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Managing Investment Properties in Columbus, Oh

 

 

 

Buying and Renting Properties in Columbus

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.

 

Admission is $25 per person. Handouts, and rental forms are included.

 All admissions must be pre-paid via PayPal, or you can e-mail Tristam@griffithTeam.com to request a Chase Bill pay request.

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
  1. LLC’s compared to owning the properties individually
  2. How you set up an LLC
  3. 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 of 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. 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 :-)