All Forum Posts by: Marc Rice

@Dracy Campbell

Residential 1-3 units is taxed around 2.18% of the auditor assessed value while 4+ units is taxed around 2.78% of the auditor assessed value.

Electric and gas is standard paid by tenants. Some leases have water being paid by the owner (billed quarterly), charged back to tenants quarterly, charged back to tenants monthly (with submetering service provided by Guardian), or a flat fee of $15-25/mo/person in exchange for the owner paying the water bill.

@Shopitha Kumar

Your goal should be to offset your housing expenses and to start building equity in that expensive of a market of the Bay Area.

@Nick B.

Hilltop

Franklinton

South Linden

North Linden

Southern Orchards

Hungarian Village

Reeb Hosack

Driving Park

Vassor Village

Whitehall

Eastmoor

Shepherd

I have a neighborhood map of Columbus with baseline cap rates and neighborhood grades that I share with the investors I work with to help them familiarize themselves with the city. If you need that feel free to reach out. 

@JD Mims

You could come to a compromise with the tenant so that you don’t have to pay to have the tenant turnover with repairs/vacancy.

@Natalie Schanne

Buy turnkey/cosmetic rehab multi-units in Columbus, Ohio in B-/C+/C neighborhoods with cap rates 7.5%+. There’s a lot of affordable investments in Columbus and $500k can take you a long ways here.

@Mizy Kalmanson

It’s best to find a good local investor friendly agent in your city and they’ll be able to guide you

@Preeti Sampath

I can also attest to the great results of the Columbus Ohio market

@Joshua Baldovino

There are 3 approaches to an appraisal.

1. Sales Comparison Approach - looking at comparable sales for similar properties

2. Cost Approach - how much it would cost to replace the property

3. Income Approach - uses the revenue your income producing property is creating

Every appraiser uses a combination of the 3, but for most residential 1-4 units they heavily favor the Sales Comparison and Cost Approach. Some commercial lenders may have appraisers more geared towards rental property which could have them rely on the Income Approach more but every appraiser is subject to their own opinion.

@Luka Milicevic

There are great job opportunities, affordable housing, great schools (OSU), professional hockey, a great downtown/short north, easy access to lakes and hiking at hocking hills, and 8 months of winter!

From an investment it’s a great combination of appreciation and cash flow with lots of new developments happening.