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All Forum Posts by: Brandon Sturgill

Brandon Sturgill has started 274 posts and replied 2933 times.

Post: Development for Homeless Seniors Opens in San Diego

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

Good outcome on this it appears...any local opinions?

"Officials say there’s a large need for supportive housing developments like Trinity Place in San Diego County. According to the most recent count, one out of four homeless adults in the region are 55 or older, and the need is expected to increase. Supportive housing gives these residents a permanent home where they can benefit from a combination of affordable, high-quality housing and support services that promote health, housing stability, and individual well-being."


Post: Investing in Columbus, OH

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Haley Foutch Welcome to Columbus...the one contradicting factor you will find very quickly is that Columbus City Schools are quire poorly rated collectively...what you have to remember is that 20-years ago, Columbus was, for lack of a better word, a dump....the transition here has been long and uphill and the neighborhoods that are in full-on transition are still spotty...and still in Columbus schools. There are multiple cities basically in the city of Columbus with higher quality school systems and equally high property taxes...Westerville, Worthington, Dublin, Bexley, and Grandview Heights are all "in" Columbus, but they are their own cities...taxes in these locations on a $300k property will run $7-12k/yr.

The asset you are describing is not going to pencil out very well...what I mean is that a $300k property in one of these locations is not going to rent for $3,000/mo...maybe not even for $2,000/mo...there is a definite sweet spot here and for SFR it is between $135-175,000....nothing fancy...lower taxes and much better ROI across the board. There are also intermediate neighborhoods where you can find properties in the $200-250k range that make more sense.

Always happy to chat more...best of luck going forward.

Post: Looking for Markets to Explore

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

Welcome @Saurabh Kukreja ...how did you land on Akron?...do you know someone there or have family in the area?

Post: Need to buy in the next 44 days (1031 exchange) at $1.7M or more

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Jason Risley out of curiosity, what does $1.7m buy in your area...

Post: 200k and a very low dti what would you buy and why

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Patrick Thomas Dickinson the simple (and only) answer is to buy as many doors as possible in the most stable and growing market you can find...this would take on the form of a small multifamily property...probably in the 8-12 unit range within 20-minutes of a major metro city....you can find this in Columbus, Cleveland, Cincinnati, Kansas City, Raleigh-Durham, Nashville, Indianapolis, and other comparable cities...they key is finding the property...C-class value add with a strong property manager and you're off to the races...5-year hold with improvements made, operating expenses lowered, and income driven higher means your valuation will come back with enough equity to pull and repeat the process.

Post: Pledging Brokerage Account vs. Using Cash for Downpayment

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Isaac Hayes I have never heard of a conventional lender doing this...you're looking at single family (1-4 unit) properties...unless you are using a renovation style loan or hard money, I highly doubt any mortgage originator using conforming guidelines would touch this...

Down payment is skin in the game...a lender permitting you to retain your investment account without collecting your down payment?...not happening.

Does this work like an annuity or life insurance policy?...

Post: What are your Cash in Cash requirements? B, C neighborhoods…

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Valerie K. I agree with the folks commenting so far...these are all lessons learned and things you can avoid...I think you answered your own question...why focus solely on the cash flow if you don't need the cash...sure, cash flow is great, but creating a sustainable career buying stable and appreciating assets is better.

The high ROI properties you are looking at require an experienced, bulletproof property manager that understands how to get the property stable and performing....this is a rarity and will take a ton of due diligence on your part...lots of trial and error mixed in...

Best of luck

Post: First time property - 1970+ ?

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Adam Kuszczak most major metro cities will follow the same pattern...the "inner city" will be largely original housing stock...late 1800s to mid 1900's...developments typical radiate from the city center with age...so, 1950's through 1980's built properties are usually 3-5 miles from city center with the newest concentration of properties outside of interstate bypasses (usually forming a circle or partial circle around metro areas)...there is infill building and exceptions to these rules, but property age will be your #1 determining factor of where the properties you are targeting will be located.

Building materials and methods of construction (along with codes) were very different from one decade to the next, but homes are surprisingly sturdy and most anything can be fixed. I would set a year built filter with your other criteria and see what it returns...remove the filter and see if the properties showing are something you can be comfortable with.

It's more important to focus on the location and configuration of the property and opportunity for value add than focusing on year built.

That said, older properties (if not updated) will always require more work to get stable due to inherent issues associated with the building style and materials...stone foundation, slate roof, balloon framing, ungrounded or unsafe electric, and possible abatement of hazardous materials...

Post: Looking for referrals and opinions on any city in OH

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

No worries @Sharon Rosendahl ...are you listing with an agent? just curious if you're getting offers nowhere close to what you need...

Yes, the market is moving fast in most metro areas these days it seems...

Post: Roofing and real estate NE OHIO

Brandon Sturgill
Property Manager
Posted
  • Real Estate Broker
  • Columbus, OH
  • Posts 3,042
  • Votes 1,770

@Parker Brooks welcome...I always get your city mixed up...is it pronounced "Madeena"...you figure I would know this by now, lol...