All Forum Posts by: Art Mimnaugh

@Geoffrey Chen OOS or local I think it really depends on what you are looking for and your level of risk and involvement desired.    As @Trent Ecklar pointed out looking at Westerville/Gahanna/Dublin/Grove City are all great B class areas, IF you are a B class investor and are comfortable with the prices and CoC returns associated with that asset class. Specific to Linden that is very much a C class area and we own buildings in that area that have done very well. With that said they are C class, so if you are looking for passive income this isn't it! We have seen strong rental income growth in this asset class throughout Columbus but you have to also account for more frequent turns/evictions and general higher maintenance cost that generally goes with this asset class. Build these into your numbers and get a great team together, but understand even with the best team for C class you will need to stay involve to actually make money. As far as other markets mentioned, Hilltop/Westgate I know there is a lot of properties changing hands but for me this is still a very rough area that we avoid, but like a lot of Columbus this can be very much a street by street. Hope this helps and don't be scared off as an OOS investor in C class but ensure your do your homework and it is the right asset class for your goals.

Cheers,

ART

@Vince Scolari we haven’t, we actually were looking to do this on the buy side of a deal but couldn’t get details worked out and seller comfortable.   Sorry couldn’t be of more help.

@Vince Scolari seen this a bunch in Columbus to avoid the aggressive attorneys they have pursuing property owners for re-assessment. The key issue to be careful of is if you are doing a 1031 as there are a lot of conditions to be meet to to ensure you don't have a taxable event when selling LLC.

@Michael Hudelson happy to have a discussion or coffee.   I also live in Bay Area and we have a number of properties in Columbus.   Happy to share my experience and compare notes.   Send me a PM and we can connect.

@Carlos Castillo I would use the BP calculators as a good starting point. Also 20% down on a non-owner occupied SFH and under $50k mortgage will limit your options so make sure you have that lined up with corisponding rate which will be higher then I think you are using.

@Craig Williams as everyone has pointed out determining your objectives and levels of risk are key.   With that said I see you are in Bay Area so would be happy to grab a coffee and go over what we have been doing.   Can give you some perspective as an OOO investor on what we have learned.  PM and we can set something up.

Cheers,

Art

@Eric P. completely agree and think that is true is just about every market where you can find the right sub-market.   Additionally there are sub-markets in In these same cities that are suppositly redeveloping that driving through I just don’t see it and would never invest in.    Point being use a number of data points and never just base it on a paper anyalsis.

Cheers

@Susan O. you have it backwards as least from the census data.   Columbus growing and Cleveland was declining.

@Mike Binford you have a deal sheet with the details of this one?   Will drop you a PM.

Cheers,

Art

@Jon H. I am a big believer in great things don’t happen without a plan, so that is a great start.   Welcome to BP as I am sure you have seen a lot of great contacts and information.   Would be great to connect and exchange some notes and ideas.   

Cheers,

Art