All Forum Posts by: Mikael Winkler

@Deanthony Quarles like others have stated, Columbus is certainly seeing a lot of growth and opportunity. Regarding what you're looking for, a lot of that depends on what price range you're in. As you stated, wanting to stay close to downtown/OSU, I'd say good bets are Old North, just north of campus, as well as, the area between Short North and campus, in the 6th, 7th, 8th Ave area. 

That is taking into account the subjectivity of "safe". Close to Downtown, the two neighborhoods that really come to mind as what one would consider safe, with all the nightlife etc, would probably be Short North and Italian Village. However, those are also crazy expensive. There are plenty of neighborhoods, such as Franklinton, that are close to Downtown and nightlife, but are still transitioning. These types of neighborhoods offer plenty of opportunity, especially if you're looking to house hack.

However, like I mentioned, if you're looking for a bit more established, close to Downtown, and not priced out, areas just North and South of campus might be a good bet.

@Gabriela Huayhualla

I think right now is as good a time as any honestly. There will always be some political or societal event that make people question whether then is a good time to buy. But, as long as your confident in your own analysis, those things shouldn’t affect whether you buy a property or not.

@Gabriela Huayhualla that's great that you do have specific goals for what you want out of REI. Those will help you navigate how you want to invest moving forward. And it certainly is great that you know your strength is your social nature. Everyone is different, and as long as you're making moves that maximize that, you'll be in good shape!

@Gabriela Huayhualla

One thing that I really wish I'd heard in my early stages of REI is to determine what your why is. Why are you investing in Real Estate? And get more specific than buzzwords or phrases like "financial freedom" and "getting out of the rat race". Why do you want those things? Also, really analyze yourself as a person. What are your strengths, your weaknesses? Don't put yourself in positions that aren't a natural fit for who you are as a person just because you think it could make you money. In my case, I was young and super ambitious, with a lot of really grand goals (be a millionaire, own 5,000+ units, etc). I was also, and still am, a very reserved and shy person by nature. In order to "fix" this, I tried for years to turn myself into a more outgoing person. I read every book about personality, psychology, selling etc. I thought if I somehow magically transformed myself into a type-A personality, I'd achieve all the goals I had for myself. I worked in retail leasing for a year, I tried being a wholesaler, I even quit my job for 6 months to focus on wholesaling. Only problem was, I am not a talker. I tried to force myself to enjoy talking to owners on the phone. Be out there hustling for deals. When in reality, I hated it. While I did see some success, I also saw constant anxiety, stress, and a few partnerships that went poorly from my end because I was trying to be something counter to my natural self.

I say all that to say, figure out how you most comfortably operate as an individual and gear your investing toward that. You don't have to be out there wheeling and dealing. After a very honest self appraisal, I realized that I'm totally fine with a methodical, long term approach. Also, it turns out, I really don't need those 5,000 units like I thought I did. Really, all I want is to spend more time with my family and be comfortable financially. If I happen to become a millionaire, great. But, I really don't care about that anymore either! haha  

@George Penree

A lot of great advice here. Like a few others, I started with a house hack on a duplex in Merion Village. I was able to utilize FHA 3.5% down, as well as, a first time home buyer assistance program. We lived there for about 6 months while doing work on it, leased it, refinanced, then moved out. So, basically a house hack BRRRR.

Good luck in your search, and any questions, just ask!

@Richard S Myers

Yeah, it's a very mentally taxing thing for a lot of people, me included. Have you thought about doing some mailers, even a small amount, to get some warm leads, as well? I'm thinking about getting back into direct to seller marketing in the near future, and will probably go the mailer route, or any other strategy really, before cold calling again. I have had some success with both, but I really do not enjoy cold calling at all.

But, that means if you're able to stick with it, you'll be able to get some deals that people like me won't haha!

Hey @@Richard S Myers! Cold calling strategies really vary depending on the person and what their rejection tolerances are haha. There are those that are going for sheer volume, and have a thick skin, so they'll call at all hours morning, afternoon, evening, dinner time, it doesn't matter. When they get rejections, they just shrug it off and dial the next number. 

Others, myself included, really don't want to rub people the wrong way, so I would always try and call during times of day that were the least inconvenient generally. Usually, mid morning (not right at the start of the day) and mid afternoon, so it's after lunch. But, that was just me. If it was the weekend, I'd go for mid morning and wouldn't go beyond like noon at the latest because I know I wouldn't want to be bothered too late in the day on a weekend.

Hello @Eden Kad! If you're looking for that $100k range, neighborhoods such as North Linden (South Linden starting to pick up, as well), Franklinton, Hilltop, Driving Park, Vassor Village, Hungarian Village are all examples of neighborhoods where this is possible. These are revitalizing areas, however, you can absolutely still have good tenants in these areas. A lot of that comes down to screening, but also having a quality unit. Many times, issues property owners face with tenants is a reflection of the property owner themselves.

For that $300k range, you're looking at Merion Village (north end for the most part), Olde Towne East, Old North, Campus area, as well as, out into the suburbs, as just some examples. 

It also depends on whether you're looking for single family or multi units. Also, whether you're looking turnkey or willing to do some value add. As mentioned above, there are a number of great local resources. @Zeke Liston and @Remington Lyman are great guys and very knowledgeable.

Well, I guess I'll go ahead and the tenth (I think?) person to mention Columbus. As your Midwestern cities go, it really does stand out in regard to opportunity, particularly related to real estate. There is opportunity for both solid cashflow, as well as, appreciation, especially in many of the areas around downtown being revitalized. We're expected to grow by over a million residents over the next three decades, as well. Coupled with a lag in new unit construction, that bodes well for appreciation of existing property. As long as that unit shortage doesn't fall too far behind resident influx, of course. 

Also important, the local economy is diverse, with several major industries. Insurance, banking, e-comm fulfillment, apparel are all well represented. COVID notwithstanding, the entertainment scene is also strong, with tons of nightlife options and three professional sports franchises. Not to mention, phenomenal hospital systems, the largest research university in the country, and THE best college football program in the nation...

I'm certainly biased, though, as I've lived here my entire life. But, I'll go to bat for Columbus anytime. On here, or as I've been known to do, waxing poetic about the city in the passenger seat of many an Uber after a night out at some of our fine establishments hahaha

Agree with @Remington Lyman here on hard money. They're really focusing on the property itself and borrower liquidity. I know a lot of people say they are typically more expensive, which is true, but they can also be so much more flexible, as well. 

I just finished up a deal with LimaOne, and they were great. A few bumps in the road initially, but got them straightened out and finished well. They're just one example, though. There are a handful of good HMLs out there.