All Forum Posts by: John Mullen

Hey all! Does anyone here do land deals? I’m representing some friends who are interested in buying undeveloped land outside the 270 loop, probably East side of Columbus, and building their own homes. Looking for something like 15-25 acres (super rough), zonable for mixed multi-residence/agriculture.

1 Vote

Columbus, Ohio

Quote from @Jarrod Payne:

Hello my name is Jarrod Payne Im looking to network and connect with real estate agents, wholesalers, and private money lenders. Im looking to expand my short term and mid term rental portfolio i may be interested in a few fix and flips as well!

Welcome Jarrod! I'm a new investor working on my first BRRRR who likes to stay active on BP. I may be able to help you with some of those contacts you're looking for; either way, good to meet you.

1 Vote

Columbus, Ohio

Quote from @Shannon Kearns:

Quote from @John Mullen:

Welcome! I’m new to the game but investing and living in Columbus. I can tell you based on recent experience not to be too ambitious on the scope of your first rehab haha.

Thank you for this advice! Fortunately, I'm not interested in a rehab. I don't have the time for it right now (or the know how hahaha). Maybe eventually!

Totally understandable. Being open to rehabs opens up lots of potential properties, but that newfound margin may all go towards hiring a GC and subs to do the work for you. Shoestringing it by self-performing all the work takes longer but it's what was achievable for me and my business partner on our first go-round.

1 Vote

Columbus, Ohio

Quote from @Aruna Abdool:

Hi fellow investors. I'm interested in Columbus, Ohio (Franklin county)/multi-family/mid-term rental as a strategy. I'm doing my due diligence by looking at current data like population growth, significant companies with their HQ located there, etc., and taking virtual neighborhood walks via Google maps. Depending on my findings, I plan on visiting the area before investing. Still, there's nothing like the feedback from locals or investors within that area. How are your investments doing? Were there any surprises after performing your due diligence, and for the locals, what is your take on the mid-term rental in this area? I live in a neighborhood predominantly of homeowners, and an MTR strategy would fail here. However, LTR residential investing could be successful. Thank you so much for your attention and participation.

Hey there! As a new investor (first BRRRR in process) who's local to Columbus, if you're interested in MTR strategies then Children's Hospital area is a great place to start thinking about buying. My property is in South Side (C neighborhood) and me and my business partner are shooting for what appears to be the gold standard, after looking at listings on FurnishedFinder: if in a C neighborhood, go B level rehab.

1 Vote

Columbus, Ohio

Welcome! I’m new to the game but investing and living in Columbus. I can tell you based on recent experience not to be too ambitious on the scope of your first rehab haha.

0 Votes

Columbus, Ohio

Quote from @Remington Lyman:

Quote from @John Mullen:

With all the present and impending growth in Columbus population and thus real estate markets, I’m beginning to wonder if roads and freeways are inevitably going to become a copy of the traffic jams I left behind me in California! The challenge will be for Columbus to keep its Midwest character as it becomes the hub of new industries in the region.

Maybe for your grandkids. Columbus is growing but I doubt it will grow that quickly

Let’s revisit this post in 5 years haha. If Broad St and the 270 are bumper to bumper you owe me a beer.

1 Vote

Columbus, Ohio

1 Vote

Columbus, Ohio

One way that your numbers could be made to work is by considering a short or medium term renting strategy. AirBNB-ing isn’t as easy now as it was during the first days of Covid, but it’s still doable depending on area and property differentiation/uniqueness. Or if you buy near a hospital, think travel nurse/doctor renting for 30ish day stays. Either way there are some tools to help (airdna, etc.). I’m working on a Columbus rehab right now in a C- neighborhood that should be B-C in. 3-5 years if trends continue, and it’s within a couple miles of a large hospital. So I’m planning to practice what I preach here haha. Good luck, I admire the hustle it’s clear you have.

0 Votes

Quote from @Alon A.:

Hey,

Im doing few posts lately to here feedback and understand what is the best route for me.

There is so many locations to invest and im struggling between few.

I have around 150K-170K on hand to invest in any property i want.

I got approved for loans with 20% and good rates so that is not an issue.

I used to live in Austin Texas and i love Austin but i dont know if its good to invest for 1st time there.

DFW, Texas is attracting me as well and more affordable with around 200-250K houses

Jacksonville, Tampa & st pete is also interesting markets.

Columbus OH

Columbia, SC

on other hand, there is cheaper im thinking to go with Cash Flow or with Appreciation ...

Cleveland OH, Akron OH are market with around 80K-100K houses and the rents on them are good, but the area it self its not have high appreciation rate year over year.

If i go with 250K + 50K remodeling it means i put 60K down payment but cant get $1800 -$2000 rent, so its not the best cashflow.

I need your help with what do you think in my condition is the best to do ? Im going between 6-7 different markets and im not focused, i need to build a team in one place , im spending ton of time about searching and searching more and more

Going back to your original need for more focus, and based on your hesitation about Cleveland-type markets (which I understand), I would pick the top 2-3 cities on your list that can provide a good compromise of cash flow and appreciation (think Columbus and DFW), then either remotely research them or visit them and drive them in person. That will help you pick your favorite city and focus all your energy on it, rather than getting stuck in analysis paralysis. Good luck!

1 Vote

Quote from @Remington Lyman:

Quote from @Ashley Cross:

Hi Jim! Check out @Remington Lyman or one of his fellow Reafco agents. They do a lot of business in the city. I wouldn’t necessarily exclude agents in their 20s. Focus on the agents transactions (their volume in the last year, did they work with investors primarily, did they work with out of state investors, do they own and manage properties in Columbus, etc). There are a bunch of old agents that aren’t in the know and with all the changes happening in Columbus you need to be. I’m not in my twenties but I’m relatively young in the mortgage business and because my experience has been working with real estate investors, primarily out of state and I’m an investor myself, I can guarantee you I know more than 90% of other mortgage bankers that have 20+ years of experience in the business. Having experience with the last recession or previous economic downturns isn’t necessarily a golden ticket to Ace this one. It’s a different animal we’re dealing with.

Thanks, Ashley but I am 28. With that limitation, he effectively eliminates 50% of the market share of rental deal makers here in Columbus.

Good thing I'm 30. Now if only I were a realtor!

1 Vote

Columbus, Ohio

All Forum Posts by: John Mullen

John Mullen has started 8 posts and replied 64 times.

Post: Land search outside 270

Post: looking to connect

Post: New investor/homeowner eager to learn and network 🤓

Post: Do we have any investors that currently reside/invest in Columbus Ohio

Post: New investor/homeowner eager to learn and network 🤓

Post: What is Happening to OHIO?

Post: What is Happening to OHIO?

Post: Finding a BRRRR that checks all the boxes

Post: Location of starting the BRRRR

Post: Looking for a Columbus Real Estate Agent