There is an almost continuous dedicated bicycle path from downtown Delaware that reaches to downtown Columbus. Join me to enjoy this path on Saturday the 20th of May.
Leg 1
7:15 – Depart from Havener Park where there is easy parking, for Murphy Park in Powell. 8.0 miles.
Leg 2
8:15 – Depart Murphy Park for Antrim Park. 8.4 miles.
Leg 3 and Brunch
9:15 – Depart Antrim Park for Jack and Benny’s and the Blue Danube for brunch. 6.0 miles.
10:00 – brunch at Jack and Benny’s and / or the Blue Danube.
Leg 4 and Finish
11:00 – depart brunch for the last leg past Ohio State to downtown. 6.6 miles.
12:00 – finish at Scioto Audobon Metro Park for pick-up and shuttle back to Havener.
Total: 29.2 miles.
If rain, make-up day is Saturday the 8th.
Check back here for updates and ore details!
Comment below to tell me where you’ll be joining, or e-mail me at nate@nathanruffing.com
Buying a home requires planning and preparation. The better prepared we are, the better deal we get from the bank, and the better deal we can get on a house. As a real estate agent, I see the benefits of financial planning (or disadvantage if lacking) with all of my clients! Financial planning = home ownership = financial planning!
Vineyard Columbus Financial Ministry
Vineyard Columbus church has excellent no pressure small groups to give you support in your path to financial freedom:
In the end success comes from our own discipline, restraint, and choices. We know what to do. Doing it is the hard part. The small daily choices are the really difficult ones because we have to stay strong every day, day in and day out. Fortunately, there are three main decisions that really matter: easy credit, our car, and our house.
Cut up all but one credit card. Pay it off every month. If you can’t handle that, cut that card up and go all cash. Difficult, but simple.
Save for a car and only buy what you can actually pay cash for. Difficult, but simple.
Buy a house instead of rent, and buy one that you can afford. Take care of your house and your house will take care of you.
After these big choices, relax on the little ones. Go out to eat. Enjoy cable TV. Tip a little extra for those hard-working service job employees who are in the same struggle you are and help the next person out because your a financial winner now…
Most homes for sale are listed on the MLS with a seller’s real estate agent. Most of those are listed under a contract called an “Exculsive Right to Sell,” with the seller’s agent and buyer’s agent commissions already agreed upon. That means that a buyer’s agent is already paid for if you buy the house, whether you have an agent or not. The seller pays for it from his proceeds. Make an agent earn that commission by working for you!
So where does the money go if you don’t have an agent? In that case, the seller’s agent usually is entitled to both sides of the commission.
Are you a renter in Linden? This is for you. There is a good chance you are paying more in rent than you would pay monthly for a loan to buy a house.
When you own a house, you save money, and improve your neighborhood, while building equity. Equity is the amount of money your home is worth more than the amount of money remaining on your loan. Equity increases as you pay your loan.
The first step is to talk to a lender and fill out an application. It is worth the try!
Ask about a 203K loan, which allows the buyer to borrow money to complete required maintenance.
Both of these lenders’ offices are close to Linden.
Below is a spreadsheet of the typical costs of operating a rental house in Linden. It shows that you are already paying enough … but you need to take credit for what you are paying by buying a house! If you either have minimum credit or can pay a 20% down payment, there is a chance you can own a home by just moving to another block or even by offering to buy the house you already live in.
You should ask your lender about an assumable loan. This means that if you sell your house in the future, you can pass the loan to a qualified buyer. Typically, FHA loans are assumable.
The market conditions are great to buy a house right now. Interest rates have risen a little, but can still rise a lot more. If you have an assumable loan, you have the option to offer a qualified buyer today’s market conditions by giving them your low-rate mortgage along with your house.
An assumable loan can make your home easier to sell with more buyers and at a higher price in the future.
As I branch out into other sectors of the real estate industry, I first want to take an honest look at my first major investment.
The following P&L is for 1Q 2017. See the adjustments below that convert the Net Income to a realistic monthly cash flow. It shows my vision for the property, and hence my enthusiasm since I purchased. I can finally show it on a P&L.
1st Quarter 2017 Actual
Adjustments to Net Income:
+$2500: taxes. This Q’erly P&L includes an entire half year payment.
-$1500: principle payments are not cash flow, just equity.
-$1000: one quarter of insurance paid at once in July. -$525: 27 rent payments instead of the 28 shown.
= -$525: total adjustments to Net Income.
= $3,945 of actual realistic cash flow for the quarter.
= $1,315 of cash flow per month.
With $102,280 of total cash invested, that is a ~12.8% annual return. That is not a “home run,” that is a “single.”
So why am I happy with this “single”? In the sense that I want to do better in the future, I am not happy with it, but here are some mitigating factors:
I have been absent for much of the ownership of the property, and have solved many of the problems with cash, not with my own time. It has truly been passive.
I learned to hire a good manager. Much of that $102,280 cash is bumbling around with poor management. I have learned from my professional manager, Panzera Realty, about landlording and management since hiring them in Nov 2015.
The property continues to improve. The condition is better every year
We continue to cut expenses and raise rents with the market. This year we will sub-meter the water, and new units will rent without wall air conditioning units included. Even with these changes combined, we expect the same rent from the new tenants.
My original goal was to learn.
9% matches the market.
We are well positioned for an economic downturn with a quality property at reasonable rental rates.
Columbus, Ohio Occupation
Real Estate Agent
I love it so far. It puts you on the inside. A must for full-time real estate career. New website! …
Fun. More than pays for gas, but a waste of time. I drive a couple times a month still. I hope I always do. I do enjoy it.
Handyman
I will probably always do some handyman work. I enjoy it.
Kineomen
The holding company in North Carolina is positioning to invest in some sector of the real estate industry. Probably non-performing mortgage loans (NPLs).
We have a shareholder meeting at the end of this month. There is investment opportunity currently. Your only commitment is to sign an NDA. I do recommend.
Vino de Coco
I still plan on going there in person as soon as possible.
The Franklin Soil and Water Conservation District will rebate you on the purchase of a rain barrel, compost bin, “native plants or trees,” or soil testing. City of Columbus and New Albany residents can receive $100 on the purchase of trees. The link above has the details!
