Multi family homes in Cincinnati

[Noah Westfall]

Hi- I’ve lived in Cincinnati now for approximately 9 years and am looking for a multi unit building in the Hyde Park, Oakley, Columbia-Tusculum & Mount Lookout area. I live in Hyde Park and would like to manage the property on my own if feasible (so 2-4 units would be ideal). We currently own a townehome that we rent in West Chester that was our first home. We don’t make much money on that property at all, so I’m looking to be cash flow positive day one. I’ve been looking for a while now, but have gotten some cold feet with the covid situation. How are landlords doing with that situation? Any tips for looking for multi unit buildings? It seems like they get picked up very quickly when they hit the market. Has anyone had success cold calling owners of buildings that are currently not on the market? We live on a street that has 4 multi unit properties on it that all seem very well maintained. Any advice would be appreciated. Thank you.

[John Lenhart]

Multi market is still tight. 
if you are looking to cash flow, it is going to be a challenge in Hyde park, Oakley or mt lookout right now. Those are the top neighborhoods so they go for a premium and rent easy. 

you can still make it cash flow if your down payment is large enough, but that is a challenge for a lot of people. 

have you thought about some other emerging suburbs like Norwood, pleasant ridge, mt Washington. You could also find some value still in Silverton and Madisonville but those areas are greatly improving.