Nationwide Children Hospital Rehab

10 Replies

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $50,000
Cash invested: $100,000

Rehabbed interior and exterior of house including built a single car garage

What made you interested in investing in this type of deal?

The area is improving and we to provide housing for the nationwide children workers

How did you find this deal and how did you negotiate it?

We found this deal on mls and made a fair offer based on our numbers

How did you finance this deal?

Private money from 2 lenders

How did you add value to the deal?

We pulled 3 bedroom & 2 bathroom comps of area above e Livingston.

What was the outcome?

We are holding it as long term rental

Lessons learned? Challenges?

Plan additional month to build a garage to partner with City on specs.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes we worked with keybank to cash out refinance the property and Plaid Properties to rehab the property

Originally posted by @Asrar Rashid :

Hi Ryan, sounds like a great deal. Can you kindly let me know which ZIP codes are best for the Children's Hospital workers? Thank you

43205 and 43206

 

@Ryan Mainwaring I haven't been there in a while.  I ran the nationwide marathon a few years back but everytime I'm there it changes quite a bit.  I had a cancer as a kid and was up there a lot (from portsmouth) and then all growing up was there at least once a year.  And then more recently my niece had leukemia so my brother and sister in law were spending a ton of time there.  That hospital has a special place in my heart, and it's nice to see places around it getting nicer. 

Texas is great!  San Antonio is a really great city and not a bad place to invest either.  

@Aaron Bihl   Thank you for sharing your history.  Glad to see the Hospital really helped you and your family.  

This area has changed a ton in the last few years, for example this property is on miller avenue in driving park. A few years ago I would have only bought properties in southern orchards, old oaks and merion village but now I would buy in those areas plus driving park, all areas down to vasslor village, and all areas down to reeb-hosack.  The city plus private investors are doing a great job to make this area nice and safe.

@Ryan Mainwaring

Great work and nice BRRRR for motivation.

I am surprised that you mentioned driving park as a favorable area, while I was recently looking in that neighborhood was told by a couple of PMs that it is many years far from any gentrification.

I think you are in good shape because Miller ave is just around where Driving park begins?

I recently purchased a duplex around 7-8 blocks south of E Livingston in southern orchards and is going through a rehab for long term rental.

Thanks

Kunal M.

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