Eliminating excuses in Cincinnati

[Jordan Cederdahl]

BP friends,

I have a very long winded question that I will attempt to make as short as possible (I tend to ramble). My wife and I had been tossing around the idea of getting into real estate investing for a while now, and have recently both decided to quit talking about it and to actually do it! About a year and a half ago we bought our first house, which was extremely outdated. We completely renovated the home, new kitchen, refinished hardwood floors, bathroom remodel, basement overhaul, new carpet, etc. We recently sold the house to cash in on the hot housing market in our area, with the plan to invest the income in to a new house to renovate as well as a small multi-family. The goal is to continue purchasing multi's and eventually apartment buildings. The problem we are now facing is 1. finding a good deal on a house to renovate and 2. my wife wants to buy a turnkey multifamily, while I would like to find one that needs a little work (she is constantly making the excuse "we don't have enough money to renovate a multifamily). So I guess my question is how do I eliminate the "no money" excuse. I have found a few multi's that, with a little work could turn some excellent cash flow, in my opinion. I can't help but feel that we are wasting time by making excuses, and I would appreciate any advice/information. Thank you

[Tim G.]

there are a couple banks in Cincy that offer loans to cover the purchase price and rehab costs.  Union Savings and Spring Valley