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All Forum Posts by: Harrison Chow

Harrison Chow has started 7 posts and replied 271 times.

Post: Finding a market to do a flip as a newbie - the question isn't what you may think

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362

Hi there! If you're considering a closer market for your first flip where you can be more hands-on and have the option to drive 2-4 hours to inspect the property, but you want a location outside of Las Vegas, Columbus and Dayton could be a potential option. Ohio, offers a balance of market stability, affordability, and accessibility that may align well with your goals as a first-time flipper. It's important to conduct thorough market research, build a local network, and gain a good understanding of the specific neighborhoods within Columbus to make an informed decision. Columbus's real estate market could be a promising choice for your upcoming flip, allowing you to be hands-on while benefiting from a growing market. If you have specific questions about properties in Columbus or need further guidance, feel free to ask, and I'd be happy to assist you





Post: Best Cities To Invest In Rental Properties

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362

Hi there! I'm familiar with both the Cleveland and Columbus markets, and I'd be happy to help you gain some clarity on which might be the better choice for your rental property investment goals. Each city has its own unique dynamics, and the choice depends on your specific investment strategy and preferences. Let's connect and schedule a call to discuss your goals and dive deeper into the pros and cons of both markets. Feel free to message me with some times that work for you, and we can set up a time to chat. 

Post: MTR/STR in/around Columbus

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Benjamin Hirsh:

Hello

I'm looking to invest in a STR/MTR in the Columbus area. Not a local, but have experience investing in LTRs/MFs elsewhere. Looking to start to build a team, but first would like to get a sense of the market and good areas for the STR/MTR in Columbus?

Thanks in advance

Ben


 Hey Benjamin, I just sent you a DM! 

Post: New to BP, looking to make my first multi-family rental investment

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Kevin Cullen:

Hi y'all! I've decided to take the leap into the small multi-family rental investment world and would love to meet some folks doing the same inthe DFW area. 

I currently own one condo rental unit that I rent out to mid-term tenants (mostly travel nurses), which has been great, and have another property that will soon have a room rented to mid-term tenants as well. I'm happy to answer any questions anyone might have on that front!

While I'm keeping my eyes open for the rare multi-family unit that pops up in DFW, I’m also looking in San Antonio and a few spots in the Midwest. 

Looking forward to connecting with other BP members online and in person!


Hi Kevin! Glad to hear you're considering the Midwest! Ohio is worth looking into as it is home to the vibrant cities of Columbus, Cincinnati, and Cleveland. These cities have been experiencing steady population growth, job growth, and a relatively low cost of living, making them attractive places to invest in rental properties. Additionally, Ohio has landlord-tenant laws that are favorable to landlords, providing them with more rights and protections.

Personally, I focus my investments in Columbus, as it has a strong history of impressive appreciation and is expected to continue to do so in the future. This is largely due to major companies such as Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center investing heavily in the area, creating numerous job opportunities. If you're interested in learning more, please don't hesitate to let me know how I can be of further assistance!

Post: New to BP, looking to make my first multi-family rental investment

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Kevin Cullen:

Hi y'all! I've decided to take the leap into the small multi-family rental investment world and would love to meet some folks doing the same inthe DFW area. 

I currently own one condo rental unit that I rent out to mid-term tenants (mostly travel nurses), which has been great, and have another property that will soon have a room rented to mid-term tenants as well. I'm happy to answer any questions anyone might have on that front!

While I'm keeping my eyes open for the rare multi-family unit that pops up in DFW, I’m also looking in San Antonio and a few spots in the Midwest. 

Looking forward to connecting with other BP members online and in person!


Hi Kevin! Glad to hear you're considering the Midwest! Ohio is worth looking into as it is home to the vibrant cities of Columbus, Cincinnati, and Cleveland. These cities have been experiencing steady population growth, job growth, and a relatively low cost of living, making them attractive places to invest in rental properties. Additionally, Ohio has landlord-tenant laws that are favorable to landlords, providing them with more rights and protections.

Personally, I focus my investments in Columbus, as it has a strong history of impressive appreciation and is expected to continue to do so in the future. This is largely due to major companies such as Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center investing heavily in the area, creating numerous job opportunities. If you're interested in learning more, please don't hesitate to let me know how I can be of further assistance!

Post: Top 5 Markets for the Perfect Balance of Cashflow and Appreciation

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Logan Francavilla:

I am going to purchase my first investment property sometime later this year, and my research has pointed me to 5 different markets for a good mix of cashflow and appreciation:

Columbus OH

Memphis TN

Indianapolis IN

Kansas City MO

Oklahoma City OK

Anyone have any feedback on these different markets? Do you see a good balance of cash flow and appreciation coming from these various cities? Any insight would be greatly appreciated!


Hi Logan! Columbus Ohio does offer a combination of both cashflow and appreciation. This is largely due to substantial investments made by major corporations like Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center in the area. A growing economy translates to increased job opportunities and population growth, which can drive both rental demand and property appreciation. Population is increasing by 0.75% annually and there is a 3.58% yearly increase in employment growth. Rent prices in Columbus have also increased by 6% each year.

If you're interested, please let me know how I can assist you further. My team and I also have a good infrastructure in place for out of state investors (i.e. connections to contractors, property management companies, lenders etc.) I would be delighted to discuss this topic with you in greater detail!










Post: Looking for a multifamily mentor

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Dror Brumer:

Hi all, 

I am looking for a mentor that will help me to achieve my 2024 goal of buying a multifamily investment 

Currently I have SFR long term properties and I am looking to take the step to buy my first multifamily investment . I read a few books about multifamily but still feel I have a few part missing in the puzzle.

What do you think? 

Dror  


 Hi Dror, I just sent you a DM!

Post: Markets with decent cash flow for small investment

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Carla Pareja Paris:

Hi! I’m try to get started on doing some small RE investments. I’m educating myself at the moment, and I would like to start small with a rental property below $100k. I’m wondering if anyone could provide any insight on attractive markets with decent cash flow for investments if this size. I read about Cleveland, OH, Toledo, OH,  Champagne-Urbana, IL, Jamestown, NY  or Fort Wayne, IN as potential good options. Thanks very much in advance! 


Hi Carla! I'm not so sure about the other markets but i know the Cleveland and Toledo markets are particularly promising for real estate investments.

Cleveland offers a range of opportunities for investors looking for decent cash flow. The city has undergone significant revitalization efforts, resulting in a growing job market and a thriving downtown area. Cleveland's affordable housing market makes it an attractive destination for renters, ensuring a steady stream of potential tenants.

Toledo, on the other hand, features a stable and diverse economy, driven by industries such as healthcare, manufacturing, and education. Toledo's low cost of living and affordable real estate prices make it an excellent choice for investors seeking properties below $100k.

Hope this helps and if you're interested, please let me know how I can assist you further. I would be delighted to discuss this topic with you in greater detail. Best of luck on your real estate journey!






Post: New investor, saved $100,000 and looking for the right long term hold market

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Lucas Anderson:

Hello, I'm Lucas Anderson. I've been a huge stalker of the BP community for some time now, soaking up all the valuable information you all have kindly given over the years. Now I'm financially ready and have the time to really focus on and truly begin my real estate investor journey. I've saved up $100k and am looking to find multi and single family properties for long term holds. I currently split my time between the USA and Germany and will be doing this all "out of state"

I believe I have a good sense of what to do once I acquire the property, but the golden question that we all are asking - what market to choose?

Currently looking at: Omaha, Columbus, Milwaukee, Cleveland,

My strategy isn't groundbreaking, and of course, this BP community knows it all too well, but it goes a little something like this:

1. Find a property in a specific market with "hidden value"

2. Purchase this slightly distressed to distressed property in a C to B area (cash if I can afford it)

3. Rehab adding value back into the property 

4. Finance or refinance cash out

5. Long-term hold, long-term rent

6. Do it again brrrr

Of course, you can find hidden value in any market, anywhere in the world, even right off the MLS but what I'm looking for more specifically is where a newbie out-of-state investor and "safely" begin with the small amount of cash on hand I have.

Ya'll rock, I hope I one day will be one of the old dogs providing value to the young pups. 


 Hi Lucas, glad to hear you're considering Ohio! Ohio is truly worth considering, as it is home to vibrant cities such as Columbus, Cincinnati, and Cleveland. Cleveland is renowned for its robust cashflow potential. I prefer to focus my investments in Columbus though, as the city has experienced a noteworthy surge in property values which is expected to continue in the foreseeable future. This is largely due to the substantial investments made by major corporations like Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center in the area, generating a wealth of employment opportunities. Population is increasing by 0.75% annually and there is a 3.58% yearly increase in employment growth. Rent prices in Columbus have also increased by 6% each year. In addition, Ohio's laws governing landlord-tenant relationships are generally advantageous to landlords.

If you're interested, please let me know how I can assist you further. My team and I also have a good infrastructure in place for out of state investors (i.e. connections to contractors, property management companies, lenders etc.) I would be delighted to discuss this topic with you in greater detail!

Post: How should I use $100K to maximize profits?

Harrison ChowPosted
  • Real Estate Agent
  • Columbus, OH
  • Posts 289
  • Votes 362
Quote from @Tiara Ferguson:

Hello guys! 

I am a 34 year old woman in Ohio pending a divorce and will have about $100k to start over and rebuild when the dust is settled in a few months. I've dabbled in several investment types with limited success (stocks, crypto, etc), and the only thing that paid off significantly was our marital home (it nearly doubled in value since 2018)! So I'd like to embark on my real estate investing journey to grow my money, and am curious as to how you all would go about doing this to achieve the best ROI! Here's my situation:

 My goal is to establish passive monthly income along with owning properties that accumulate in equity. I will not need this money immediately, so am open to either short term or long term strategies. 

I have a credit score of 738, make about $105k a year in base salary and also earn about $30k-50k annually in bonuses. I currently have $100k liquid and am saving an additional $4k per month. Additionally, I am in our marital home and can remain once the divorce finalizes, but if I decide to sell or refinance the home to get money out, I would have an additional $80k in funds from equity to use for whatever route I decide to pursue in real estate. 

I am totally new to real estate investing (other than the primary home we own), and know nothing about maintenance/repairs or the costs of contracting someone to do this on a potential home (my now ex was in the home renovation industry, so he took care of all this)-- but I have the expendable income that would allow me  to afford improving a property if it is  in need of a little care. I also would prefer to be hands-on since this would be my first investment property, so am primarily interested in real estate in the Columbus, OH market and other local surrounding areas. 

Any tips or insight would be extremely helpful!


Hi Tiara! Thank you for sharing your situation and goals. Given your financial position and desire for passive monthly income and equity growth, investing in multifamily properties can be a smart strategy for you. Multifamily properties offer the advantage of building equity through property appreciation and paying down the mortgage with rental income. Over time, as the property appreciates, your investment can accumulate substantial equity. With your savings capacity and potential for property improvements, you can also add value to the units and increase rental rates over time. Financing options for multifamily properties are often more favorable than those for commercial properties. With your credit score and income, you may be eligible for competitive interest rates and loan terms.

You also mentioned that you prefer to be hands-on which is great because your involvement can help you learn about property management, maintenance, and tenant relations, and potentially improve your skills as an investor.

Hope this helps and feel free to reach out should you have questions. Best of luck on your real estate investing journey!