All Forum Posts by: Justin Taber

 I am actually curious where you could build a 4-unit for less than this

Beautiful 4-unit property, rents total over 66k annually! 41 King Ave, Columbus, OH, 43201 - https://www.zillow.com/homedetails/41-King-Ave-Columbus-OH-4...

@Shaun Dillon If you're looking just at the numbers you'd likely be getting more than a 4% return on a new rental property and so you'd be better putting your money towards an investment property. However, its a personal preference and if you'd feel better paying off your mortgage to decrease your debt so you sleep better at night thats not necessarily a horrible move. Its good to have options!

@Sebastian Scott is there a reason you are looking for specifically single family homes as investments rather than multi families? Feel free to shoot me a message if that is easier.

@Brian R. great response, I was wondering if you would mind sharing your eviction attorneys information?

I am currently reading The Book on Managing Rental Properties by @Brandon Turner. The concept of processes has alway made sense to me since reading EMyth but I had never written everything down.

I was curious what processes you have in place that have worked well for you in Real Estate. I'm excited to hear what works for you or what you are looking to make more efficient.

My Application/Renting policy is below:

1.Schedule 2-3 times per week where you’ll be available for showings

a.At least one over lunch and one afterwork or weekend

2.At showing if potential tenant is interested give them the instructions on how to submit application online 

3.Once application is received online make sure it is complete

4.If complete, send them the background check email

a.Review Eviction, Credit, Criminal history to ensure tenant passes requirements

5.Check Background/criminal / eviction history

6.If Eviction, Credit, Criminal history pass check

a.Call employer to verify income

b.Call past landlord

i.“would you rent to tenant again”

ii.“did they make payments on time”

iii.“did they leave property in good condition when moving out”

7.If everything is verified call and offer tenant property

a.Schedule meeting to sign lease

8.If they don’t get “passed”

a.Send letter explaining why they were declined

@Ida Powers have you considered looking at multi family properties. These typically have better returns and you can live right very cheaply while you still live in town with a tenant making a rental payment. Let me know if you'd like to discuss further.

@Benjamin Vail This sounds like a great idea, we have 14 units of our own and 1 of them we airBNB and have found that to be quite successful. I'd love to get a drink sometime and learn more about what you look for and what you've found success with.

I'd be interested in attending and meeting with everyone

Hello BP! 

We have been growing our portfolio in Columbus, OH for the past 2 years and are up to 14 units! Our goal is to continue to add units (a lot of units) and we want to start getting systems in place that we can grow into. After my brother read The E Myth we decided we should really focus on this during the coming month. We'd be curious to hear peoples experiences and strategies for a few specific experiences and whatever else we might not be considering! 

1) What was your first hire to help with your properties? What tasks were they responsible for? And why?

2) What was the payment structure and amount of time worked per week? And why?

3) Would you go the same route or do you think you could change something to make the whole process smoother?

Thanks for your responses they will all be read and discussed! I look forward to hearing from everyone!