All Forum Posts by: Andy Pham

@Nick Shri Thanks you! How is your BRRRR learning going?

Thanks @Marc Rice!

Hi all,

I'm from California and just closed on my first investment property in Columbus. It shouldn't come off as a surprise that I got a property in North Linden, as you all know how hot Linden is right now. 

I'm looking to learn more about the market and I'd like to connect with more people who are investing in Columbus. I've gathered a lot of knowledge about the market and built up enough confidence to invest out of state. Though, I haven't seen a post that focuses only on the "secrets" and gems of Columbus.

Does anyone have any insider, local knowledge of Columbus in terms of real estate investing? What advice would be valuable for a person not from the area?

Let's learn together.

Andy

@Erickson Sainval Thank you! Yes I agree, Remington definitely gets things done. 

Are you investing in Columbus as well?

Thank you @Dmitriy Fomichenko! 

I see you're from California too so you definitely understand why I'm investing OOS.

Hi all,

My name is Andy and I'm a new real estate investor based in San Francisco, California. I just closed on my first out-of-state property yesterday and I'm already looking to get into my next deal (even with very low capital but that won't stop me). Feel free to connect with me and I'll answer any questions you may have (whether you have tons of experience or if you're just starting out and need a kick).

I'm extremely motivated and this train isn't going to stop.

Hi all,

My name is Andy and I'm a new real estate investor based in San Francisco, California. I just closed on my first out-of-state property yesterday and I'm already looking to get into my next deal (even with very low capital but that won't stop me). Feel free to connect with me and I'll answer any questions you may have (whether you have tons of experience or if you're just starting out and need a kick).

I'm extremely motivated and this train isn't going to stop.

Hi all,

My name is Andy and I've been browsing the BP forums for a while, but realized I never made a proper introduction. I'm a new real estate investor based in San Francisco, California. I just closed on my first out-of-state property yesterday and I'm already looking to get into my next deal (even with very low capital but that won't stop me). Feel free to connect with me and I'll answer any questions you may have (whether you have tons of experience or if you're just starting out and need a kick).

I'm extremely motivated and this train isn't going to stop.

Investment Info:

Duplex buy & hold investment in Columbus OH.

Purchase price: $120,000
Cash invested: $30,000

This is my first long-distance OOS purchase and hoping to BRRRR on my next deal.

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

After doing tons of research on the different markets and whether I should start with a single family or small multi, I found that a duplex in this area would best align with my goals and commitments.

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

My real estate agent brought it to me and negotiated from inspections.

How did you finance this deal?

I used a conventional loan from a lender recommended by my agent.

How will you add value to the deal?

The rents are below market so I'll be doing some cosmetic renovations to spruce it up.

What will be the outcome?

I will be able to increase the rents and build equity to eventually refinance for my next property.

Lessons learned? Challenges?

Make sure you read everything you're signing. It's easy to miss things when you're getting caught up in the moment.

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

My agent Remington Lyman and my lender First Ohio Home will answer any questions you may have whether you've had 50 years of experience or you're a complete newbie.

Feel free to connect with me and I'll answer any questions you may have.

On to managing my first property and the next deal!

@Justin Engel

See how many deals the agent closed within the last year. See how many properties they’ve invested in. See if they’ve worked with investors. See if they have you in their best interest.

For property managers, make sure they have a system down. Understand all their fees and how they operate. You want to make sure they will be actively working to save you money in the long run.