All Forum Posts by: Trent Ecklar

Investment Info:

Large multi-family (5+ units) buy & hold investment in Columbus.

Purchase price: $225,000
Sale price: $305,000

Purchased as a buy and hold. Sold a year and half later to take advantage of the lack of multi-family inventory in the Columbus Ohio market.

What made you interested in investing in this type of deal?

Cashflow in an up in coming area of Columbus Ohio C minus blending to a C plus

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Local lender - Perpetual Federal Savings Bank

How did you add value to the deal?

General maintenance with a few HVAC system replacements

What was the outcome?

Sold with 5 offers in the 1st weekend

Lessons learned? Challenges?

It's okay sell if you can make 10 years of cashflow in a sale.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Columbus.

Purchase price: $89,000
Sale price: $129,500

Cash out refi duplex purchase, one year later, 1031ed into an 18 unit

What made you interested in investing in this type of deal?

Was searching for two duplex purchases from cash out refi on a duplex cash purchase in 2018

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Local lender - Perpetual Federal Savings Bank

What was the outcome?

Purchased for $89K sold for $130K, 1031ed profit in 18 unit

Lessons learned? Challenges?

It's okay to sell in order to scale

Investment Info:

Large multi-family (5+ units) buy & hold investment in Columbus.

Purchase price: $380,000
Sale price: $488,000

Purchased in 2019, sold in 2020

What made you interested in investing in this type of deal?

Monthly cash flow made me interested in this deal. Did not plan on any appreciation. Due to lack of multi-family inventory a year later decided to put on the market.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Local lender - The Savings Bank

What was the outcome?

Sold with 5 offers in the 1st weekend

Lessons learned? Challenges?

Enough cashflow for the expenses but a lot of drama in C class. Having a property manager that can deal with all the challenges is critical.

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $56,000
Sale price: $67,500

In-N-Out of C class

What made you interested in investing in this type of deal?

Was in process of expanding C class portfolio. Decided to move in the direction of B class rental properties after purchase.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Cash

Lessons learned? Challenges?

Vision of B class portfolio. Searching for more stable rental income properties.

@Michael P. I think it’s in Kentucky, I would go with Columbus as well🤣

@Gaby Liu

Brian Artz (614) 221-0944

GM Dane,

Pleasure to meeting on BP. Central Ohio is a great place to be in these uncertain times. 

@Melinda A. Harleaux

Columbus Ohio

Thank you for the shout out Raul!

I’m absolutely slammed. Pre-Covid19 Columbus Ohio already had an inventory issue. Now many seller clients have decided to wait until May or June to list their properties  for sale which has compounded the inventory issue. The market still has the same amount of able, willing and ready buyers ready to purchase. Three weeks ago I experienced properties that normally receive  5+ offers went down to receiving around 2 or 3 offers but within the last week we are back up to 5+ offers on homes that are priced correctly. The lenders that I work with have not tightening up and are keeping busy for qualified borrowers. I meet a lot of clients on BiggerPockets and internet advertising. Stay safe!