All Forum Posts by: Kevin Ro

Thanks all - I appreciate the feedback - I've been on the road and may have some follow up questions in the next few days.  Thanks again.

Hi Carisa,

Ohio is a great starter market for multifamily and I could not stress enough that it makes more sense to go with multifamily, if you are able to, because income and expenses scale better when you buy right. It's also a great way to get the residual income train moving and there are added tax benefits going commercial. I know some brokers in multiple markets in Ohio who have been very helpful to me and some are also new investor friendly. Also keep in mind since you know the area well being that you are in Dayton OH, you might be able to JV on a project with interested investors who could help you get started.

Good luck, it's a great adventure!

My partners and I just closed 108 units in GA a few weeks ago.

I'm looking to see if there is an opportunity to re-purpose a section of our property which is in a flood zone.  The area is already fenced off so it does not impact anything else we have going on.  

But I am looking for some ideas on what I could put there.  The property already has amenities (pool, park and courts).  We're in the Forest Park sub-market (a C area) of Atlanta GA. It can be revenue generating or it could be giving back to the community - we're leaning towards giving back.

Or does any one know of any programs that may give us a better tax position since we aren't using the land for anything?

Thanks.

Thanks Tristam and Mark - Great info!

Looking for a property manager of small multi-family (5 - 30 units) in OH in the vicinity of (Columbus, Canton, Akron). Of course I am open to other areas in the state. If you know of any unlisted for sale, I would be looking to use your services to manage.

is this sold?

Is this still available?  Please send recent 12 rent rolls, operating statement and OM.

I'd like to hear what you learned from your first multifamily deal - 

How big was the deal - #units, location, cost?

How did you raise funding? 

What experience did you have before that first deal?

Who helped you?

What are they key factors that made that first successful syndication - a success?

What did you learn from your investors?

Just a few conversation starters:

Asking why the owner is selling and how quickly do they need to sell.  Their motivation can be a negotiating point for you both.

12 months rolling rent rolls, offering memo and operating statements.

Asking if there is any deferred maintenance? A lot of good info can come out of this if they are forth coming - it may provide a heads-up before due diligence so you have somewhat of an idea on what to expect before you fly out. 

During your analysis if you arrive at different valuations its good to know how they got to that asking price.

Asking the owner if they like their current property manager (some self manage).  Or ask the broker if they know any good property managers... (can do that on this BP as well).

Tell me what you like about the property, the neighborhood, etc.

Would you feel comfortable walking the neighborhood at night?  (If that matters to you.)

Thanks Jim,

What would be the recommended approach on targeting that audience?  I'm guessing a list source query.  Is there another avenue you'd recommend?