All Forum Posts by: Ian Appold

@Andy Grizzell just started the transition to Columbus so would love to add more to build up the portfolio there. Toledo is great for cash flow but you really don't get much appreciation. 

Upper Arlington is a suburb of Columbus, rents in those units go for around $1300 per unit. They are all 2 bedrooms. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $810,000

4 unit small multifamily in Upper Arlington

What made you interested in investing in this type of deal?

Awesome location in new market

How did you finance this deal?

1031 exchange and bank line of credit

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $810,000

Small Multifamily in Upper Arlington on N Star Ave

What made you interested in investing in this type of deal?

Awesome location in a new market

How did you finance this deal?

1031 exchange and Bank line of Credit

How did you add value to the deal?

Raised all rents to market

With the market starting to shift I have started to notice more sellers starting to get more nervous about getting their initial price and completing the deal. In some instances this has resulted with them putting more pressure on the buyer with either signing the purchase agreement or during their due diligence period. I wanted to share a bluff that I think is pretty common among sellers for some rookies, that when I first started I usually bit on but now over the past couple years and after a few deals done its pretty easy to see. 

The bluff is this in some form: "I have been getting a bunch a calls on this" or "I can put this back on the market and ill have a couple new offers the next day" or my personal favorite "There's a guy/company in California that has offered way above asking price for this" 

Now this is not always a bluff but in my experience its usually bluffing 90% of the time. They may have had a few people casually ask them about the deal but its usually nothing serious more often then not they probably just want information. The truth is if they did indeed have a better offer they would be actively trying to kill the deal not speed it up. Or in the case of signing a PSA they would just stop talking to you and pursue the other buyer. 

The point here is take your time make sure its a good deal before moving forward and don't be afraid to ask for more of a haircut before closing. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $148,000

Duplex in Beverly

How did you find this deal and how did you negotiate it?

Was sent through a connection in my network. Was able to buy two duplexes right next to each other

How did you finance this deal?

66% Conventual loan, 33% company financed

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $148,000

Duplex in Beverly. Close to the Toledo Zoo and Ernest Brewing

How did you find this deal and how did you negotiate it?

Was sent this through a connection

How did you finance this deal?

67% conventual loan, 33% financed through my company.
Put no money down on this deal

Thanks, yea its Maddie and Bella's and then all the way down to Cooper's 

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $390,000

6 unit multifamily apartment building in Toledo OH

How did you find this deal and how did you negotiate it?

MLS gave asking price

How did you finance this deal?

20% down with 80% conventional loan

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $165,000
Cash invested: $190,000

Small multi-family apartment Toledo OH

What made you interested in investing in this type of deal?

Came as a package deal with another property

How did you finance this deal?

Cash