All Forum Posts by: Harman N.

@Harman N. private builder rates have climbed steeply over the last 5-years...I've connected with a couple of builders and they seem to be closer to the $200/ft mark outside of the city...doing a lot scrape and build in a popular area could easily double that. Existing structures in the city are hovering around $200/ft right now...lots of variables, but buying existing would be a significant savings.

If you move to secondary markets you may find a local builder that does 2-3 builds a year around the $150-$175/ft. mark. for single family...cookie cutter stuff...no real customization or deluxe finishes... 

@Harman N. Define B-class, lol...I know we all use the Marcus & Millichap asset class language, but it's more complex. We used algorithms and math to create rules to classify areas...this is a very scientific journey...and my B-class is probably significantly different than most...so, I think the fundamental question is what makes a B-class location B-class...

It's also important to note the structure...even using the simple class factor...a 200 year old property with a stone foundation in an "A-class" neighborhood may turn into a cashflow killing money pit...

Best of luck

@Harman N. sure, PM me your email address.  Keep in mind that the spreadsheet is for upload purposes only; so, it's basic.

I bought QB and planned to use it but it was not intuitive and could not facilitate the file uploads.  So, I tried a 30 day trial with Xero instead, it worked, and I have been on it for a few years now.

Hey @Harman N.  I tried converting AppFolio reports into a file format that could be uploaded into QB and that did not work.  I manually key AppFolio Owner's Statement data into a standard Excel template that is prepopulated with recurring descriptions (unit numbers, rents, management fees, landscaping, dates, etc.)  I tried uploading that file into QB and QB would not support it.  So, I use Xero instead...and upload the Excel file (CSV).  Incidentally, Xero is significantly more intuitive than QB.

Currently, I am doing this at a transaction level but may start using aggregated totals.  I catch PM errors during this process; so, not sure how aggregated I can go anyway.  For example, I recently noticed that the PM did not transfer a security deposit to my account for back rent after a non-paying resident moved out, did not bill back residents for utilities, forgot to reimburse a portion of carpet repair caused by a former resident's pet (PM did not withhold security deposit or have move in/move out inspection documents), etc.

It's not an elegant process but it is semi-automated.

@Nathan Miller I need more robust reporting for commercial lenders, financing packages and general analysis (separate and aggregated property P&Ls, T12s, rent rolls); so, unfortunately, I may need to handle the bookkeeping myself or continue to vet PMs who provide this service.  I see this reporting from sellers when performing due diligence on properties; so, there are PMs and systems that are providing this data.

Buy in Old North Columbus or Franklin Park so we can be neighbors. I would consider those A locations though.

I would consider Grove City, Reynoldsburg, and Gahanna A as well. Clinton Estates is probably B.

Below is what I would consider > C areas. Please note this is an extremely rough sketch I did in a couple of minutes. It is not as accurate as it would be if I spent a couple of hours.