All Forum Posts by: Zeke Liston

List price is $460k, I will offer $360k to start. All 4 units are rented for approximately $2960. I used my DealCheck calculator and my cash flow is $172 per unit. Do you guys think this is a good deal? 

Hey all! I'm new to REI, with one rental unit in Los Angeles. I now have about 40-50% equity based on the appreciation of the home (conservatively). I'm considering a couple options, such as a cash out refi (to buy other properties, probably in the midwest or south). I suppose this would be like a modified BRRRR if so. I would love to connect and chat with others who may be in a similar position.

I've been fascinated by all the stories I've read on here and I am just diving into all the podcasts and blog posts. Cannot wait to connect! 

Thanks! 

Hello all, I am beginning my real estate investment journey.  I just wanted to reach out to the Bigger Pockets community for some guidance. I have read "The Book on Rental Property Investing" by Brandon Turner, " The book on Managing Rental Properties" by Brandon and Heather Turner, and have listened to numerous audio books and podcasts. My long winded question, for now, is this. I want to make sure that I have the Landlord/Tenant Laws for Ohio down. Is there a better, less boring resource than the Ohio codes website (https://codes.ohio.gov/orc/532...) or should I just shut up and read the website? Also, I'm all ears for any tips or suggestions you all may have. Thank you!

Hi All! I'm looking around to see if anyone has suggestions or recommendations for commercial lenders in and around Columbus, Ohio. I'm looking to buy a (small) apartment complex (9 units) and trying to find my best financing option. Looking for community banks in the area, national banks, credit unions, portfolio lenders, etc. If anyone has experience with the process, I'd love to chat- all my previous experience was with residential loans. 

Also what your opinion is on a interest only vs. a traditional loan product?

Thanks,

David 

Hi All,

Looking for recommendations on banks/mortgage brokers to reach out to for for a conventional loan on a single family investment property.

Thanks in advance

@Nathan Silver I know a girl here in Columbus Oh she will stage a 3bd house for $1,300 and allow you to continue using it for $500/month.

Hello to all Canadians real estate investors on BiggerPockets! I am just getting started as a beginner real estate investor located in Vancouver, BC, Canada. I would like to reach out to fellow investors who have experience in cross-border investing, specifically as a Canadian investing in US real estate. After doing some research, I have learned that there are "landlord friendly" states that are more suitable for buy/hold investors. These states can include Texas, Indiana, Colorado, Georgia, Kentucky, Mississippi, Alabama and Michigan... just to name a few. My question is that which state / cities would you guys recommend to dive deeper for a first time buy and hold Canadian investor in the US?

Please also connect with me if you'd like to talk more about this topic!

@Kwame Amoako okay I’ll look around in that area. But how would I establish a good team? I’m located in Hawaii. And trying to invest into real estate from here.

@Brandon Goldsmith

I've heard a lot of good things about turnkey and planning to do so. I'm in the process of getting a pre-approved to start shopping around for some turnkey homes to get some experience. I read a lot of good REI going on from Columbus, OH in your area.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $123,000
Cash invested: $31,000

Contributors:
Remington Lyman

Buy and Hold that needs some rehab (mostly cosmetic) in a gentrifying area. Traditional financing.

What made you interested in investing in this type of deal?

I've been looking to add additional multi-family units to my portfolio. I like this area that sits between two very nice parks and is seeing lots of investor attention as it gentrifies.

How did you find this deal and how did you negotiate it?

Remington Lyman found it for me and I got it into contract as fast as possible and did have an inspection period on this.

How did you finance this deal?

Traditional financing with 25% down.

How did you add value to the deal?

One side is occupied the other is vacant. Both sides need rehab and updating. I will be updating the vacant side and renting as soon as possible. I will then consider a rehab on the occupied side.

Lessons learned? Challenges?

The appraisal came back with subject to foundation inspection and remediation. We had to have a PE go out and draw up plans and have a GC put beams in. This was a painful process to work with the sellers during a contract period and required multiple contract extensions, but it was eventually completed.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Agent: Remington Lyman
Lender: Chris Wharton
GC: Mario Siravo