All Forum Posts by: Austin Steed

50 units in no time, congrats @Ki Lee!

Welcome @Junix Alcayaga! 

Awesome you're from Columbus and a Buckeye! 

I'll PM you with the painters we usually use here in Columbus.  I've got an exterior and interior guy

Curt, I know some PM that I can send you a message about. From what I've seen PM try and stay in area's that they themselves would live in. Your portfolio is in a higher class of Columbus. PM's would probably want to connect with you just for a chance to win your business. Leverage that! 

Would love to connect soon as things continue to open up here in Columbus! 

Best

Happy to share some contractors with you. On the 4 rehabs I've done in the last 12 months in Columbus Oh I've been working on building a solid list of Subs. If you are local I would recommend paying subs if you're willing to coordinate things. I've found GC's are a little too pricey for where I want to be. Doesn't mean that they're not out there! 

@William Taylor

Thanks sir! Can't wait to see how your numbers play out once you do a cash out refi on your double.

@Curt Bixel

Yes sir

@Curt Bixel

Another thing to keep in mind is tax adjusting. The Franklin County auditor makes this pretty easy in Columbus. You can put your projected land and improvement value and it spits out the new tax amount.

Also don't forget turnover rates. Does any one have a solid turn rate calculation?

Obviously the more turns you have the more r and m are affected.

@Curt Bixel

I agree with @Daniel Judge on this. The BP calculators take capx and r and m based off of the rents the property receives. I'm not sure I agree with diluting the positive affects of cash flow by getting more rent.

All of the rentals that I own in Columbus I try to keep it $50-75 a door per month. We try and take very detailed accounting so I'm hoping I can see an average over some time.

@Bill Goodland

For sure. Columbus OH is one of the hottest markets in the country or was. So if you're able to find the right deal its great to wear those seller pants.

And I think if we did it again I'd make sure to use one contractor for every MEP. I'm doing a much larger rehab now and I'm finding it very nice to use the same plumber, for example, for the rough and finish. One point of contact throughout the whole process. With this flip it seemed like we thought we'd finish the electrical and then we ran into other odd small problems. Like one of our light fixtures just stayed hot and didn't have a switch connected to it. We found it to be costly to get a guy out there for every little thing when in being sight you can hire just one main guys.