All Forum Posts by: Rickey Brunson

 I wish I would have found another person who was studying for the real estate exam and study with them and run practice questions through them!

Congratulations on your recent home purchase, and it's fantastic that you're considering exploring a career in real estate! It's a dynamic field, and I'm happy to share some insights to help you get started.

Licensing Courses: For licensing courses, consider reputable institutions such as Hondros College or Columbus State Community College. They offer comprehensive real estate licensing courses to equip you with the necessary knowledge.

Finding a Sponsoring Broker: When it comes to finding a sponsoring broker, it's crucial to look for a firm that aligns with your values and provides a supportive environment for new agents. Some well-known brokerages in Columbus include Keller Williams, RE/MAX, and Coldwell Banker. Reach out to a few brokers, attend their informational sessions, and discuss your goals to find the right fit.

Getting Started as a Real Estate Agent: Starting as a real estate agent involves networking, building your client base, and staying informed about the local market. Attend industry events, join local real estate associations, and leverage online platforms like Zillow and Realtor.com to enhance your visibility.

Feel free to ask any specific questions you may have, and I'm more than happy to provide guidance on your real estate journey!

Hey BiggerPockets community!

I'm in the early stages of planning to invest in a duplex later this year or early next year. My primary focus is on cash flow, and I'm aiming for a turnkey property with FHA financing. My budget is less than $200k, and I'm looking to live in one unit while renting out the other.

I'm not particularly concerned about property appreciation; my main goal is to generate a steady income. I'm interested in areas with a strong rental demand. Could anyone provide recommendations on specific locations or strategies to maximize my chances of success in this venture? Any insights on markets with affordable duplexes, good rental demand, and FHA-friendly opportunities would be highly appreciated.

Additionally, if you have tips on finding turnkey properties or navigating the FHA financing process for duplexes, I'd love to hear your experiences and advice.

Thanks in advance for your valuable insights!

I have an investor friendly realtor whos also an investor I could introduce you to if you're interested!

Hello Ken,

It's fantastic that you're exploring opportunities in Columbus for your real estate investments. It sounds like you've already taken some proactive steps by connecting with local professionals, which is a great start. Here are a few considerations to help you evaluate whether Columbus is the right fit for your investment goals:

Positive Aspects:

1. Diverse Market: Columbus has a diverse real estate market with opportunities in both small multifamily and single-family properties. The range allows for flexibility in your investment strategy.
2. Economic Growth: The city has experienced significant economic growth in recent years, which can positively impact the real estate market. Job growth often correlates with increased demand for housing.
3. Educational Institutions: The presence of Ohio State University can contribute to a stable rental market. Student housing and faculty rentals can be lucrative in university towns.
4. Affordability: Compared to some other markets, Columbus offers more affordable investment opportunities. This could lead to better cash flow and potentially higher returns.

Considerations:

1. Market Research: Continue your due diligence by delving deeper into the local market trends. Understand the specific neighborhoods, vacancy rates, and potential for appreciation.
2. Risk Management: Every market has its risks. Consider factors like job stability, economic diversification, and potential impacts of external factors on the local economy.
3. Local Regulations: Be aware of local regulations, taxes, and any specific rules that might impact your real estate investment. These can vary significantly from one location to another.
4. Visit in Person: If possible, visit Columbus in person to get a feel for the neighborhoods you're interested in. Local insights gained on the ground can be invaluable.

Reassessing:

While Columbus appears promising, it's always a good idea to compare it with other potential markets. Consider diversifying your options and exploring a couple of different areas to ensure you're making an informed decision based on your specific investment criteria.

Ultimately, the "right" area depends on your investment goals, risk tolerance, and personal preferences. If Columbus aligns with these factors and you feel confident in the opportunities it presents, it could indeed be an excellent choice.

Wishing you success in your real estate ventures!

Rickey H Brunson

Here are a few tips to help you in your search:

1. Local Recommendations:
   • Check with local real estate investor groups or forums in Columbus for recommendations. Experienced investors often share insights into property management companies they've had positive experiences with.
2. Online Reviews:
   • Look for online reviews of property management companies in the OSU area. Websites like Yelp, Google Reviews, or specific property management review sites can provide valuable feedback from landlords and investors.
3. Interview Multiple Companies:
   • Don't hesitate to reach out to multiple property management companies and conduct interviews. Ask about their experience with similar properties, their fee structure, and the services they offer.

I also offer these services such as project management and have experience working with out-of-state clients. If you're interested, I'd be happy to discuss how I can assist you in managing your investment remotely. Feel free to reach out for more information or to discuss your specific needs.

Best of luck with your real estate endeavors!

Rickey H Brunson

When researching growth equity and potential real estate investments in Columbus, Ohio, there are several resources you can explore to gather valuable information. Here are some recommendations:

1. Local Government and Economic Development Agencies:

Check the official websites of local government and economic development agencies in Columbus. They often provide information on planned infrastructure projects, economic trends, and development initiatives.

2. Chamber of Commerce:

The Columbus Chamber of Commerce can be a valuable resource. They may offer insights into the local business environment, job market, and economic development plans.

3. Real Estate Market Reports:

Explore real estate market reports specific to Columbus. Organizations such as Zillow, Redfin, and Realtor.com often provide market trend analyses, property value estimates, and demographic information.

4. Local News Outlets:

Stay updated with news articles and reports from local news outlets. They can provide information on recent developments, economic trends, and upcoming projects that may impact the real estate market.

5. Local Real Estate Associations:

Connect with local real estate associations or boards in Columbus. Professionals in these organizations can offer insights into market trends, investment opportunities, and potential areas of growth.

6. Networking Events:

Attend real estate networking events in the Columbus area. Networking with local professionals, investors, and real estate agents can provide on-the-ground insights and recommendations.

7. Property Management Companies:

Contact local property management companies. They often have a deep understanding of the rental market, vacancy rates, and demand for various types of properties.

8. Online Forums and Communities:

Explore online more forums and communities where real estate investors discuss local markets. Websites like reddit may have threads dedicated to Columbus, allowing you to learn from others' experiences.

9. City Planning Documents:

Review city planning documents, zoning regulations, and master plans. These documents can provide information on future development projects, rezoning initiatives, and infrastructure improvements.

10. Real Estate Investment Groups:

Join real estate investment groups specific to Columbus. These groups often share knowledge, investment strategies, and market insights among members.

Remember to cross-reference information from multiple sources to get a comprehensive view of the local real estate landscape in Columbus. Additionally, consulting with local real estate professionals, such as realtors and property managers, can provide personalized guidance based on your investment goals. Good luck with your real estate endeavors in Columbus!

Introduction:

Firstly, I want to express my condolences for the loss of your family member. It's understandable that you're seeking to invest in real estate to secure your financial future.

Background and Financial Situation:

Given your circumstances of having $150k in cash from an inheritance, a credit score of 756, and a year of work history, you're in a relatively strong position to begin your real estate investment journey.

Strategies Considerations:

Investing in areas with lower property values and employing the BRRRR strategy can be a viable approach. However, thorough research on local markets is crucial to understand property values, rental demand, and economic trends.

Strategically using debt, especially DSCR loans, to acquire more properties is a common approach. However, it's essential to fully comprehend the terms and conditions and carefully estimate cash flow, factoring in potential market fluctuations.

Waiting for another year to establish a two-year work history for better FHA loan approval terms is a patient strategy. This may provide you with lower down payment options and more favorable terms.

While traditional no documentation loans are rare, exploring private lenders or hard money lenders might offer alternative financing options. However, proceed with caution, as these may come with higher interest rates.

Relationship Building and Education:

Building relationships with local lenders and mortgage brokers is crucial. They can provide personalized advice and may have access to loan programs that suit your needs. Additionally, investing in real estate education and seeking mentorship can enhance your understanding of various strategies and market dynamics.

Creative Financing:

Exploring creative financing options, such as seller financing, lease options, or partnerships, is another avenue to consider. These methods can sometimes provide alternatives to traditional mortgages.

Conclusion:

Before making any decisions, consult with financial advisors, real estate professionals, and lenders. Align your chosen strategy with your financial goals and risk tolerance. Additionally, ensure that any potential investment aligns with your long-term plans and aspirations. Remember, real estate investment is a long-term game, and a well-thought-out approach is key to success.

Are you in search of a dedicated and experienced residential real estate project manager in the vibrant city of Columbus, Ohio? Look no further!

I am currently spearheading a fix-and-flip project near Nationwide Children's Hospital, and I am eager to expand my horizons by taking on additional opportunities in project management. With a robust network of contractors and real estate specialists, I bring a wealth of contacts to the table, ensuring a seamless and efficient project execution.

Here's a glimpse of what I bring to the table:

• Location Expertise: Managing a project near Nationwide Children's Hospital has provided me with valuable insights into the local real estate landscape.
• Network of Contacts: I have established relationships with a diverse range of contractors and real estate specialists, streamlining the collaboration process.
• Tech-Savvy Approach: Leveraging technology is at the core of my project management strategy, ensuring efficiency and transparency throughout the process.
• People-Oriented Mindset: I thrive on effective communication and collaboration, fostering positive relationships with team members, stakeholders, and clients.
• Task-Based Efficiency: No project is too big or too small. I am committed to delivering results, focusing on tasks that drive success.

As a continuous learner, I am currently pursuing my Certified Associate in Project Management (CAPM) to further enhance my project management skills.

If you have any questions or are interested in leveraging my services for your next project, feel free to inbox me or connect with me here in the forums. I am available 24/7, 365 days a year, ready to bring my passion and expertise to your residential real estate endeavors.

Let's build something great together!

Best regards,

Rickey H Brunson