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Updated 8 months ago on . Most recent reply
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First Time Real Estate Investor
Hi, I’m Carlos. I’ve been thinking about getting into real estate but have been having a couple concerns before buying my first property.
Current Situation: I am trying to househack a house in Cincinnati as I have 4 people who have agreed to live in the property that I buy. I am looking at going up to 400k for context.
Concerns:
- All of the multi families I have seen in Cincinnati are really old and would need a lot of work. As a first time buyer, I don’t think I have the skill or knowledge yet to make a purchase where I’d have to put in a lot of work
- If I buy a 5 bedroom single family, I am worried that once everyone moves out, it will be hard to find people who would want to rent out a 5 bedroom as well as I’ve heard they’re harder to sell in general.
- I moved to Cincinnati ~2 years ago for work so I don’t know what areas of Cincinnati are relatively safe and would be ideal for renting out in the future because ideally I would want to keep this property long term and use it as a rental property.
Any suggestions would be amazing. I am new to this and I also feel like I’m being held back due to being worried I’m making a wrong choice maybe because I’ve never purchased a property before… idk but would love any input! Thank you in advance!
Most Popular Reply
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I would start with a turnkey duplex that has been renovated. Get a 2 or 3 bed and rent out the rooms to your people. If they move out, you can rent the vacant side to a tenant quickly, as the rental demand in Ohio is very high right now.
I can send you a graded map of Ohio that will help with determining the areas.
- Samuel Diouf
- [email protected]
- (614) 662-1652
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