Out Of State Investing Columbus GA

[Cody Brookes]

Hey BP, I'm looking to invest in the Columbus Georgia/Phenix City Area because of the low barrier of entry. I'm looking for someone who has invested there before and has an idea of what neighborhoods are best for rentals. I'm also looking for property managers that have worked with out-of-state investors and can give me a good idea of rent rates.  

[Glen Zuffelato]

Kyle hosts a good monthly meetup at https://calendar.google.com/calendar/event?action=VIEW&eid=MGluZGJ0M2Eya3A3c3IycHFvbWpxcXR1NzMgZ2xlbnp1ZmZAeWFob28uY29t&tok=MjMja3lsZS5hLmlzYWFjc0BnbWFpbC5jb20yOTMxY2U5NWE4OGE2NDM2MDQ1YzIzNDJlNmZlZjNiMmU4NmM3NGNi&ctz=America%2FLos_Angeles&hl=en&es=1 There are also a couple facebook groups. Best is https://www.facebook.com/group...

I have only been investing there a year.  I use Bickerstaff Parham. I was just talking to a commercial broker this week that uses https://www.columbusgaproperty...

I don't know the neighborhoods enough myself. I have a $22K 2BR house in the South that rents for $475.  2BR condos at https://www.eagleandphenix.com... are $400K. I bought a HUD auction 4/2 built in 1995 for $102K +$12K repairs near Fort Benning. Rents for $1295. Good luck. Maybe I'll see you on the meetup.

[Cody Brookes]

@Glen Zuffelato thank you so much for the info, I hope to talk to you soon.

[Cody Brookes]

@Glen Zuffelato how did you find your properties?

[Glen Zuffelato]

Hi Cody. I normally use zillow or realtor.com. My first columbus house was from auction.com.  I then bought 3 each $25K 2BRs that my new property manager was selling. I'm no Columbus expert, but more than happy to talk sometime.  Apparently BP won't let me post phone or email, but you can find me on facebook.

[Courtland Clark]

@Glen Zuffelato Hi Glen. How do you like Bickerstaff as your property manager so far? Any issues? Also, did the commercial broker indicate PMI was a good property manager? I'm currently looking for a solid property manager for single family homes in the area. Any insight would be appreciated. Thanks!

[Michael Widick]

@Cody Brookes

Hey Cody, my names mike and myself and a partner run a small construction company, as well as a property management company. Specialize in Flips, remodels and B&H. We both live here in Columbus / Phenix city area. Have for over 10 years, have a ton of connections for realtors etc.. if you have any questions or anything please feel free to Fire them at me I’d love to chat. 🤘🏻

[Michael Widick]

@Cody Brookes

Hey Cody,

My names michael Widick and I live in the Columbus area, and have been investing for a little while now. I’m actually active duty military, yet also run a construction company and a property Management company on the side. I’ve already successfully set up relationships with my self and my realtors with investors from out of town before. If you’re still interested, please feel free to reach out sometime. I’d love to hear more about what your trying to accomplish.

Thanks!

Mike Widick

[Drew Sygit]

Many OOS investors set themselves up for failure because they don't truly take the time to understand:

1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.

2) The Class of the PROPERTY they are buying - which is relative to the overall area.

3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.

4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.

5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.

6) That OOS property Class rankings are usually vastly different than the local market they live in.

7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.

8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

9) Class B usually also okay, but needs more attention from owner and/or PMC

10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!), but very difficult to DIY remote manage.

11) Class D pretty much requires an OWNER to be on location and at the property 3-4 times/week. Most quality PMCs will not manage these properties as they understand most owners won’t pay them enough for the time required and even then it’s too difficult successfully manage them.
***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.

https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?highlight_post=5562799&page=3#p5562799

[Troy Toliver]

Hello, looking to connect with someone that works in the Phenix City area

[Dan Wynn]

@Cody Brookes Hey, I would love to connect. I've been investing in Columbus, Georgia, since 2016 and have several properties in the area. I will send you a message with my phone number. Please shoot me a text so we can set up a call.

[Bryan Mitchell]

@Cody Brookes like @Dan Wynn, I’ve also been investing in Columbus since 2016. Also. Totally agree with @Drew Sygit comments on OOS investing. I moved there for work in 1998 and have been coming and going since. Like you said low barrier to entry, but low rents and low appreciation are common here. I still have family in the area and property here, so I’ll stay put, but I also have property in Atlanta that’s been much better. Compare this with other markets and decide if this is right for you. By the way, I use Binkerstaff too. Be prepared to manage the manager to protect your cash flow. 

[Cody Smith]

Hey everybody, my name is Cody Smith; I have also been in the Columbus/Phenix City area for about 10 years. I am a local realtor with CENTURY 21 here, and I know the area very well. I love investing myself and working with investors any way I can. Hit me up with any questions you may have, no matter what they are I will absolutely help any way I can!

[Gregory Flowers]

Great area to invest.