I am from Southern California but one of the markets I plan to invest in is Columbus, Ohio. I'm planning on going there the 2nd week of February and need to plan out some tours and meetings so I make the most out of my trip. Does anyone have any recommendations on brokers, property managers, lenders/banks, asset managers, or contractors in the area I can contact? Would love to reach out and connect with them.
Any information is greatly appreciated!!
I work with a few OOS investors either on JV deals or just managing the rehab process. Feel free to reach out when you're in town!
Sounds like a great plan and I hope you enjoy your time there
I would recommend that you search around for a solid PM company and call as many as you can before you go to schedule times to meet up with you.
They’re going to be the most important group on the ground for you.
That’s awesome your coming to Columbus. It really is a great city. All of the things you’ve asked for I can give you a few local companies too. I hope you enjoy the city!
I can help with with a few recommendations on property managers and may have some opportunities you would be interested in.
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Hey BP Community!
Looking to revive this convo in Q1'19 and was hoping I can get some guidance on multi-family investing in Columbus. I am looking to find an investor friendly agent that has great contacts in the area to build out a team on the ground, with little oversight as I am an OOS. Currently looking for 2-8 units in the area with the possibility of expanding from there.
Please let me know who I should be in touch with. Thank you, greatly appreciated!
Hey @JP K. do you have any relationships in the city?...friends/family? Just curious what brings you to the local market. Columbus is a fascinating city...I'm not originally from here, but I've been in the city for the last 10-years and the upward swing has been phenomenal....even through Columbus has been the center of industry and the most stable city in the state for decades. There is a lot to learn about neighborhoods due to the extreme transition we've seen in the last 2-years. The worst part of this industry is real estate agents that yell from the top of the mountain how great these transitional locations are without facts and data supporting the claims. The regulation on agents is quite lose...It seems like I'm reporting these guys daily for false claims...but I digress.
Just make sure you do your homework and can firm up a good game plan. There are plenty of fundamentally sound neighborhoods to invest in this city. And as always, I would encourage you to network with wholesalers and even market yourself for deals.
Best of luck as you do your research.
@Lalita Patipaksiri Can you share anything about your experience over the last year...were you able to build your team? How are things going on your journey?
Hey @Brandon Sturgill thanks for making the time to respond. All valid and great points you make. To answer your question I do not have any relationships to the city whatsoever, I have never even been! I had a similar experience with my first SFH in Kansas City, and before taking a flight I wanted to make sure everything penciled out beforehand, then I felt is was time to take a look at the landscape. So in that sense, I completely agree with your comments about agents gushing about their transitional neighborhoods. We have areas here in the Bay Area such as Oakland that are block to block...literally one block may be seeing a complete transition with renovated Victorians, and the other may be housing projects in the worst part of town...all depends.
In Columbus are you finding multi-family properties meeting/exceeding 1% rule? Not really looking to take on huge CapEx projects, but also not shying away from upgrades and mid-level cosmetic work that may need to be done. The goal is to definitely establish a strong team for when i need to lean on them.
Thanks for your insights.
@JP K. No worries...it's not mandatory to have connections in the city, but it seems to shorten the learning curve...that said, my most active clients have never been to Columbus...they just don't get caught up in analysis paralysis like so many others.
1% is typically B-class properties...not bad and typically pretty hassle free...2% is not impossible in this city but it forces you to assume some degree of risk. If you stick to fundamentals and aren't afraid to do some value add, you can be over 1% easy....C/C+ working class.
I guess it's important to note we're 60,000 affordable housing units short of demand right now...the population is exploding and everything being built rents for over $2,000/mo.
@Brandon Sturgill That is fantastic to hear and extremely encouraging! Would you have a few wholesalers that you recommend? Also, took a look at what Invest Hypothetical does and from initial aesthetics, looks very well organized. Are there dollar thresholds to be active on this platform? Where do you guys come in and leave from the deal?
@JP K. A quick call may be easier ;) I'll send you a PM. I work on West Coast time, so after 1PST is usually office time for me.
Looking forward to connecting.
@JP K, you can inbox me. I'm actively wholesaling in Columbus full time and I can also assist you. Just PM me.
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