All Forum Posts by: Ryan Freet

I will soon be looking for a new resource related to a HELOC, Conventional, and Portfolio lending in and around Columbus. The people I've worked with to date are all in the larger commercial space and have not done much with smaller investors. If anyone has any thoughts or guidance on this it would be greatly appreciated. What is a good resource or where should I start looking?

@Account Closed It has vacant retail and restaurant space but would require a full gut and rehab. Looking around online I am seeing a decent amount of commercial vacancy which leads me to believe the market for a full rehab on some commercial space is very small. I am thinking it would only have land value at this point.

@Nate Fleming I'm trying to gauge interest in Springfield from investors. I don't have a lot of info on the various areas of town, I'm looking specifically Oakwood Place, Clifton Avenue, Highlands and that area. I'd definitely be interested in hear your thoughts.

I typically work out of Columbus and and am much more familiar with that area, however I recently came across an abandoned commercial property in Dayton (more specifically Northridge?) but am completely unfamiliar with the area. I am trying to run some numbers on the property but am unsure what demand is like for a property like this in Dayton? Is there a good deal of commercial vacancy right now?

As for the duplexes in Springfield what sort of returns are investors looking for in that area? I'm not seeing a lot of volume and am hesitant to get into something I cannot move at a later date.

 Would you group similar property/property types and value the each group collectively?

Hopefully this is the most appropriate forum for this topic. A couple looking to retire wants to unload a large portion of their portfolio. This consists of 25 units which includes some duplexes, a parcel with a permanent structure and several mobile homes, several properties under land contract, several vacant properties which need reno or have recently been reno'd, with the remainder (60%) in good shape but all rented well below market value.

I have a great deal of experience costing and analyzing large multi-family and mixed use buildings but those were all one building. I've done large condo projects which were separate buildings but the properties were uniform. 

I have a potential buyer lined up to wholesale if I decide to go that route, but I am not sure the most appropriate route to take in analyzing this deal. Any guidance or advice would be much appreciated.

How has the market affected buyers in the Columbus area? I feel many haven't been hit terribly hard financially yet, but many buyers have pulled back as money as tightened up. I know I have stopped looking at bigger projects with a longer holding period. Have other been seeing more and more buyers pull back? What have people been doing to find new buyers or new RE groups which are still active?

@Johnathan Simeroth What are you looking for? It sounds like you are not looking for anything conventional or portfolio related?

Speak with a local attorney on this sooner rather than later. You will get some good advice on these forums but this is definitely something you don't want to try to figure out after the fact. You'll probably need signatures from both of you on separate documentation for both properties.

Thats awesome! So are you planning to self manage or are you hiring a PM? Is there any opportunity for forced appreciation?

How did it go? What were the numbers if you don't mind my asking? Where did you find the deal?