All Forum Posts by: Justin Elliott

If it's a smaller size property I recommend Cozy. 

Love it!  Thanks for sharing @Jason Malabute

Hi Juvawn.  I live in Minnesota and have a 29 unit in Augusta, GA. I have a property manager that would be good for this project.  let me know if you'd like to connect.  

I think in court it would all come down to documentation.  Do you have any move in inspection?  That would be a good thing to do moving forward.  Then at least once a year do an inspection and take plenty of pictures.  

One thing you can consider is pulling the comps yourself.  When I had poor appraisals I challenged them with my own comps that I pulled using a realtor that I'm close with.  Sometimes it works and sometimes it doesn't.  The squeaky wheel gets the grease and most people don't challenge the appraiser so any sort of rebuttal is worth it.  

Congrats @Brian Ellis !! I know you will be happy you decided to do this. Your future self will thank you. 

"investing in other markets such as shoes". That's a hustler! Remember REI isn't really passive per se it will be a ton of work but you sound like you're game. Good Luck!

They may be GCs themselves with their own team. 

A few recommendations.

-Call a good property manager in Columbus (I assume) and tell them about your project and that you are looking to have them manage it.  Ask if they have anything same vintage same area and what they think rental comps are.

-Ask the broker or a property manager for a Costar report or other report that will show you sales comps just so you know what the market gets.

-call an insurance agent to get the insurance quote now.  They will happily do that for you.  make sure they are multifamily insurance specific or specialized in some way.

-find out the cap rate in that area. once you have NOI and cap rate you will have the valuation.

I'm usually at 3% closing costs.