All Forum Posts by: Jimmy Lieu

Quote from @Adam Macias:

Wholesaling houses has become a hot topic because some states are making new rules or even banning it. For anyone who is new, wholesaling is when you get a house under contract and then sell that contract to another buyer, usually an investor. The problem is some states say this looks too much like being a real estate agent without a license. Places like Illinois and Oklahoma have put strict limits, and others are starting to follow. Some require you to have a license, while others say you cannot advertise a house unless you own it. This makes it harder for wholesalers to do deals the old way. Before trying to wholesale in your state, it is smart to check the local real estate commission rules and maybe even talk with an attorney. Laws are changing fast, and what is fine in one place might not be allowed in another. I want to hear from others here, what states are you seeing changes in, and how are wholesalers adapting?

I remember when the Colorado state approved contract from DORA had assignability as the second clause of the contract. THE STATE contract approved and used by all real estate professionals had it. But that was at a time where also there wasn't even this idea of a wholesaling guru or double closings to hide how much you're earning.

I say all of this to say if you're a newbie in real estate and you're interested in wholesaling you should partner with someone and do away with wholesaling in general. Find an investor or two and have an agreement to act as their acquisitions manager. In other words, you help with the marketing, you help with the appointments, you help with the sales. Everything you do as a wholesaler anyway except you're saving someone time so they can work on the business, but you work in the business.

You’re spot on that wholesaling has become a gray area because so many states see it as practicing real estate without a license, which is why you’re seeing new laws pop up and more restrictions around advertising or assigning contracts. The truth is, if you’re new, you’ll save yourself a lot of headaches by avoiding the wholesaling “guru” route and instead building real partnerships with real investors. Acting as an acquisitions manager for someone who’s actively buying is a smart way to learn the ropes, make money, and avoid the legal risk of misstepping on contracts or marketing. You’re basically doing the same work—finding deals, negotiating, and bringing opportunities—but you’re working with a buyer who can actually close, which gives you more credibility and faster results. At the end of the day, it’s all about building relationships and adding value to others in the business, and if you do that, you’ll find opportunities no matter how the laws change.

Quote from @Robert Johnson:

Who are some DSCR lenders in that are US based that are good for for first time multi-family investors?

Hi Robert! Welcome to BP. I can send some on my list. You can send me a DM.

Quote from @Maria Carter:

Hi! I am new at BP and considering STR in the state of Ohio or near by Kentucky, seems like good places for STR are Hocking Hills and/or Red River Gorge. Any thoughts, recommendations about moving forward with a STR, or should consider other options or locations? Thanks

Hi Maria! Welcome to BP! Hocking Hills and Red River Gorge are both really popular STR spots and definitely have the natural attractions that drive consistent demand, but just know they can also be competitive and seasonal, so having a strong property manager who knows that niche market is key. Something to consider is that while those rural vacation areas can cash flow, you might want to also look at larger cities like Columbus, Ohio, where STR demand is growing because of business travel, university traffic (Ohio State brings in 68k+ students plus tons of visitors), and big events tied to all the new development like Intel, Amazon, Google, and Honda. The nice thing about Columbus is that it’s a diverse economy with population and job growth, so even if STR laws shift, you’ve still got a solid long-term rental backup exit strategy. That’s harder to find in smaller vacation-only markets. If your main goal is cash flow and appreciation, Columbus could give you both while still leaving you the option to run STRs in the right neighborhoods. Happy to connect and answer any questions you have!

Quote from @Zalman Schurder:

Im looking to flip in Columbus Ohio. Any flippers from the area that can shed some light on the numbers and what to expect?

Wholesalers, Realtors, Where you at?

Hey, welcome to BP! Flipping in Columbus is definitely doable and there’s still a lot of opportunity here, but the numbers really depend on the neighborhood and how you’re sourcing deals. In general, you’ll see lower price points compared to a lot of other metros—many flippers are picking up properties anywhere from $80K–160K and putting in $30K–60K in rehab, then reselling in the $180K–300K range depending on the area. Demand has been strong, especially with so much job growth and population growth happening here (Intel, Amazon, Google, Honda, Nationwide, OSU, etc.), which keeps buyers and renters flowing in. That said, like anywhere, your profit is going to come down to how well you buy on the front end and having reliable contractors lined up. Columbus is one of the few cities where you can still get good spreads and it’s also super investor-friendly, so a lot of people are doing both flips and long-term holds. Happy to connect and answer any questions you have

Quote from @Lisa Holden:

In Ohio 

I have a duplex - my only rental property.  Both tenants were there when I purchased it in March, 2024.  Both renewed their lease with me.  The lower level tenant was due for lease end Feb 2026.  He did a midnight move on July 3rd.  I have painted, fixed up, new ceiling fans, window dressings, etc. and it is move in ready.  Can’t find a tenant that qualifies:  3 times the rent in monthly income, pass credit check and criminal background check. 
The upper unit is not generating enough to pay the mortgage, insurance, taxes and it is COSTING me $550 a month to own this property.  Not good. I’ve listed it for sale with a realtor and considering not paying the mortgage anymore.  
Thoughts?  Anyone ever been in this predicament? 
Thank you, 

Lisa 

Hey Lisa, sorry to hear you’re going through this—it can be stressful when a rental isn’t covering itself. First thing I’d say is don’t stop paying the mortgage because the hit to your credit and future borrowing power would be really tough to bounce back from. Since you’ve already listed with a realtor, that’s a solid move if you’re ready to walk away, but if you’d like to keep it as an investment, it might be worth looking at whether your screening criteria are too tight for the area or if the rent is a bit above what the market supports—sometimes adjusting those just slightly can get a qualified tenant in faster. Another option is considering Section 8 or local housing programs that often cover rent directly and open up your tenant pool. Long term, Ohio is still a strong rental market, especially in places like Columbus where demand is high and properties in the $120–180K range can hit the 1% rule and cash flow, so you’re not wrong for wanting to hold real estate here—it’s just that this particular duplex might not be the right one for your strategy. Whatever you decide, the key is to protect your credit and try to minimize monthly losses while you transition. Happy to connect and answer any questions you have!

Quote from @Bayo Badejo:

Hello BP Community,

I’m excited to be part of this network! I’ve recently joined to learn, share ideas, and connect with like-minded investors. My primary focus right now is wholesaling and multifamily in the N.E. Ohio and Greater Charlotte-Metro areas, but I’m also open to exploring other strategies as I grow.

What excites me most about real estate is the opportunity to create value while solving real problems for sellers, buyers, and communities. My short-term goals are to find an experienced mentor work with, then close my first deal multifamily deal before the end of 2025, while building a strong network, finding partners, and learn more about financing/market analysis. Long-term, I plan to build passive income, scale a portfolio, and find creative ways to give back to local communities.

I’d love to connect with investors, agents, and professionals who share similar interests—or who are willing to share lessons learned along the way. If you’ve been where I am now, I’d especially appreciate any advice on what you wish you knew starting out.

Looking forward to being part of this community and contributing where I can!

Bayo

Welcome to BP Bayo, awesome to see your energy and clarity on both short-term and long-term goals. Getting into multifamily and wholesaling is a solid combo because you’re building deal-finding skills while also working toward passive income, and having a mentor can definitely shorten the learning curve. Since you mentioned N.E. Ohio, I’d suggest also looking at Columbus as you build your network—it’s one of the strongest markets in the Midwest right now with rapid population growth, tons of job creation, and huge developments like the $26B Intel plant plus expansions from Amazon, Google, Honda, Microsoft, and more. The cool part is that even with all this growth, you can still find deals in the $120–180K range that hit the 1% rule and cash flow, which is getting harder to find in other metros. A lot of new and out-of-state investors are finding success here, and it’s a landlord-friendly market which makes management smoother. If I could share one piece of advice starting out, it’s to focus on learning to underwrite deals consistently and then partner with local boots-on-the-ground people you can trust. Happy to connect and answer any questions you have!

Quote from @Steven Rodriguez:

Hello! Im a first time homebuyer who lived in Forest Park, Georgia for 10 years and then moved onto college in the state of florida. Im exploring multifamilies near my area (Orlando) but wanted to consider out of state investing in Georgia instead of states where I am absolutely not familiar with (midwest etc). Any up and coming cities in Georgia where job growth, population growth, and increasing steady rental demand seem to be present? Thanks!

Hey Steven! That’s a solid question and I think you’re on the right track thinking through job growth, population growth, and rental demand before trying out of state. In Georgia, there are some cities beyond Orlando that are showing promise: places like Savannah which has logistics growth + tourism + relatively lower entry prices, Athens with the University of Georgia driving stable demand, Augusta which has been growing in rentals and value, Macon which is still more affordable and showing rising interest for long-term rentals, and suburbs of Atlanta like Duluth and Smyrna which are getting spillover demand from people priced out of the core. Each one has trade-offs (some stronger long-term upside vs easier cash flow vs demand stability), but those are some of the up-and-coming ones you might want to dig into. Happy to connect and answer any questions you have!

Quote from @Steven Rodriguez:

Hello! Im a first time homebuyer who lived in Forest Park, Georgia for 10 years and then moved onto college in the state of florida. Im exploring multifamilies near my area (Orlando) but wanted to consider out of state investing in Georgia instead of states where I am absolutely not familiar with (midwest etc). Any up and coming cities in Georgia where job growth, population growth, and increasing steady rental demand seem to be present? Thanks!

Hey Steven! That’s a solid question and I think you’re on the right track thinking through job growth, population growth, and rental demand before trying out of state. In Georgia, there are some cities beyond Orlando that are showing promise: places like Savannah which has logistics growth + tourism + relatively lower entry prices, Athens with the University of Georgia driving stable demand, Augusta which has been growing in rentals and value, Macon which is still more affordable and showing rising interest for long-term rentals, and suburbs of Atlanta like Duluth and Smyrna which are getting spillover demand from people priced out of the core. Each one has trade-offs (some stronger long-term upside vs easier cash flow vs demand stability), but those are some of the up-and-coming ones you might want to dig into. Happy to connect and answer any questions you have!

Quote from @Frankie Vozzi:

Hey BP Community, Frankie here!

In the last few months I’ve noticed a pattern great deals are out there, but financing is the #1 reason investors are hitting pause.

Some tell me: Rates killed their cash flow, Lenders asking for 25% down stopped them cold, Banks move too slow and they miss the deal 

I’m curious, what’s been the biggest roadblock keeping you from pulling the trigger on your next property?

I’ll chime in with some strategies I’ve seen work, but I’d love to hear your take first. Let's connect! 

Hey Frankie! I’d say the biggest roadblock I’ve been seeing lately is exactly what you mentioned, the financing piece, because higher rates make it tough to hit the cash flow numbers that used to be a lot easier. That said, I think it really comes down to finding the right market where the fundamentals are strong enough to make deals pencil even with today’s rates. For example, in Columbus, Ohio you can still find properties in the $120–180k range that hit the 1% rule and cash flow, and the long-term story here is really strong with population growth, job growth, and big players like Intel, Amazon, Google, Honda, and Microsoft moving in. I think when the market economics are this solid, it makes sense to keep moving forward even with higher rates, since appreciation and cash flow are both in play. Happy to connect and answer any questions you have!

Quote from @Jesse Tourino:

Hello everyone my name is Jesse, I'm new to RE investing and currently looking at potentially investing out of state like in Montgomery Alabama. I was wondering if anyone has done this for section 8 rentals and if it's a smart idea or are there better areas to search?

Hey Jesse, welcome to BP! Section 8 can definitely be a solid strategy if the numbers work and you’re in the right market, since the rent is guaranteed and it can reduce vacancy risk, but the key is making sure you buy in areas where tenant quality is decent and the local housing authority is easy to work with. While Montgomery has some investors running that play, I’d also recommend looking into Columbus, Ohio—it’s one of the hottest markets in the country right now with strong population growth, tons of job creation, and major companies moving in like Intel, Amazon, Google, Facebook, Microsoft, Honda, and LG. The rental demand here is strong across the board, and you can still find affordable properties in the $120–180K range that hit the 1% rule and cash flow from day one. It’s also a very landlord-friendly state which helps if you’re managing from afar, and there’s strong appreciation potential on top of the cash flow. Happy to connect and answer any questions you have!