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Moving "Downtown"- Help


Zx2guy19

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It's too bad, because East Franklinton (I corrected my original post ;)) Is a great location to walk/bike downtown...most of the garbage has already been leveled, but there's not a lot to buy.

 

There's a couple commercial buildings...just get one of those, build out a loft bedroom/bathroom and have the greatest car hangout ever. :D

 

I keep thinking about just this. A friend did that over in Cleveland. Got a steal. Now he did have to start from scratch. All said I think he ended up around 90K once everything was done.

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Thanks for all the insight guys. I didn't think I'd get such a great response!

 

I went and saw a few houses yesterday and am going to see 3 more later this week. One is a duplex a street over from German Village that I'm really considering- it's expensive but obviously I can rent out the other side and make some of the money back.

 

I have focused mainly on Olde Towne East and lost out on an awesome deal because I was in Fort Lauderdale all weekend. Pretty bummed about it.

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These houses are flying off the fucking shelf. Had 5 houses scheduled to see today and down to 3 in less than 24 hours because the other 2 went in to contract.

 

This market is unreal. Listing 2 of my houses in the next 2 weeks so I'm prepped and ready to go whenever I find something.

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This little guy just popped up

 

http://www.flexmls.com/share/gm9D/520TibetRoadColumbusOH43202

 

I literally parked in front of it last week on my way to work when I had to stop and get my daughter whatever she dropped in her car seat...remembered thinking, "that looks nice" lol

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Clintonville, pretty much yeah.

 

One other consideration there is the train tracks by 71. I can barely hear it but I am one street over and all the way up near High St. Might be too close over there, but I dont know. They run a lot of trains...like one every 2-3 hours it seems.

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Thanks for sharing! Odd that it says 1 day on market as I actually looked at that house last week. Beautiful house (I am under the impression it's a flip because of how perfect everything was), but unfortunately, it's too small for me as I intend on having a child or 2 in the next house.

 

I looked at a sweet 5 bed/3 bath in OTE yesterday listed at 235 and agreed to a price on 217 but ended up walking because the house needed too much work for the price, and the area was a street or two over from the best part of OTE.

 

1340 E. Oak St. 43205 if anyone wants to see. It was a cool house.

 

https://www.coldwellbankerhomes.com/oh/columbus/1340-e-oak-street/pid_15415809/

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And.....I'm in contract.

 

Literally a dream scenario. As a real estate investor, I'm obviously looking for some type of value in a house, whether it's passive income or equity. This place accomplished both:

 

https://www.coldwellbankerhomes.com/oh/columbus/1192-e-rich-street/pid_15180583/

 

I get BOTH houses, one of which is currently rented for $1,500 a month.

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Very cool. Which one are you going to occupy?

 

And the Tax man cometh. Saw the county auditor is going to jack up most property values 10% soon.

 

 

Sent from my iPhone using Tapatalk

 

I'll be in the blue one- the red one is rented, and unfortunately, they get the garage. Rest assured, that'll change at lease renewal time.

 

Amazing what a year does. The Streetview is terrifying.

 

Looks like you are at least getting in on the second, or third floor here. Hopefully the value keeps going up for you since the dirty work is done!

 

Yeah man, they used to be giant pieces of shit. I think they only paid 28k for them, but I guarantee they have 150k-200k between the 2 rehabs. Everything in the house is perfect- windows, HVAC, roof- all updated. I have to do nothing.

 

Worst case the market stays the same and I move in a few years and collect $3000 a month on an $1800 a month mortgage.

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I've looked at 8-10 houses in the last week and they were all ranging around 200-250k. I'm getting a finished product, times 2. I can't think of a better situation!

 

The downside of course- the houses are kind of small. I'm coming from a 4 bedroom, 1700 sq ft house in Hilliard, so this will be a change. My biggest concern is the lack of garage. I might actually build a small one car behind the blue house.

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And.....I'm in contract. I get BOTH houses, one of which is currently rented for $1,500 a month.

 

Worst case the market stays the same and I move in a few years and collect $3000 a month on an $1800 a month mortgage.

 

My house went on the market today at 3pm and I've already got 4 showings scheduled for tonight. Christ this is crazy

 

:thumbup:

 

Very nice! Great success!

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This little guy just popped up

 

http://www.flexmls.com/share/gm9D/520TibetRoadColumbusOH43202

 

I literally parked in front of it last week on my way to work when I had to stop and get my daughter whatever she dropped in her car seat...remembered thinking, "that looks nice" lol

 

More than $200K for 0.11 acres?! Holy HELL I'm glad I prefer country living. Where I'm from you can get about 6-8 acres and a 2000-4000 sq ft house for that!

 

...but unfortunately, it's too small for me as I intend on having a child or 2 in the next house.

 

I looked at a sweet 5 bed/3 bath

 

Whoa...

 

And.....I'm in contract.

 

Literally a dream scenario. As a real estate investor....

 

Nice!

 

That's a really unique scenario, and I'm a fan of the economics if you rented out both of them. Let alone living in one and having the other rented.

 

This.

 

My house went on the market today at 3pm and I've already got 4 showings scheduled for tonight. Christ this is crazy

 

Cbus is a hot market right now. All surrounding communities are prime. Congrats. Wish nothing but the best.

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Check out Franklinton, EAST of 315. Shady, but you can be sure that's the next area to blow up with COSI being rebuilt and 400 W. Rich/Land Grant Brewing adding a lot of buzz to that area.

 

Other than that, be prepared to go condo. You can get garages, but working on your junk may be difficult. I know a couple of car guys (single) living downtown but neither does more than car washing at their places...no real room to store major tools and don't want to draw attention from peeps walking around downtown.

 

I applaud you for this. There are certainly compromises, but Ohio is a great state population-wise to get a true downtown-living experience yet still have relative ease getting around. I just came back from Christmas in Philadelphia with family (been doing it for years) and while a neat city, you'd need to be a millionaire to live well downtown, or you're in some sh!tty neighborhoods for miles just to get by. If I lived downtown, I'd have a really hard time not plowing down cans of Oranjboom at 16-Bit, Mikey's Late Night Slices, a Big Rig burger at Walrus, drinking Old Chub at PINS...so many fun places to be down here. :thumbup:

 

I second this man! Franklinton is the next big thing! Have you seen Broad St lately, just west of COSI? ... and wherever you go, invest in a nice bike! The bike trails throughout Columbus are the best! Makes for a good Saturday morning!

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Your house will be sold by next week- hilliard is a honey pot right now- on top of how hot the market is.

 

The house received 5 offers after being on the market 48 hours. I accepted the highest and best and it fell through (luckily for me I get to keep the $1,500 earnest money) and ended up going into contract with the next best offer, which was full price (the other was above list).

 

Scheduled to close on both houses on 2/20!

 

When you get the house, would you mind taking a closer picture of the front porch, I really like the railing and would like to replicate that for my rear deck reno this coming spring.

 

Absolutely man- shit, come over and have a beer and take measurements.

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