All Forum Posts by: Richelle T.

@Jeff Grover Where in ohio?

I use Bella Real Estate and I'm actually quite pleased with them.

@Andrey Y. I couldn't agree with @Elizabeth Colegrove more! My condo increases the fee for no apparent reason. I would be on cloud 9 if my condo came close to making a reasonable cash flow. From how I see it, condo fees and HOAs such any hope of a decent return out of condos. The lack of control is just icing on the cake. 

@Karen Rittenhouse that was pure gold!!

I personally befriend the neighborhood watch leader. I hired them to do random odd jobs and the like around the property. (Digging those deep holes for new bushes, etc). This gives the leader more pride and a sense of responsibility for the property since they helped make it pretty. I loaded him up with cards and told him to keep us posted on any houses that are vacant. 

This past weekend, I bought him lunch and we went driving around the neighborhood and he pointed out all the "trouble" houses and vacant ones. Some of them are still maintained by the owners so there's no way I would have identified them driving for dollars. 

@Alex Brown  A house that big that rents for that low is a red flag for me. That's a lot of risk. For $18k cash @Joe Villeneuve is right. Having your cash tied up is very expensive and risky. I think recovering your cash as quickly as possible is prudent.

@Jim Herbst The answer is it depends. Personally, I would not (do not) invest in any of them. I think investing is very much a personal decision. 

If you want an appreciation power play that may or may not happen, then I would go Franklinton, Schumacher then Old Towne East (best-worst). This is listed in order of my perception of gentrification still to happen and therefore potential upside. I think Franklinton is a bit of a gamble. If i bought a place there, I would buy it, leave it vacant and sell it when gentrification happened. As a petite lady, I do not feel comfortable there. With that in mind, I would not want to sign up for the management headache or the apprehension of visiting the area. Everyone's threshold is different so you may have a different perspective. I think most of the upside in both Schumach and Old Towne have been realized already. 

If you want steady rental income with no headaches for 10 years, then I would rank them Schumacher, Old Towne East then Franklinton (best-worst). I think the German Village influence on Schumacher makes it stable and more desirable than the others. Old Towne East is sort of an island of gentrification. Now I don't think you would make any money because the pries are so high. Franklinton is going to be a management nightmare (please note, this is my perception only).

If we are ranking purely on cash on cash returns, Franklinton wins, no contest. 

@Christopher Fougere If you're looking for boots on the ground here in the center of the country, let me know! I'm sure there are plenty of us here who would be open to partnering to close more deals. 

2% is alive and well in Columbus in the nice, working class not scary and sketchy areas. 

Congratulations @Glenn McCrorey You are an inspiration!!

@Nick Hughes Welcome to the site! I'm interested in self storage as well. Have you purchased a facility already or still thinking about it? I will say that I'm actively curious about commercial real estate in general. Look forward to seeing you around the site!