Adventures in Real Estate: Pro Tips from the Property Flippers

Spring Valley, The Investor's Bank
6 days ago
5 min read

Bob and his family are no strangers to moving. He tells me, "Every move is a stopping ground on the way to the next adventure." Holding true to his mantra, Bob saw his chance at a new adventure in 2023. While living in Los Angeles the opportunity to restore a large, dilapidated 2 family circa 1911 in the city of Hamilton Ohio was becoming a reality.

The city was accepting RFPs for this project as a way to invite private investors to help with their downtown revitalization efforts. This huge undertaking aligned with so many of the goals Bob and his wife were targeting next. It was a chance to bring their growing family back to the local area where they both grew up, have an impact on the community and make a real estate investment with a potential major upside.

Bob's RFP won over the municipality, and he was awarded the almost 7,000 sq ft property for $25K. Bob estimated it needed about $400K to restore the 2- 4 bedroom units and add living space in the basement and attic. Bob and his wife decided they would live on one side and rent the other.

Bob recounts his nontraditional story of real estate investing:

I am still early in my flipping career and truthfully am not much of a flipper at all. I initially became interested in real estate development when I was 16 and working as a laborer for a local developer and general contractor as a laborer after school and on weekends. After studying Construction Management at BGSU, I moved to Phoenix, AZ and spent the first 8 years of my career in the heavy civil construction industry. I was fortunate enough to work on numerous large scale infrastructure projects including freeway expansions, wastewater treatment facilities, and industrial facilities for contract copper mining and processing in Arizona. After moving to Phoenix in 2009, at age 23, I bought my first house in one of the hardest hit markets of the 2008 recession. Over the next 5 years, I would live in that house while renting the other bedrooms to friends. This allowed me to build up my savings while still covering the mortgage. Thanks to a job transfer to Los Angeles, in 2014, I would go on to sell that house for a profit. To date, this is the only property I have ever owned and sold.

Moving to Los Angeles, buying another house was not in the immediate cards. However, I still had strong ties in Phoenix, so when an opportunity presentenced itself to purchase an owner financed condo in Scottsdale, AZ, I took it.

A career pivot took me to the multi-site commercial construction and development industry. This is where I have spent the last decade of my career. I have been given the opportunity to work with many clients, companies and private equity firms that specialize in real estate development at scale.

In 2020 the COVID pandemic helped my wife and I to purchase, in an off market deal, the single family house we had been renting in Los Angeles for 4 years from an older couple who owned it. I spent that entire summer completely renovating the home from top to bottom. The project included adding new structural elements to provide an open concept kitchen and living area, a new kitchen, two new bathrooms, all new flooring, and a fully synthetic turf lawn and drought tolerant landscape.

Historically low interest rates of 2022 helped me partner with my oldest brother-in-law to purchase the house next door to my in-laws home in Fairfield Township, OH and turn it into a cash flowing rental.

While still living in California, in 2023 we had the opportunity to purchase a distressed property from the City of Hamilton for significantly under market value. As Hamilton natives, my wife is also 1 of 9 siblings, we were excited for an opportunity to move our family back home to raise our 2 daughters. So, in July of 2023, we packed up our house in Los Angeles and moved back to Ohio to take on the Main St. duplex.

Now that this project is wrapped up, Bob's mind is racing with ideas to further enhance the development of the Hamilton area. This summer, he begins his next Hamilton project, which he obtained through the same process with the city as his duplex restoration. The upcoming project is a 9,000 sq ft mixed-use facility located in the town center. If you have interest in connecting with Bob to explore how you can be involved in Hamilton's revitalization or future investment projects, he invites you to reach out to him, bpohlman86@gmail.com or by any means listed in the brochure below.

Tips from the Flipper

I am extremely far from being a knowledgeable or seasoned investor. That takes a lifetime of learning and making deals. I am in my early stages of real estate development so offering advice to other investors is not my place. However, after 18+ years in the construction industry, working across multiple sectors and on hundreds of heavy civil, residential or multi-site commercial projects, I can pass along a few of my favorite sayings or words of wisdom for others:

Measure Twice, Cut Once
When working on historic projects, buildings, sites etc., remember nothing new will fit anything old
The most expensive phrase in construction is "Just put it over there for now."
Always remember the 5 P's: Proper Planning Prevents Poor Performance.

The Financer

Bob's risk paid off. He recognized the economic benefits the city-supported initiative to revitalize the community would have on property values. The city's collective efforts are also paying off. US News & World Report ranked Hamilton Ohio 4th in the best places to live in Ohio in their 2025 reporting. Cincinnati took the 12th spot.

The duplex had a solid structure with well-preserved inlaid floors, pocket doors, stain glass and millwork that he successfully restored to increase the appeal of the historic home. Additionally, he was able to transfer his large scale industrial real estate experience to effectively bid the project and understand the scope of work required.

Bob used conservative rental projections on his proforma to further ensure the numbers met the criteria for a good investment. In the end, the rental rate exceeded the expectation.

Owner-occupied investments allow for more lending options outside of standard investment financing.

In our interview, Bob told me Spring Valley Bank was the only institution that would give him the time of day about this project. It's scenario like this that bring our expertise in real estate and banking to the forefront.

This was a project well done.

Spring Valley Bank is your local community bank offering our investors SOLUTIONS in 2025: