C+ Neighborhoods in Greater Cincinnati/Northern Kentucky Area

[Michael Jake Higgins]

Cincinnati/Northern Kentucky Real Estate Investors,

I plan to purchase a 1-4 unit investment property in a C+ neighborhood in the Cincinnati/NKY area, with a 6%+ cap rate, and 10%+ cash on cash return rate in the next 30 days .... What neighborhoods are you currently investing that meet these conditions?  I would love to hear your feedback and connect with property managers, sellers, MLOs, inspectors, and contractors that service this area.

Based on my research, I have been looking in the following cities, what cities would you add/remove/change?:

• Northern Kentucky: Covington, Newport, Bellevue, Fort Thomas, Highland Heights, Dayton, Fort Wright, Fort Mitchell, Erlanger, Florence
• Cincinnati: Oakley, Hyde Park, Norwood, Mount Lookout, Pleasant Ridge, Columbia Tusculum, Madisonville, Corryville, Clifton, CUF

Lastly, would any investors happen to know of any general pros or cons regarding OH vs KY investment properties that I should be considering?  My very general/early perception right now is that Hamilton County property tax rates are more of a headwind to investing than NKY property taxes.  Beyond property tax rates, I have not recognized any different factors which could make one side of the river more appealing than the other but am still diving deep.  

I appreciate and welcome any feedback.

Thanks

[Dave DeMarinis]

Property Tax are definitely a huge influencer. What rents (and how many bedrooms) are you planning for this property. I think a 6 cap is very low for that class of product and number of units. I think most locals would expect that to be far closer to a 10 cap.