All Forum Posts by: Brian Kolb

What are your goals? Fixing and flipping can be a very profitable business however you are not investing. If you want to be a real estate investor I would recommend buying rentals.

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Quote from @Jimmy Lieu:

Quote from @Dhanya Geetha:

Hello members,

I am new to real estate and looking for some insight into the location in Ohio to invest. Thanks.

Hi Dhanya, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Thank you Jimmy! Do you know any neighborhoods you would recommend with properties under $100k?

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Quote from @Patrick Drury:

@Brian Kolb
I own a single-family I rent via section 8 here in Columbus, OH. You need a property manager that is familiar with section 8 and can handle managing that. Also, you just need to be calm, patient, and continually follow up with them to make sure things get done.

Do you know of a property manager I can’t get in contact with?

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Quote from @Evan Polaski:

@Brian Kolb, I started investing in properties I knew I was taking to Section 8 tenants. I am in Cincinnati. Overwhelmingly, my experiences were fairly positive when I started, and the rents I could achieve were above market (financial crisis) and the costs associated with going section 8: regular re-inspections regardless of tenant turnover.

Handling out of state side of it: I always invested locally and almost always self managed. While this is not unique to Section 8, one area that would be hard for me to trust management with is leasing. At the end of the day, your tenants are the driver of your returns: paying on time, taking care of property, staying a long time are all factors. As such, while I set leasing objectives for who is qualified (with Section 8 it is primarily criminal background and landlord references), there are also subjective factors that I can only get by leasing myself: do they communicate clearly and when needed, do they arrive to showing on time, do they look me in the eye when speaking, what questions do they ask while walking the property. With 3rd party management handling leasing, I got tenants with clean background checks and good landlord references, but the tenants didn't stay as long and with a shorter overall tenancy put more wear and tear on the property than the tenants I put in place.

Thank you for your response. Property management is one of my biggest worries with investing out of state. I am hoping to meet an experienced manager that could help with this process. If you know of anyone please let me know. Also, do you have any locations in Ohio you recommend I take a look at?

2 Votes

Quote from @Remington Lyman:

I have section 8 rentals here in Columbus, Ohio. You are going to want to get with a property manager that is familiar with the process.

Do you know of any property managers I should reach out to?

1 Vote

Hello,

I am a relatively new investor from Maryland. I am looking at investing in section 8 housing in the cheaper Ohio market. Are there any tips for a new section 8 investor investing out of state?

1 Vote

HI,

I am 25 years old. I bought my first and only property (so far) at 23. I currently own 1 duplex that I am house hacking while I save and learn for future projects.

1 Vote

Investment Info:

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

Purchase price: $281,000
Cash invested: $40,000

I purchased a single-family home in the beginning of 2019. I spent the first 3 months converting the single-family into a duplex. I now house hack the house, I rent the top unit out and live in the bottom unit. The top unit pays for the mortgage plus some and when I move out the bottom unit will be straight profit. I purchased this deal using an FHA Loan as well as investor money for the repairs. The proforma looks pretty good for when I move out. I am expecting to profit around $1600 a month.

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

I needed a place to live and wanted to get started in real estate investing. I found this deal and figured out a way to make it work.

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

I found this deal on zilliow. Unfortionatly I had to compete with on other buyer for this deal, however I was still able to get it for a good price.

How did you finance this deal?

I used and FHA loan for the deal and a private investor for the rehab.

How did you add value to the deal?

I converted the single family house into a duplex.

What was the outcome?

It cash flows everymonth and allows me to live for free.

3 Votes

Hello,

I am an inspiring real estate investor in Frederick Maryland. I am 25 years old and currently have a duplex that I am house hacking. I am looking for a mentor (someone who invests in Real Estate / Flips Houses / Develops Real Estate) in my area that would not mind me shadowing them and learning from them. In exchange, I am willing to do some work and help out where I can. If you or someone you know is around the Frederick Maryland area and would be interested in a helper please feel free to reach out.

Thank you,

Brian

1 Vote

Hello,

I’ve recently bought a house in Frederick Maryland and I’m planning on house hacking it. I’m going to be living in the basement and renting out the top unit. Is there anyone that can give me there sample lease that I can base mine off of? Or any ideas on where I can find a lease.

Thanks in advance.

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All Forum Posts by: Brian Kolb

Brian Kolb has started 8 posts and replied 14 times.

Post: Large sum of money through a heloc newbie investor

Post: Location in Ohio to invest

Post: Section 8 Investing Tips

Post: Section 8 Investing Tips

Post: Section 8 Investing Tips

Post: Section 8 Investing Tips

Post: Age, how many rentals, and type of rentals?

Post: Maryland House Hacking

Post: Help in Exchange for Knowledge (Frederick MD)

Post: Frederick Maryland Lease