All Forum Posts by: Nizar Basma

Hi Ly,

I'm also from San Jose and purchased my first OOS rental in Columbus a couple years back. Happy to connect and discuss more about what I've learned so far about Columbus!

@John Mucilli i was in the same shoes as you towards the end of 2021. I did research, read books, attended meet ups etc but i couldn't make the jump and take action. I just had a really candid conversation with myself and realized that i needed to make the jump and take action otherwise i would end up in the same place next year. @Jon Catterson sums it up really well, just focus on the next step and the momentum will build. 

Hope that helps and good luck!

Nizar 

Congrats @Lawrence Briggs! Hope this is the beginning of many more doors!

Agree with @Sathiya Gane check rentometer and zillow to get a better understanding of current rents. Also i don't see you factoring in property management. Not sure if you'll be doing that yourself but it would give you a better understanding of your returns if you decide to use property management one day. Good luck! 

I agree with @Will Fraser in that you need to identify the market you want to invest in. Figure out what your real estate investment goals are and that will guide you in which direction to take. 

Good luck! 

Nizar Basma 

• Congrats @Brian Ellison! @Taylor L. makes a great point in identifying whether this property falls in line with your end goals. Here are some things to consider: 

4.375% on Mortgage rate - About $1,460/month P&I (+ taxes $125/mo + ins $95/mo)

•  When you're running your numbers, are you also considering the P&I associated with the repayment of the 401k loan and heloc?  That can drastically change your anticipated returns.

I say all the above because I'm looking to renovate this property and attract a higher-end client. Giving this a face lift with new tile, new kitchen counters, dishwasher, and a washer/dryer could go a LONG way, I think. Higher-end 'townhome style' rentals go up to $2,000/month in this area.

        Have you factored in the estimated renovation costs into your analysis? It sounds like you can rent it as is without that much               renovation which could help in reducing cost. Also any renovations means that the property will be vacant until complete,               diminishing your returns as well. One thing to consider is to do the renovations prior to selling as that will warrant a higher listing price. 

Good luck!

Nizar Basma

if the numbers work then why not? No one can predict what will happen but if the analysis is strong and the investment can support itself then it's a good deal irrespective of the market cycle.

thanks for the info @Austin Paulenske! Im sure your next renovations will go through smoother with the experience you've gained. Good luck!

@Austin Paulenske congrats on your first deal! I'm starting to do research on Columbus,Ohio myself. What are some of the red flags you'd look for when it comes to unreliable/unprofessional contractors?

Thanks and good luck!

@Adam Lacey makes a great point. Network and educate yourself. By networking you'll meet new people and also learn their investment stories. By educating yourself you will learn how to analyze deals, where to invest, how to finance, what kind of issues to look for and potential red flags etc. 

Good luck!