Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Tim E.

Tim E. has started 3 posts and replied 29 times.

Considering he really doesn't know who he's talking to on the other end of the line, he's awfully forthcoming about his (and his brothers) actively fraudulent activities.  He's either too ignorant to know any better or just doesn't seem to care.  Neither of those traits would help qualify him as a good tenant.  Too funny.

Post: MLS Listings

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

Thanks for the responses. I'd read a lot about some folks who don't bother with MLS listings due to the competition and/or mark-up and the slow turn around of info. Good to read that one can still find a prospective deal by pursuing listings.

I asked because I'm trying to pursue a lead that was found on the MLS, but I'm having trouble getting the required information from the agent in order run the numbers. I'm doing my own due diligence, but I'd like to see if I'm closer than just "ballpark". This is the third such listing where I've run into where getting current rental info is slow and problematic. My fear is that I'm wasting too much time pursuing info for a property that may not work.

Post: What would you do with my 30k?

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

Pulling money out of a 401k is expensive money.  First, there's a 10% early withdrawal penalty if under 59-1/2.  Second, many employers will withhold an additional 10% for taxes that may be incurred by the employee.  Depending upon what your annual earnings may be, you may be on the hook for more than the employer withheld 10% as the withdrawn money is taxed as ordinary income.

A better option would be to finance more of your investment and/or find a different way to put less down. If you're looking for multi's and you're willing to live in one of the units, have you looked into FHA loans?

Post: MLS Listings

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

I've seen opinions that seem to be all over the map. So I thought about asking the question: Is it worth pursuing a buy & hold property once it's hit the MLS? Is there a preferred method of pursuit?

In the grand scheme of things, I'm sure there are an infinite number of variables for any/every situation.

Post: Intriguing find - almost

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

@Erik Hitzelberger Agreed.  I'm hoping the ongoing issues start mounting enough pressure for me to squeeze my way in.  Appreciate the input.

Post: Intriguing find - almost

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

Thanks @Ned Carey.  That was my initial thought as well.  I'm hoping that the city/county putting some pressure on them might be a tipping point, considering it was a fairy large heroin bust.  The folks running this rental seem to be fairly detached and don't seem to be putting in the requisite time/effort to really succeed.  Although, that may simply be perception.

I appreciate the input.

Post: Intriguing find - almost

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

After visiting my brother, who lives in a good neighborhood in a very good school district, I found that there's a rental property across the street that's been a nuisance.  Including, but not limited to, a recent bust at the property for heroin trafficking by the renters.  I have friends on the police force who say they're going to start putting pressure on the owner due to the 3-4 year history of issues and the recent bust on the property.

According to neighbors (and my brother), the house has gone off and on the market over the span of the last few years.  According to those same sources, the listing price just doesn't seem to be in line with the real value of the property.  There are very few upgrades in the house with the exception of a few things like wood floors.  The exterior lacks curb appeal and any semblance of flowerbeds.  From the information gathered and the sight of the property, they may be renting in order to wait out the market (maybe upside down?).  Houses in this area do well, if they're updated and have curb appeal.

I've done some preliminary searches for the owner and believe I've found them.  Given this situation, how would some of you vets in the business handle this?  What would you do?  How would you proceed and why?  Although I have no numbers yet, it seems like a possible opportunity.

Post: What would you do with this deck?

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

If keeping the deck, I agree with the others in removing the railings.  Maybe soften the square-ness (if possible without adding major work) by angling the corners and add a stair all the way around.  I'd also change the color to something a little lighter (toffee or cappuccino).

If getting rid of the deck, a nice stone patio with stone stairs from the house, short wall opposite the house, two nice open entry points on each side and a fire pit.

The possibilities are endless.  It's a nice open area.

Post: newbie need advise on sub2 and Property management in Columbus, Oh

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

Honestly, I don't know those areas well.  While I'm sure there may be some deals to be had, there's probably little chance of appreciation.  I do know it's a tough area.

Post: Who has the courage to do this?

Tim E.Posted
  • Real Estate Investor
  • Hilliard, OH
  • Posts 29
  • Votes 7

Thanks for the share.  I grew up in a military family and fully understand the significance.  Pass on the congratulations!  Great for him.  Things like this really put life into perspective.