All Forum Posts by: Joe Walker

Great topic. Following. I really don't have enough equity in anything other than my personal residence to do this yet but I am getting close. Yes, will probably make a difference if held personally vs. LLC.

Following this post, I'm in the same boat with a single fam in Forest Park but not doing this in an LLC (yet). I would like to be able to refi based on appraised value as soon as my rehab is finished, 2 months after purchase.

I've called a lot of the local banks and they're all going to be in the same boat at 6 months to a year of seasoning.  I found a mortgage broker that would do it in 4 months.   PM me if your interested in that contact info.

Also, I know a hard money lender with a 30 year fixed product.  He's 2.5 points and $1000 loan fee.  Pm me for that as well.

Call your credit union and ask.  Just say you're looking at buying land in Cincinnati, could you finance a purchase like that.  I'd bet the answer is "no", but you never know.  There are plenty of small local banks in Cincinnati that could probably help you though.  You'll learn some things talking to banks on what they can and can't do, rates & terms ect...  It's a good learning exercise, even if you don't get the deal.

PM me if you'd like the name of some local banks I'd start with.

Good luck!

I have a duplex in Fairfield.  Butler county is among the top 3 counties in Ohio for job growth, so plenty of demand.  I self manage & appreciate the large tenant base that I can choose from.  I would consider Fairfield A to B.  @ 100k you're most likely going to have to find something off market, that needs rehab.  

I would self manage.  I'd want to be in complete control of who my neighbor is and how they're treated.  If you hire out management and they know you live next door, I bet they'll come to you first with problems anyways, so you might as well get paid for it.  Just be sure to set some ground rules on how to contact you so they don't knock on your door at midnight because a light bulb burnt out.

Hi Derrick, welcome to Biggerpockets.

I too live in Loveland and am just starting out.  I have a Duplex I bought in 2018 as my 1st property in Fairfield.  Rehabbing was a learning experience but now that I have Tenants and good cash flow, it was worth all the effort.  I'm looking for my next buy and hold deal, hopefully, closer to home with less money out of pocket.

I would highly recommend REIAGC. In addition to what you learn in the meetings, the network of people is well worth the time and money. My CPA, Attorney, Realtor, Contractors, Mortgage Broker, were all people I met or recommended by someone at REIA. There is another group called the Best Ever Meetup I think. I've never been there so I can't give them a review. Someday I should try them out.

Let me know if you are going to go to one of the Thursday meetings, we can discuss the Loveland market and how hard it is to find a rental for a decent price there. 

I made a rookie mistake and gave a contractor 2k up front, and of course, he went MIA with my money.  I got a judgement in small claims court for the money + interest.  This guy has been sued a few times so I'm sure there are other judgement's against him.  He does own a house in the hood that's probably worth about 10k

I've learned my lesson, I'm kind of done with this, and would like to move on.  Does anyone know of a website or place I can sell my judgement and let someone else deal with it?  I found Judgementmarketplace.com but they wanted bank account info and social security number right away.  Has anyone had experience with them?

Deer Park is solid.  Looks like a lot of work but if all goes as planned, that's a win for everybody.  Congratulations and good luck!

Hello,  I have couple of bathrooms in rental property that I'd like to demo and replace with new.  Also, there some plumbing & light electrical work throughout the house.   Property is in Fairfield (North of Cincinnati).  I have a scope of work ready to interested contractors.  Any Recommendations for solid contractors would be helpful.

This is the part of my young real estate career I've been struggling with most thus far.  The contractors I've used in the past have been a mixed bag (I have a great hardwood floor guy & painter, others not so much).  Does anyone have any strategies on how to find reputable people that are going to do what they say they are going to do when they say they're going to do it?  Thanks!

Joists are going the wrong way, also we didn't totally gut the bathroom.  Just the tiled parts which were only halfway up the wall except for the tub surround. We ran the vent to the basement and the back of the house.