All Forum Posts by: Sharon Seiter

Welcome Shane!

I'm currently starting out in the Columbus area, but just moved here from Youngstown.  There are a lot of investors from Ohio on this site, and I am sure you will find some very helpful info as you start out!

Sharon

Thanks @Brandon Schlichter!  It's great to hear that you're having good results in Central Ohio, and that duplexes are pretty forgiving.  If you don't mind me asking, are you investing in any specific neighborhoods in Columbus?

We're big on doing anything to make home ownership less of a liability and more of an investment, and it seems like owner-occupied small multifamily will be an ideal way to get our feet wet in REI without too much risk.

Hello Sean, and welcome!

I am also a newbie, and moved my family to Cbus earlier this year.  I'm by no means experienced yet, but am getting a feel for the types of neighborhoods and prices throughout the city.  

From what I've learned, Columbus is a economically strong and growing city with a steady influx of people for job opportunities and the school.  Demand for rentals is high, but supply is also growing rapidly - you wouldn't believe the number of new developments going up in Northwest Columbus, where I live.  Still, vacancy rates are below 5%, which is pretty impressive.

What "grade" neighborhood are you hoping to invest in?  Do you know the name of the specific neighborhood this is located in?  I found this post helpful for rough estimates of neighborhood grades in Columbus: 

https://www.biggerpockets.com/forums/577/topics/312730-a-b-c-d-areas-in-columbus-oh 

Based on the numbers you outlined, I've got to guess you're dealing with a C or lower neighborhood, and possibly not a desirable area for students.

A lot of multi-families in Columbus seems to fit the "1% Rule" fairly well with their list prices, which would put estimated monthly rent on each of the 14 units at $350 - pretty low for Columbus.  If the market rents are higher than that, I would have to question the condition of the building or its overall location.

In any event, it sounds like an interesting opportunity, and I would love to hear if you end up pursuing it!  We love Columbus, and are excited to start investing here.

Sharon

One more question, @Kim Younkin...  I noticed the next COREE meeting is Tuesday evening.  Would I need to RSVP in advance or do anything else to attend?  It just so happens that my kids will be out of town, leaving me with a rare evening free. :)

Hi Barclay, and welcome!

I'm also brand new to this and based in Columbus. I truly envy your skills in construction - they will be invaluable in REI.

Do you have any tips on learning basic home improvement / handy-person skills?  Wish I had paid more attention to my handyman father growing up... :)

@Kim Younkin mentioned on my intro post that I should check out www.centralohioreia.com.  Apparently there is also a monthly meetup at Tommy's Pizza in Dublin.

Best,

Sharon

Thank you @Kim Younkin!  I will definitely check out both resources.  I just noticed that Panzera is managing a duplex a few doors down from me in Dublin.  Will definitely look to connect with you and the team as we move forward in the next few months!

Thanks Janine and Dave!

Despite being a "numbers person" by trade, I've been surprised by all the expenses in rental ownership that I had never even considered.  Rehab costs are an area that makes me both nervous and excited... Done right, they can easily add a lot of value to the property, but not if they cost far more than expected.  My dad is a contractors, so one of my goals is picking up some knowledge from my him to help me DIY / manage contractors as well as possible.

Hello all!

I'm a sales analyst from Columbus, Ohio and am currently learning all I can about small multifamily investing toward the goal of creating a house hack for my family by summer 2017.  

Beyond that, I am intrigued by the possibility of building a portfolio of small multifamily properties and generating cash flow to increase my flexibility and time with my two young sons.  

Right now, I am in the "learn and save every penny" phase of my journey, so I would love to know:

1. What's the best piece of advice, book, or article on small multifamily or real estate investing in general that you wish you had read starting out?

2. If you're located in Columbus, or Ohio I would love to hear about networking opportunities or resources specific to our city / state.

Looking forward to getting to know you all!

Sharon