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Updated about 3 years ago on . Most recent reply

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Uri Katriel
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Columbus, OH flip for beginner.

Uri Katriel
Posted



HI, I'm a new wannabe investor from abroad, due to low budget I have started to look and analyze opportunities in Columbus, Ohio metro.
i find estate that does not publish on zillow (i call that "off market" ;) ) at a really low price, but the house condition is bad, and It should pass a deep rehab..this house in good suburb, and the meaning ARV of the house in this area is between 131-188K (it's depend on the analyze method), the house offered in the for 60K and i sure it's can be decrease - the problem is that i dont know and dont have the tools to estimate the rehab expenses. the rent estimate is 1500$.
what do you think? What is the next step?maybe that kind of beginning is to harsh from aboard, and maybe should i transfer this opportunity to a local investor will glad to

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Remington Lyman
#2 Multi-Family and Apartment Investing Contributor
  • Real Estate Agent
  • Columbus, OH
6,554
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Remington Lyman
#2 Multi-Family and Apartment Investing Contributor
  • Real Estate Agent
  • Columbus, OH
Replied
Originally posted by @Uri Katriel:



HI, I'm a new wannabe investor from abroad, due to low budget I have started to look and analyze opportunities in Columbus, Ohio metro.
i find estate that does not publish on zillow (i call that "off market" ;) ) at a really low price, but the house condition is bad, and It should pass a deep rehab..this house in good suburb, and the meaning ARV of the house in this area is between 131-188K (it's depend on the analyze method), the house offered in the for 60K and i sure it's can be decrease - the problem is that i dont know and dont have the tools to estimate the rehab expenses. the rent estimate is 1500$.
what do you think? What is the next step?maybe that kind of beginning is to harsh from aboard, and maybe should i transfer this opportunity to a local investor will glad to

 If you are a new investor to Columbus, Ohio I would recommend that you steer clear of major rehabs like this. You should start with a more turnkey property and meet some contractors by calling them out for minor maintenance requests. Then after you have a solid lineup of subcontractors, tackle bigger projects like this.

  • Remington Lyman
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Reafco
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