All Forum Posts by: Brad Clarizio

Rachel Ford...no one in Columbus is better, I'll PM you her number. 

There are some large investors here that swear by her. I switched about 3 months ago and she's been fantastic. 

Joe Sauk at Arlington bank has done 2 houses for me under 50k. He does require 25% down though. 

I typically work with the same contractors, but have no issue finding others that are willing to do these things for the prices above. I am rehabbing a property right now and can send you my budget with actual prices if you're interested. Down to the cent- just shoot me a message. I'm under 12k for a rehab that had to have new HVAC and 12 beams installed in the basement. :) 

Finding deals takes a bit of extra work, but when you're rehabbing houses consistently for under 15k and NOT skimping on the details, it pays off. 

For the record, my next rehab will be 20k, only because I have to redo the siding, gutters and remove a large porch that is sagging on the back of the house. That alone is 7k. 

 I may have misunderstood what he was asking, but it doesn't look like he mentioned re-doing the kitchen, just rearranging. Let's just get wild and say it'll cost 2k to rearrange a kitchen (again, I would never pay that), but we're still at 15k. 

 Hi Brian- yes, it does. I've never paid over $50 per door to install, and I typically do them on all my houses, and that's with different contractors. $120 for a door plumb is outrageous in my mind. It should take an experienced contractor less than an hour. I don't know many people who make $120 an hour. 

Typically I get the new pre-hung doors for $75 at Lowes or Home Depot and give my contractor $50 each door. 

 I do not do the rehab myself, but rather piece together a contractor team. I'll give you my numbers based on what you mentioned above:

Kitchen Update: $1,000

Bathroom updates: $2,500 for both

New windows: $2500 installed (based on 12 windows)

Carpet: $1.50 per sq ft

Paint: $300...do it yourself or pay someone $50 a room. You're not trying to win an artistic award

Door replacements: $125 per door including labor

AC/Furnace: $3,750

Landscape: do it yourself or pay someone a few hundred to spruce it up. Again, you're not at the parade of homes. 

Under 15k with a 10% contingency. I just saved you 16k. :)

Hey Ryan...might I ask what rehab needs done that would total up to 31k? I have rehabbed over 10 houses in Columbus and have never spent more than 15k, especially for a house that's only 1400 sq ft. I did one that was 1700 from floor to ceiling for about 14k, and that included a roof. 

Hi Rudi,

I'd be interested in meeting up (regardless of lunch). I own a number of SFH/Duplexes in Columbus. Since I'm not yet a licensed agent, I'd be happy to share my perspective. I've been in Columbus all my life (26 years), so I can give you context around areas to target and areas to avoid, pending your goals.

I have a full time job, so let me know the day and I can ensure I have 1-2 hours cleared out for lunch. 

Thanks,

Brad

There's a lot of value to being hands on with your first few properties. I'd recommend getting a full understanding of the business and it's inner-workings before handing it off to someone else, even if it's just your first 1 or 2 units. You'll have a really healthy appreciation for what the PM's do. Think about this: would you ever open a restaurant without first having waited tables or being a chef? Learn the trade! 

Great goal- if it doesn't make you uncomfortable, it's not aggressive enough. That's certainly achievable. Good luck man! 

Hi Kyle,

Any particular reason you're looking to get connect with a PM company soon? Do you have any units yet? I've been self managing 7 units for years with no issues, even with a high stress, high volume of work job. Don't put the cart before the horse.

And to John's point- Columbus is still a great area to be in. Yes, house prices have went up significantly in the last 18-24 months, but there are still great deals to be had. It just requires more work. 

Best of luck! 

-Brad