All Forum Posts by: Janki Shah

WOOW, guys! Thank you for all the great advice!!!!! Funny enough I had even drafted an email that same night to terminate the contract with my PM, but literally the next day my PM reached out mentioning that the place was rented out. I will definitely be taking your advice if this happens again (hopefully never :))

Just bought my first investment property back in July in Columbus, OH. One unit is rented out but it's been a challenge to get the other unit rented (Duplex). I'm an OOS investor and have a PM company handling everything. They said there's usually a two-week turnover but here we are over two months later and the unit is still empty. I'm not too happy with the PM company - they aren't on top of it, I have to keep following up with them about every little thing. The rent is the market rate (in fact $50 less than the Zillow estimate) but still no luck. It is an upstairs unit and I'm wondering if that's the reason it's not rented yet. I was thinking of installing a washer/dryer or offering half off the first month's rent. 

Any advice on what I can do?

@Rick Trivedi thank you! That was helpful.

Thank you all for your feedback!! I forgot to add that my minimum for CoC is 8% and this was just slightly less so thought of giving it a look. I also prefer cash flow over appreciation.

@Evan you are right, I don't know if the tenants could afford the rent going up so much. However, I recently listened to a BP podcast in which Dion Mcneelay mentioned he works with the tenants and make them part of the rent decision by providing them with his analysis and costs as well as a report of current market rent rates (report from rentometer) and have them decide what would be fair for them to pay. He said that's worked well for him and they usually give a number just a little below the market rates. So I was thinking about doing that since the market rates are currently over 1000+ in that area and assume they could possibly agree to pay ~$900. 

Thanks again!

I'm looking into a property that's on the border of a C neighborhood. It's a duplex (3br and 1bth on each side) and only one side is currently rented for ~$650. Rentometer median estimate is about $1100 but BP insights estimates $750. The other side is vacant. The lease for the occupied unit ends in July, and as per my agent, the tenants are expecting a rent increase. I was thinking about increasing their rent to $900 in July and charging the new tenants about $900/month as well. If that goes as expected, my COC would be 7.29% with $395 in cash flow. Would you make an offer?

Hi All!

I'm looking to invest in Columbus, OH in the next couple of months. 

I've been doing some research and narrowed it down to a few zip codes:
Marion village 43207 (north part only), Franklinton 43222, German Village 43206, and 43223 (East side). 

However, it seems like there are not that many properties for sale in these areas. I'm looking at MFH ranging from 150k to 300k. 

Is my price range too low? Is it just the market? Any recommendations/advice on where to look which my budget?

Appreciate any advice!

Hi Phillip! Did you manage to find a property management company? I'm a newbie and an OOS investor trying to set up a team in Columbus.

Janki Shah

Hi Phillip! Did you manage to find a property management company? I'm a newbie and an OOS investor trying to set up a team in Columbus.

Janki Shah