All Forum Posts by: Steven Duby

Also, how exactly do I create a hyperlink to the spreadsheet?

Hello everyone,

I am looking to buy my first investment property in Columbus, OH and I have made this model to help do so. The way this model is set up, a deal can quickly be analyzed by inserting values on the 'Inputs' tab. The rest of the tabs in the spreadsheet are calculations I have made that reference back to the inputs tab. I know there may be some flaws with this model so if you analyze it and see issues please feel free to offer feedback as that was the point of posting it on BP...as well as using the model if you find it to be valuable. Any feedback is highly appreciated!

LINK: https://www.biggerpockets.com/files/user/StevenD09/file/property-analysis

Notes:

• This deal is set up for a househack with 3.5% down as I plan the live in it for one year and then rent out that unit
• I believe any investment should be considered using the Net Present Value approach which is why all of the tabs lead up to a statement of cashflows and then a NPV calculation
• Closing costs, expenses, insurance, income growth rate, expenses growth rate, appreciation, repair costs, and ARV are all estimates. I have not actually estimated repair costs which is why I put the $5K in repairs in the 'other' area. The rest of the inputs are from the MLS
• Because I would be using an FHA loan, I have set up the model so that I would theoretically live there for one year and another tenant would rent out that unit the first day of year two. I understand this isn't exactly realistic but that's why the monthly expenses and income change significantly starting Year 2
• Also, I would have intentions of keeping the property for at least 10 years (hence the 10 year cash flow statement.

Like I said, any feedback on the model itself or even the deal at hand is appreciated.

Thanks for everything BP community, you guys are awesome!

-Newbie

@Kurt Phillips it is always fantastic to hear success stories of others that had the same goals as you and accomplished them, so thank you! If there are meetups in your area I would love to join at some point. Appreciate the reply.

@Sarah Wheeler Awesome, thank you! I will connect with you and would love to chat Columbus real estate at some point.

@Matt Stewart Thanks for the input! I've heard negative news about Hilltop from a few others now. Definitely will be avoiding that area. Appreciate the heads up! 

Hello All,

Not technically a newbie but this is my first post. I've been listening/reading BP for over a year now and I'm stoked to finally be in search for my first investment property. I recently accepted a job offer in Dublin, OH which I will start this January upon graduation in December from the University of Toledo. My girlfriend graduates this May from Ohio State and has a job lined up in Columbus upon her graduation. With that being said, we are looking to buy this January. Our strategy is to get a FHA and househack a duplex in the Columbus area. I just wanted to ask if there are certain areas any Columbus investors recommend staying away from, or if there are areas with a lot of investment opportunities. I've done some due diligence but I feel it is more effective to talk with other investors directly.

I know I have left a lot of details out of this post, but I'm not exactly sure where I stand with banks yet. We will be making good money as soon as we both graduate but we will also have a combined 30 grand of student loan debt. Definitely open to any advice at this point.

Also, I know I will be looking to join local meet-ups as soon as I arrive in Columbus.

Thanks for reading and all of your help!

Steven Duby