All Forum Posts by: John Wright

@Simon Delony

Hey Simon I was in the same boat as you a few years back. My journey was first through financial literacy podcasts and then eventually to investing podcasts, audiobooks, and YouTube shows. I use to listen on my commute, lunch break, or at the gym and really got into BP and would subsequently try to play matchmaker with my wife and the many different podcasts that I felt would fit her interests. The advice I am going to give you I actually got from a fatherhood group but it is universally applicable and I apply it to our investing philosophy and now our family management philosophy. That advice is to actually not push or pull but to figure out how she really wants support and try to meet her exactly where she currently is. Our inclination as husbands is to find ways to provide for and lead our families. Great leaders get the most out of other people not by pushing or pulling but through modeling and personalized support.

First I had to remove any expectation and be ok with the fact that my wife may never be into investing at all. I could still pursue REI in alignment with our goals as a family. Instead of putting energy into trying to make her see things my way, I instead focused on communication around what I was doing and how it was going to help our family reach our big goals.

Fast Forward to today, my wife is now very interested in one of our longer term REI goals which is to own and operate a family lake-house. She is less into the day to day, flips, rentals, sales and partnerships but because we are in alignment with the big goal I now find her pursuing me for info on the REI deals we have going and what's next.

I hope this helps!

John Wright

@Dina Schmid if you are downtown and have a larger property you can do 125k plus a year. There is a property in OTR doing 250k and several others at 200k. Downtown is a good landing spot for wedding parties, corporate groups, families during the holidays, events, etc.

Looking for advice on a creative finance deal in Round Rock. Single family 4bd house in Round Rock that needs foundation work. I am told that foundation problems are common in this part of Austin. Seller would be open to creative financing since house needs foundation work.

Asking 300k

Foundation Repairs- $40k ( could be way less)

ARV- $385 to 400k

@Raza Rizvi I have experimented here in Cincinnati with arbitrage.

Hey Emily,

Are you saying that buyers in Austin are using earnest money of 1%? An agent in Austin just told me that earnest money is not really used anymore.  

Hey Agnes,

I have a good handyman who might work for you. I will send you a dm.

I have a corporate lease that you can look at. I am usually the one on the other side of the table but I think it works much better than any residential lease I have seen.

Paradigm Property Management.  

 I just sold a Southern Orchards duplex I bought in 2019. Househacked it, rented it both as long-term and as a short-term rental (Furnished Finder). 

Bought it for 180k, put 30k into it and just sold it for $425K!!  LFG!

I learned that you can still buy at this price point today although construction costs and complexity have both increased. Getting good long-term tenants was not as easy as I thought it would be. Actual rents were lower then projected.

I grew up in Whitehall so it coming around in the cycle totally makes sense to me. 

Expect the housing inventory to be much older then in Columbus. Most of the investors new to the market are surprised when they see properties that were built in 1890's. 

Traditionally it's been Eastside for appreciation and Westside (West of 75) for cashflow. 

C-class neighborhoods can be very street by street which makes it more difficult for investors. 

These would be my top strategies ranked for the market: 

1. Healthcare focused- Major healthcare operations and healthcare developments  

2. Student rentals- Two major universities within 5 miles of each other

3. Value Add- Plenty of older housing inventory to fix-up

4. BRRRR- Combination of smaller properties with plenty of rental demand

5. Fixed Income- Just like the rest of Ohio, plenty of fixed income residents who need proximity to healthcare, public transportation, and other urban amenities. 

Honorable Mention:

Short Term Rentals- Would be limited to downtown or NKY but all year round demand and limited hotel room inventory

Let me know if you want me to send you a market presentation I recently did for an out of state investment group.