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All Forum Posts by: Nzinga Hart

Nzinga Hart has started 9 posts and replied 39 times.

Originally posted by @Shawn Maxey:

I wish I could join. I don't even get off work until 5:30. Darn full time job.

 :D So true. Plus there's  all the 9:30 AM breakfast real estate investor meetings on Meet Up. 

Post: Newbie from the Cleveland, Ohio

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

You're so right about the feeling of crossing things off! @Josh Bakhshi. One time I found a 5-year to do list I created in high school and was super stoked to find out how much I accomplished even though I lost the list for a while. 

Also welcome to biggerpockets @Steve Curry!!! Perhaps we can connect in the future. We plan on moving our wholesale strategy to Cleveland. 

Post: Newbie from the Cleveland, Ohio

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

I would love to share this with my partner, who thinks a to-do list in their head is equally as useful as one written down. 

Post: OH Wholesale Working With An Agent

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

Thanks @Brent. So as long as my partner markets any contracts for assignment. I can pull my weight elsewhere 😊

Post: Wholesaling- the fine print

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2
Originally posted by @Richard C.:

You cannot market a property you do not own, in Ohio. And the normal "but, but, but, I put down a $100 EMD so I have a beneficial interest!!!" nonsense apparently does not fly there. For which I applaud them, and I have actually begun some quiet lobbying to get the same standard applied in my state.

Basically it appears to me that in order to wholesale in Ohio, you have to close first, then begin marketing.  Otherwise you a brokering.  This means that the common wholesaler strategy of assigning a contract will not fly, and neither will a simultaneous double-close (how would you get a buyer without marketing.)

I am sure people will tell you they have done it, and gotten away with it.  And I am sure they have.  But the state is obviously taking an interest, and somebody is going to be made an example of.

P.S., getting an REA license costs about $500, and an LLC usually between $100-$200. Not a huge outlay.

 I know this thread is a bit older but it costs much more than that to get a REA license upwards of 1500 for the classes, one-time fees, and annual fees. 

Post: OH Wholesale Working With An Agent

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

In order to begin wholesaling in Ohio my partner is working towards getting his real estate agent's license. Would this mean only my partner can do the actual work when it comes to wholesaling or could I get involved in the marketing and networking aspect of wholesaling. Would everyone on the wholesale team have to be agents as well?

Congrats! This is definitely a network worth knowing :)

Post: I think I found a deal!

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

Thanks for the advice! I found them driving by and calling the FSBO. I will definitely seek a real estate agent, but in the past getting them to run comps around here has been like pulling teeth. I had to call back later as the wife wanted to consult with her husband so I am going to dig into their motivation further Monday morning.

The area is decent, near a healthy main street in town, definitely going to scope out the place some more. Will return with further info! @Ryan Dossey 

 thanks for the formula. The numbers definitely dropped to the 50s range based on that estimate! If you see a really out of whack but low home sales price, like $9000 amongst much higher ranges do you still factor it in or choose something closer to the area of higher numbers, but perhaps a further distance from the home? Like a lot of homes 2 blocks up from this area well over 80. It's amazing how much can change in a few blocks :D 

Post: I think I found a deal!

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

I found four homes all estimated, according to Zillow, to be worth around 60,000-70,000 each and being sold as a packaged deal as for less than 110,000. The seller wants out (sounds motivated). How could I arrange to wholesale/assign these homes to a cash buyer?  

Post: owner financing question

Nzinga HartPosted
  • Hiram, OH
  • Posts 44
  • Votes 2

Awesome post @Brian Gibbons you are a true educator :)