All Forum Posts by: Anthony L Amos Jr

Hi All,

I posted about multi-family back in February. I'm writing again because I've had no luck in finding a duplex to house hack. I'm doing seller letters, reaching out to listing agents to see if their sellers have properties off-market to sell, etc. I'm a Realtor in Columbus, OH but I'm not having any luck yet. What else can I be doing to get in front of the right people?

Thanks!

What is the best way to find a buyers list? New to wholesaling and I have a hard time finding buyers 

Hi BP members!

I need some direction while running my numbers for a deal analysis. When it comes to running the numbers, I know all of the basics such as using the sales price and finding all expenses associated with the property along with getting the rental income to calculate the NOI, Cap rate, and COC return, GRM etc.

What I'm really struggling with is knowing how to factor in the REHAB cost and how to go about that.

-Do I adjust the asking price downward for the costs of the REHAB in order to reflect the realistic offer price?

OR...

-Should I keep the sales price the same and adjust the closing costs/down payment section of my calculator since that's how much I will have to come out of pocket to close and do the rehab.

Or is there another method that I should consider?

Thank you very much in advance and happy investing!

Hi! What’s the average PM rate in the Toledo area? I had one telling me 10% and I’m thinking that’s kinda high

 Thank you Anthony for your response, what zip codes would you suggest I look at in Dayton?

I am looking at a few different out-of-state markets and I wanted to see if anyone is investing in Ohio at this time?

Looking at Cincinnati or Cleveland or possibly Dayton

Would love to hear your thoughts on the market and also some resources for building a team in the areas

What's up guys! I'm in need of some advice/tips for my first investment property. I am moving to Columbus, Ohio next week and will be staying in an Air B&B for a month while I secure a job and look for property. My goal is to get into a duplex (this is really what I want) but I only have a pre approval estimate (not official til I pick up employment over there) of around $150-160k. Unfortunately there are no duplexes in this range, and most of them are over $250k. However, I could qualify for a SFH and rent out the rooms. I really really would prefer to get a duplex as opposed to a SFH and rent out rooms. What are some creative ways that I can finance a duplex/qualify for something well over my loan estimate? Also, many of the SFH have just one bathroom for 3 bedrooms and sometimes 4 bedrooms. If I am renting out the rooms in a SFH, I would really like there to be at least 2 bathrooms for the amount of people living there. I would much rather have a duplex than a SFH but it seems to be almost impossible. I refuse to give up though as it is what I really want. Thank you for any tips on how I can finance this or find other ways to qualify.

Hi Everyone,

My name is Barak, and I am new to real estate investing. I Did my research and decided to invest in Columbus.

My plan is to start out by purchasing SFHs, in a C class (and above) areas with a budget of 120K (All in), 

And in addition my plan is to run a wholesaling business (starting with sms campaign).

Can anyone provide some tips for me?

Any special or unusual RE rules that I should be aware of at Ohio?

What are the best neighborhoods to invest in for buy&hold?

What are the worst (high crime areas)that I should stay away from ?

I would love to connect with agents and wholesalers that work with investors.

Thank you for your help.

Barak

Any suggestions for getting a bit more money to wrap up rehab of a house I purchased with cash?

ARV: $200k

No mortgage on the house. Typical credit score of ~800 but currently 630ish due to very high credit utilization. I’ve been paying for contractors with cash and material on cards.

I was hoping to wrap up the house like this, but had a rental get wrecked and had to pump quite a bit of money back into fixing it up.

Any creative ideas to finance the remainder? Self employed with 11 units on my own with around $1m in available equity across them. 18 additional units in mixed use properties with a business partner.

Thanks in advance!

I'm looking at a nice 1,200 sqft 3-Bdrm SFH in the Scott park area; decent street, newly-renovated, walking distance to the university. However, it doesn't have a DR. It essentially has just a decent-sized "working" kitchen; room for plenty of counter space and cabinets, plus stove and refrigerator, but not a kitchen table and chairs. The owner grew up in the house and says they ate at a small 4-person table in the K. (They either didn't have much cabinet/counter space, or they had to get up from the table every time somebody walked to the refrigerator or sink.) Even a small bistro table would be a tight squeeze with full lower cabinets and counters. Obviously, its not ideal. But, I think it can be resolved using bar stools and few lower cabinets. The question is, how much would you deduct from the ARV for lack of eating space (i.e., no DR or sufficiently large eat-in K)? I don't see an option on any of the real estate web sites where I can deselect "DR" as a Search option to get similar comps, as you can with Bdr and Bath.

Thanks for your input!    :-)