All Forum Posts by: Jimmy Lieu

Hey everyone!

My husband and I recently moved to Hudson, just south of Cleveland. We are looking to invest in A/B neighborhoods in the Cleveland area and would love some recommendations on which areas to focus on.

Additionally, we're on the lookout for realtors who are highly knowledgeable about the local market, preferably those who have lived in the area and also invest themselves. Any suggestions would be greatly appreciated!

Hello BiggerPockets community! I'm Brad Radlosky from Las Vegas, NV passionate about real estate investing. I'm particularly passionate about BRRRR in Columbus, OH. I'm looking to put together a team of agent, GC, and property manager. If anyone is interested, please feel free to reach out so that we can connect.

Outside of real estate, I enjoy golf, cars, working out

Excited to learn and connect with you all!

I am looking to do some rehab work and of course flip in the lower Ohio Cincinnati area. I have heard from various sources that are a few in the are and I would like to make contact. Thank you. 

Michael,  

Good afternoon! We are looking to close on a property towards the end of this year or at the start of 2025. Can you please send me over any recommendations for insurance agents in Ohio. Thank you.

I have a duplex in Columbus , OH. One side is traditional rental and the other side I have furnished and have been renting as STR. I advertise on Furnished Finder, Zillow etc. Recently I have had 2 different people kinda proposing the same thing: they want to sign a year lease with me not to live there but to then in turn rent it out short term to others. Since I have been semi successful with this approach I can see it working. However neither person is local , they both have filled out applications and seem to check out , but both have "Not for Real ID" IDs which seems like a red flag to me. My friend recently told me of this scenario where the person I lease to would perhaps then double book individuals and keep deposits.

Was just curious if anyone else has been approached in this manor, and if I am just overthinking this.

thank you!

Currently stuck in analysis paralysis on trying to find the right location for a first property, with a willingness to move anywhere in the US. 

Goal

My objective would be to go with a MFH, 2-4 units, higher would be better. I'd house hack and live in one of the units the first year, and use an FHA 3.5% loan. For amount, it would likely be in the $500-700k range.

My expectations are to have a negative cash flow while living there, and possibly a slight negative cash flow after moving out (until interest rates lower or rents increase). For example, a $650k 3-4 unit where each can rent out at $1,500, allowing for a negative cash flow of $2-2.5k/month the first year.

Possibilities

Given those goals, it would rule out the more expensive places (California, Seattle area, Austin). However, I have no idea how to choose from the remaining cities, it seems there are a lot of potential options:

- Midwest - Michigan (ie: Grand Rapids) seems to have options, also seeing Columbus Ohio and Indianapolis coming up

- Reno - I've seen mentioned several times on here

- Pittsburgh / Philadelphia / Twin Cities - All mentioned as lower cost to get started, and seem to be experiencing growth

I'd ideally like to find a place that has strong potential for future growth, a diversified economy, and I don't mind living in (being close to nature would be a plus). 

Any thoughts on how to choose - what metrics to evaluate, resources to read to help?

Hello everyone!

We’re currently flipping a home in Maple Heights, OH, where most homes are 3-bedroom, 1-bathroom layouts with unfinished basements. To maximize the living space, we worked closely with the city to create egress window codes, allowing us to add an additional bedroom, a beautifully finished bathroom, and a family room in the basement. Our remodeled home has received multiple offers at or near the asking price.

Unfortunately, we've hit an issue with the appraisal. Despite the Ohio Building Code recognizing the basement bedroom as a legitimate bedroom, the appraiser did not include the basement in the general living area (GLA) and didn’t assign much value, if any, to the additional finished space.

Has anyone dealt with this challenge before? Any advice on how to address this appraisal issue would be greatly appreciated!

Hello all!  We are flipping a home in Maple Heights, OH.  The homes in this area are 3 bedroom and 1 bathroom with full unfinished basements.  In order to add living space to the home, we worked with the city to develop egress window codes to add an additional bedroom as well as beautifully finished bathroom and family room.  We are received multiple offers at the asking price or slightly under for the remodeled home.

Unfortunately, we have run into a problem with the appraisal.  Although the Ohio Building Code states the basement bedroom is a bedroom, the appraiser did not count the basement as general living area (GLA) and did not provide much value, if any, for the additional nicely refinished space.

Does anyone have a recommendation how to overcome this barrier?

Thanks!

Michelle