All Forum Posts by: Jonathan Styer

Hi Frederick, Columbus is a great hybrid market for cash flow and appreciation. Wishing you all the best in your new journey! 

Great job! Looks awesome. 

I would speak to your CPA about this. They are going to be the person who can help you best. 

Speaking to the long term furnished rental. I know people that have done it. It's two sides of a coin in that you will have a much lower tenant pool looking to rent your property. On the other side, there really are usually not a lot of options for searching tenants, so you don't have much competition. This may be the route to go for you if you're going to be gone for a long time and don't want to move all your stuff out. You can charge more for furnished long term but not as much as you could for mid term. Have you considered short term rental? I don't know the Denver market but I would imagine there would be demand for it there. 

Overall this is pretty in line with what people should expect to pay in Columbus. I see a little bit of nickel and diming going on here but not extraordinary. @Trent Ecklar is right, the 15% markup on renovations could be pretty costly depending on what is needed. Also, why is the PM getting any pet fee? Just my thoughts. 

Quote from @Davis DeFore:

Quote from @Jonathan Styer:

@Davis DeFore Check out Furnish Finder for mid term rentals, it's mostly traveling nurses on there. The supply is no where near the demand from what I've gleaned, so you should do well. 

Someone just told me about this site, do you like it more than airbnb?

It’s a much different experience. I would say it’s more akin to longer term rental than short term. Tenants sign a lease and give a deposit, etc.  

@Davis DeFore Check out Furnish Finder for mid term rentals, it's mostly traveling nurses on there. The supply is no where near the demand from what I've gleaned, so you should do well. 

Quote from @Columbus Wilson:

Looking to buy my first rental property to buy and hold! Possibly using 203k. I'm being told consistently to wait until the market drops by family and friends. 

Do you live in Columbus? I only ask because a 203k can only be used on a primary residence, so you'd be required to live in the property for minimum of one year. Regarding rates, you've already heard the answer, either the numbers work for you or they don't. No one has a crystal ball and can tell you what will happen in the future, but time in the market is always your friend. 

Not legal advice, but I've never seen anyone "get in trouble" for something like this and it is not uncommon. The property was potentially rehabbed without pulled permits and so the county was not notified of the change, or, the website is just wrong. Either are possible. 

To get this on the books you're going to have to have it inspected and permitted through the county which will most likely require removal of drywall. Most investors will put that in the "not worth it" category. 

Any listing is "deemed reliable but not guaranteed", nothing is going to prevent you from listing the property for rent with 1.5 baths as it does have 1.5 baths. 

Thanks for the kind words Bryan, excited to keep the ball rolling!