All Forum Posts by: Maurice Smith

Hello BP ,

im in the process of closing on another 4unit multi family , this time in Columbus Ohio. I wanted to see if there were any recommendations on good management companies, and ones to avoid.

Did a bit of research on my own and came across R&L property management. They seemed good, and looks like they have prior experience managing the building I’m buying (based off the leases that were submitted to me) but way to expensive to what I’m use to … $137 - $184 per door (over 10%) and then $750 per door for the maintenance reserve. 

I also heard a guy named “ Donnie” who has been recommended to me .. the only issue is he dosent pay his owners until the end of the month .

Is this the norm for Columbus property managers , or am I missing something? 

I have several multi families on the west coast  ( one that I actually manage my self in California) and it’s just one maintenance reserve fee for all doors , and a % of the total rent usually 

( 8%-10%).   And Rents usually get paid around the 10th of each month.

All input is appreciated. 

Found a good hard money lender but they don’t lend on anything above 4 units.

any recommendations for some good hard money that lend on 5+ units in the  Ohio area  or nation wide would be appreciated. 

I’m looking at an off market 4 plex in Reynoldsburg area … asking price around 600k, massive units getting about 1500 in rents each. Current taxes are around $7800. If I can get this deal for 600 or under I feel like it will be  a decent deal because of the area being a B+/ A- area. My worry is the taxes being reassessed high.  How should I properly underwrite to possibly offset the tax increase ? 

 Your on top of it Remington , I always see you active in all the Columbus threads 

 Never consider Milwaukee, but I have heard other investors I follow on YouTube mention it. How long have you been in that market  for ?  

 I like the prices in Louisville. Have a few 8 plex options that are fairly priced. Getting the same rents as some of the properties I was looking at in Columbus for almost 2x the price 

Hello,

I’m a small Mulit family Investors with all of my portfolio currently in the west coast ( California, Las Vegas) 

For the last 6 months I have been looking to buy in other markets.

Louisville, Columbus , Charlotte are my current  picks. 

Seems like all 3 markets are competitive, with Louisville being slightly cheaper than the other 2 markets I mentioned. 

If you’re familiar or invest in any of these markets, your input is greatly appreciated.

Thank you 

How did this go?  I’m looking at a triplex in Oakland,, 2 of the units are 1 bedrooms 1 is 2 bedrooms with there own garages. I’m not to interested in making it a completely separate dwelling with separate address.  My plan is to convert the garages into bedrooms, so that I can get more rents.