All Forum Posts by: Jimmy Lieu

My advice is don't invest in OHIO.  The obesity rate is almost 40%.  People are poor—no way to make money.  Most of the state is a crap hole.  You could do worse and invest in Michigan.  Good college football is about all they have to offer and staying warm by the river as it burns. The only thing better is a tire fire in Springfield, where the Simpsons are from. 

People keep talking about fundamentals in OH.  It is a declining population.  Of course, you can get a deal on a property there.  No one would live there unless they had to.  

Sell your property for a loss and invest in a nice place where people who make more than $ 8 an hour working at Poppies want to live. 

Sorry, Ohio, it seems this forum is dominated by people making poor investments in OH. 

 Income hacking, I LOVE that name. We are currently investing in Memphis, TN and Detroit, MI and have had great success. I will have to look into Columbus as a potential in the future

Hi all! My name is Michael Liggett. I am an agent + investor based in Columbus, Ohio.

Real estate has been a part of my life since birth. My grandfather, along with his twin brother, were home builders who transitioned into building and managing a significant multi-family portfolio, which remains family managed to this day.

With my personal family background, as an agent I have largely engaged in the multifamily space working with legacy owners in the sale of their properties - from 6 unit, single building properties to 19+ unit, multi-building properties. Working in this space has provided me with keen insight into the special dynamics of legacy owners, including the exit paths that are most attractive to them.

If you are looking to sell or buy in the Central Ohio market, I’d love to put my skills, knowledge, and experience to work for you.

On top of being an agent, I am also an investor, as I believe in not only talking the talk but walking the walk. I am primarily focused on value-add/BRRRR properties. From my experience as an investor, I have first hand knowledge in developing scope of work, project management, contractor relations, and property management.

As an investor, I am looking to continue to scale my portfolio in both multifamily and single family. Additionally, I am seeking to break into flipping. In both investing endeavors, I am open to partnerships/joint ventures.

On top of buy & hold properties, I am also looking to step into the flipping space, as well as expand my knowledge on mid-term rentals (which is lacking in our Central Ohio market).

Hey guys! Newbie here on BP. I have a goal to buy my first real estate investment in 2025. I live in CA. My goal is for investing to grow my wealth and maybe replace my W2 in the future. For my first investment, I'm looking for a safer investment with a goal to at least break even in 12 months and possibly focus on learning long term cash flow and appreciation. I plan on purchasing the home with an LLC and want to use a DSCR loan. Currently, the areas that have interested me are Memphis/Nashville/Knoxville, TN, the Colorado Springs area in Denver, as well as North Carolina. I feel like I've missed the boat with Austin, Tx for the 1% rule. My budget for my first property would be somewhere from 50-80k as a down payment. Can some please help me with a game plan of where to start? I'd deeply appreciate it.

Hi- does anyone know of a bank/lender licensed in Ohio that would allow for a 2nd home loan (10%) on a duplex? The one I’ve spoken to says 25% down and I’m looking for lower than that.

Hi BP Community,

I am sure this a strategy that some have had success with but how difficult of a strategy is it to BRRRR on out of state rentals? Additionally, would you still look for properties that need significant rehab work or more aim for properties that just need cosmetic rehabs?

I am based in Chicago but also looking at Indiana and Ohio markets since I am starting off, don't have as much capital available and those markets tend to be a bit cheaper. I also see the value of the BRRRR method in that you are able to scale at a faster pace but the idea of doing rehabs on a property that I can't visit often doesn't sound ideal. For situations like this, are there specific notes or ideas that you that you would recommend for this type of investing?

hows rental market in columbus ohio for investors? is there any cash flow? also what part of columbus ohio is considered good, low on crime, fast developing yet still affordable to buy a house? 

Hi all, I'm new here. I was thinking about pulling 100-150k out of my house (currently owe 150k but worth 600k) to buy something to rent. I am not averse to something in the 10-35k range but would need to find the right mix of location and situation to pull the trigger on a project like that. I'm currently considering Erie, PA, Pittsburgh, PA, and Columbus, OH, although I am interested in NY state also.

Any thoughts would be helpful.

Hello, I have a duplex with an adu under contract. I have to go FHA since Conventional doesn't cover multi family with an adu. The property is older and the appraiser gave a list of repairs needed in order to be approved for FHA. The seller is willing to negotiate price, but I have to pay for all repairs upfront. Has anyone dealt with a similar situation? This seems risky, since I have to pay for repairs on a property that's not even mine yet. The deal is very good and I'm willing to go through with it, but how can I protect myself to the fullest?

Hi professionals and fellow investors!

I've just purchased my first property, and I have a question for Ohio state long term rental properties. I have just closed a 4-plex with tenants inside. All the tenants are recruited by the previous seller, so I don't know their credits and don't know their personalities. Now I want to protect myself from any potential lawsuits from them.

I'm debating between an umbrella insurance and a LLC. Here are my thoughts, and why suggestion would be greatly appreciated!!

1. Regarding annual cost, LLC is better. To get an umbrella that covers my net worth, it would cost me $600 more every year. Whereas Ohio states does not have renewal fee for an LLC, except a one-time setup fee of $99, plus a fee to get lawyer to setup and transfer deed for me for $1000 in total.

2. Regarding total potential loss, Umbrella is better. Per my understanding, if I have an Umbrella that covers my net worth, then even if I lose on a lawsuit, I will not lose any asset. However, losing a lawsuit may cost me the property, which is worth about $200K.

3. Regarding daily operating, Umbrella is better. I don't need to worry about anything with Umbrella, but for LLC, I need to follow the operation agreement and keep in mind not mixing personal and business bank account.

I'd like to know what are your thoughts, and how do you make decision in this case?

Thank you very much!!