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All Forum Posts by: Alfath Ahmed

Alfath Ahmed has started 21 posts and replied 789 times.

Post: 2-4 Family With Cash Flow

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Matt Schreiber:

I know this is a common question but wanted to hear specifically from investors or realtors that are seeing MLS cash flow for 2-4 unit properties. I've only invested in STRs and was looking to get into small multi-family but haven't seen anything that made sense in any of the markets I invest in so was curious where people were seeing good opportunities.


 Cashflow is going to be the strongest in Cleveland compared to other ohio markets. If you are buying on-market, you are looking at 1-1.5% rule deals. Off-market, I'm seeing 1-2% rules. I prefer Old Brooklyn, Cleveland heights, Euclid, edgewater, etc. 

You can find a ton of cash flowing 2-4 units. If you want to buy STR or MTR, i recommend buying next to hospitals there or near strong economic bases.

Post: Renovations in Columbus OH

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Gil Levi:

Hi, Everyone!

We are looking for recommendations for a reliable GC in the Columbus, OH area. We looking for someone who`s Investor friendly, and can deal with a project from A to Z, and can go and estimate the cost of repairs for properties that we may be purchasing.

Your recommendation is greatly appreciated!


 Hey Gil, I've got 4-5 contractors here in Columbus that have done my projects and my clients as well. If you want to message me privately. I can share their contact info.

Post: Investing in Ohio-Specifically Section 8

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Nicholas Nakamura:

Hello everyone!

New here to the forum and I am currently looking to invest in Ohio for the purpose of providing section 8 housing.  I have about 1

$110K to invest, and I am looking to invest in the next few months.  Any and all guidance is greatly appreciated.  Thank you!  Looking forward to the journey ahead....


 Section-8 investing is great. The standards have changed. They are now renting by the zipcodes. I can send the section-8 standards per zipcode. You will average about 0.8% rules here in Columbus with section-8 rents.

Post: neighbourhoods to focus in cleveland for multifamilies

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Srikanth Kumar:

Hi Everyone,

I'm relatively new to long-distance investing and am exploring the purchase of multifamily properties in Cleveland. My primary focus is on the BRRR method, with a greater emphasis on appreciation over cash flow.

For those with experience investing in Cleveland, I’d greatly appreciate any insights on neighborhoods worth focusing on. My budget is in the $200-250K range.

Please feel free to let me know if additional details would help, and thank you in advance for your time and advice!


 You are better of buying duplex deals on the west in areas like Brooklyn, Tremont, Cudell, etc... That will fit in your price range. I put together an investor package that has info on Cleveland markets and different strategies. I also have a neighborhood map and contractor spreadsheet that I can send your way.

Post: Setting up LLC in my State or out of State

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Guillaume Vidallet:

Hello,

I will be closing on my first investment property in a few weeks in Buffalo NY and looking to acquire more in 2025 in different states (ohio, PA, Michigan), being a Florida resident, which state should I create my LLC in? Should it be a parent LLC to other LLCs for each properties? Thank you for your help!
Guillaume


I would not make too many LLCs unless you are aggressively buying property since you have to file taxes on every LLC. This makes your expense go up. LLCs do offer a lot of protection. If you own property in Ohio, I would use an Ohio LLC. You can have them tied back to a Delaware or Wyoming LLC which has the most anonymity.

I can share an attorney that makes LLC

Post: Single-Family BRRRR next to Nationwide Children's Hospital in Columbus

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934

Hey Michael, I network with many agents in Columbus. I've sold around 70 homes this year with 40 agents. Just doing work together and building a relationship allowed me to ask other agents for deals that their sellers want to off-load. This is how I found this deal. 

It was an out of country investor who was wanting pull his money. It was a nice good payday for him as well.

Post: Single-Family BRRRR next to Nationwide Children's Hospital in Columbus

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $167,000
Cash invested: $25,000

Contributors:
Michael Sgandurra

This was a value-add BRRRR deal next to Nationwide Children's Hospital. 5-bed rooms and 1.5 baths.

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

Good location, right pricing, market demand, and 75% ARV deal

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

Off-market pocket listing

How did you finance this deal?

Financed the deal through a hard-money lender

How did you add value to the deal?

New roof, siding, soffit, fascia, flooring upstair, repair fencing, yard work/landscaping, new flooring upstairs, new vanities, kitchen remodel, new paint job

What was the outcome?

ARV of $285k as expected

Lessons learned? Challenges?

Always budget for extra for rehab. We had the plumbing break down and had to install new PVC plumbing

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

I was the agent on the deal and the buyer.

Post: Difficulty finding a tenant

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Victoria Hogan:

My husband and I recently bought our first rental home (in Fayetteville, AR) but have had very little interest in the 2 weeks it's been on the market so far. I'm wondering if it is priced too high or if our property manager is not marketing it aggressively enough? We found out our property manager only lists on Zillow so we are marketing it ourselves on other rental platforms to hopefully increase visibility. We have lowered the price as well but are wondering if there is something else we are missing or if it's just slow because of the time of year? We're really wanting to get someone in before the holidays but are not sure what else we could/should be doing.

Thanks!


 Zillow is going to be the best platform to rent out properties. Make sure your PM gets zillow premium and lists it on Apartments.com and gets the premium there as well. 

It is a harder time to lists properties for rent since it is colder and not many people want to move. I would lower the price and eat the cost for a year. It is just the cost of doing business.

Post: Anxiety Over Rehab Costs

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Account Closed:

I’m looking for someone to help ease my thoughts… California Bay Area

I have everything ready to go for my first flip… financing, financial spreadsheets, acquisition and disposition playbook, design criteria, etc. I have title and appraisal experience, so comps, etc don’t worry me  

The one thing that is giving me heartburn is estimating rehab costs… good deals move quickly. I have no time to schedule a contractor to walk through and provide a comprehensive bid. I see investors selling for $100k-$125k above purchase with full kitchen, baths, flooring, paint, etc rehabs. I’m presuming profiting as well. I don’t see how those numbers make sense…

I’m considering paying some contractors to walk an on market house with me (that I don’t intend on buying as the numbers would never work) just to get an idea of their costs. I can then take those figures and estimate for future deals based on size, room and bathroom count, etc. 

Is this the best play here? I’m anxious to jump in and start making deals, but these rehab costs can make or break a deal. I’m fully prepared that there may be unforeseen costs, but I can’t even estimate properly for your standard cosmetic rehab… 



 I would spend the money and look to have multiple contractors walk a few on-market deals even. Have them give you a sheet with prices even if you won't buy the deal. That is what I did in another market to get comfortable. This will also help you find good contractors. 

GO to lowes and home depot at 6am. I promise you will find good contractors. Get 5 or 6 phone numbers and send them out. PAY THEM! They will take you seriously. 

Hope this helps.

Post: Cleveland and/or Columbus area

Alfath Ahmed
Posted
  • Real Estate Agent
  • Columbus, OH
  • Posts 820
  • Votes 934
Quote from @Elisha Johnston:

Hi everyone! 

Just started working my first W-2 job out of college and looking to start investing ASAP. I've got some family connections to the Cleveland and Columbus area and am wondering if anyone knows if these are good markets to start off in? I'm looking to start off in areas with lower costs coming in, preferably under $100k single families but definitely under $200k.


 There is good options in Cleveland for that. You can find good multi-family that cashflow under $200k for sure. I'd look at B class areas there. You should look at 2-4 units that will cashflow positive.