All Forum Posts by: Justin Lemaster

Welcome to BP Carlos, this is a great place to learn about investment properties, property management and everything in between! Columbus is a great market for investment property!

Happy to help Alicia! 

Thomas, myself and our company specialize in property investment acquisition as well as property management. What kind of questions do have related to the Columbus, OH market? We have found the multi family market is very competitive.

Good afternoon BP Members! I have multiple clients searching for investment property in Columbus, Ohio. The problem? Overpriced listings and low inventory!! The market here is very, very competitive, so finding the property that makes sense has become more and more difficult. With that said, what are some tactics some of you have used to work on locating properties that aren't on the market yet? This is more geared towards the multi family properties.

Not to mention, retaining a tenant will make the investor happier, and ultimately that investor will want to invest more in that property management company. Or recommend another person invest in that company. In the end that is what will make the property manager more profitable and reputable. 

Bryan,

I agree that many management companies out in this world today are wanting that turn over as that is where they make the most $. With that being said, you'll also find companies (such as the one I work for) that are honest people, we turn down many applicants that pose a potential threat based on the rental history. Our main focus (and should be everyones) is tenant retention. The broker is an investor himself so it helps to have the same experience as the client you are working with. Of course, you can screen a tenant thoroughly and still end up with problems such as eviction, collection, damage etc. 

I would suggest anyone looking for a property manager, to do a lot of research on the company before signing a contract. I could post a whole new thread about the horrors of a bad property management company, as I have had the unfortunate opportunity to work for a few in the past.

Ultimately, a large deciding factor is the area of the property for which you manage. It isn't to say that a bad neighborhood will ALWAYS bring a BAD tenant; but rather the process could take longer to find the most qualified tenant for that area, which again could cost you money by having your property sit vacant longer. Not to mention the lack of care I've seen people put into renting a property in a less desirable area.

I am just seeing the investment isn't always as great as it seems in the long run.