All Forum Posts by: Mark Gray

I think you are correct about the size of this—2,382 sqft for half a duplex is a bit large in Mansfield. However, condos with this exact layout, ranging from 1,600 to 2,000 sqft, are popping up like wildfires here. If he builds this and invests a couple of hundred dollars in making it a zero lot line or turns it into a condo, he can make a killing! They are selling at a minimum of $200-175 per sqft when new.

We even have new builds popping up downtown—something we haven't seen in 60 years, including triples and duplexes.

Mansfield's real estate market is still super cheap compared to the rest of the country, about $200k less than the national average. It's awesome because we can buy at a super cheap price, and the market hasn't slowed down in the slightest since interest rates increased, unlike most of the country. We have people from Columbus moving here every day because of the prices. I'm a little biased, but I think Mansfield is a hidden gem when it comes to investing.

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Quote from @Nathan Turner:

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $8,000
Cash invested: $8,000
Sale price: $240,000

This opportunity involves a new build on a property in North Mansfield, OH close to a private member golf course. We will be building 2 duplex's on acquired land. The land is adjacent to 4 new single family homes recently built. We are looking for individuals and companies who are looking to partner with us and continue on with us as we work to build new affordable, safe, clean, and comfortable homes to accommodate the gap in available housing for the population.

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

Housing is very limited in Columbus, Ohio and surrounding areas and the demand far exceeds the availability! To help meet the need I have decided to acquire vacant lots in areas and towns in Central Ohio and help meet the need. Not only will we help meet some of the need, we will help transform communities which haven't seen new life in quite awhile. This can revitalize the local community and bring new excitement and individuals in the area.

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

I acquired the land through a lead from a member of my team. When conceptualizing the new build, another team member was able to get is special access to a builder that uses exclusive building concepts and material to produce new homes in a faster, more insulated, and quality way! The product we use is designed to last and perfect for colder climate areas as seen in the northeast and midwest parts of our country.

How did you finance this deal?

Cash, seeking private investors interested in financing the construction. A short term construction loan will be used if private money is not acquired.

Lessons learned? Challenges?

I anticipate some challenges and willing to learn and grow when needed.

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

I do have recommendations for agents and lenders in the area, just ask.

Hey Nathan,

Mansfield local here 👍 would love to know more details on this.

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Quote from @Anna Cherubini:

Hi all,
I have a property in Mansfield Ohio that I am looking at as a first out of state investment. I've never been to Ohio and wondering if Mansfield is a good place to invest and any potential issues I might run into.

Thanks in advance!

Hey Anna,

Born and Raised Mansfield Ohio, I personally own 15 units, completed 11 flips, have 5 Airbnb's.

I believe Mansfield is a hidden gem if you looking for cash flow now adays. You need to be carful with locations inside the city though not every location is ideal for investors. Send me a message about what you're looking at and I'll see if I can help you in anyway.

Thanks, Mark

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Columbus, Ohio

Recently bought an 8 unit apartment building, its in a decent area but the previous landlord didn't do the best job of taking care of the place so I'm cleaning out his trash.

Does anyone have any good recommendations for security camera's? looking for something that's cloud base, wired (going to run everything through the attic), with sound, at a decent price.

Thanks in advance!!

2 Votes

Quote from @Michael Garrett:

Thanks mark. I’m in the area today. Meeting with Mike Jason around 1230 at his property if you care to join us? Just chatting about Mansfield and possibilities etc. more the merrier. Let me know I’ll Message you my cell number.

Count me in 👍👍

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Absolutely! Alpha and omega has been the only property management company in the area for quite some time. So investors didn’t really have much of a choice it was somewhat a monopoly.

Dream Huge themselves has a pretty decent size portfolio. So they understand management 👍👍

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Quote from @Michael Garrett:

Hey team! I will be putting my mothers condo up for rental. Any recommendations for property managers? What have your rents been like in the area?

Dream Huge Realty is a new management company, in Mansfield Ohio.

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Hey guys,

Has anyone found a source where you can get Forbearance lists? Listsource does not have it, don't know if its possible yet but it would be really helpful.

Thanks

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@Scott Kidd I know these apartments pretty well, and glad to see someone is starting to clean them up. Would like to know more on this. 👍

1 Vote

Hey Tyler, good to see you on here! I'd love to network and learn from you as well, If you'd like to meet up sometime an talk real estate let me know 👍👍

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All Forum Posts by: Mark Gray

Mark Gray has started 5 posts and replied 16 times.

Post: Multi-Family New Build Opportunity!

Post: Multi-Family New Build Opportunity!

Post: First out of state investment property- Mansfield, Ohio

Post: Best security camera system for small apartment complex's

Post: Mansfield Ohio Locals

Post: Mansfield Ohio Locals

Post: Mansfield Ohio Locals

Post: Forbearance List (for direct mail or cold calling)

Post: Multifamily investment 187 Units Mansfield Ohio

Post: Mansfield Ohio Locals