All Forum Posts by: Anthony L Amos Jr

Hi there BP community!  I'm eager to invest in real estate and want to make sure I pick the right market.  Ken McElroy's advice on this is to pick a market that's growing in population.  Any recommendations on what's a great market?  I'm from California and people are exiting/moving out of our state  Was wondering if anyone's seeing major growth in your geography.  Would appreciate a shout if you have insights!  Thanks!

Hey everyone!
Jost got some value deals around Lancaster, and would like to speak with someone is more familiar with Lancaster area.

Thx a'head.

Hello BP,

I am trying to understand how property taxes work in Columbus to better analyze property. From the government website, " Ohio law requires counties to revalue all real property every six years with an update at the three-year midpoint as ordered by the Tax Commissioner of the State of Ohio." Some general numbers I found online are 2.18% on 1-3 units and 2.78% on 4+ units (although I assume this varies on the neighborhood). Also that the tax will be on the appraised value. 

A few concerns I have: 

- This user describes having to pay the taxes of the past 2 years on his new purchase even though he didn't own the property those years. Is this common? https://www.biggerpockets.com/...

-  Pull permits in Columbus and do a major renovation you can lock in the current taxes for 15 years

- read posts where users' tax rates skyrocket after a reassessment 

Questions: 

What can I do to analyze property information more accurately taking into account the possible tax hike? 

Is there any way for me to figure out how much the tax might be raised? 

Will doing a major reno allow me to lock in tax rates for 15 years? 

Would I have to pay property taxes on the years prior to me owning the property? 

Thanks Everyone 

I bought my first home in February of 2021. I paid $96k and have been working on it while living in the house. I’ve recently tossed around the idea of selling. 3 different realtors have all told me it would sell for upwards of $170k due to the renovations and high house prices in the area. After all expenses/fees, I would be able to put a check for $50k to $65k in my pocket depending on what it sells for. I would then use this money to purchase a multi-family rental property. My question is, should I sell my house or have it appraised and refinance and keep this as a single family rental unit? I would not get be able to pull as much money out on the refinance (maybe $25k-$35k depending on appraisal), but I would be able to keep it as a rental property which would cash flow roughly $250/month. Any advice? 

Hello BiggerPockets community,

My name is Zlata. I am new to BiggerPockets and real estate investment.  I am looking to invest in my first investment property sometime next year. I live in California but am looking to buy out of state as prices here are very high. I'm in the market research state right now.  I'm thinking North Carolina, Georgia, Tennessee. Are there any other markets I should be looking in with good landlord laws, lower property taxes, property appreciation, etc.? Any feedback is appreciated.

Hello. I am an out-of-state investor looking to do some medium-minor renovations on a house in Columbus, Ohio. I have a long list of recommended GCs, but not sure what to look for in a quality GC that won't overcharge me or cut corners. Any tips on how to screen GCs and how to go about the process of contracting them and ensuring the work was done correctly would help a lot. Also, if you are a GC and can show some of the work you have, please contact me. Thanks!

Hey everyone, I am new to Bigger Pockets so forgive me if I am posting this in the wrong area. I am 23 years old, own an LLC with my father and brother, and live in California. We are about to close on our first investment project. We bought land on a golf course in Montana, built a house, and am in the process of selling it. The closing date is scheduled for 9/8. Don't get me wrong, it was awesome completing our first real project and we learned a lot. We are making a decent profit but we do not want to do this again. Over the time this was built, I fell in love with studying rental properties and learning all about them, it's honestly an addiction now. We have all agreed that we are going to roll all of our cash and profits into multifamily rentals, and I basically have the most influence and decision power in terms of what we buy and where. My top locations right now are Columbus, Cleveland, Tennessee (still need to do more research on Tennessee but I like it a lot so far) , and possibly Texas if I can find a deal. Lastly, assuming closing happens, which it most likely will, I will have roughly $250k for a down payment, closing, and rehab if needed. I am still very aggressively looking, studying, and learning about other markets across the country. Any advice would be greatly appreciated from those who have done this before. Thanks.

Hey !

Anyone can share with me research about all neighborhoods on Columbus ?

something like that:

https://www.biggerpockets.com/... 

there is a thread like that usually for each city ?

Hi there! Do you have specific questions you ask realtors when looking to BRRRR, specifically when using realtors for property sourcing?

I'll of course ask all the usual suspects (whether they are an investor, how they work with investors, knowledge about the market, alignment with my goals, etc) but curious if you have BRRRR-specific questions you like to ask. Thanks!

I have been seeing that cities like Cleveland and Columbus (Ohio) are becoming increasingly more popular for investors. I'd be curious to know what is making these markets stand out to investors.

Any advice based on experience would be great. Thanks!