All Forum Posts by: Bradley Spencer

Hi @Jeff Cashell 

Congrats! That sounds like a great deal. Can I ask what part of town you are looking in? I've yet to find anything on the MLS that cashflows like that. Also, how did you determine what you think the rent will be?

Thanks,

Brad

Congrats man!

@Ben Leybovich That would be great if you could make it, Ben.  I'm a huge fan of the your podcast episodes.

@Brian Hayes Thanks for setting this up, Brian!  Would love to join on a weekend in the future.

Welcome to the site @Emmanuel Jr .  I'm in Columbus, too!  Maybe we can grab a coffee sometime.

Hi @Peter Lohmann ,

Can you please elaborate on the long-term expenses in Colimbus that will offset that cap rate?

Also, as a native of Columbus and aspiring investor, @Chrystal T. , I would be curious what part of town you are seeing $1100 rents for a house in the 40's.  I would be happy to PM with you and describe the parts of town you might be looking at from afar.

As a broader answer to the question of Cleveland vs Columbus, I think Columbus has some unique institutions that tend to keep the population employed and and area desirable, such as the state capital, OSU, a handful of huge apparel companies, Nationwide (50k employees roughly), and a thriving service sector.  Personally I tend to think of Cleveland as closer to that "rust belt" city and might have been harder hit from a nationwide move away from manufacturing.

That's just my 2 cents at least.

Best,

Brad

Thanks so much everyone for your help.  This is a lot of great information.

It appears that some counties make this information available online while others do not.  From what I can tell, Franklin County does not put these online.

@Richelle T.  Your respond was especially helpful.  I'll let you know if I find a way to get the code infractions online.

Hi Everyone,

I heard that direct mailing folks who have a code infraction might be a good way to generate leads.  Are code infractions generally available online the way that owners records are?  I live in Franklin County in Columbus, Ohio and so far haven't had any luck finding a list of code infractions online.

Thanks!

Brad

Hey Phillip, what do you do down at the code office?  Im familiar with court house do to foreclosures but havent heard of the code office approach before. 

Hi Matt,

I'm in Columbus too and looking for a multifamily unit to owner occupy. I've been having a tough time finding a place in a good area too. I would say that if you get the right MLS search setup, there are places out there where you can get .75% - .8% of the purchase price in rent each month (if you are paying market rent for your unit, too).

I'm trying to find a place in Vic Village or Italian Village that is closer to 1% and am having a tough time.

Good luck and certainly try to find a cheaper place or a place that can rent for more!

Best,

Brad