All Forum Posts by: Isaiah Williams

@Brandon Schlichter

Places like Worthington or Westerville I would say? Honestly there really are not that many in the Columbus area.

@Heidi Kenefick

Its all.about the numbers. ANY PROPERTY regadless of its condition, has a price that can make it a cash flowing diamond of a deal! Plug in the numbers. Know your repairs, your max offer, your ROI, your ARV, etc, and then submit your offer. A lot of times people are going to say no and might even laugh at it, but stick to your numbers and your values. Some people are OK with 5%, others want minimum 15%. Whatever it is, STICK TO IT!

I'll invest in a cardboard box if the numbers work haha

@Chris Taylor

And Yes I would be moving out after 12 months if I got an FHA loan, but ASAP if I can manage my first PML loan! 😁

@Chris Taylor

Thank you so much for that! I double confirmed my math and everything and it still is panning out! I'm going to go ahead and pursue it! Time to make an offer but I still got to secure the money to buy it! Wish me luck

i remember looking at this property a long time ago but never pursued it as I was distracted with other potential deals! That is crazy wow it ended up being bought by a fellow BP member! 😂 congrats my man that is awesome! 

@Daniel Mirabel

Sapiens: A Brief History of Humankind

Book by Yuval Noah Harari

This book is absolutely MIND-BLOWING! It's not directly related to real estate, but this book can seriously change your ENTIRE mindset and how you look at and view the world and how things around you came about. This book is phenomenal I've read it twice now! (Hahaha)

Columbus Ohio is a pretty tough market for B class properties as far as investing goes. Although not impossible on the 2-4 unit small multi family side, you would find it a lot easier to find B class commerical multi family properties in order to invest in and make a profit off of.  Theres just not enough cash flow potential with anything less than I would say 8-12 units. For 2-4 unit homes, you would probably be better off with C class properties. North Linden and Franklington are both two awesome areas that are definitely up and coming and there's A LOT of potential in those markets. I know about this $80k duplex in Franklington with a $1400 monthly rental income AS IS. I stick with c- class properties and do my best to fix them up and makd them "above average."

@Ronald Morris

I apologize but I don't know what you mean by that? I thought it was supposed to be a link to the calculator?

Investment Info:

Single-family residence other investment in Columbus.

Purchase price: $65,000
Cash invested: $4,896

Accidental investment when the original purpose of the buy didn't work out 6 months later, I ended up renting out my spare bedrooms and positive cash flowing $110 after mortgage and other expenses are set aside, WHILE LIVING THERE! I do all of my own repairs and management which drastically reduced my over all expenses, as well as negotiated for my tenants to pay all utilities as well!

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

It was my at the time fiancés mother's house and she was going into foreclosure.

How did you finance this deal?

FHA loan

How did you add value to the deal?

I took a bad situation and used it to my advantage.

What was the outcome?

Free living and utilities!

Lessons learned? Challenges?

Always have a plan b. As much as we would like to, life almost never goes according to plan. Have a back up that you can fall back on.

ok everybody, this is the first time I've ever really used the calculator (I should have used this A LONG TIME AGO) and I was wondering if someone would mind double checking the math for me? The duplex is listed for $80,000 in a C class neighborhood with a few cosmetic issues, but the plan is that I could put myself in the one already vacant side and pay myself a rent of $700 a month along with the other side paying $700 as well. This is temporary until I fix it up, then of course I could move out after my 12 months are up (FHA loan).

Do these numbers seem accurate / realistic to you?