All Forum Posts by: Alfath Ahmed

I'm looking to purchase an 8 unit property.  The owner is asking 600k but I'm not sure his valuation is accurate. The property consists of two 3 unit and one 2 unit buildings.  All units are 2 bed 1 bath, single story with off street parking.  He is currently getting $550/month for each unit.  I believe that when determining value in commercial real estate part is based on current rent.  If I'm wrong I'm sure someone will correct me.  If someone can explain or point me in a direction that could help with that that would be great!

My markets are Columbus OH and Birmingham AL. I am buying SFH and Multi family properties that are not turn key.

I can close in 14 days and am a seasoned investor- not here to waste anyone’s time or kick tires.  

Send me your deals < $175k.  

@Alfath Ahmed I just looked up all 6 counties in Ohio that Columbus touches and searched your name in the property records and found 0 properties across all counties. I have the screenshots. Are you using an LLC to buy all of these properties?

How long have you been buying 5 properties a month? If even half a year, you should have 30 properties to list the addresses here.

Hi all - I'm looking to connect with reputable wholesalers and bird dogs in Columbus, OH for 2-4 unit deals. Please shoot me a DM to connect or if you have any recommendations you'd be willing to share. Much appreciated!

Hello BP,

I hope this message finds you well! My name is Noe (No-ee) and I’m a real estate investor currently based in Southern California. I specialize in buy-and-hold and value-add investment strategies, with a focus on multi-family properties. I’m now looking to expand my portfolio into Tennessee, Massachusetts, Maryland and Minnesota markets.

I’m eager to connect with realtors and lenders who have experience with multi-family properties (leaning to commercial) and understand the dynamics of value-add opportunities in other markets. If you or someone you know is active in this space, I’d love to connect and discuss how we might collaborate on upcoming opportunities.

Feel free to reach out directly via DM and I look forward to learning more about the local market and building strong partnerships!

I've been studying real estate investing the past 3+ years but never took any action. After a recent wake-up call I realized I had the classic "paralysis by analysis" and am looking for some help in taking that first step. For some brief context on myself, I've always had a passion for investing, which led me to getting a BS in finance and a job in financial planning. I started with stocks & derivatives trading, but eventually realized that real estate is much more scalable and offers long-term financial freedom.

Being based of out LA county there's not many realistic 1st time investment opportunities, so my search has been aimed towards out of state single family rentals. It seems that TX/OH/TN are popular locations and easy to get into as a new investor. I know that out of state can be difficult, but my hope is that with proper due diligence and a solid team I can find success. I feel that single family will be the easiest to get started, but my goal is to eventually transition into multi-family & commercial properties.

I've always struggled with taking that first step, so I'd love to speak with someone experienced that can walk me through their first investment. If there's other 1st time investors that are open to having a conversation, I'd love to connect and learn from each other!

Hey all,

I'm looking to enter the RE market with a few rental properties, ideally in the Chicago suburbs. I'll have the option to invest anywhere from $50,000 - $100,000 in down payments. I'm targeting rent-ready single family homes and multi-family properties (2-4 units). 

What is my real budget here? I'm curious how many properties I could reasonably afford up front. Does it make sense to diversify and make 2+ purchases with this initial seed? My instinct tells me yes if I can find quality properties at my price point, but that there could be some benefit to putting it all on one potentially more reliable/higher quality structure. 

I'd love to hear what the rest of you folks might do if you were in my situation. Thanks a ton.

I work with a lender based in Chicago that allows a 15% down payment on 2-4 unit properties. This means that theoretically, you could afford purchasing power of around $660,000 if you have $100,000 for the down payment. However, it's important to consider reserve requirements and other fees. Additionally, the lender allows for 3% seller-paid buyer credits, which could save you even more money.

Hi BiggerPockets Community,

I'm a new investor based in San Diego, CA/, exploring the Cleveland, Ohio and Columbus, Ohio market for my first multi-family property investment and would love to get some advice from experienced investors.  I'm mainly looking for duplex, triplex or quadplex.  

Market:

I’m looking for although not sure what would be the best neighborhoods:

• Properties priced around $150,000 or less.
• Areas with low vacancy and crime rates.
• Neighborhoods where rent prices are stable or increasing.
• I'm mainly looking for properties which are tenant occupied. 

Key Questions:

1. Neighborhood Insights: What has been your experience with these areas? Any insights on market trends, potential pitfalls, or things I should look out for? What are the better neighborhoods in Cleveland/Columbus that I should consider for multi-family units?
2. Financing: I’m planning to use conventional financing for this purchase. What’s the best way to approach financing for a first-time investor? Any recommendations on lenders who are experienced with multi-family properties in Cleveland?
3. Risk Mitigation: What strategies do you use to mitigate risks when investing in older properties in Cleveland, especially in terms of unexpected repairs or property management?
4. Rent-to-Price (RTP) Ratio: I’ve been looking for properties with an RTP ratio of 0.60 or higher. For those who’ve invested in Cleveland, is this a realistic target for multi-family units in the neighborhoods I’m looking at?

Investment Goals:

I’m interested in create steady and consistent cash flow with a long-term appreciation with this investment. I would prefer prefer neighborhoods that are showing signs of population growth and economic development but open to recommendations.

Would love to hear from anyone with experience in the Cleveland market or similar! Thanks in advance for any insights.

Thanks in advance,
Hector

My wife are in escrow on our first rental property purchase (in the Columbus, Ohio market) and are underway with inspection, finalizing the loan, getting quotes on homeowners insurance, interviewing property managers, etc. Are we approach close over the next month, and in the time after, what are some best practices for us to consider? I'm thinking potentially tax, liability, etc. but would love to understand specific steps people would recommend for the hours, weeks, months, and beyond. 

Thank you!