All Forum Posts by: Jonathan Pavkov

Also - if you have money for down payments of 20% on properties under 100k, it might make sense to purchase in cash - then adjust rents as necessary a few times. Then you can get a portfolio loan where 70% of your rents will count as income. I'm doing something similar. Best of luck!

Your friend needs to see what per acre comps are going for in the area. Also - if it's landlocked, is there any easement or way of access? Does the property have timber, fields or natural gas as potential income?

With a small operation, you should consider managing yourself. I had 1 duplex and I turned it over to a property manager and the experience was terrible. Now, I'm scaling, and will at some point hire a pm, but not worth the risk of someone without equity running your investment. Best of luck!

Congrats @Hannah McArthur - way to get into a nice deal with no money down!

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $145,000
Sale price: $195,000

I purchased this property by calling the buyer and asking if he'd be willing to sell off-market. We agreed to the price and we closed in 2 weeks. I came across another great off market opportunity and decided to sell this to invest the proceeds from selling this into the new property. I was in contract to sell and closed less than 3 weeks after purchasing.

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

I was initially going to invest ~$75k and rent for market rents, but decided to instead sell upon finding a different property to invest in with more potential.

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

I called from a list I pulled off of Franklin County Auditor.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

I simply found an undervalued property and resold it quickly.

What was the outcome?

I made ~$45k after fees, etc. in 3 weeks.

Lessons learned? Challenges?

If I had more time, I would have held onto this property and done the work myself. However, I was pleased with the outcome. My primary strategy is to buy and hold, so this went against that.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I purchased this property for cash, and did not use any other realtors for my side of the transaction.

Awesome - way to jump in and invest in Ohio!

Hi Luke - I live in Ohio and have been actively investing here since 2006. I can't speak to Texas and Florida, but Ohio has been a solid choice with appreciation and cash flow possible. Best of luck!

-Jonathan

Congrats on this! What part of Columbus is it in?

Congrats on this! I'm also a CPA, and have my real estate license. I am a small investor and looking to scale and appreciate the background of a CPA to help me analyze deals aggressively. Best of luck! 

Yes that makes sense. What part of town is it in? Could you hold for a bit and rent out?