All Forum Posts by: Peter Lohmann

Excellent post Justin. Well said.

As to your zip code question, our philosophy at Panzera Realty is that we encourage our investors to buy in school zone zip codes for tenant longevity and property appreciation issues, among other reasons (we want our investors to stay away from C & D properties). Most of the zip codes around the larger suburbs are good: i.e., Dublin (43017, 43016), Westerville (43081, 43082), Worthington (43085), Hilliard (43026), Upper Arlington (43220, 43221), Grandview (43212), to name a few.

This is great advice. Panzera will do a great job for you.

So, you're looking for a discounted property at the right price, in a good neighborhood, and you want us to help you find it? No problem! :)

Buy with extreme caution here in Columbus. Out-of-state investors are paying silly prices for just about anything and everything. There's a reason the local RE investors aren't buying that stuff...

No I am not.

@Joshua Smith The logic behind it is that there is not enough rent income to cover the expenses and leave a profit. There are many many posts on this forum about avoiding 30k-40k dogs. 

I have very high levels of confidence in Columbus near and long term economic future. Just not in bad neighborhoods.

Interesting numbers. A multi-year run will be illustrative. Capex...

It's not a good time to buy residential investment properties in Columbus. Too much homeowner-interest driving up SF prices, and too much out-of-state and international interest in multifamily driving down cap rates. I recommend everyone here hold tight for a few years. And whatever you do, don't buy anything under 40k/unit. You will lose money in the long run. It's all ****. Talk to people who have been operating here for 5+ years. They will confirm.

Despite all the PM bashing you hear on BP, there are professionals out there that will manage your rental better than you and possibly increase your ROI or cash flow AFTER you pay their fees!

Yep.

If you aren't making a profit with a PM, then you paid too much for the house.  

Yep.

That said, I recommend you delay getting a PM until you can't take it anymore. It will give you an understanding and appreciation for what they do when you finally get one. Quality PM is going to cost you around $100 to $150/mo per unit all-in (mgmt fees, leasing fees, markups, etc etc). Beware those offering very low management fees. It's not sustainable and they are sacrificing something. It's like buying cheap tools - sure, they'll work. For a while. But they will break when you're relying on them most.

Hey Chris - you might try hitting up @David Panzera - we don't manage waterfront properties (just standard SF/MF residential in and around Columbus), but David might, and if not he'll surely know someone who does.