First Project Excitement - Newbie from Columbus OH

First Project Excitement - Newbie from Columbus OH

Columbus, OH · Member since 2018 · 3 posts · 6 votes

Hi Everyone, 

After many books and a motivational discussion with an experienced investor in my area, Brad Clarizio, I decided to stop waiting and dive into my first project. I want to post updates of this project as I go in order to help other new investors. One helpful thing I've done so far is set hard deadlines for myself. This way when I make phone calls, I can demonstrate a sense of urgency and be taken more seriously. I will post updates on this several times per week - please let me know what an appropriate sub forum for this would be. So far here is my progress, having started less than a week ago:

  • - Initiate a search with Brad - He is a licensed agent as well as an investor
  • - Visit a couple distressed properties in southern Columbus
  • - Call several hard money lenders - set up meetings accordingly
  • - Call a few inspectors - I have one ready to visit a property once I close
  • - Call GCs - I have one GC who seems to be a good fit although I expect the renovation to be very challenging
  • - Made a deal analysis excel sheet for calculating my offers (I prefer making my own)
    • - I added a "Factor of Safety" for my renovation time and cost
    • - With time and experience, I'll hopefully be able to adjust these
  • - Accepted the fact that this is going to be very difficult with many obstacles to overcome

Throughout this process, any advice, critiques, etc. would be very much appreciated. I love how kind and welcoming everyone is in this community. I hope you all have a great weekend and I look forward to talking with you in the future!

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Rental Property Investor · Columbus, OH · Member since 2019 · 131 posts · 183 votes
6y

@Alex Brandt best of luck, looking forward to following the journey!

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