All Forum Posts by: Tristam Griffith

I would buy a duplex or 4plex in Columbus, Ohio. Where the houses are cheap, and the jobs are plentiful!!! In fact that's exactly what i do, do....lol :-)

Here's an example property:

https://www.biggerpockets.com/...

Hi Cameron! 

The deal with Ohio is tons of jobs, which leads to tons of renters and buyers. Just in Columbus, we have over a dozen colleges and hospitals. We also have Chase, Nationwide, and plenty of other big companies here. For the non-professionals employees, we are the startup city for food franchises and have a warehouse district on the south end that houses Target, WalMart, Amazon, Boars head meats, etc. Add in access to a well-designed airport that has nonstop flights to most of the country. The cost of living is excellent. So, with lots of well-paying jobs, lots of good schools, affordable housing, and easy access to the rest of the country via plane, it's a natural place for employers to move their headquarters, or add hubs here. That means lots of renters and buyers.

The demand for rentals is generally higher than supply.

And the returns are good. You can expect $100-$150 a door profit on multifamily units and $150-$250 a door on single family houses. That's after ALL expenses. The city and real estate appreciation is generally steady at 4% plus per year.

I would buy an inexpensive, SF home in Columbus, Ohio. Houses are cheap and rents are great. Pay cash, so the eviction moratoriums don't effect you. In this last batch, it only affected owners with government funded loans. Pay cash = no worries. We still have very low unemployment, even with COVID. You can get a 900 sq ft SF house for $60-$80k. Rent it out for a year or 2, then do a cash out refi, and do it again! 

@Kyle Reynolds

Thank you! I'll look into them.

@Kyle Reynolds

Thank you for the answer!

These thieves only broke one tiny basement window. The window is covered, because they didn't take it. They aren't covering the electric because it was theft, not vandalism. The window is $275. The wiring is 5k. Ergh..... 

At this point, I'm just looking for a new carrier. I'm getting quotes from Nationwide, AllState, and First American. Whoever has the best policy will be getting about 75 new policies.

@Jason Bott.

Thank you for the answer. The long term tenant had moved out 2 days prior. So, it was vacant, but only for 2 days. It would have been re-rented within 21 days. It just needed touch up paint and carpet cleaning. 

@Ryan Ingram

Please message me more info on Wayne Insurance Group. I'm open to any suggestions. I'm going to check Allstate as a previous poster suggested too. 

Hello all. One of my clients just got a really simple claim turned down by his Berkshire Hathaway owner's policy. 

Someone broke in, and cut all the electric out of the basement. Berkshire said theft isn't covered, but vandalism is. So, if these bozo's would have cut all the wire, and left it on the ground it would be covered, but since they took it, it's not. This seems insane to me. 

I have Nationwide Commercial on my own stuff, but that only makes sense if you have 10 or more properties. We did a full round of interviews with several carriers about 36 months ago, and chose Berkshire based on that research-which obviously didn't pan out!

What is the best, least expensive, policy for a landlord with 2 or 3 houses?? Does anyone know of a checklist of coverages that we should confirm prior to choosing a policy? 

I'm starting to research it now, but any input would be greatly appreciated! We operate a PM business in Columbus, Oh.

I'll be e-mailing available properties to everyone who responded to this tomorrow. However, a 22 unit brick complex just came up at $950k if anyone is interested. Tenants pay all utilities. Rents are $625.00 each. C+ area. It is an excellent, financeable, opportunity. It will probably go to highest and best, so plan for $975k. E-mail me at [email protected] for the mls sheet!

Hello everyone. This property is now in contract. However, I do have other properties, on market, and off market, available. E-mail me your wants / needs, how you are funding, and your expected return. I can then match your needs and expectations to properties. Because we buy / sell / manage, we have lots of properties with permanent "we buy houses" signs. They feed our "off market" opportunities. We specialize in buy, rehab, rent, and turn key. 

In B areas returns are 1%. In C & D areas returns are 1.5%, and occasionally in D areas 2%. I have one right now, I'm listing today at $48k, that gets $900 in rent. Tenants are in place, and have been then a year. 

[email protected] 614-506-3086

Please note: I get tons of inquiries for flips. We do flips, but our current clients get priority, and flips are in short supply right now.