All Forum Posts by: J Mishkin

PRICED TO SELL !!! OWNER MOVING OUT OF STATE!! LONG TERM OWNER!!

8 Houses - 11 Units

Located in URBANA, OH

BOOMING central OH town. Located on Rt. 68. 50 minutes to Columbus. Rentals are in VERY high demand.

I have owned most of these for 10+ years. Well maintained. Very low maintenance. Nice houses in good condition with great tenants. Several multi-year tenants.

~ 2 Multi family, 2 unit and a 3 unit. 3 unit is setup just like an apartment.

~ Rents of $6,570 monthly with taxes and insurance being $877 yearly

~ HUGE appreciation potential

REALTOR APPRAISED at $625 - 641k

PACKAGE PRICED @ $550k

I can send more information if interested. I have done very well with these.

I also have a 2 unit in Delaware, OH that generates 850 and 650. Easily be able to up those rents but have longer term tenants in there so I keep it low. House is all updated. Great future potential with this place. Super booming town. Add 165k if you want this place in the package.

PRICED TO SELL !!!   OWNER MOVING OUT OF STATE!!  LONG TERM OWNER!!  

8 Houses - 11 Units

Located in URBANA, OH

BOOMING central OH town.  Located on Rt. 68.  50 minutes to Columbus.  Rentals are in VERY high demand.

I have owned most of these for 10+ years.  Well maintained.  Very low maintenance.   Nice houses in good condition with great tenants.  Several multi-year tenants.

~ 2 Multi family, 2 unit and a 3 unit.  3 unit is setup just like an apartment.  

~ Rents of $5,945 monthly with taxes and insurance being $877 yearly

~ HUGE appreciation potential

REALTOR APPRAISED at $625 - 641k

PACKAGE PRICED @ $550k

I can send more information if interested.  I have done very well with these.

I also have a 2 unit in Delaware, OH that generates 850 and 650.  Easily be able to up those rents but have longer term tenants in there so I keep it low.  House is all updated.  Great future potential with this place.  Super booming town.  Add 165k if you want this place in the package.  

not sure why this was moved to this section.. i don't have a question or a issue.

just delete.

:roll:

bought a 3 unit that was setup weird. 2 (1) bedroom units downstairs and a a large upstairs that they were using as sleeping rooms.. had 1 kitchen/ba upstairs w/ 4 bedrooms. And they had 2 meters and 2 furnaces running west side / east side up/down on the place.

I have no idea how they were doing it or maybe they just had the 1 bedroom people paying to heat the place :D

I'm still working on it but I redid all the wiring and put in a 3rd electric box and then had a electrician setup the meter base and everything else so the city would go easy on me. Got everything approved by the electric engineer and city inspector so now i have 3 separate meters!

I'm not even going to use the gas furances and I just went ahead and turned all the units into baseboard heat.

Finishing up the plumbing and then the painting begins.. After that a lot of little stuff, and then I have to wall up the 2 car garage. Best part about this is theres a additional workshop on the side thats already walled off with its own electric box and it has a separate entrance. So i'm going to keept his for my own personal workshop to keep extra tools and materials in. :D Awesome! It's a block building too.

So anyway, I have about another month or so of work and then I can start looking for tenants.

be careful, don't get to eager and get into a deal u can't get out of.

Thats the best advice I can give.

its a brick home and they will shift like that. I have a brick home and its doing the same thing but its very very minor movement.

My neighbors brick ranch has it pretty bad on both sides.

ground moves, houses shift... not that big of a deal..

now.. what u have to consider is.. what are your plans? fix and sell? or fix and keep? if ur going to keep it.. a lil crack isn't going to hurt anything.

Also. .is it on a crawlspace, slab, or basement?

I'll never buy a house on a slab.

a mobile home will last forever if u can keep a nice roof on it and most come with a metal roof so thats not usually a problem.

They are easy to maintain and fix. Small floor plans, everything is small and cheap for them. I wouldn't worry much about there lifespan.

for the bid amount it really depends on the shape of the house and how active your market is.

around here (central ohio) its really active and lately everyone is buying everything. To get a good deal I will over-bid by atleast 1,000. Last house I over-bid by 2,000 b/c I know it will bring me back SOOO much money 2k isn't nothing.

Think about the money you'll make and the profit to get your numbers. Then you'll know what your max bid can be.