All Forum Posts by: Art Mimnaugh

@Lalita Mitchell I would reach out to @Robert Ellis and his team.   Am a fellow CA investor and he has help me bring my portfolio up to 16 units in Columbus.  Can share a few other contacts around PM’s to talk to and some feedback on a couple of lawyers.

Cheers,

Art

@Grant Speer I am also an out of state investor and have had good experience with @Robert Ellis and his team in the area.

Cheers,

Art

@Michael M. it is, if you go to the Auditors site, enter the property address and on the left side you will see Value History and it will give you the 2017 value.    The 2017 value is actually for taxes next year but you can see value change from current tax year.

@Michael M. welcome to Columbus which is becoming the land of CA investors.   A couple of points with your numbers first is on Property Tax you should really check the Franklin County’s auditor site for the latest assement values.   If this is property I think it is just checked and taxes will go up 25% this year based on new appraised value.   The other point is on property managment for a duplex 8% sounds about right but that doesn’t cover the lease up fee which is anywhere from half to a full months rent. From a budget standpoint I use 10%.

Cheers,

Art 

@Dallas H. they are getting hard but still out there at least for C. In contract on one now at 20% CoC. Ping me and happy to talk through the details.

Cheers,

Art

@Arley Collado Real Estate like many other areas is constantly changing and we are always all learning.   Spend some time listening to the podcasts, and reading but would really recommend networking and meeting with investors in the markets you are looking at.    You can only do so much behind a screen and really need to get feet on the ground.   So many properties numbers look great until to realize the impact of being one street to far and have triple the water costs.   As an out of state investor myself getting a solid team together is important but at the same time spending time yourself in those cities to understand the nuances of each of the areas as well as your risk tolerance is also going to be important.   I am happy to discuss with you my experience as a CA investor owning multifamiles in the Columbus market.   I am still relatively new at this so I can relate to many of the feelings I am sure you are going through at the moment.   PM me and happy to chat.

Cheers,

ART 

@Mike McCarthy where you able to get the Classes setup with Online version, and if not how did you go about defining each of your properties/units?

Cheers,
ART

You have P/L or OM available for this?

Cheers,
ART

@Angela Yan I am actually in contract on 12 units and was just there interviewing some PM's earlier this week.   I can give you some of my thoughts with caveat that I am also just getting started in area.   PM me and we should exchange notes given we are also both in Bay Area.

Cheers,

Art

All,

Came across this and not really in my market but thought I would pass on for others where this may fit in your portfolio.   I don't have any other details so would encourage you to work with the broker listed on the attach.   I have no affiliation to this property just from numbers looks interesting.

Details HERE

Cheers,
ART