All Forum Posts by: Sean Grabow

We don't deal with multifamilies here (we source/fix/flip single families for investors), but I recommend you take your time getting to know the market and building a team!

Multifamilies are a lot of work to manage, and if you find an underperforming asset that needs to be fixed, well - good contractors are in very short supply right now, and will need to be managed locally! It's possible - but I hope I can at least give you the challenges right now!

Best of luck,

-Sean

2 Votes

Columbus, Ohio

@Keeton Byerly

Hey Keeton, congratulations on taking your first steps!

The median home price in Columbus is around $150k, so when you're close to that range, you'll get the bread and butter type neighborhoods, that have a mix of owner occupied and rentals. North Linden is an area in your price range (43227), and we find there's more activity there than Whitehall. We actually don't do many deals in 43207.

While you need to be comfortable in the area that you're buying, a deal is a deal no matter what. That mean's if you can find the right property, under-market (whether through patience or working through a wholesaler), that'll be just as (if not more) important than the neighborhood itself.

Hope that helps, send me a message if I can help out more - and goodluck!

Best,

Sean

1 Vote

@Lemont Williams

Hey Lemont - we advise our sellers who wants to maximize their sale price (ie., where there would be the small margin you talked about) to list with an agent (maybe like you?) or try for sale by owner (Craigslist)...We'll explain that there will be more fees involved, and that it will take much longer to sell (especially in this market, compared to a few months ago) - but that if they're not in a rush of any kind, that it's usually their best option...

In our experience, the best thing is just to give people real advice, and if you can really help them out - tell them that.

Small margins are also tough for rehabbers, who are taking on risks and spending lots of time and money on the rehab.

Best,

Sean

1 Vote

@Stacie Elizabeth

Hey Stacie - a little late, but sounds like you've figured out a Plan B (which is always really good to have!)

We've seen that our flips / inventory are staying on market longer, and it's not the sellers market it was a few months ago, especially in the more expensive price points.

But if you have a few good exit options - that should really help with the risk!

Goodluck, and send me a PM if I can help out anymore!

Best,

Sean

0 Votes

Columbus, Ohio