All Forum Posts by: Sean Dawson

@Kevin Noesner  Thanks for the video.  Took awhile for me to figure out how to use periscope.  Hadn't d/l it or used it before.  I think I was trying to rewind or fastforward it and added a few hearts.  It was good, but didnt mean to add multiple hearts!   

Question about Merion Village and Hungarian Village.  Closer to German Village the crime isnt too bad, but down lower where the cheaper houses are, it not very safe.  How does that come into play with your decisions?  How long do you think it will be before it turns from red?

Old Town East and Italian Village seems to be the better bet, but as you stated we are being priced out by the bigger guys.  

Where do you see smaller multifamily's as a good investment area?

Just FYI I think your sound was more muted towards the end of your presentation.  

Thanks for putting it up!

@Ben Leybovich Ok, I just found that there was a blog post associated with this thread.  My answers were answered there.  

That being said though, you don't buy properties that rent for under $1000 at all? I gotta be honest and say I must have to change my mind set. I cant believe people would rent, at least long term, at that price point when they could buy. I get all the credit problems and not having the down payment, but I wouldn't rent to someone who had that bad of credit in the first place. With FHA and low down payments it just does not compute.

Thanks for the blog post, it was interesting and has given me food for thought 

@Ben Leybovich

I have a question about this $3000 per annum.  Is this after all expenses had been calculated? Property management, taxes, vacancy, expenses? 

 $3,000 a year is $250 a month positive cash flow after all other expenses seems pretty good to me.  I'm just trying to figure out my own numbers here.  I take into account 8.3% vacancy, 10%  maint expenses, 12% property management, whatever taxes are, insurance, then the mortgage.  

So you're saying that the  $3000 positive cash flow plus the 10% maint expenses would not be a good deal?  

Hello @Ivan Lavrishin.  Wow, that really stinks.  Where is the property located?  Is that the 18 Ave property?  Looks like the other side of the street has been fixed up. 

@Joe Curry Welcome!  I've got a few friends here in CMH in the paramedic squads.  You've found a good place here.  Tons of info

@Kevin Noesner We own a double on Sheridan Ave.  Used to over look the old "thunderdome" courts from my bedroom window.  Glad they took that out and put in gardens.  They have been kicking around redeveloping that area for awhile.  Hopefully something nice comes out of it.

@John Horner Thanks for the welcome. I just might take you up on the offer.  Let me know if there is anything I can do for you.  I work a 7'n'7 schedule so when I'm home I have a lot of free time.  Which is now being put to use stalking neighborhoods.

@Mark Nolan Thanks for the welcome, it is nice to be here.

@Ben Payton The group I went to was pretty much just a 3 hour long sales pitch about how great the person was.  I did find the time spent with other attendies very worth while.  Also as I explained to my wife, the meeting itself was worthwhile too.  Now we know what NOT to look for in a group and it reinforced the fact that going the guru route (not that it ever was a real possibility) is not the way to go. 

@Coryl Liepelt I realize some do invite people to talk about what they do and have no problem with that.  They're giving up their time and I'm sure sometime they have good information and different ways of looking at things.  But when it strays from that into how great they are and you can only succeed with their system and by paying them to teach you, I tune out.  My wife wished we had easy chairs, popcorn and then commented on the speaker Mystery Theater 3000 style.  It was that surreal.  But just FYI it was not a COREE meeting.  We missed the September meeting but are looking forward to the October meeting although it looks like it hasn't been scheduled as of yet, according to the website at least.  I agree, the interaction with other investors and those interested in real estate is invaluable.  If the schedule of the first Tuesday of the month sticks I will not be able to attend, but I'll make sure my wife looks you up while she's there.  Thanks for the offer.  

Sean

p.s. How do I link the names of people?  I thought by adding @ infront it would automatically link them.  I have just been copying the address from the name and hitting the link button and highlighting their name.  Has to be an easier way to do it.

Good Day all!  First off I have to say how glad I am to find this place.  The depth of knowledge and willingness to help, answer questions and give pointers is fantastic.  I realize I am behind the 8 ball a little bit here, but listening to the podcasts, lurking in the forums, reading the ultimate guide has really brought my wife and I up to speed.

So lets get to the nitty gritty of the introduction.  I bought a duplex near Capitol Univ. right after graduating from OSU and lived in part and rented out the other.  Learning how to manage the mortgage (at 12% at the time!), deal with the tenants I acquired with the property, repair everything I could and not hate raman noodles (didn't have any money re: 12% loan and lower paying job) was very enlightening.  Of course I could only see that after I was able to refinance a year later.  

My wife, who was unknown to me at the time, did the same thing around OSU's campus.  She had a better paying job so there was no raman for her!  She is the reason we are here today.

Fast forward 15 years later we have (read, she poked and prodded until I took the bit and ran with it) decided to expand our holdings from those 2 duplex's and acquire more buy and hold rentals.  We would like to be able to work for ourselves and have passive income from our current and future rentals that we can replace our current salaries.  

From learning how to run the numbers, how to locate properties, how to vet a property management company and learning about alternative funding to break thru the 4 property mortgage limit (per person) we seem to have here in Columbus, Bigger Pockets has been a great help.  I did not realize how big until we went to a local real estate investment club where the principal was very impressed with it's self ( pronoun changed to not prejudice future meeting attendees) and offered to teach us for a low, low price plus 50% of the profits or a low, low price which was half way to a decent flip property with no profit split.

The meeting wasn't all bad though, we did get the chance to network with some decent people.

So thanks again!

TLDR: high interest rate, raman, wife set direction, expand property, guru bad, freedom, profit!

Sean 

Dave,

I think what we have here is a failure to communicate. if I had been able to just hit reply,  I would not have posted that it is not working. I have hit repy and the a popup comes up saying I must be a plus member to post in This forum. 

I have tried the 1st page, the 2nd page, the 3rd page and the last page. Still no joy. 

Is it possible that instead of my account being messed up the forum section is having problems. Perhaps the permission s are set instead of allowing anyone to reply ot is set to only allow plus members?

Thanks

No, we are are not on the same page, or at least as I understand it.  

I understand you cannot POST a topic in that forum unless you are a plus or pro member, but it says right in the forum header page that you can respond to a post:

"To Initiate an Event thread, you must have a Plus or PRO account, but any member can respond"  

Still cant reply to that topic, Columbus meetup.  This is the page:

https://www.biggerpockets.com/forums/521/topics/12...

Thanks!

@Dave Visay that would be how I understand it at well. After clearing my cookies, trying a different browser, trying a different computer, tryin my phone it still will not allow me to reply to a post in the meetup forum.