All Forum Posts by: Benjamin Vail

I have started and am running a new service in my company for helping property owners and landlords take advantage of the short-term rental phenomena! I am a broker, and investor myself, and a year ago I decided this Airbnb thing is no-joke, and I started a new company called Housepitality. So now I manage 6+ houses full time on Airbnb, and am adding more as we speak. These houses are achieving a 94%+ occupancy rate, and we are bringing in 3X - 4X the rates of what long-term rentals would achieve. Some of these are houses we own, some we are managing for other clients. We have a team of cleaning crews, and managers, and we are looking to expand!

We are looking for investors who wan to own an "Airbnb" or a short term rental property. We will help you find the property that will make the most money, and help you with set-up and management of the unit. We can offer as little as consulting, or as much as full 

If you have a property in Columbus OH, and are interested in seeing what we can do for you just send me a message. 

Hi Karla, I am agent that fits exactly what you are describing. I have many investor clients through the years, and then I became a broker and started my own company. I now specialize in helping investors find the best deals in Columbus. I also have a property Managment company, and developed a one-stop-shop for my investor clients. I am an investor myself every, so it something I love helping others with. Let me know if you are interested in talking about it sometime. Thanks! -Benjamin

I have been looking for single-family investments in East Franklinton for several years now. There have been very few ever come on the market that haven't been brought up by larger entities in that area.  There have been a few closer to the hospital and west from there. I still think those areas are great investments also. 

 I have some investors buying in old town east, there are definitely some inflated properties there but also some that are still going to increase in value over the next couple years in my opinion. 

 There are other neighborhoods that I would also draw your attention to. Southern Orchards is seeing a lot of investment, old Oaks, and milo Grogan.  I have been searching these areas for my investors a lot over the last year or so. There are some very exciting things happening in these three neighborhoods. 

 If you would like to discuss these more I would be happy to help. 

@John Horner I am simply against wholesalers who don't actually purchase the property, but flip the contract. Especially if they don't disclose that to the seller they are negotiating with, that they never plan on purchasing the property. That is what is illegal. From what you describe that you do, I am in favor of. I made this post because I believe some investors are getting involved in this illegal form of wholesaling, and don't know that they are breaking the law. Keep up the good work! 

Full disclosure: I am a licensed real estate broker in Ohio. I am also an investor. I have done lots of research on the practice of wholesaling. I must say in my opinion this practice (in most forms) is at a minimum shady, and at a maximum an illegal way to screw over an un-educated home owner. I am putting this information out there because I don't think most wholesalers understand that they are breaking the law. Though most of them are profiting, very few are ever getting caught. Now that I have your attention, let me explain.

I just read this article that was put out by the Ohio Association of Realtors (so consider the source). It has really made me re-think the wholesaling practice that I see lots of investors doing. Though most unlicensed investors probably hate the licensing laws, they are LAWS, and practicing real estate without a license is illegal. In Ohio it is illegal for an individual to Sell, exchange, purchase, or negotiate the sale, exchange, purchase, of any real estate for another, for a fee, without first obtaining a real estate license. That means if you are not a principal in the transaction, you can not negotiate, sell, or market real estate and collect a fee. So signing a contract to purchase real estate from someone, and then marketing that contract to another person for more money is illegal unless you have a license. If you have a license, it is also illegal, because you are not acting in the clients best interest, you are acting in your own. If you know you can sell the property for more money to someone else, then you are acting outside of the cannons of ethics for licensed real estate agents or brokers. 

From what I see in my market in Columbus Ohio, most wholesalers work outside the laws, and run the risk of being caught, though unfortunately most don't actually get caught. It is my stance that you should obtain a license, and or practice your investing business within the laws. If you must operate outside the laws to profit, there is a problem with your business model. Not to mention, I hope you can sleep at night knowing that the only reason you profited was because you took advantage of some poor seller that does not know what is actually happening. 

If you tell someone "I will buy your house fast, for cash" then actually buy their house. If you are actually going to re-sell that contract to buy that house to someone else for a higher price, then do it above the table and disclose that to everyone involved in the deal. I started this article with a full disclosure, because in my opinion that is the only ethical way of doing things. Wholesalers that operate outside the laws in my opinion are worse than used car salesmen selling lemons. When I see bandit signs, and yellow letters that say "We buy houses fast, for cash" I want to take a marker and write on them "But only if you agree to sell it for less than what it is actually worth" because that is full disclosure. 

Ok, now that I have probably upset most wholesalers, tell me why I am wrong. Thanks!

@Jason Boulter I am a broker and investor in Columbus. I own and am looking for more deals in Clintonville, north campus, milo-Grogan, Southern Orchards, old town east, ect. These are some great areas to still get cheap units that will continue to raise in value. I have several investor clients, and some that I partner with on deals. I would be happy to chat, or help in any way that I can. Thanks! 

I invest in Columbus. I also have done flips, but now am starting into multi-family deals. I have a book of investor clients that I help as a broker and adviser. I also partner with some on some deals. Do you have an agent or broker that you work with? What parts of town are you interested in? 

I live and work in Columbus. I am an investor and broker here in Columbus. I would be open to meeting up with you as well. I am currently looking for people to partner and work with in both investing, and by brokerage. Feel free to message me. Thanks!