Tag: sub2 (6 articles found)

A discussion with Greg Kesterman from Hamilton County Public Health on health issues concerning property and tenants.

This course covers several topics on health issues one might face as a landlord including hoarding, meth clean up and interacting with the health department.

Incudes 1/2 an Hour in PHP Credits in Federal Regulations

Click Here to Take Online Class

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A discussion with Greg Kesterman from Hamilton County Public Health on health issues concerning property and tenants.

This course covers several topics on health issues one might face as a landlord including hoarding, meth clean up and interacting with the health department.

Incudes 1/2 an Hour in PHP Credits in Federal Regulations

Click Here to Take Online Class

   Be the First to give this Blog Post a 5 Star Rating

Is it time to sell that rental?

by  Vena Jones-Cox  on  Tuesday, July 25, 2017
According to a news article by WOSU Radio (and the experience of most of our community), property values in Central Ohio are at a record high. Does that mean it's time to sell?

As with all great real estate questions, the answer is, "It depends".

If you have rentals you'd rather not own, selling soon might get you the highest price on a property you don't want anyway. If you're good at finding distressed and low priced deals, it might be an opportunity to do a 1031 exchange into a rental you'll like better in the long run.

But if you bought your rental for long-term income and wealth building, believing that the market might be topping out (we don't believe that, but we don't have a crystal ball, either) is no reason to sell. The increased value is adding to your wealth in a non-taxable manner, and even if prices drop drastically, your income probably won't.

Getting rid of properties that have turned out to be too far, too management-intensive, or too unprofitable is always a good thing, and although we might not be at the top of the market just yet, now is a good time to divest yourself of those losers. But keep the keepers: jumping in and out of the market is NOT a good way to build wealth in real estate!
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Flipper and Other Mutations

by  Randy King  on  Friday, July 21, 2017
If you're a sci-fi geek and you just stumbled on this tome, I'm sorry to disappoint.  I'm not talking about people walking around with a third arm protruding from their chest or additional eyes on the back of their head, although in some instances, I would personally welcome such appendages.  If you've ever worked on a residential construction/rehab project or have children, you know exactly what I mean.

Instead, let’s look at how the media has mutated the public discourse on the perception of Real Estate Investing and Real Estate Investors.  I don’t just mean TV and print media here – there’s plenty of accountability to be passed around to social media and so-called “real estate gurus” as well.

There was a point in time not too many years ago when the term “Real Estate Investing” referred to the purchase of properties for rental, creating income.  The person who did this was a Real Estate Investor. 
President Dwight Eisenhower kicked off the whole real estate investing thing in this country with the 1960 enactment of the Federal Real Estate Investment Trust Act (REIT).  But Real Estate Investing as we know it today got its launch in 1980 with PBS Television’s This Old House from WGBH in Boston.

By the ratings explosion, it was clear that the creator, Russell Morash (who also introduced Julia Child to the world), had stepped into a surprising phenomenon.  People loved this stuff.  They loved doing it, but they really loved watching it on TV.
Fast-forward to today and cable networks such as HGTV, TLC, and DIY and countless web sites owe their existence to this phenomenon.  Here’s just a couple of ways that they have contributed to the mutation:

For those of a certain age, “Flipper” referred to a lovable bottlenose dolphin whose antics and social message aired weekly on NBC.  Today, a “Flipper” is anyone who rehabs houses.  But, technically, a “house flip” is a wholesale deal – where you control a property with an accepted offer, then “flip” it to someone else to fix up.

How the term rehabbing became flipping is T.V. shenanigans.  The term is really “doing a fix-and-flip”, which is where a rehabber purchases a property taking title to it, repairs and renovates it, then sells it on the retail market to someone who’s going to live there.

But the word “flip” is catchy in T.V. show titles and commercials, so flipper, flip, and flipping became shorthand.  Flipper is turning over and over and over in her watery grave, no doubt.

The term “Investor” conjures up notions of using one’s own money to do a deal, but that is rarely the case.  No, today an investor is someone that invests, time, money, or other resources into a real estate project.  Most of the time, that’s time, resources and OPM - Other People’s Money.

And because of the proliferation of so-called “real estate gurus” that fly into town, sell people the dream and completely focus on making money at any cost, investors are frequently portrayed as “low-balling scum” – the kind that offer a ridiculously low price and strong-arm little old ladies into selling.  Sigh.

And it’s no coincidence that the groups flying into town are the ones buying time on the networks to air their flipping shows.  Oh - you thought that the network was just featuring them?  Nope, those shows are paid for with money that’s being taken from people who want to be just like them.

So, the message, grasshopper, is to do your due diligence, learn exactly what this industry is all about, get the terms right, and learn how to contribute to the betterment of the community with your very visible work.  Stop in at the Madison REIA and they’ll show you how.  Tell ‘em Flipper sent you.
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Multiple Offers Strategies

by  Mike Jacka  on  Monday, June 12, 2017

When it comes to making offers, most investors only know how to make one offer at a time.  They usually make an all cash offer, also known as the MAO (Maximum Allowable Offer) or they get a loan from a bank, hard money lender or a private investor.  This strategy has worked fine for investors and if you are only making offers on bank REOs on through the MLS, then a cash/MAO offer is really all you will be able to make.

The average number offers to get one accepted with this approach is 20-40 offers to get one accepted in today’s market for most of the country.  Some more experienced investors have been able to reduce that number down to about 5-10 offers to one acceptance by being very selective on what properties to make offers on.  In other words, they know from experience that certain properties from certain banks or listing agents simply will not accept their offers so they don’t even make the offers. 

The secret to success in the real estate business is making offers.  The problem is that most investors use the same offer process when dealing with sellers directly and they are missing some huge opportunities if they just knew how to create alternative offers that don’t require cashing out the seller.

Ask yourself these two questions: Read More...

   Currentely rated 4.3 by 7 People

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by  Nicolas Zepeda  on  Thursday, June 01, 2017
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