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November 11 Meeting Notes

Meeting held at York Golf Club (7459 N. High Street) in Columbus, Ohio.

REALTORS/AFFILIATES: 24/7 (2 Guest – Summer Baily from eMerge Real Estate and Debbie Marshall-Guzman from Keller Williams)

DECEMBER 9 – Holiday Party from 4-9 p.m. Will do wine and beer at York Golf Club. Carfagna’s will do the catering. Jim Wootton will present some remarks, new officers will be installed.

AFFILIATE DAY

  • Tom Castor, E-Consulting & Engineering. Lower cost electricity and natural gas. Gas is going through the roof so great time to talk to him.
  • Bill Palte, Palte Insurance. Run into something that doesn’t make sense give him a call and he will see what he can do to assist. Protecting your Paradise.
  • Brent Johanson, Cambria Consulting. Opportunities. State has a fund to clean up old gas station sites. That are currently considered non usable due to the damage. Funds go to city/county but they will lend up to $600,000 to do brown-field clean up.
  • Vernon Morrison, First Federal Community Bank. Merged former locations up to speed with IT and such.
  • Mario Jackson, Household Mortgage.
  • Laurel Flanagan / Adison (Title First Agency). Adison is a good golfer.
  • Marc Zipser (LandSel Title Agency). Thanks for business throughout the year. Commercial is my specialty. Licensed title agent.

LAST full meeting of the year. New officers will take office on December 9 during Holiday Party. Cole Greisinger will move up to president; Toby Boyce will become vice president, Robert Eggleton (recorder) and Diana Hall (Treasurer) will return.

PRESENTATIONS

  • Day Care. Gender Road at 33. Business and buildings are for sale. 14,000 square feet total. Could expand into third building. Day care is $900,000 with 200-person capacity and 140 currently – need more teachers to reach max. owner is developer for two of three buildings. If day care moved, playground could be 4th building. $3,150,000 for buildings and $900,000 for day care. Third building is leased to a catering company and two other smaller tenants. Day care is owned by building owners but does pay rent to building. Martha Hunley (614-314-5555) / Tony Yacoub (614-625-3867).
  • 1171 Wilson Avenue. 3-bedroom 1 bath needs to be finished. Comps $250,000 – 350,000 on high end. Listed at $225,000. Could hold it for rental or flip it. Updated kitchen – new cabinets – and other updates in the past six years. Deck and two-car garage. Potential rentals $1500 per month. Troy Fabish (614-989-8976).
  • Sunbury & McCutcheon commercial land. Less than 2 miles to Easton. In path of progress. Sunbury Road goes through the parcel – leaves about 1.6 usable. Zones Office. Great visibility on this corner. $300,000. Martha Hunley (614-314-5555).
  • 434 East Rich Street. Pretty property. Have rooftop deck that comes with it. One parking space included with on-street parking also. 1422 square feet. $233 condo fee. Downtown. Great access to library, Columbus State, CCAD, etc. Two offices built out. Keep it open concept or add more offices. Would be great for real-estate agent. Wants to sell furniture with the property. Residential above this unit. $374,900. Martha Hunley (614-314-5555).

CASH / 1031 EXCHANGE

  • Need $1,500,000 in exchange. Looking for office space. He would occupy about 15,000 square feet. Bullpen area and a few offices. Biggest thing – 40 employees at any given time – is parking. Will go bigger if he can see the bigger piece being rented. Go up to $5,000,000. Cole Greisinger ().
  • Three car garages each with eight bays each. Been in business since 1964. Retiring to Florida. $2,125,000. Tony Yacoub ().

NEEDS / WANTS

  • Church for a year. Fuji Academy. Immigrant children. Teach English and soccer. Very well-funded with a national academy. Has no church lease. Looking for about $3,000,000. School / church / building with lots of walls. Clintonville area preferred. Troy Fabish ().
  • Bike repair shop in Johnstown – very area bound – will now consider vacant land. Troy Fabish ().
  • Dispensary. Needs at least 3,000 square feet if existing. Plain City area. Troy Fabish ().

QUICK PITCHES

  • Single-Family on Summit and Eighth. 3100 square feet. 7 years as a rental. $2300 below market for the area. Six bedrooms, 2-1/2 bathrooms. $379,000. Nathan Yules (614-537-2550).
  • Condo free and clear in Canal Winchester. $135,000 value. renter vacating end of the year; it should rent for $1,250 a month. Willing to trade into something larger with about $50,000 in cash. Martha Hunley (614-314-5555).

LENDERS: Anything new with financing or SBA?

  • Vernon Morrison. 90% is standard program. Will do a first and second mortgage on the 90%. Personal property is on chattel so it can be stretched to essentially 0% down.