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All Forum Posts by: Zeke Liston

Zeke Liston has started 2 posts and replied 1544 times.

Post: Is this normal from a property manager?

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

I have a property that needs some roof work completed. My PM contacted me about it, and said that, with their "25% management fee", the repair cost would be $X,XXX. Is that normal to charge an additional fee on top of my normal, monthly 10% of rent collected? It's not disclosed in the management agreement (nor are the other fees they tack on just for responding to a resident's request...), and I tried fighting them on it but they wont budge. I have another PM in a different stated that has helped me immensely with another property and hasn't charged anything above the monthly amount, so I'm just not sure if I'm extremely lucky in one case and normal in the other, or vice versa.   

 Hi Jacob, a property management upcharge is pretty standard, but 25% seems excessive. If this wasn't disclosed, I would second

@Nathan Gesner and contact the board if the property manager is unwilling to explain or work with you through it. 

Post: WHAT IS THE WHOLESALING MARKET IN OHIO

Zeke Liston
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 1,622
  • Votes 1,498
Quote from @Eugene Carter:
Quote from @Walter Jones:

You'll never have a problem finding buyers if there's "meat on the bone." Put me on your Memphis list lol. Find a hungry agent or investor who's looking for deals - they can help you evaluate properties, and give them 1st dibs on what you find

Thanks a million for this information. I’m currently residing in TN. The market here is booming.. but, it’s a sellers market that comes with high prices and competition. I was looking for areas of the country that are on the way up and OH is on my radar. My question here is. If I’m living in another state would this license be valid in Ohio? Would I have to be a resident there in order to do wholesaling deals there? 


 Hi Eugene, you could wholesale OOS, but I'm not sure I'd recommend doing so. If you decided to wholesale in Ohio, I'd try to really dig into the area and property values in different neighborhoods. I might suggest starting in TN, getting a good system down, and then trying it OOS. 

Post: Looking for tax pro in Columbus, Ohio

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

Hello, I'm looking for recommendations for a CPA or other tax professional to prepare my 2022 taxes. Someone familiar with REI, ideally in the Columbus, Ohio area but not required.

Thanks in advance for any advice.

Hi Keith, I'd be happy to share my go-to. He's an investor himself and is knowledgeable on cost segregation studies, rental properties, etc. 

Post: Looking for electrician in Columbus, OH

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

I am looking for a licensed electrician, preferably independent but qualified, for work on a small mfh with knob and tube wiring. Location: Columbus, OH

Appreciate recommendations. Thanks in advance!


 Hi Phong, I'd be happy to share a contact with you. 

Post: Out of State Investor- Analyzing 3 Ohio Markets for Mid Term Rentals

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

Hi BP Community,

I've been analyzing Cleveland, Cincinnati and Columbus for medium term rentals for traveling medical professionals. I am an out of state investor in Charlotte, NC which I've acquired 3 properties which I've been focused on appreciation here. I'm looking for a lower entry price point which is why I'm looking towards Ohio + have friends who live in all three markets. I am leaning towards Cleveland due to the lower entry price point and cash flow potential (on paper). I like Cleveland with the largest healthcare opportunity here, three large sports teams, and busiest airport in Ohio, and could pivot to a short term rental strategy down the road if MTR didn't work out as much as expected. I've looked at Columbus but the price appreciation here is similar to Charlotte and Cincinnati, doesn't look to have as many healthcare jobs/opportunities as Cleveland. 

Some of my hesitations of Cleveland are the crime rate, age of the homes, and population growth declining. Here are my questions below:

1. Have people had success here in MTR strategy? My concern is nurses wanting to be somewhere safe while also not too far from Cleveland Clinic/University. I've been told a few B/C+ but not sure if a street over could turn these nurses away from these homes.

2. A lot of the homes are 50-100+ years old for the lower price point to entry. My concern here is deferred maintenance with a smaller up front cost. Does anyone have any best practices or things they look out for, for these older homes?

I am open to feedback on Columbus and Cincinnati if people have thoughts in those markets that you think would fit better for my strategy.
Thank you!


Hi Ross, I can't speak much about the Cleveland market, but I can offer some insight into Columbus. I own a mid-term rental and get quite a few inquiries. Columbus has several big hospitals, which makes the city a great candidate for mid-term rentals. I personally own mine near Nationwide Children's Hospital, which has been growing for years and continues to do so. They are currently completing a $3.3B expansion along Livingston Ave. Columbus will have a higher entry point, but I believe the potential is quite high for both cash flow and appreciation. Good luck, please feel free to reach out with any questions! 

Post: New Investor: My plans for 2023

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

Hello BiggerPockets community my name in Cody, I’m 23 and am just getting into Real Estate Investing. I was introduced to BiggerPockets by a former landlord and have been totally immersed in the Real Estate Rookie Podcast.

I am currently living in Ogden, UT but my girlfriend and I will be moving to Des Moines in June of this year. We have a savings plan in place and I have a new job with good pay and a substantial signing bonus lined up. This should put us in position to hopefully purchase our first property in the latter half of 2023. 

We are hoping to target small multi family units in Des Moines. Our plan is to live in one side and start with a long term tenant in the other side. We would like to transition to a medium term rental when we are able to furnish the unit. 

Thank you all for reading. I would love any thoughts, feedback, or advice from the more seasoned members of the community as I try to build my network. 


 Hi Cody, that's great! The two of you are off to a great start. I started off house-hacking, and it's a great way to get started in real estate.  

Post: Looking for leads on lesser known markets or sub markets for decent CF/appreciation

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

Hi All, this is my first post here, hoping it’s in line with the rules. 

Like a lot of people, I’m looking to buy my first property in the next 3 months or so. I want to focus on growth right now, so I am hoping to find properties that are in areas with good demographic trends. My goal is to have them cash flow positively, but am not hyper-focused on cash flow beyond that (I.e. I don’t need MASSIVE cash flow). The goal would be something that is a mix between cash flow and appreciation. 

I live in MA and don’t want to invest in Fall River/New Bedford so I’m looking out of state. I’ve looked at markets like Indy and Columbus (which seem very good) and then also at Kansas City, Cincinnati, and Jacksonville (though downscale FL particularly makes me nervous). The reason I am posting is to ask whether there are any particular smaller markets or sub markets I should be looking at as well? I’m particularly looking at the Midwest if anyone has any tips, but I’ve also heard there’s great stuff in the sunbelt around AZ in the Phoenix suburbs. Does anyone have any tips on where I should check out? 

Budget is about $200-250k after leverage (so about $50K down + transaction costs). Hoping not to do more than $20k of rehab. 

Thanks!


Hi Anton, welcome to BP! I've had a lot of luck here in the Columbus market. Your budget also aligns with the market, you could likely find a duplex in a C+/B- neighborhood within that price. 

Post: How to find Cash flowing properties - What am I missing?

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

I'm new to investment but spending a lot of time on market and deal analysis. I am ready to buy but so far - even in markets where you can still pick a home up in an appreciating market for $250K - I am struggling to see how they cashflow with 25% investor down payment and interest rates up there near 7%. It frustrating - Im ready to go but certain I am missing something. I use a 0.86% (rather than 1) for quick deal analysis but do detailed analysis as well. On a $250k house you are looking at $62,500K down (which isn't cheap) - then somewhere around $1500 a month for repayment and taxes (doesn't take in to account mgmt, vacancy, capital) - and these markets I am looking at only getting $14-1600 a month in rent..

What am I missing? Help from this network welcomed!!

Note - I wanted to invest locally but even worse on Gulf Coast so been looking at NC, Jacksonville amongst other places 


 Hi Damian, I can see how that would be frustrating. I can tell you're anxious to get started. Have you considered the Ohio market? 

Post: Property Manager Columbus OH

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

Hello All,

Does anyone have an PM recommendation for Columbus?  I am just beginning my search (single family, small multi) now but would like a starting point to begin vetting some companies.  I'm an OOS investor so tryingto build a solid team.

Thank you,

Kristin Riker 


Hi Kristin, I have a list of property managers I'd be happy to share with you. I'm also happy to share some other contacts like general contractors, lenders, etc. Remember, your CORE 4 is crucial being an OOS investor, so make sure to vet each vendor well. Good luck! 

Post: Just need a little advice on an investment

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

Hey, everyone. 
I wanted to know if anyone knows about the growth in Dayton Ohio or Youngstown. 
I have two offers that where accepted, one for Dayton Ohio, and one for Youngstown. 

From my research it seems like Dayton has a lot to do, it’s closer to Cincinnati. Youngstown looks a little slower. The Dayton investment home looks great on the inside but the outside is not that appealing.

The Youngstown was completely remodeled. I’m just thinking about LTR and which one would be easiest to rent out.. 

This would be my first rental property. 


 Congrats Nikki! From my knowledge, Dayton has a bit more going on than Youngstown. I would highly consider the price points and rent potential of both properties.