All Forum Posts by: Austin Delk

 Thanks Bruce for the thoughtful response. Over the next five years the plan is to manage my relatives rentals along with my own which would be 10-15 units total. For this, I just need to hold my license somewhere and I can do the PM activities entirely separate from the brokerage. Do you ever see that scenario play out and work at a brokerage? Thank you!

Thank you for the insight, I previously hadn't thought of the E&O insurance being that much more haha. I commented below on James post as a follow up. If you have any thoughts about my follow up I would appreciate it. Thanks!

Thank you for the insight James. The E&O insurance would turn off many brokerages which makes sense. Is it possible to have a RE brokerage hold my license and have my PM company be something totally separate from the brokerage so they wouldn't be liable? My understanding is that a property manager has to have a RE license. So if I just hold my RE license at a brokerage I can do my separate venture with PM. I know that is slightly different than the question I initially asked with having a brokerage help with the PM company. Thank you for the help!

Hello. I am done with the RE courses and need to take the exam to get my license. The reason I am getting my license is to start a Property Management Company. 

My question for the BP community is what brokerages in Columbus would hold my license and allow me to do a PM company on my own? I don’t intend on buying/selling RE besides my own. Any direction would be appreciated. Thank you!

Hey Dustin, my biggest piece of advice would be to create a separate bank account for all rental activity (rent income/expenses) so you don't get that mixed in your personal finances. This will help your CPA out a lot and will CYA in the odd chance you get audited down the road. 

 Hey Calvin, your name sounded familiar then I read your message haha Go Devils! It is cool to see another person from your hometown investing in similar markets. Thank you for your comment and insight about Delaware. I need to some more drive around the neighborhoods up there to get a better feel for the area. Thanks for connecting!

Other areas I am analyzing are West Jefferson/Lake Darby, Marysville, and Delaware which all seem a more affordable than about everywhere in the 270 belt. 

I have family in Marysville and Delaware and in Dayton so that is why I am more interested in these areas. Aka I don’t have much desire to buy something SE of town since my long term plans are to be northwest of Columbus.

Hello BP! Does anyone invest in the Lincoln Village area, specifically south of I70 and west of 270? I have a rental in Hilliard and it made sense to purchase when interest rates were so low but it is difficult now to find a deal that cash flows without flipping. So my thought is to move to a cheaper area code and I want to know peoples opinions about the area as the homes are generally a little cheaper. do you have much success or is there another area you are investing in that is similar but in a different area of the city? 

Also, i know interest rates will change so that isn't my only factor when considering where to buy the next rental. It is just rough seeing a SFH in Hilliard around $340k and then just a little bit south they sell for $250k and I think it is a B- neighborhood but I need to do a little more research

Again thank you everyone in advance and I am looking forward to the next RE meet up. I missed the last one due to a tax deadline I had to work late for.