All Forum Posts by: Michael M.

Hey BP Fam!

So this is another one I'm going to be submitting an offer on for my first out of state investment in Columbus, Ohio so here are the numbers!

Info on property: From listing photos, it appears to be very renovated on the inside. 

Closing cost = assumed 4%

Vacancy = county average of 6%
Property Tax Pulled from Redfin tax history report section. 

 Rents = Confirmed with agent the values 

Any advise / comments are much appreciated!

@Sam Alomari Typically do you have a small vacancy factor for SFH (ie: 5%)? Also in regards to ARV / repairs, I just try to be as conservative as I can with this; my assumption is the 5k in repairs will go to paint touch up and minor repairs throughout the building, but I'll definetly consider what you suggested.

@Derek Kirkwood I actually already took into account the P&I under the expenses column. The NOI is the difference between the projected monthly rent and total monthly expenses.

@Andrew Schwartz Thanks for the advise; I plan on having a contingency offer with inspection / review of tenants and home. 

@Jason Bott Thanks for the clarification,  Is that typically the value you use for multi / duplex? 

@James Canoy I just used excel with a bunch of formulas 

@Chad Drewson Did not include vacancy but will add for that, the units are already occupied per the REA. Also 8% are what PMs charge within Clark County

Hi All, So I think I found a duplex to invest in Clark County, Ohio (My first investment...and out of state to add to it!).

Just wanted to get everyone's thoughts and opinions prior to writing the offer. Please let me know if you think I'm missing something. I'm a little nervous (out of state investing part) yet excited (because it'll be potentially my first investment). All advise is appreciated!

Thanks!

Assumptions: 


Closing Cost: Assumed 4%

Property Tax was estimated at $2700~ on Redfin / Trulia, just pampered it a bit to be conservative just in case with whats going on.

Repairs: $5,000 - Based off photos, house looks well maintained; just a reserve amount for any touch up work needed

Interest Rate - Used 5.125% since it'll be an income property 

Rents - Prices are on par with Zillow's advertised rent in the surrounding area, verified with local REA. Also, tenant pays all utilities

Hey All,

So I live in southern California but am interested in potentially investing in Columbus, OH / the surrounding areas and with that, I need some help finding the A class team.

Does anyone have recommendations on PM/real estate agents they personally use? 

Thanks!

Hi All. I've read numerous posts on people suggesting certain cities to invest in, but was wondering how do you determine if the city is a good one? Are there certain websites you look at or particular indicators that help? 

Thanks, 

Autodesk Revit is amazing once you know all the ins and outs. I'm not sure what your budget is but if you can afford it and take the time to really understand Revit, it'll pay off.

Its the go to software in my opinion, all the architects  use it on all the projects I've been on. 

http://www.autodesk.com/products/revit-family/subs...

@Eric Oszczypala  Here you go How to Easily Remove Popcorn Ceiling Without a Mess
@Tommy F. This is what your talking about :) 

@Edrin Shamtob Welcome to BP! I'm also in the same situation of being in California with insane home prices. I'd recommend to look further out (2~ hour drive) from your area and going from there.  If you haven't already check out the BiggerPockets Ultimate Beginner's Guide to Real Estate Investing.