All Forum Posts by: Grant Patmon

Congrats on the deal if it works out Monte. 

Hey welcome to BP.  I have done a bit of both..  Feel free to holler if I can help with anything.  :)  Your sales background will be a great help to your investing.

Great question! I have been wondering the same things. I'm excited to hear some responses to this!

Lol this was all really entertaining to read.  If there is a spot in the city where you can find houses all day  with spreads like that that pro's would have already been all over it.  There frankly is no "secret" area.  Buying in gentrification areas can be a smart play, but its no cake walk. 

Some of those areas you have classified are way off some spot on and some are just too diverse to classify that broadly. Take the hilltop for example. There is a lot of garbage real estate in the hilltop. BUT... There are also several pockets with quality housing stock. I have mostly single family homes in gentrification areas so I can really drive equity ,rents and tenant quality with a solid upscale rehab. That being said the cap rates I'm getting are going to be different than larger multi family assets. I can say to expect cap rates in the city to go down. Larger developers are building upscale apartments like crazy here (literally #3 market in the country for these luxury builds) which has saturated the market making tenants less inclined to pay top dollar for older multi family residences.

Call a couple of heavy construction companies. They are hauling away literally hundreds is cubic yards all the time. I'm sure they would give you some maybe Even deliver for cheap.

You should consider finding a good attorney that understands the type of deals you are looking to do. Also a title company that understands potentially complex transactions as well. The Ohio board of realtors has a contract that is used by all realtors that you should be able to get from your attorney or a trusted realtor.

Hey Troy. 

Right now in Columbus everything is selling.  And fast. And for top dollar.   It may be hard to find a home in that price range in those areas on the mls.  Potentially a condo.  if you don't have mls you should download the Zillow app and research your target areas. You can get a great idea of what is selling and for how much poking around on their app. 

Good luck!

Welcome to BP.  I am always looking for deals.  Feel free to shoot any potential properties you get my way.  Good Luck!

Your county clerk of courts website if the county is big or you will have to stop in if it is small.