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All Forum Posts by: Luke Liesch

Luke Liesch has started 1 posts and replied 11 times.

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Steven Foster Wilson:

 Hi Luke, 

Thank you for sharing your journey. It is so exciting to just get started. I still cannot get enough of real estate. Another option to look into is having travel nurses stay with you. Here is one website you can use to find people that are looking https://www.furnishedfinder.co..., I think it is like $90 for a year membership through this?


 Thanks Steven! This seems like a great resource. I just talked to a friend who used this when finding a place for his travel nursing rotation. 

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Jordan Fiore:

You are in the right place! I think short term rentals is a great opportunity here in Cincinnati that most people are not looking into. Best of luck with everything and do not hesitate to reach out!


 Thanks Jordan!

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Benjamin Aaker:

Hi Luke, welcome to BP! It's nice to see you have some background underwriting. A lot of new investors ask about how to get started in multifamily and working with someone with more experience is often recommended. Sounds like you are one step ahead at this point. 

Thanks Benjamin! I have definitely made some good connections and learned so much already. 

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Joseph Cornwell:
Quote from @Luke Liesch:

Hi everyone, 

I wanted to introduce myself and give a brief background on my real estate investment journey so far. A couple of years ago I graduated from college and entered the financial planning industry, and during this time I discovered real estate was a great vehicle for building income and wealth. After doing some reading and lots of podcast listening, I knew I wanted to acquire rentals and scale by acquiring larger and larger properties and eventually find financial freedom. I was struggling to stay focused on this strategy, so last year I decided I needed to make a career change and find a job that would allow me to learn and focus on multifamily investing. I was able to land a job this past spring as an analyst for a multifamily brokerage that specializes in affordable housing (i.e. Section 8, Section 42, etc), and I have slowly been learning how to underwrite and value multifamily properties. I just bought my first property this past month, a SFH in Cincinnati that I would like to house hack as an AirBnB rental on the weekends (most likely will not cover my entire P&I and expenses, but could still cover a nice chunk of it). After about a year (bought this property with a conventional loan, 3% down), my current plan is to turn it into a full time AirBnB (if the market changes, I could turn it into a standard rental. There is potential for it to cash flow - the house is in an appreciating neighborhood, very good school district, and I will constantly be making improvements to the property for the next year). After this first year, I'd like to repeat the process, acquire another property and house hack it. Hopefully this next time it'll be a 2-4 unit. In the meantime, I would like to use the knowledge I'm acquiring underwriting larger multifamily deals to find multifamily deals on my own, and acquire through partnerships or syndication. I would really like to learn more about this segment, so most of my time on BiggerPockets is spent trying to learn more about acquiring multifamily through partnerships/syndication. I would love to connect with other like-minded people! Feel free to DM me at any time.

Thanks!

Luke

513-235-8434

 Hi @Luke Liesch I am scaling my portfolio through partnerships in Cincinnati right now as well! I am happy to chat, feel free to connect. Best of luck on your journey! 


 Thanks Joseph! Let's chat sometime.

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Dave Skow:

@Luke Liesch- congrats ... sounds like you able to geta loan for the present home easily .....make sure you keep your financials strong so that your next loan will be easy to obtain as well 2) if buying a 2-4 unit - FHA loan can be used with min down if buying it as a primary home ...if buying the next 2-4 as a rental - down payment need will be 25% of the purchase price 3) If rates and values cooperate - try to either refinance the present home before you move in order to eliminate the mtg ins or simply ask the present lender to drop the mtg ins ( if you think that there is > 22% equity developed ) ...good luck


 Thanks for the advice, Dave!

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Wale Lawal:

@Luke Liesch

Welcome to BiggerPockets!

You are definitely in the right place. Just make sure to consume contents here as much as possible and feel free to ask any questions you may have. We are here to help each other grow.

Goodluck!


 Thanks Wale!

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Todd Wheatley:

Hey Luke, congrats on the success. Make sure you connect with Adam Curry and Robby Allen at Key Property Partners. They were my GO TO guys when I was investing in Cinci.

Happy Investing!

I’ll have to reach out. Thanks Todd!

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @James Dainard:

Welcome and congrats on getting your first deal!


 Thanks James!

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Tom Spackman:

Welcome, Luke!

I'm sure you've already found this, but the podcasts and forums here are full of great support and information. I do have a word of advice, for what it's worth. It's pretty basic, but I have found that the extra cash flow from an extra apartment more than makes up for the extra cost of a 4 family as opposed to a 3 family. At least that's true in my market (northern RI). But you need to understand local rules for fire safety systems and financing in larger buildings. The rules for a 4 unit here are not much different than a 3 unit, but the return is much better. When you get to a 5 unit building, the requirements for fire systems and financing get more difficult.

For me, single family homes will be down the line - once I can afford to finance several. Then I will be looking at my portfolio in terms of net per door as opposed to building by building.

I hope that makes sense, and good luck!

Tom


 Thanks Tom, I appreciate the advice!

Post: Introduction - New to REI

Luke LieschPosted
  • Posts 11
  • Votes 20
Quote from @Chris Tarpey:

Welcome man! We are looking into syndication and multifamily investing as well. This is a great forum to network with those who have aligned goals!

Thanks Chris!