All Forum Posts by: Marc Rice

@Bradley Snyder

Great idea Bradley. I’m an investor, agent, and own an Airbnb management company that works with clients to maximize their returns above market rent.

If you need help with sourcing, stabilizing, and maximizing your multi-family feel free to reach out. We've been seeing great results with our STR business throughout everything!

@Ronald Coriolan

I’d look in your backyard where you have connections and an edge before you expand to other markets. You’d be surprised how many good markets are probably within 1 hr of your home.

@Austin Steed

Congrats Austin! Great successful BRRRR

@Jonathan Paul Shortt

Finish it and rent it out. Even if you leave cash left in the deal but it’s a solid rehabbed rental it’s not the end of the world

@Andrew Z.

Make sure you run your own numbers, vet your own independent inspectors and contractors.

You’re going to pay top dollar for turnkey but you’ll save on time. You’ll want a good agent, property manager, contractor, and lender to work with locally.

Columbus Ohio is solid for appreciation but a little tighter on cash flow relative to Cleveland which is more cash flow and less appreciation

@Jeffrey Morel

Prices could rise if a change in president happens and taxes are increased. If capital gains increases, 1031 goes away, property taxes go up etc - they all punish the owner/landlord. In order for that owner/landlord to receive similar proceeds as they would have seen a few months prior, they’ll price their sale accordingly. Not to mention how rent will increase for the lower/middle class to offset the new increase in taxes/expenses.

@Joe Chillinsky

Similar to water and property taxes, you'll want to cover those and pass it on to tenant in form of rent to mitigate liens and late payments. But I'm sure some landlords could have tenant pay HOA too if they trust them to not default...

@Chris Wolf

ProCheck Engineering in Columbus is who we use. Just make sure they’re a licensed PE and have ample experience in the industry.

In terms of what to ask them when evaluating the foundation, I’d ask them for an inspection of the integrity of it and let them point out anything they see.

Have only had to deal with one once, I recommend getting a basement contractors second opinion as well, maybe a realtor too because it could affect the resale value if there’s 12 Ibeams laid out in a disorderly fashion.

Hello Jim, you sound a lot like my friend Jimmy. Hope I can help!

1. I think a lot of it is based upon trust - think how many calls they get a week saying "Are you looking to sell your property". If you can sound knowledgeable just on the local area of Columbus not necessarily the real estate market I think that will build up enough trust. Talk about how you're a buckeye, name neighborhoods you own property by name and talk about land marks around it ex. I own a few rentals down in southern orchards by nationwide, it's crazy how parsons has changed over the years" vs the out of state cold caller saying "I saw your property located at 123 Parsons Ave". It also helps to have some basic info on the property such as bed/bath count (public info) and the condition of the house (driving by). Dropping any combination of these pieces of LOCAL knowledge will help you stand out. Not just stating "Southern Orchards has on average a 7.241 cap rate on rental property with 9.6748 cash on cash return, are you looking to sell". Just talk to them like you're at a coffee table talking about real estate (which you enjoy) and you'll start to connect with the individual.

2. Find out what their core motivation for selling is and solve that. Its not often about the money.

@Stipe Ba

Liens carry with the property I believe so it would. You could check with the HOA association before purchase?