All Forum Posts by: Jimmy Lieu

Hey Folks

Novice investor here looking to make some connections and form a team in Columbus OH to start investing in Multifamily/BRRRR/LTR/MTRs.

A little about me: Working a W2 job in Seattle, just rented out my previous primary home and moved into a second home. Basically, just took my first steps in RE. 

Goal: Since I have a W2 that I don't plan on leaving soon, I am looking for some appreciation/cashflow plays where I would be flexible in trading off appreciation and cashflow but definitely don't want to sustain negative flow(atleast over long term). I started looking in Seattle/King/Snohomish county close to me and the numbers just don't work. Ultra tenant friendly laws don't help as well. So after some research, it seems Columbus Ohio shows hopes and it appears it's  quite a favourite with investors here as well. So having to decide on a OOS market, I think this would be a good area. 

Having said that, now I am looking to work with people/teams that can help me with these goals. Having read and spending a ton of time here, I believe my starting point would be to find a investor friendly agent, work with them to have lenders, contractor and pm set up, followed by buying deals. Ideally I would love to go Brrrrr to keep reusing the money but in light of lowering commercial RE prices, would be flexible if numbers make sense. 

Please feel free to reach out and lets talk.

Hello everyone, 

I am a new investor. I bought an apartment in 2019 as a primary residence. Moved out of it since 2021, since I got posted overseas for work. Now I am trying to buy a multi-family home (2-4 units). I got several questions: 

1. Down payment. Everywhere I turn, I am told that need at least 20% and plus as down payment. i wonder whether there is any way to get a lower percentage for the down payment. I can manage to bring 150 K at best. What can I expect for the property price to look for? 

2. Home equity loan. I wanted to use the equity on my apartment to reach my 150 K as downpayment. My mortgage on that apartment is 211K. The apartment is now worth 350 K. A lender told me that I can get 40 K max out of it. I found it low. Am I wrong? 

3. Form for the borrowing. I am still wondering whether I should borrow as an individual or create a LLC (in the making). What would be your advice? My goal here is to max out the loan amount while delinking the loan amount from my income debt ratio. Does it make sense.

4. Location. Though this is a bit of a vague question, I have looking for a place where the market is growing without property price being on the high end. Any good advice there. I am thinking about Michigan or Baltimore or Florida. 

Thanks for your help. I am happy to have a quick chat by email, over the phone or zoom. 

I'm looking for a firm in Columbus Ohio area that can assist me in a cost segregation study on my newly purchased investment property in Columbus. Would love to hear if anyone has had experience with one there and roughly how much they may cost.

Hello fellow investors and real estate enthusiasts, I recently embarked on my real estate investment journey in Columbus, Ohio and I am thrilled about the opportunities that lie ahead. However, I am in need of your assistance in finding a reputable general contractor who comes highly referred.

- gearing up for 1st investment property in the Columbus area using sub 2, need recs for real estate attorney or any sub to service for guiding through paperwork/agreement etc.

will appreciate your help

Thanks

- gearing up for 1st investment property in the Columbus area using sub 2, need recs for real estate attorney or any sub to service for guiding through paperwork/agreement etc.

will appreciate your help

Thanks

Hi Columbus investors. Anyone in the group running their properties as fully furnished mid-term rentals (outside of traveling nurse programs)? I recently received an inquiry about one of my properties from summer interns working for JPMorgan Chase and it got me thinking about what other traveling professionals outside of the healthcare industry are out there that we could market our property to. I’d love to connect with somone whose done this strategy for awhile and see how they run and advertise their mid-term rentals.

Hi folks. 

I have been procrastinating. But I would finally like to start investing in long-term rentals. 

Does anyone have any excellent realtors they might recommend? We live in San Francisco, California. 

Separately, are there any Long-term rental markets that one might suggest for a mix of rental income and appreciation? 

Kusum. 

My wife and I own a couple of STRs and would like to get into the fix & flip game, but we need to start small. We're looking for a house ≤ $100k with an ARV of ≥$160k, off-market, mostly cosmetic rehab, B or better neighborhood. Can be older, # of BRs & BAs doesn't matter to us. We've been looking in the Midwest but are open to anywhere. Do you have suggestions for markets for this kind of deal?

I'm almost 50 and just woke up to the power of REI. Kicking myself for not learning about this 30 years ago. But here I am, and I have a decent pile of cash ($120K) and a pretty good 401K. So I'm in a great position to jump in on a few deals and get my money working for me. I just read Rich Dad Poor Dad, and it has me pumped up.

The deals are hard to come by in Southern California, at least from what my scant knowledge of the topic has shown me so far. So, I'm just looking for some good advice on the best approach for my first deal. I'm open to a flip, BRRR, or straight buy and hold. Single fam, duplex, triplex? Local, out of state? One big deal, or multiple small deals? I'm open to whatever.

Any advice is appreciated.  Thank you.