All Forum Posts by: Vincent Gable

3 units listing for 200k 2 units rented 1 for 1000/month 1 for 975/month  market rent is 985

great schools and low crime suburb/rural town its about 20 min from the outter belt

i had a property come across my desk today and after quickly utilizing the 4 square method i think that its a good deal. so i came on BP and used the calculator and i'm seeing a cash on cash of around 20ish percent. this property is located in B area suburb/rural town just outside of the city. the schools are good and out of 3 units two are leased and i'm sure it would not be hard to get the 3rd unit leased quickly. even with out the 3rd unit this place will cashflow. I'm going to see the place tomorrow and if it is in good shape i would like to make an offer. just wanted to get the thoughts of my peers on if they like these numbers. maybe there is something im not seeing. i guessed about 10% on the vacancy, maintence, cap ex. but the place has been updated and from the MLS listing it does not really need anything to be rent ready.

please share your opinions and insights if you have a moment

hilltop and linden are workforce class neighborhoods. c- would be accurate. there is crime in both, but both have opportunity just because most investors will overlook them as viable options. I've found success in linden and will continue to invest there. I can guarantee that at least 3 other people will tell you different. I personally dont care for the hilltop but there is opportunity there also, just depends on which parts of the neighborhood you choose to invest in. Im typing this from a very nice area of the hilltop from my GC's office while i wait for a meeting. You walk 2-3 blocks and its pretty run down. these neighborhoods are street by street basis, you just need to understand the neighborhood or know someone who does. if you can find that you can find opportunities that you can take advantage of.

Yes everything is in columbus, im from here so i found it easiest to get started in a market that i know. i understand the rents, tenants, and areas very well. so it makes it easy to get the right places for the right prices and get the right people in them.

hey welcome, Ive been in the industry for the past 3 years. i've made my way to 4 doors but hope to be at 8 by the end of 2020. im always open to talking and networking with others who are looking to find sucess in this field. Currently im only in SFH but hoping to transition to multifamily next. What type of investments are you currently working with?

hello Natasha, im going to try to answer what questions i can. Im not expert but let me see if i can help by breaking your post down to smaller parts. Im glad you want to get a start in real estate, i fell into the industry and have been very pleased with the opportunities its provided. I can understand not wanting to work for anyone else, but if you dont have a current position you should consider entering the industry at an entry level so you can learn and save money. I would suggest you get david greene's book Buy,Rehab,Rent,Refinance,Repeat. its less then 20 bucks on amazon and will really help you to get a good grasp of exactly the steps you need to take. I read it and have been able to get a really clear vision of how to leverage my time and efforts to start building wealth in real estate. I like to hear that your listening to podcasts, keep that up, listening to people with experience and reading will help you find success. I think your right that building your credit score will help you. One of the hurdles im overcoming is not only credit but showing the proper income on my taxes to get refinanced on properties. I dont know much about wholesaling, i was just reading another post this morning and they were talking about how in many states it is illegal. I think that maybe finding investors or just working and saving your own funds is the better route. I also like your idea of getting a loan on your first place, you can look for a douplex and have the tenant on the other side pay for the whole mortgage. This would benefit you because now instead of paying to live you can save that money you are currently spending on rent/mortgage to invest in your next property. 

i like seeing your intrest and hope to hear more about your journey. I hope i was able to shed some light on your concerns. Please feel free to message me, im not an expert but im always willing to talk and try to share what i've learned so far. I saw you mentioned your in ohio but not what city. If you happen to be in Columbus, id be more then willing to link up for coffee and talk more. 

hope this helps

Hey glad you took notice of the Columbus marketplace. its great market that i've found some success in. I have a great GC who is fair priced and always does a++ work for me. I also just found a great handyman and an amazing cleaning service both are extremely well priced, im always amazed at the price they tell me when i use them. i'm only at 4 SFH myself but i'm working to enter the multifamily space within the next 6 months. I PM for myself but if i can be of any assistance please let me know. There are some good people in the city so i hope that you can make connections and see how welcoming this city is.

well yes for that specific flip but also your in general plans for flipping house because if your going to go to the trouble to write a business plan for one house why not write a larger plan and see if you can get funding for all of it. if you ask for money for 5 flips and they say no but counter you with money for 2-3, then your already getting more then you asked for. this also allows you to not have to keep coming back each time you want to flip. 

However, as i continue reading i keep seeing people in various books/articles say to write down your goals, make a plan. So even if its just informally you need to write down where you want to get to. this gives you an outline of what you need to do personally to achieve your goals. 

again i'm no guru, ive only acquired a few doors but thats how i would handle this situation. i hope it helps

i just started using tellus and so far so good. got my first tenant signed up this morning and got to see both sides of the app. on his end he can set up auto pay or make a one time payment on rent. it also allows for him to put in work orders. on my end i can set up expenses, communications with tenants, see who has paid rent and set up late fees. its all free but since i have not set up anyone else yet or collected rent because its mid month i couldnt give a total feedback yet. if this all sounds good then PM me and ill let you know how it went here in the coming weeks.

Welcome to Columbus, Ive been investing here for the past few years but lived in the city all my life. Things have been moving in a very exciting direction over the past decade. Im sure you will find success here in the city. Im hoping to move toward multifamily myself here over the next year. Ill send a PM about your availiblity

Hey Im also in Columbus, like Josh im a buy and hold investor. But i can say from several classes/books i've taken in business or entrepreneurship the best way to find investors is put together a business plan. Write out what you plan to accomplish, how your going to achieve those goals, and how an investors money would be spent. if you are able to clearly articulate your plan and show them how they will make money you will have documentation to show them a clear path to successful investment on their part. 

also i see a few familiar faces in this thread who i know to be guys on the same path as yourself. I agree with Josh's view on networking and meeting people. I've been trying to reach out to people and get my core 4 together. Most people who have found their way to BP and are active on here are looking to find success in real estate. We are all serious and focused individuals so while we might not be the investors your looking for they are out there. put your plan together and if it makes sense the networking you do now will put you in contact with who you are looking for.