All Forum Posts by: Brad Clarizio

Hey Jonathan, just sent you a request. I am a real estate agent and own 15 rentals myself in Columbus, all of which I've acquired through the BRRRR strategy. I have all the contacts you'll need.

Unfortunately, like all things real estate, it depends. Some appraisers will only use half the average value for below grade. For example, if the average is $100/sq ft, they may only calculate a finished basement at $50-60/sq ft. This prevents hugely inflated prices for a finished basement (we all know a finished basement doesn't add THAT much value). 

This can be the case for a finished attic as well.

Hey Rashaniqua- 

I'd recommend using the average price per square foot of the homes that sold in that area and multiply it by the number of square feet you have. But remember, there is a limit. For example, if all the houses are selling for no more than 300k, even if your house is way bigger/more bedrooms, etc., you may not get a whole lot more than 300k. Every neighborhood has SOME sort of ceiling (sometimes it's a 200k window, sometimes it's 20k). 

If you'd like me to offer an opinion, let me know. I am a licensed agent and have no problem giving you a quick opinion on what the ARV would be.

Best of luck! 

My girlfriend AirBnB's a 1 bedroom apartment in Grandview and she has to block days just to keep up. Of the days she has available, I'd say it's rented 80% of the time. She makes excellent money, but if you aren't up here you'll have to find someone to change sheets every day, wipe down, etc. She does it because we're local, but it'd be a real PITA if you don't find the right company. 

Good deal- just as a comparison, I have 2 (2) bedroom properties in this area that rent for $675 each. Seems to be great value for the money! 

Keep it, 100%. I’m an investor and a realtor in columbus. Do everything you can to keep it, even just as a decoration. 

I won't be much help with Lima specifically, but if you had to take a guess on the quality of tenant you'd get for $300-400 a month, what would you assume? I'm sure there are some exceptions, but I'd put your vacancy rate much higher than the recommended 10% on that low of rent, and increase your projections for eviction costs (if done through an attorney (required if the property is in an LLC.), you're looking at $300-400 each time.

Also, owning 1 unit from afar is difficult I'm sure, I can't imagine 100+. Impossible? Absolutely not. A much larger challenge than owning 20 higher performing units? I'd say so. 

My girlfriend runs one in Grandview...well, she just got it set up last week. Seems to be a hit already. Of all my rentals, I don't think any would be suitable for AirBnB, but love the idea of what some are doing with it. As a "consumer", I love them! Rarely stay in hotels anymore. 

I've also got a title company I'm literally doing a QCD with right now (I just signed the paperwork about 5 minutes ago). PM Title in Grove City/UA/Dublin...they're amazing. 

Hey Carlos- are you currently working with a local agent? Oftentimes, the "free to use" websites are 1-3 days behind, and by then, the properties are off the market.