All Forum Posts by: Brandon Schlichter

 Would you say that process has changed in 15 years? Seeing as that's how old my foreign post was that you quoted.

 Call them and ask if they're ready for an exit. 

 At the time of said posting I was doing about $300/mo in cashflow per unit. 

Today I have about 3x the units (130+) but have been moving to larger deals. I guess I could have expressed the $300 * 500 units = $150k/mo cashflow number better, oh well. 

$150k/mo is now too low, I want $1m/mo, and that scale looks very different.

 I don't self-manage anymore, things got out of hand at 70, and at 90 it got worse and I didn't realize it was. I'm now at 130 + carwashes + laundromat + storage facility and have a few managers in the mix now, makes life easier.

No out of state places.

I'd start asking some questions of both the manager and HVAC company, repairs should work.

When we need trade-specific work done, we hire trade-specific people.

I'm now in the $20hr range (This was posted a while ago). Still CAN potentially get guys at $15/hr but the quality has gone down a ton.

Me! 

TIL : I'm a D class investor 


:(


On a good note, one of my tenants has been in the same place since 1979, and I'm now her 7th landlord. 

That would be me :)

The Scioto Valley Real Estate Investor's association meets in Chillicothe the 2nd Thursday of each month at OUC. Little closer than Columbus, we usually run 30 or so people per meeting.

I know a few guys in the Ironton/Ashland area I'll reach out to and see if they know of any in that area.

Be wary that on SOME products they raise the prices when the 11% goes into effect, so you don't end up with much of a deal. As other said, HD and sometimes Lowes will match the 11% on their prices which may be lower already. Not that this is always the case, using 11% off on already discounted/sale items is a pretty fantastic method to get really cheap materials.

The cheaper you go on houses, the more work they involve. For out of state investing you have to have amazing management. If you can find management that can handle all the aspects you'll be good to go, but I always question managers - if you can manage well, why haven't you gone out and just DIY. 

Central Ohio, including Lancaster is a great place to buy, but with cheaper properties, management can get tricky, both on renting but also on rehab which you will have to do if you are wanting to pull out equity for a BRRR.

I'd also like to mention that you're also going to need a off market purchase plan with due diligence. It's been well over a year since I have seen quality investment properties on the MLS in Central Ohio. All the decent deals are off market and you'll have to have an acquisition path for it.

Anything is possible, but I'd recommend you come to your desired area of Ohio for a few months in person to look at things, rather than trying the whole process from afar.