All Forum Posts by: Ryan Mainwaring
Ryan Mainwaring has started 18 posts and replied 268 times.
Post: Fire wall on duplex Columbus OH
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
@Sonam Gill For our duplex, we did the drawings ourselves and add the Ul 263 to our shared wall between the units. They approved them with no issues.
Side note, adding the UL 263 was pointless because our property has brick in between the shared wall thus it's fire proof and didn't need the UL 263. Best part, a city of columbus civil engineer tried to explain to me how brick is not fire proof..... What about brick fireplaces:)?
Post: Hungarian Village Flip
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
Investment Info:
Single-family residence fix & flip investment in Columbus.
Purchase price: $58,000
Cash invested: $50,000
Sale price: $135,000
Rehabbed kitchen, bathrooms, bedrooms, floor, roofs, fence and porch
What made you interested in investing in this type of deal?
Looking to start small on my first deal, the numbers worked and the area was improving.
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Private money
How did you add value to the deal?
Pulled comps
What was the outcome?
Sold within 5 months
Post: I'm on a quest to find the best Landlord Insurance in Ohio
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
We use broker to get the best rates, the switched us to keystone insurance.
How many properties do you have in ohio?
Post: How has the pandemic affected the central Ohio region?
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
Originally posted by @Robert Ellis:
Originally posted by @Ryan Mainwaring:
Originally posted by @Remington Lyman:
Originally posted by @Drew Lamb:
How have my fellow buckeyes seen the coronavirus affect our market? Do you see any trends relating to our micro-economy? I want to see what everyone in the central Ohio region says about this? I spend most of my study time on houses in northern Columbus and the hocking hills region but really want to hear about Ohio as a whole.
The only negative thing I have noticed in Columbus, Ohio is rentals near the university
What impact have you seen on rentals near Ohio state?
Airbnb has been hit pretty hard in Columbus but occupancy is still around 40% which I hear is better than hotels. My long term rentals have felt no impact. Real estate typically lags the economy by a quarter or so and with the quantitative easing the government is doing aka printing money the real impact of covid19 has not been felt yet.
From the big managers i'm talking to here they are 70% plus occupied right now. i'm not sure who is 40% occupied but no wonder they aren't succeeding in columbus
We are 70% as well with our property manager but with 50% reduced pricing to what we usually get this time of year. The 40% number is Columbus market as whole, I should have clarified that.
Post: How has the pandemic affected the central Ohio region?
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
Originally posted by @Remington Lyman:
Originally posted by @Drew Lamb:
How have my fellow buckeyes seen the coronavirus affect our market? Do you see any trends relating to our micro-economy? I want to see what everyone in the central Ohio region says about this? I spend most of my study time on houses in northern Columbus and the hocking hills region but really want to hear about Ohio as a whole.
The only negative thing I have noticed in Columbus, Ohio is rentals near the university
What impact have you seen on rentals near Ohio state?
Airbnb has been hit pretty hard in Columbus but occupancy is still around 40% which I hear is better than hotels. My long term rentals have felt no impact. Real estate typically lags the economy by a quarter or so and with the quantitative easing the government is doing aka printing money the real impact of covid19 has not been felt yet.
Post: Why is Hard Money Private Lending so difficult right now
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
Originally posted by @Jeff S.:
The four most dangerous words in investing:
This Time It’s Different
Great quote. I thought this article was well written and had some good points on comparing now to 2008 and 1929. I do agree, times are different.
https://www.biggerpockets.com/blog/5-reasons-2020-recession-completely-2008?utm_source=newsletter
Post: Good BRRRR markets for under $80k
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
We love ohio as well and focus on Columbus. All of our projects have been BRRRR
Post: Great Rental Areas in Columbus
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
@Ty Kashmiry When you say quality of renter, what is your criteria?
Post: Floor plan advice... 3-1 or 2-2?
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
Originally posted by @Nick Rutkowski:
@Sonam Gill
Keep it as a 3/1, save yourself money and stress. I think in your scenario you’ll get a better group of tenants renting it out as a single family home. If you’re looking for a greater return, you can rent the house per room to traveling nurses. That’ll get you more bang for your buck.
Love your suggestion on traveling nurses. Have you rented to traveling nurses before? If so, how did you market to them?
Post: Floor plan advice... 3-1 or 2-2?
- Rental Property Investor
- Blacklick, OH
- Posts 286
- Votes 253
Based off the information you provided is your property located near children's hospital? If so, we have had more success with 3 and 1 in that area.