All Forum Posts by: Michael Rodriguez

Hello BP Community,

A client of mine has a SFR in Portsmouth, Ohio that he is interested in selling. I'm helping to find a local and reliable agent to sell this property. Does anyone have a recommendation?

Thanks,

Mike

LOCKHURST VILLAGE APARTMENTS

Asking Price: $4,450,000

Provided NOI: $321,135

CAP: 7.2%

• 78 - 2 bed/1 bath townhouses
• 1 - 3bd/1ba single family house
• Avg rents $645/mo. (Market rent is $695)
• Upside through implementation of water bill back & rent increases
• Built 1981

1220 Lockhurst Rd. Columbus, OH

CONTACT MIKE RODRIGUEZ FOR MORE INFORMATION

614.949.4512

[email protected]

Licensed Ohio Real Estate Agent

Hi @Aakash Shah,

Central Ohio has a great economic outlook. It's become much more competitive as "the secret is out". Happy to help with any market information and keep you in the loop on opportunities. To get to know the region, I'd suggest visiting our Economic Development Organization - Columbus 2020. They do an awesome job with centralizing all of the great accolades we've received as a region. Their website is www.columbusregion.com.

FOR SALE: 29 Unit - North Linden - Columbus, Ohio

3742 Cleveland Ave. Columbus, Ohio 43224

For more information, visit the property link or contact:

Mike Rodriguez

Licensed Real Estate Agent

SVN Wilson Commercial Group

614-949-4512

[email protected]

Hi @Morgan Scroggy. It's at Smokehouse Brewing Company on Dublin Rd. in Grandview. It sounds like you'll be accounted for as long as everyone is signed up in the link above.

Networking at 6:00pm. Speaker at 6:30pm. 

Hi Michael,

I have a few referrals for you but it depends on the refi size, current equity, etc. I’ll shoot you a PM to discuss offline. 

I’ve had a few lender issues with financing a scattered portfolio. Wondering if there were other areas experienced that can be challenging from a buyer’s process. 

 Thanks for the response, Mark. What's the biggest buyer hurdle you've faced in portfolio transactions?

Thanks for sharing your experiences. We have a platform within SVN that allows for the marketing and packaging of SFR Portfolios based on the complexities of these transactions. It allows for the packaging of all service providers, cherry picking analysis (if seller approves), and provides individual property detail. Happy to share more offline.

You’re spot on with simplifying for the buyer improves value and attracts large portfolio investors nationwide. 

An investor took advantage during the downturn and recovery years (technically still in recovery) and has acquired over 50 single family rental homes scattered around Columbus, Ohio. Through property improvements and healthy rental increases (over 4% YOY in Columbus) this owner has a portfolio of properties with very strong appreciation since initial purchase. This experience has caused trapped equity (Gross Yield was 15% at purchase but as property value increases, they've reduced to 9%). In addition to the management expenses that a scattered portfolio demands, this owner has been thinking of making a move...

Of course, goals vary by owner, but generally speaking, what would you advise as a next move for this investor?

A.) Sell as a portfolio and1031 proceeds into a condensed property/portfolio (i.e. Larger Apartment Complex; National Tenant Properties)

B.) Refinance select properties and acquire more SFRs

C.) Not sure - I'm in this situation myself!

D.) Another Suggestion 

Please explain!

Interested to hear your thoughts! I've been talking to a number of investors in a similar situation as described above - whether it's 5 or 50 properties.