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All Forum Posts by: Amanda Roderick

Amanda Roderick has started 5 posts and replied 105 times.

Post: Advice real estate Columbus OH

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

Hi @Stacie Elizabeth - First of all, your renovation is right in line with what all the other flippers are doing, so from here (online), it looks like what buyers are looking for these days! Your agent & broker are right, the market has definitely slowed a bit recently. The things, I think, that are hurting you right now is the fact that the duplex-turned-condo trend isn't happening as much in Merion Village (yet?), whereas it's becoming much more common in places like OTE. In fact, your property is the only condo on the market in the immediate area from High to Parsons and Frebis to Morrill. Also, while Merion Village is still a hot neighborhood and you are technically within the boundary, you're at the far south & east edge. Other things that stand out to me that might be hurting you is the lack of curb appeal - the front porches aren't covered and there's not landscaping (though the grass in the photos is so green, which looks great!).  Also, while I know this is technically a condo, I can't help but compare it to other duplexes that are selling in the area right now - the current average on the market right now in that immediate area is $136,600 and for ones in contract, the average increases to close to $225k. Buying both sides of your building would cost the buyer $335k. My opinion is that it is a bit overpriced -- but I have to admit I think the same thing about a lot of properties that I see go into contract these days, so it's quite possible the right buyer just hasn't seen it yet! Best of luck selling it, I know the waiting game can be stressful! 

Post: Stop working for the man and start working for yourself

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

Hi Tiffany! 

I can relate to your question -- it's the same one I thought about for a long time before making the leap early this year to leave my W2. I'm also in Columbus, and my husband & I have never flipped anything but we are into BRRRing. We started in 2014 and have 10 units now. We renovated our first property, a small 4-unit in Olde Towne East, on our own - it was a very slow process because we both work full time plus have an old dog a home that needs at least one of us to be home every evening. :) It was a great experience, though, and I definitely feel like there is a part of "us" in that building! 

I ultimately made the decision to leave my cubicle job early this year to become a real estate agent. It has been an amazing experience for me so far! I am a "people person" and the 8-5 desk life didn't suit me well, even though my job was interesting and in the real estate industry (real estate market feasibility analysis). 

I'd be happy to meet up for coffee or lunch sometime to talk about pros and cons if you'd like. Feel free to reach out if so! Either way, best of luck with everything!

Amanda 

Post: New Member to Columbus, OH area looking for guidance

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

Welcome to Columbus @Adam Jutte and @Randa Lake! I've lived in central Ohio for nearly 20 years and love it here. So much so that I recently became a Certified Travel Ambassador (CTA™) to be able to better help those who are visiting or relocating here. :) Feel free to reach out if you have any questions about living in central Ohio!  

My husband & I bought our first investment in 2014 (4-unit in Olde Towne East) and I became a real estate agent early this year so that I can help others buy & sell homes (formerly in the real estate market feasibility industry). Best of luck settling in and also starting to build your investment portfolio! Our city has a higher percentage of renters than homeowners so it's a great place to have rentals! 

Post: Newbie Investor in Columbus, OH looking for buy & hold rentals

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

@Dale E. Matheny :) Typically a buyer should be working with only one Realtor and some agents use buyer agreement forms to ensure that if you buy a property, you will use them as your agent. 

But it definitely helps when you find a Realtor who "gets" your goals and the kind of property you're looking for. If you do decide to make a change, there are a number of investor-friendly agents on BP who serve central Ohio! :)

Post: Newbie Investor in Columbus, OH looking for buy & hold rentals

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

@Dale E. Matheny I'm definitely not trying to "steal" another Realtor's client! :) Thanks for clarifying the #s. 

Good luck finding the right investor-occupant property! :) 

Post: Newbie Investor in Columbus, OH looking for buy & hold rentals

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

Hello @Dale E. Matheny, welcome to BP! I've been an investor in central OH since 2014 and a real estate agent since this April. I'd be happy to help if you're looking to work with an agent. Are you looking in any certain part of the city? 

Just curious, what are these different license numbers you have listed? 

Welcome again & best of luck with your central Ohio investments! 

Amanda

Post: LSF9 Master Participation Trust

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

@Bernard Chouinard Unfortunately not really. I was able to successfully track down a local Caliber rep and even met up with her for coffee. She looked into the property a bit more and told me that she found that Caliber did not own the property. She was able to make contact with someone at US Bank who told her that the property was not and will not be for sale anytime soon and that it was placed into management and was a rental. I drive by this property multiple times a day and it is definitely not being rented. I'm not sure I believe the story. The woman I met with was very nice, came across as sincere and I don't believe she was misleading me intentionally ... it just seems a bit fishy that they said "it was a rental" when it isn't. Nor does there appear to be any work happening to the property to prepare it for a renter. 

I was just about to report the property to the city for not maintaining the lawn when I noticed it had been mowed, so someone is keeping up with that at least. I basically spent so much time on it that I had to give it up! It's a shame because I am nearly certain it is one of the oldest homes in the neighborhood and a focal point when you drive into the area so it's hard to see it sit empty! 

If anyone has any ideas of how I can proceed to follow up, I am all ears. I hate to see a nice home fall apart due to neglect when I know there are so many people who would love to make it their home. We've had 86 months of consecutive inventory reduction in central Ohio so available homes are severely lacking right now!   

Post: Property Management Compensation

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

In Ohio you have to have a broker's license in order to run a property management company that manages other people's properties. And allegedly the Division of Real Estate is cracking down on unlicensed companies. Just FYI ... 

Post: New Member Introduction - Columbus, OH - Hello Everyone!

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

Welcome to central Ohio, @Patrick Bruske! I love meeting new people to talk about Columbus & real estate. I've lived here nearly 20 years and love it! I'd be happy to meet up for coffee sometime - I'm in SE Columbus so Lancaster is just down the road. There are a couple of easy places to meet up in Canal Winchester, which is in the middle. Let me know if you're interested and what/when works best for you!  

Post: Prospecting advice for new agents focusing on Multifamily invest

Amanda RoderickPosted
  • Rental Property Investor
  • Columbus, OH
  • Posts 109
  • Votes 97

Hi Karl, 

Congrats on your new move to get a license! Just to clarify your initial post, are you looking to invest in multifamily or are you targeting multifamily investors as clients? 

I'm in Columbus (and love it here!). My husband & I started investing in 2014 with the purchase of a 4-unit building and the same year I started working in the commercial real estate market feasibility field. I left that role as an analyst this past February and have since gotten my real estate license. On the investment side, we purchased 3 duplexes last year so we're up to 10 units now. We've never sold anything so all of our purchases have been to hold & rent. 

I'd be happy to talk with you about things in Columbus if you like, feel free to reach out. 

Best of luck with your transition!

Amanda