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All Forum Posts by: Zeke Liston

Zeke Liston has started 2 posts and replied 1544 times.

Post: Investing in Cincinnati

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Ruth S.:

Hey everyone! We’re looking to start investing in the Cincinnati market. If anyone could provide some insight into where the best zip codes to invest would be and also any referrals to boots on the ground would be amazing! Thank you.


 Hey Ruth, I've got a map of Cincinnati I'd be happy to share.

Post: New Member Here in CA

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Bonnie Cerruti:

Hello,  I'm new to Bigger Pockets as of yesterday.  Basically I have no clue what I'm doing yet but I'm excited to see and learn.  I have been managing family property with my husband the last 3 years.  This has included taking a property that was getting very run down and remodeling.  We have done about 18 units out of 36 along with the outside and are currently working on the pool area and landscaping. (can't remodel until tenants move and they typically stay for several years)  Also have new signage coming. This has been a challenging road but also a blast!! I love this stuff.  Now I want to get my own property and not have to deal with family. Well, I do want my girls who are in their 20's to also have real estate.  We have a cabin I'd like to try the airbnb with.  I am wanting to purchase a duplex or triplex and I'd like to do that out of California due to all the ridiculous rules the governor has made law.  Wish me luck. 


 That's great, Bonnie. Have you thought about what markets you would be interested in? 

Post: New to BP!

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Jace Moe:

Hello BP! My name is Jace, and I am finally taking a leap into this Real estate world. Just in the research stage and processing all this information has been overwhelming ( In a GOOD way) I already know, San Diego is not the place I want to purchase, so I'm looking into Midwest areas, close to other family members. Any help or advice is greatly appreciated. Have a great week! 


 Welcome to BP, Jace! There are a lot of great markets in the midwest to choose from. I would personally narrow it down to 2-3 cities and see which city you can build the best team in and then go from there. Good luck! 

Post: AMHA approved tenant signed "as is" lease but refused to move in - how to proceed?

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Jeffrey Richard:

I had an AMHA approved tenant sign an "as is" lease for my rental property. The tenant had already inspected the unit before signing the lease. However, on move-in day, the tenant claimed the unit wasn't clean enough and refused to move in, despite my offer to clean whatever was needed the next morning. The tenant then stopped payment on the security deposit.

  1. Should I contact AMHA first to inform them about the situation?
  2. Can I pursue legal action to recover rent for the full lease term (12 months) since the tenant signed the lease?

 Hey Jeffrey, that's too bad. Unfortunately, similar things have happened to me. In my opinion, it's not worth your time and effort to pursue legal action. I would just put the rental back on the market and find another tenant. Good luck! 

Post: New to Real Estate

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Albert Massop:

Hello everyone, I'm excited to be joining the BiggerPockets universe! I am brand new to Real Estate investing and looking forward to acquiring my first property. I'm here to learn, hopefully find a mentor and in the near future help others. I'm located in Rockaway Park NY interested in out of state properties. Any advice would be appreciated, thank you all in advance.


 Welcome to BP, Albert! Do you plan on investing locally? 

Post: How does the financial side work when house hacking out of state with an FHA loan?

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Joseph Fenner:

I am looking to house hack a property out of state with an FHA loan within 4-5 months. What should I know about using FHA loans for out of state investing?


What complexities should I expect and what else should I know regarding the financial side?


That's great, Joseph. As everyone has said, you'll need to live in the property, but as long as you do that, there aren't really any other big stipulations. FHA loans can be a bit strict about the condition of a property. For example, they are weird about chipping and peeling paint, missing handrails, etc. You might want to consider a conventional owner-occupant loan. These are now being offered at 5% down, and once you get 20% equity in the deal, your PMI will go away. Meanwhile, there will be PMI for the life of the loan on an FHA loan. Good luck!

Post: Quadplex in Cleveland - I need some real advice. Thanks!

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Samme Chan:

Hello. I'm looking into a real estate investing in the Cleveland and Akron area. There's been some quadplex homes that I'm interested in. What are the pros and cons of owning a quadplex vs. duplex? Would you recommend buying it with cash? They are fully tenant occupied. The buildings are not renovated, but they seem like they're in okay condition from the pictures. Are there any building regulations for quadplex that are more complicated compared to duplexes? Any advice are welcome, even if they have nothing to do with what I'm asking! Thank you all!


I'm a fan of quads because, typically, the cash flow is a bit higher. I also think there is less risk because if one unit is vacant on a quad, you're still 75% occupied, while with a duplex, you'd only be 50% occupied. As far as buying cash, I personally like to leverage my cash to buy as many deals as possible, but you'll find multiple views on this. 

Post: House hacking with a high interest rate

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Codey Wendel:

Hello everyone. I just started the mortgage application process and have been pre-approved for a loan with a 6.75% interest rate. I was planning on purchasing a duplex this summer and going the FHA route, but now am not sure if it's the right decision with how high interest rates are. My price range is 200-250k and my total interest paid when it's all said and done will exceed the purchase price. I don't want to sit around waiting for interest rates to drop and pass on some good opportunities, but I'm also not sure if I want to pay that much in interest.

Does anyone have any opinions on this? Would refinancing a few years after purchasing make my numbers look better? 

Thank you in advance.


 Hey, Codey, if you decide to wait until the rates drop, the prices will likely be higer. I'm personally buying pretty aggressively with the plan to refinance down the road. With that said, I'm still making sure the deal makes sense with the current rates. Good luck! 

Post: Advice on renting primary residence

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Yates Harris:

I am thinking of taking a job out of state and during that time I would like to rent out my primary residence which is a one bedroom townhouse in Buckhead/Atlanta. It does have an HOA but they do allow rentals for at least 6 months. My main concern is I want to make sure I offset any liability in perhaps the slim instance a tenant tries to sue me for potentially slipping and falling themselves or for whatever possible reason really. Putting real estate assets into an LLC or trust are all terms I hear about but am wondering if that would be appropriate and/or necessary in this situation to off set any potential liability? Am I perhaps over thinking this and should I perhaps not consider putting a primary residence into a trust or LLC? I just want to do everything possible to make sure I'm protected in every way, including making sure no one could ever go after non real estate assets like my stocks as well. The townhome is completely paid off and own it outright in case that matters at all. Any insight is much appreciated! Thanks so much for your help!

Yates


Hey Yates, I personally put all of my investment properties under LLCs. You can have an attorney do a quit claim deed to transfer your property into an LLC.

Post: New member in southwest ohio

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Blake Spiller:

Hi my name is Blake Spiller and I just became a member of BP. I’ve been listening to the podcasts from BP and it’s even sparked my interest that much more into real estate investing. I live about 1.5 hrs east of Cincinnati. My area is more rural and compromised more of farmland than towns. We do have a couple of areas that are growing in our area though. I’d like to invest in farm land but it’s extremely expensive and hard to come by as of right now. I think that my interests right now would be investing in farm land or buying a home to rent out for cash flow. Someday I would like to possibly have 4-5 homes that I would be renting out that could possibly help me retire a little early as well as provided continued cashflow in retirement. I just wanted to say hello and I’m excited to learn as much as possible from BP and all of the people. Thanks!


 That's great, Blake. My father-in-law owns a farm in Southeast Ohio. If you want to stay local, you might need to start with house hacking a home. If you can move, there are some other spots in Ohio where you can get a better deal on land. Good luck!