Tristam Griffith
Phone: 614-506-3086 Mobile: (614)506-3086 Email Tristam

Investors in Columbus, Ohio

There are many types of investment opportunities in Columbus, Ohio. 

There are 15 universities and trade schools:,_Ohio

There are also many major employers.


All those universities and employers lead to the need for housing in both purchases and rentals.


My main three types of investment opportunity are:

1.) Buy rental properties and hold them.

You buy a property, complete whatever repairs need done, then rent the home out.

You can buy homes from $25k to $300k. Obviously if a house is cheaper it doesn't command as much rent. The higher the price, the higher quality tenants, and less hassle.


2.) Flipping houses.

Here is how I do my personal flips.

Find a house. 
Assess repairs with contractor and get a bid.
Buy the house.
Pay for repairs. 3-6 month turnaround. You always want the closing to occur after the 6 month market to utilize FHA loans, or you need two appraisals.   
Remarket the house.
Sell it. The goal is always to clear $30k or more.
Here's how I do "hands off" flips with investors.
Investor pays for the house. The house is in the investors name, not mine. Investor pays for repairs directly to contractor in 3 draws. 
Re-list the home and sell it. 
At closing the investor pays a regular commission of 6% (3% to me and 3% to the buyer's agent) for the sale and I get a $10k, or 10% of sales price bonus on the sale for managing the whole thing. That way, the investor has total control of the money throughout the process.  I pick all the necessary repairs and finishes based on area, manage the contractor, and send photo updates.
So, on a $30k profit, I get $10k, the investor gets $20k. 
3.) Owner financed mortgages.
You buy a house and complete any neccassary repairs.
We re-list the house and advertise the owner financing. A buyer likes the house and wants to utilize owner financing. The buyer fills out an application, I run his/her credit etc.. Must be over 600 and they must put a minium of 10% down(sometimes up to 25% down.) You decide on the loan length. 5-10 years. They pay monthly with 6-8% interest, depending on what we negotiate.
Now-why would a person pay this high interest, when rates are at 4%??? This is THE BEST way for self employed people to get a mortgage, without having to claim more income and pay more taxes for the required 2 years to get a mortgage. So, instead of them having to claim $75k a year for two years, and pay taxes on that to qualify, they can continue to claim their steady $40k after deductions, saving them literally around $15k in taxes. Additionally, you aren't a bank. They also save about $3,800 in origination and random mortgage fees. So, they are happy to pay 6% interest, and many times, happy to pay 8%, the legal maximum in Ohio. 
You can do up to 3 owner financed sales in a year without a mortgage brokers license. Please remember, you usually get about $5k above market price for an owner financed deal too.
So what happens if they stop paying? You foreclose and re-sell the house. It's a win/win.