Newbie from Cbus, Ohio

Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes

Newbie investor looking to increase my knowledge on the site. My goal is to create passive income through buy and hold investing or BRRRR with a focus on single family homes to begin. Interested in sticking to Columbus area. I'm in the car a lot for work and found BP through my real estate investing Podcasts. Hope to get past my "analysis paralisis and find my first deal in the next 3 months.

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Kim Younkin

Real Estate Marketing Professional · Columbus, OH · Member since 2015 · 299 posts · 125 votes

Welcome, @Mike German! We manage units in Westerville; it's an attractive area for our multifamily investors because of the great schools. Make sure you talk to your neighbors and everyone around you...you could find your first deal in your very own neighborhood. Don't underestimate chatting in the line at Starbucks....and I'm not kidding. Best of luck! Let us know if we can answer any questions for you.

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Dave VisayaPro Member
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Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
9y
Hey @Mike German welcome to the site! It's great to have you! Hope you are able to enjoy the site and feel free to connect. You might want to try setting up keyword alerts. https://www.biggerpockets.com/alerts
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George Emmons
Milford, OH · Member since 2016 · 47 posts · 13 votes
9y
Hi mike, welcome to BP. Im down in cincinnati. We run a property managment company and my wife and I are agents. Feel free to reach out if you want to head south with your investing.
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Kim Younkin
Real Estate Marketing Professional · Columbus, OH · Member since 2015 · 299 posts · 125 votes
9y
Welcome, @Mike German! We manage units in Westerville; it's an attractive area for our multifamily investors because of the great schools. Make sure you talk to your neighbors and everyone around you...you could find your first deal in your very own neighborhood. Don't underestimate chatting in the line at Starbucks....and I'm not kidding. Best of luck! Let us know if we can answer any questions for you.
2 Reply
John Cohen
Rental Property Investor · Mineola, NY · Member since 2014 · 838 posts · 212 votes
9y
@Mike German Cbus is a great area!!! I own 48 units out there and bought a real disaster property and turned it around in 12 months, now its humming along and we are looking to sell and buy a larger asset
1 Reply
Rosston Smith
Investor · Warner Robins, GA · Member since 2015 · 1k+ posts · 490 votes
9y
Great thoughts man! Welcome to BP!
1 Reply
Brandon Schlichter
Real Estate Agent · Circleville, OH · Member since 2008 · 633 posts · 488 votes
9y
On a good note you're in a fantastic market to do BRRR and similar deals. I started off 3 years ago or so with that intention, refinancing has been a bit more difficult than I originally intended, but it's still an extremely profitable venture and very much worth your time if you're looking to build long-term wealth.

Where else can you get stable investments using mostly a bank's money, take the investment off your taxes, have someone else pay for your leverage AND cashflow and appreciate?
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
9y
Mike, one thing that has really helped me learn more throughout my career is going to the many meet ups here in town. I just went to one that I hadn't been to in awhile and made 6 new connections. 1 flipper, 2 wholesalers, and 3 private money lenders all from one meeting. In Columbus, there is COREE and there is another one put on by Ed at Tommy's Pizza. I'd recommend you go to both. I haven't been to COREE but I plan on going. Other BP members have helped me get the info and I'd recommend you go to a few of these meetings too.
[email protected]786-494-6766
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
Thanks for the warm welcome and advice!
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Brian Pleshek
Investor · Hamilton, OH · Member since 2016 · 272 posts · 77 votes
9y
Welcome to BP, @Mike German from Cincinnati.
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
Robert Ellis thanks for the info! Just signed up to attend the CPIA in Whitehall on 11/15 at 6pm. Will check out COREE, too. There is so much info on this site but at some point, you have to hit the streets. I've already made a solid connection with an investor Inspector (who's actually one of my neighbors). I have my RE attorney identified as well. My next hurdle is finding where in the city I should focus on at first. I hope to network with other investor to get a sense of areas to pursue and areas to avoid. Thanks again.
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
9y
Awesome! That was the first one I went to in August of 2014 when I move to Columbus. Make sure you grab some business cards and sit next to people you don't know. I think it is still run by a guy named Todd. I haven't been there in awhile.
[email protected]786-494-6766
Section 8 Launch52 Reviews
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Ed W.
Investor / Landlord · Columbus, OH · Member since 2015 · 276 posts · 174 votes
9y
@Mike German
There will be a FREE meeting next Thursday (November 17th) for experienced and newbie Investors, Landlords, Wholesalers and Flippers at Tommy's Pizza on Dublin-Granville between Sawmill and Riverside. Tommy’s is attached to the western side of Oakland Nursery. The meeting starts at 6:00 PM.
You can arrive at any time but from 6:00 - 7:00 PM they'll have a Q&A which is very helpful for newbies. After that there is usually a featured speaker on an important topic.
There’s typically a good mix of attendees - usually one or more attorneys, a number of agents, many experienced investors, landlords, flippers, rehabbers, contractors, lenders, etc. This will be a very good opportunity for networking and to meet people active on BP (and those who don't use BP).
The meeting will end around 9 PM but the room will be available for networking till about 10. As stated above, except for any food or drink you happen to order, there is no charge to attend. Attendance is usually around 40 - 55. This group has been meeting for years and attracts attendees from all over Columbus Metro.
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
@Ed W. Thanks for the heads up, Ed! Would love to attend but can't make 11/17 work. Any idea of if there is one in December? Also, who is this organization through? I'd like to put in in my schedule now.
My newest updates are:
* Have networked with my non-BP neighbor who's been an investor inspector and in the game for years. Ideally, he will help show me the ropes on walk-throws and knowing when to run or double down.
* Have networked with other non-BP investors/clients I know to get their real world experiences. As we have heard, everybody has an opinion, tip or trick. My key has been to absorb it all and add it to my strategy and see what works.
* Found investor agent through my residential realtor who's set up my initial search criteria.
Here are my two biggest roadblocks:
1. Financing initial deal: I've got an OK start up bucket but will have to use private or hard money for a portion of initial deal.
2. Analyzing the deal: having a difficult time getting close to 2% rule (averaging closer to 1%)
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
@George Emmons Thanks for reaching out, George! For now, I'll be focused in the Cbus area. Once I figure out what the heck I'm doing and get some battle scares, I may explore the Cinci area. If so, I would be 100% looking for a solid Property Management team.
I will reach out if I head your way!
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
Kim Younkin thanks for reaching out! I've checked out your site and some posts from your group. Finding a solid PM company will be a big part of my strategy. I will reach out to set up an informational meeting at your office in the next couple weeks.
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
John Cohen thanks for reaching out, John Cohen ! You have done very well and are at the end stage where I'm heading. How did you get started? What did you target early on?
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Kim Younkin
Real Estate Marketing Professional · Columbus, OH · Member since 2015 · 299 posts · 125 votes
9y
Super, @Mike German. It sounds like you're making great strides. We'll look forward to talking with you!
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Mark Nolan
Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
9y
@Mike German
Welcome to Bigger Pockets. You are at the right place to continue to learn about real estate investing.
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John Cohen
Rental Property Investor · Mineola, NY · Member since 2014 · 838 posts · 212 votes
9y
@Mike German started buying small tax deeds in philadelphia and then became a broker for Marcus & Millichap and wanted to focus on multifamily acquisitions. Before real estate I was in a financial advisor, so with the real estate experience and financial experience it got me into what I am doing now. If you ever have any questions don't hesitate to ask.
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Danielle Fattizzi
Wholesaler · Saint Augustine, FL · Member since 2016 · 328 posts · 98 votes
9y
@Mike German Welcome to the club and good luck in all you do!
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
@Danielle Fattizzi Thanks Danielle! It's exciting and I have a ton to learn and figure out- I'm looking forward to it.
1 Reply
Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
@Rosston Smith thanks for shout out! Looking forward to getting involved and figuring this business out.
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
Robert Ellis I wanted to update you on the CPIA meeting I attended last week. It was a decent event with mostly newbies; 2 investor/realtors in attendance with what seemed like decent tenure. One challenge I had with the meeting (and I think Josh and Brandon would cringe at) was that is was very "guru" focused. If you sign on with the guru (he who must not be named) and split deals with him, you'll eventually learn and figure it out. For $5,000/year, you could earn X. I'm 100% opposed to that approach and would rather spend money on books, late fees from the library and meeting up for coffee. I will check out the January COREE meeting (Dec is holiday party focused).
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
9y
Originally posted by @Mike German:

Robert Ellis I wanted to update you on the CPIA meeting I attended last week. It was a decent event with mostly newbies; 2 investor/realtors in attendance with what seemed like decent tenure.
One challenge I had with the meeting (and I think Josh and Brandon would cringe at) was that is was very "guru" focused. If you sign on with the guru (he who must not be named) and split deals with him, you'll eventually learn and figure it out. For $5,000/year, you could earn X.
I'm 100% opposed to that approach and would rather spend money on books, late fees from the library and meeting up for coffee.
I will check out the January COREE meeting (Dec is holiday party focused).
I would agree with you. The other part was that it was much smaller. I went to one about 2 years ago and liked it, I should probably give it another shot. For the price though, I'd join COREE. Each CPIA meeting last time I checked was $10 per meeting per person. Is that still the case? I liked that the organizer did live calls and was open for questions though.
[email protected]786-494-6766
Section 8 Launch52 Reviews
Website View Page
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Mike German
OP
Investor · Parker, CO · Member since 2016 · 59 posts · 37 votes
9y
Quick update! I'm in contract on my first duplex in Columbus (43229)! Doesn't need much work and inspection set for Thursday! If all goes well, should be able to cash flow $500/month. Hope to lose my "newbie" handle and get this first deal squared away!
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