a rental in San Luis Obispo, CA and trying to redeploy equity in 1031 exchange to a better price/rental rate ratio location. Ideally, looking for something along the lines of a 200k purchase price with 2000/month rental income. Anyone know of locations within the states where this is possible?
Hi Paul, yes, this is possible in most cities of Ohio. Columbus, Cleveland, Dayton, and Cincinnati are all cities where the 1% rule is attainable. A client of mine is about to close on a duplex in a C-class neighborhood called Linden here in Columbus for $195,000. Right now, the gross rents are $1,800, but he will raise them to $2,000-$2,200 after closing. Hopefully, this gives you an idea of what you can expect in a city like Columbus.
Post: Looking to purchase a duplex in Middletown, Ohio
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Nick Wimmel:
Hey BP Community!
Im looking at purchasing a duplex in middletown, Ohio. I am an out of state investor from California. Currently, I own my primary home and a rental in San Antonio, TX. Anyone have any experience in this area? I would appreciate any and all feedback, etc.
Thank you!!
Hey Nick, Middletown is a growing submarket between Cincinnati and Dayton, with around 50,000 residents and access to a metro area of over 3 million. The market does offer lower priced investment opportunities and higher cashflow returns, with ongoing revitalization projects like the DORA boosting appreciation potential. While I don’t own investments there, I’ve explored the market and see potential for some long-term growth.
Post: Best city to begin investing
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Jenna Schulze:
Hi! I am starting to become involved in real estate investing and I am looking between two cities in Ohio to purchase my first property (hopefully a duplex). Through my research, it says that Cleveland and Toledo are both good options for real estate investing. Which one is better? Is there a city that's better than both of these in Ohio? I do need a property that is not very expensive, which is why I have been looking into Clevland due to their low selling prices and high appreciation rates.
Hi Jenna, out of those two cities, I personally favor Cleveland. I own about 16 units in Cleveland. The cashflow is somewhat similar, but Cleveland has a bit more going on, and I believe the growth will be better than in Toledo. I would be very careful about what neighborhoods you invest in, though; Cleveland has some serious war zones.
Post: New Construction SFH for investing
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Sachin Amin:
Hello BP community,
Most of the builders do not offer investors opportunity to buy the lots and they claim they are only for primary residence (i;e they will sell only if you are going to live in it (example Ryan homes, Pulte homes etc..) are there any builders out there who can sell to investors for "buy to rent" in Columbus OH? was looking to add brand new SFH to my portfolio. But seems tricky as none of the builders are willing to sell to investors in and around Columbus region ?
any ideas if there are any builders who would sell it to investors like me who wish to add new construction SFH's to their portfolios ?
Thx
Sachin
Yes, there are builders who will do this. It may not be a bad idea to also be added to a MLS search to receive any new build listings.
Post: Ohio Legal Considerations for Rentals
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Kyle Carter:
Hello BiggerPockets Community!
I am about to buy my first property in Ohio and I would like to gain as much information as I can in regards to the different legal issues of which I can face in Ohio. In regards to tenants, to putting the house on Section 8, to the selling of the property. I would love to hear different perspectives.
Hi Kyle, I would recommend chatting with a property manager in the specific city of Ohio you're looking to buy in. I have several Section 8 tenants myself here in Columbus, and overall, it's been a fairly easy process. Once the tenant applies for the unit, you'll have to work with the tenant and Section 8 to get approval, which always includes an inspection of the unit. In terms of selling a property, parts of Cleveland require a POS (Point of Sale) Inpsection, but I'm not too familiar with what all that entails. In Columbus, it's pretty straightforward if you want to sell a property. Hopefully, this gives you a general sense, but I'm happy to help answer any other specific questions.
Post: What's it been like investing in Columbus? Where should I invest?
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Vinay M.:
@Zeke Liston
Do you think investing in property values from 120-180k in upper class c neighbourhoods is a achievable for my first OOS?
Yes, you can find a duplex for around $150,000-$200,000 in a C neighborhood here in Columbus.
Post: Too good to be true to have connected with a real estate agent who has a whole team?
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Richard Bautista:
Good evening and happy new year,
I need input on something that seems too good to be true.
I just got off the phone today with an investor-friendly real estate agent in another state (not NYS) who has a whole team behind her and has made it seem as if real estate investing is a much simpler process. I am a beginner investor and I have discussed my investing goals with this agent. I wanted your typical 3 bedroom house (not necessarily 2 bath) which cash flows. She goes on to say that for her beginner investors, she doesn't let them buy over $100k total (including purchase and rehab), she already has a tenant pending for a particular property she currently wants to sell, already has a good relationships with a lender, and doesn't let rehab go over 2.5 weeks.
In terms of property management, she mentioned that she has her own property management company. She is planning on renting out to section 8 and has pacified my worries about section 8 tenants. She just seems to be well versed with dealing with section 8 tenants, which is huge in this area of the United States.
She has already sent me the address of the potential investment property. It is not on your typical zillow/redfin/trulia site as she said it is directly from the seller.
I met this real estate agent on facebook, seems very active within the real estate community in that particular area based on the posts she's engaged with.
The only red flag that stood out is that she strongly discourages flying out to the location and scoping out the property as she said it could get expensive and we could instead use that for a downpayment.
I really would like to invest and just buy my first property already. I just keep hearing over and over again to just take action and course correct from there.
I would like to ask the advice of the community - can I get some viewpoints on how I could double check this lady's work? Maybe I'm already answering my own questions - would it be rude to ask for references from other investors she's worked with? how can I do this without sounding like I don't trust her? Is it imperative that I actually go see the property before I close on it? What else am I missing?
How do you deal with doubt? I also don't want to show any type of distrust towards her as I feel that she is a valuable asset (if she is what she says she is).
I'm really glad that I am taking my first steps, that I spoke with a real estate agent, and that I have the BiggerPockets community to lean on for support.
Thank you,
Richard
Hi Richard, the agent sounds like she has a good process put together, and I wouldn't be worried about that. I would do more research (check reviews, check past transactions she's closed, etc). As an agent, I wouldn't feel offended if you asked for references, and if she's as good as she sounds, I'm sure she would be happy to have you chat with some of her close clients.
Post: What's it been like investing in Columbus? Where should I invest?
- Real Estate Agent
- Columbus, OH
- Posts 1,646
- Votes 1,526
Quote from @Vinay M.:
Going to be moving to Chicago next year; looking to purchase a rental property down the line in 1-2 years and just really confused where to go. I know I can't have it all but looking for a stable appreciating with some cash flow and a turnkey SFH. I don't know where to invest, really drawn to Columbus for many reasons (some cash flow and stable appreciation)--what's been some people's positive and negative experiences in Columbus? how did you deal with them? What do you recommend for me? I don't have any income yet as I am just graduating. I know a lot of Chicago investors are here too; but if you were in my spot would you recommend Chicago as prices are too high and I have never been to the city moving next year. Thanks to everyone in advance for their replies.
Hi Vinay, I own multiple properties and live in Columbus. The properties that I like the best are typically in the B/B- neighborhoods. For example, I bought a duplex in a B neighborhood called Reynoldsburg for $350,000 last year. I'm currently grossing around $2,900 in rent per month. The tenants are very stable, and I often forget that I own the property, which is what I want. I also own properties in C/C+ neighborhoods, and although the cash flow is higher, those properties are more hands-on, and I typically experience higher turnover. It's crucial to have a team that can provide both on and off-market opportunities, as Columbus can get a bit competitive. The property tax is higher than other markets, but generally, the numbers still work.