The First class sold out in two days, so here is the second opportunity! Thursday April 14th, 2011 from 6-9PM. Owning Rental properties in Columbus Ohio! Are you either a current rental/investment property owner in Columbus area, or are you considering buying rental/investment properties? If you are a landlord, or considering getting into that business, this class is for you. Held at 1510 W Lane Ave, Columbus, Oh 43221. Admission is $20 per person to cover dinner, which will be provided. This is a working dinner. There will only be two 10 minute breaks during class. All admissions must be pre-paid to properly plan dinner. What is covered: Managing Investment Properties The purchase 1.) Minimum Credit 2.) Ratios 3.) Money Down 4.) What types of loans exist 5.) Interest Rates What kind of deals are out there? Brief Overview Before you buy - LLC’s compared to owning the properties individually
- How you set up an LLC
- How you put property in LLC’s
You bought a property, now what now? 1.) Opening business accounts a. Savings b. Checking c. Maintenance 2.) Leases a. Review Ohio Bar Association lease b. Earnest money clause c. Maintenance Law d. Home Warranties and how to effectively use them e. Possible Addenda i. Pets ii. Property Code iii. Trash iv. Smoking v. Policy on respect of neighbors/neighboring properties vi. Rent Schedule vii. Snow removal/lawn care f. Review one of my UA leases and clauses i. Smoking ii. Policy on neighbor complaints iii. Snow Removal iv. Open houses v. Notice to renew or vacate vi. Month to month costs vii. Put all dates on your calendar for checking in! g. Review when to start and end leases. 3.) Why you must adhere to the clauses in the lease yourself a. Late fees b. Pro-rations c. Rent holdovers 4.) Evictions a. How much do they cost b. When do I start proceedings c. How long will it take? d. What is your likelihood of recovering damages in court? e. What is the court proceeding like? 5.) Hire a Realtor to get a tenant, hire a property manager, or do it yourself? a. Cost benefit analysis. b. Time invested. 6.) Tenant Screening tips. a. Credit standards b. Credit checks c. Background checks d. Sexual predators 7.) Lead based paint requirements 8.) Residential Property Disclosures. 9.) Fair housing law. 10.) Classes you can take online and live in Columbus Ohio pertaining to property management. 11.) Insurance on your rental. 12.) Utilities-forms and procedures 13.) Where to have them sign a lease-copies 14.) How long do you need these records 15.) Q & A The above is a tentative outline of everything we cover in class. I may add or subtract prior to class. There will be a loan officer, property lawyer, and insurance representative there. This class does not involve any sales pitches. It is provided as a service to the Griffith Team existing clients, Realtors, and community members, to help you(as a landlord) stay compliant with Ohio Property Law. The better job you do managing your investments, the more homes you buy, keeping our central Ohio economy going :-) |