All Forum Posts by: Account Closed

I could have sworn I added these progress pictures but obviously not! Clearly a BP newbie...ha! Thanks Rob. 

Hey everyone - newer BP member here and I look forward to discussing and connecting with you all.

For my first post I figured why not start off with something I know is a hot topic in the wholesaling world...whether or not wholesaling is legal in Ohio....specifically in Columbus, OH (I realize the city doesn’t change the law, this is just my market).

I feel like I’ve read and read and read but still can’t formulate a clear cut answer. My theory after all the research is this, to sum it up quickly; as long as you are not advertising/communicating a “commission” on the property and you are communicating an “assignment fee” than you are legally in the clear. Furthermore, as long as you are not advertising the PROPERTY itself, rather the CONTRACT itself, you are legally in the clear.

Would love to get some feedback from those in the wholesale and BP community in general with any insight on this!

Thanks all and I look forward to chatting.

Hey @Simon Chang I'm an investor here in Columbus and as you can see from the responses already you're on a great track looking in our city to invest. 

As mentioned we boast a great combination of appreciation and cash flow. Not only that, it has what I would consider the "Big Four" that makeup the backbone of a strong, stable economy when looking for a city to invest:

1. State Government (Capital city) 2. Major University (Ohio State) 3. Major Insurance (Nationwide) 4. Strong Healthcare (Cardinal Health, OhioHealth, Nationwide Children's Hospital) 

I'd be happy to connect and be of assistance if you need any "boots on the ground" from someone who was born and raised here. 

Either way, good luck my friend!

Cheers.

Pat

614.507.0915

Investment Info:

Single-family residence fix & flip investment in Columbus.

Purchase price: $182,000
Cash invested: $10,000

Purchased my first investment property as a live-in flip back in late April of 2020. The house hadn't been updated in 20 some years and we are still in process of finalizing. Loving what we are doing every step of the way and learning the processes as we go. The plan is to sell or cash-out refinance in a few years, using that capital for additional investment properties.

Check out some before and after pics and let me know what you think!

What made you interested in investing in this type of deal?

I was looking for a value add property in safe, up and coming, rapidly appreciating area of Columbus for my girlfriend and I to live in and fix up while doing so.

How did you find this deal and how did you negotiate it?

Through Redfin and a Real Estate Agent.

How did you finance this deal?

Mortgage lender with an FHA loan.

How did you add value to the deal?

Updated all rooms in the house, repainted the entire house, exposed beautiful natural brick in certain rooms and uncovered a fireplace in the living room.

Continuing to add value by updating appliances, adding 1/2 bath and potentially a garage over the next couple of years.