All Forum Posts by: Austin Steed

 When there's a deal I'm looking to get info on this is my process: 

- Franklin auditor 

- True people search 

- Once you have a good contact just see if they're open to an offer and go from there. I've seen sellers appreciate if you are the end consumer, so an arms length transaction.

I see people all the time asking for seller financing but you have to make sure that this makes sense for the seller too, not just for yourself. A good pitch that I've use for seller financing is the tax exposure that the seller might be looking to avoid. 

At the end of the day just try and provide value to people and things seem to fall into place. Best of luck with your Columbus investing!

Welcome to BP! 

I've been investing in Columbus for just under 5 years now. I'm mostly doing BRRR's, in my opinion if I'm doing all that work I'd rather hold on to it.

Nonetheless always willing to meet up with new investors here, I'll send you a pm. 

 100s in Columbus. 1000s in midwest :)

@Robin Panzera I'll send a couple you're way. 

Got a guy that has a good product for STR in Columbus. Can qualify solely on STR ability to cover PITI and can close in business name.

All the best!

 I'm with @James Wise here. 

Depends on what you are looking for and your hold time. If you are looking to hold for the long hall I would say Columbus as appreciation seems to have a bright future. 

A long vacancy with the right tenant is better than a short vacancy with the wrong one. All of my rentals are in Columbus but this would apply across the board. 

Also I've noticed anyone that needs to move in in less than a months notice this is a red flag. So extra due diligence should be taken. 

Often my vacancies are low.. 4 months before lease expires ask if they are staying. If not then I start the marketing process and give myself a week for a turn

Welcome to BP!

First things first make, sure it cashflows.

I have equity in some of my deals in Columbus OH. As much as I'd like to tap into it and buy more deals at the end of the day I like each property to be cash flow positive. 

If we ever to experience a down turn, in my opinion the worst case scenario is you're forced into an exit during that time. A negative cash flowing property can do that, a positive one can survive. 

I can send you a couple in Columbus OH! 

Recommendation.. do a sewer scope. Just had one go out on one of my investments :)

@Ronald Meza

After doing 7 BRRRs in Columbus OH on any major renovation I’ve always been glad or wished I had pulled permits.

Reasoning:

- work is inspected by the city which gives extra assurance things are done correctly

- tax abetments (this may be a Columbus thing only though)

- less risk, locally if the city sees you doing a renovation they can issue a stop work order

- ease of mind, when you’re all said and done you know your asset was fully inspected by the city. For the most part they do this for safety. Now you’ll have a safe and sound home for tenants

Always glad when I do things right the first time! Best of luck with your renovations

@Colyn Blackford

Would love to connect on this. Since 2019 I’ve been house having a duplex once every year.

VA and FHA loans might not like me as much now, but for your first one always an easier sell to get you in somewhere!