All Forum Posts by: Joseph S.

Does anyone know the average CAP Rate in Columbus, GA?

Columbus, GA is the area my wife and I have decided to start our real estate journey. Is there anyone who is investing in the state of Georgia? Specifically Columbus? Is there anyone who invests in military towns and commonly has military tenants? I am trying to learn what military personnel find to be the most attractive qualities in rental homes (school district, rental cost, does BAH truly drive their decision)? 

We are looking to buy almost turnkey rentals; however, we are struggling with neighborhoods to by in. Has anyone invested in this city and if so what metrics are you using to determine which neighborhoods to invest in (ie areas 1-6, North Columbus vs East Columbus). Also, has anyone been able to get an area map that maps out the neighborhoods in Columbus, GA? I am interested in acquiring that information after reading the book "HOLD: How to Find, Buy, and Rent Houses for Wealth".

I was wondering what people used as a due diligence checklist? Is anyone willing to share their format? I am getting ready to submit my first offer on a duplex and we are asking for a 15 day due diligence period in which I want to make sure everything is in order. 

We are currently running numbers on what the best return would be on a mortgage in today's market. Our plan is to pay off the mortgage with all of the extra cash flow (we have the CapEx, Vacancy, PM, and repairs set aside already) and hope to get the best return long term. To me this looks like paying the least amount of interest possible. The question is would it be better to get a 30 year mortgage and payoff a larger principle ($600 extra each month) or get a 15 year mortgage and payoff the the extra principle on a lower interest rate ($350 extra each month)? With all of the cash flow paying the mortgage off, the loan would be paid off in the same amount of time. Thoughts?

My wife and I are considering investing in Auburn, AL and renting out by the room. This was before COVID-19 started and changed everything. Now I look at investing in a college town where the university drives the economy as a high-risk high-reward venture. It is still in our wheelhouse of possibilities but I wanted to get more input from those more experienced than I. The town seems to be over-saturated with college housing with enrollment remaining flat; however, the appreciation in the area is great. Would anyone consider investing in college towns at this moment? Do you think market prices will drop in those areas if they college is closed in the fall or the pandemic continues and foreclosures are not allowed and/or vacancy is high? Do you see colleges changing completely after this pandemic (ie Cal States are shutting down for the fall)? Side note: our rent by the room strategy is hard to get across to real estate agents and property managers. Has anyone else ran into this problem?

What is the most important metric that is used by military families when deciding which house to rent off-post: school districts, rental price, neighborhood presentation (ie crime rate and neighborhood safety)? With the turnover from military families occurring every 2-3 years it is difficult to determine what they are looking for in that short amount of time.

Columbus, GA is the area my wife and I have decided to start our real estate journey. We are looking to buy almost turnkey rentals; however, we are struggling with neighborhoods to by in. Has anyone invested in this city and if so what metrics are you using to determine which neighborhoods to invest in (ie areas 1-6, North Columbus vs East Columbus). Also, has anyone been able to get an area map that maps out the neighborhoods in Columbus, GA? I am interested in acquiring that information after reading the book "HOLD: How to Find, Buy, and Rent Houses for Wealth". It has been difficult to find that information online. 

My wife and I are new to the RE space and looking to purchase our first home. We live in Columbus, GA and are wanting to begin our journey locally. After performing a market analysis of the area we have determined that is is possible to create a portfolio that will generate long term wealth by increasing our net worth over time. We do not NEED the money and we will be putting all profits back into the home. Our strategy is to purchase Buy and Hold properties that require minimal repairs. Essentially turnkey properties. We want to provide Section 8 homes for families that are truly trying to improve their situation; however, we are struggling with which neighborhoods to buy in. Is it to much of a risk to buy in low income neighborhoods or is it better to wait and buy a more expensive home with less return in a better neighborhood? One thing to note about Columbus, GA is that there is not much appreciation in this area and we don't figure that into our numbers. We use ROI and ROE to determine our returns. Thank you in advance for the help.