All Forum Posts by: Robert Ellis

@Ryan Mainwaring

There will be a FREE meeting next Thursday (October 20th) for experienced and newbie Investors, Landlords, Wholesalers and Flippers at Tommy's Pizza on Dublin-Granville between Sawmill and Riverside. Tommy’s is attached to the western side of Oakland Nursery. The meeting starts at 6:00 PM.

You can arrive at any time but from 6:00 - 6:45 PM they'll have a Q&A which is very helpful for newbies. After that there is usually a featured speaker on an important topic.

There’s typically a good mix of attendees - usually one or more attorneys, a number of agents, many experienced investors, landlords, flippers, rehabbers, contractors, lenders, etc. This will be a very good opportunity for networking and to meet people active on BP (and those who don't use BP).

The meeting will end around 9 PM but the room will be available for networking till about 10. As stated above, except for any food or drink you happen to order there is no charge to attend. Attendance is usually around 40 - 55. 

Anybody know what the multi-family cap rate is in Columbus, OH?

Hi BP Columbus, OH community. I'm in the process of buying my first duplex in the German Village/Merion Village area (2 blocks south of Schiller) and am looking for any trade secrets people are willing to share, insight, ideas & referrals.

I plan on renting out one side while I live in the other. The side that is getting the upgrades is where I plan on living for about 2 years or until I save up for another down payment. The long term goal is to buy and hold so I'm looking for recommendations that are good for both an owner and future renter.

Looking for help with the following:

1. A good place around town to buy quality (budget friendly) flooring. I'm leaning towards laminate on the first floor but am open to suggestions. Does anyone have experience as to what works best in rentals? I'm interested in understanding what type of flooring people think is best and why.

- For the 2nd & 3rd floor, I'm leaning towards carpet but could potentially refinish the existing wood floors or put laminate in them as well. Does anyone have a recommendation as to why I would go with one option over another? The wood floors are currently not in great condition. Lots of gaps and some cupping is visible.

2. A place to get kitchen cabinets. Not looking for anything custom. Just some decent cabinets that are durable and a look that makes the place feel like home. Would it be a good idea to look at Craig's list and refinish cabinets I can buy on the cheap?

3. Quality interior painters. The house is in need of a full paint job on the inside. It will be completely empty with the floors being replaced so I hope to make this a quick process.

4. Lastly, I'm considering adding a bathroom. With this being said, would turning a unit from a 2bed/1bath to a 2bed/2bath be worth it in the long term? Does it have a big impact on rent or make the rental much more desirable? Any idea what a bathroom addition would cost? The space is roughly 8'x8' Again, would look to install just the basics.

(Note: The main stack goes through the corner of this room which I am guessing would make a bathroom addition much more cost efficient)

Thanks for reading and I look forward to seeing what people have to say.

- Chris

Hey BP!

I'm looking into Ohio for my next multifamily rental property. It's cheaper than PHX, but I'm concerned about taxes. It looks like property tax alone can take $100/mo off my cash flow compared to a more friendly state. Thoughts?

I'm also torn between the three big cities, and I'm leaning toward Cleveland (on the lake!). Is there a consensus on the standout favorite for growth in the next 5 years?

I'm talking with a data/web guy to put together a private app to visualize population and job growth data. Kind of a 'REI-consider-this-place' web app. Please also let me know if there is something else I should put in there!

Hello, I am a relatively new investor and new to bigger pockets!

I just wanted to introduce myself to the community and share a quick flip success story.

My main goal is to develop a buy/hold/rent strategy. This flip happened because of a rookie mistake. I was unaware that the condo association had a "no rental" policy.

After finding this out I decided to sell after two years of ownership to avoid paying capital gains and to reinvest my profits into a new condo that I could eventually rent.

I am currently working on a condo in the Brewery District and will post photos when that is completed.

I am always looking for opportunities and new connections so please reach out!

Here are the numbers:

Purchase Price: $143,000

% Down: 10%

Rehab Cost: $10,000 (Did work myself)

Resell Price: $205,000 ( 24 months later, record price for the building)

Profit after Realtor Fees: $40,000

After Photos are below: