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All Forum Posts by: Marcus Hendren

Marcus Hendren has started 13 posts and replied 59 times.

Post: Whats your Cashflow Rule?

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29
I'm in student housing in Columbus, Ohio. Most of the properties I look to buy are a little more than $150k, but I like to see upwards of $500 per SFR.

Post: Anybody use B2R Finance?

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29
Jeff S. I used them for my last purchase because I couldn't qualify for conventional lending. Overall, I would have to say the process was extremely stressful. The deal was off market, the seller found another home that was contingent on our deal closing. It got to the point that the sellers bank was going to walk away because B2R was missing every timetable set during their due diligence process. I was dealing with multiple people from the company where correspondence was lacking. Seemed like every job was outsourced to a third party and information was never relayed correctly. Things they told me weren't necessary became necessary two weeks down the road. For example, I had to pay $200 to take a 4 hour property management class because I was one month short of the two years experience for self management. It literally came to the last hour or the deal was going to fall through. We did close, but I won't use them again. I think the time spent running in circles for them would be better used finding a local private lender.

Post: Recovering Investor In Columbus, OH

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29
Welcome! Columbus has been great to me as well. Good luck!

Post: New Member from Columbus Ohio

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29

@Jason Boulter They're all on the north side of campus, just south of Hudson. Most of the students have been great. Any problems that have arisen have been from lack of management on my part, which I think is a good thing. What do you think about OSU making all sophomores live on campus in the future? 

Post: New Member from Columbus Ohio

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29
Hello Jason! I'm from Columbus and currently invest in student housing. Love to help you anyway I can.
All of mine are SFR. I'm not opposed to any of the other asset classes, just haven't found any that cash flow as well as SFR. The sweet spot is when you can get a homeowner moving out for whatever reason. Property is well kept and commands top rent. I also look for value adds, where I can convert an attic, dining room, or basement into a bedroom. The additional cash flow from one bedroom makes all the difference. Hard for me to answer the location question because it can take 15-20 minutes to drive across campus at certain times. I think a better rule of thumb is a 15-20 min walk. You'll know you're in the right area if there's already other student rentals mixed in with family occupied homes. Makes the moms and dads feel good about leaving Timmy for the first time. 😢
Oh, and grad students are the holy grail in student housing IMHO. All they want is a solid shelter and be left alone to finish their homework.
So far, I've only invested in student housing. I can echo the sentiments above about the wear and tear of student housing. They're young and busy and usually the lack the knowledge and desire to care for the property. You'll be surprised how often a window breaks itself in the middle of the night. One thing I swear by is the app "Venmo." Directly connects to accounts and has fast transfer of funds with no additional charge. Most students use it to pay each other for miscellaneous expenses.

Post: How many rental properties do you own?

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29
4 in Columbus, Ohio. All student housing. Very easily managed via mobile. Always saving for my next one.

Post: Recommended audio book

Marcus HendrenPosted
  • Investor
  • Columbus, OH
  • Posts 61
  • Votes 29

Tax Free Wealth - Tom Wheelwright. One of the Rich Dad books. Might put you to sleep if you try and listen to the whole thing in one shot unless you just LOVE TAXES.

The Everything Store- Brad Stone. Story of Amazon and biography of Bezos 

Elon Musk- Ashlee Vance

The Snowball- Alice Schroeder. Biography of Warren Buffet