All Forum Posts by: David Lehane

Hi Benjamin, the normal has been about 5 hours a month, depending on what is happening at the moment, sometimes its more and other times its less, it usually comes in burts.

Hope this helps. 

@Remington Lyman, thanks I may need to I was hoping this worked for someone new that wanted to get some experience, lets see how it goes it worked for me some time ago until the person I had graduated and is now powering forward on their own. 

We own properties in Columbus Ohio and we are looking for a person (this position is also suitable for Students) who is interested in learning everything we know, plus more while working part time on an ad-hock basis. 

This position involves assisting in property management, property maintenance, rehabbing properties, evaluating properties suitability for purchasing and more.

As out of town owners and Managers we need a person based in Columbus, preferably not to far from Down Town who is trust worthy, interested in working part time as needed, who is a people person and who is keen to learn and grow their skills in this area to assist us in managing our properties, along with growing your knowledge about investment properties with best practices for managing them.

This position will involve, Move in/out inspections, key hand overs, general property inspections, evictions (sadly so) all aspects of property management along with the possibility of property maintenance if your interested.

If you would like to know more please contact me and we can talk.

I have an apartment that I want to have drywall repairs, painting and other general repairs, does anyone have some names that they can recommend me for trusted contractors?

Hello Cheri

Like you I am finding it a challenge to find financiers for the next move in my business, I currently own 23 doors outright, and have been turned down by the banks for an Equity Loan.

So what I advise is move on to other banks, I am now trying to find Banks that understand investing and want to be with me for the growth, so I suggest a well-written Business Plan, prepare some financial statements if at all possible showing your growth, and finally persistent, keep trying remembering No, is really a lost opportunity on their behalf, and a minor set back on yours. 

Having said this, if I manage to find a good Finance Broker who understands commercial property I will pass on their details as well. 

Hi, I looked at this property as well, when I did the numbers based on the occupancy level, and took into account the time needed to do the rehabbing, along with the holding cost the overall sale price matched a property performing at a CAP rate of about 8%, but with huge delays and large amounts of work. Plus the price was at what I considered the Top/Just over of its price range once completed.

So my question is,  

1) What @Craig Haskell  asks?

2) What income & Equity could you produce buying a property performing now, for the same total?

3) Do you want a bargain, or do you want to pay full fair for a property?

I believe this property is overpriced, my personal valuation came in at 

1) A small performing Apartment complex, plus 

2) Some small amount of money for derelict buildings that need to be rehabbed to perform

So I suggest you re-evaluate the property in these 2 ways and see what the Buy price comes in at. 

Hope this helps, I dont want to show you my numbers but prefer to help you develop your own numbers so I hope you understand. Having said this please feel free to contact me if you want to chat further. 

Cheers

Due to growth in Columbus Ohio, I am looking to expand my team of trusted contractors.

• I have 4 Apartments that need Major reconstruction work
• I have ground works, where I want to build a Parking lot and fence in a property
• I have general repairs that need to be done in some Apartments
• I have 2 Apartments that need to be rehabbed ready for new tenants
• And I am looking for Lawn care, ground maintenance in general etc.

Does anyone have some trusted people that they could recommend and would be willing to share their contact details my way?

Hello BP,

I am looking for some advice from other successful Investors, we have a number of properties now under our Belt, all owned Free and clear. We currently have properties in Tennessee, Ohio and Michigan and want to expand further. All of these are Buy and Hold with the exception of 1 SFR we bought to rehab and flip.

I am now wanting to expand my portfolio further with more Buy and Hold Multi-Family Properties and was wondering if there are any recommendations for a Good Mortgage company out there, I am looking for a company that is used to dealing in Commercial Multi-Family properties and understands the difference between this type of lending over the STD Homeowners borrowing and one that can work over a number of US states. 

Is there anyone with some recommendations?

I ended up using a guy based in Milwaukee, Jason Bott, if anyone wants his contact details please feel free to contact me. 

On all of my properties so far bar 1, he has been the best price and policy wise. I have no affiliation with him so this is not a plug, just hoping to help save investors money.

Hello Jake

I would like to receive the details about this property so I a=can run the numbers.

Regards