Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Classifieds
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago, 07/01/2023

User Stats

6
Posts
0
Votes
Jason Combs
  • Rental Property Investor
  • Mason, OH
0
Votes |
6
Posts

MF package, land contract

Jason Combs
  • Rental Property Investor
  • Mason, OH
Posted

Hello!

I am offering a unique opportunity as I am choosing to sell 3 MF properties in Cincinnati area. These properties are not on market

1st property is directly off campus of University of Cincinnati (across street form Hughes on Mcmillan) 10bdrm, 4.5 bath, 3 kitchen, walkout basemnt, 7 car offstreet parking, zoned C-NP. Current use is residential. Rents for $5200 (well under neighborhood avg of $750 per bdrm), landlord pays NO utilities. Many updates throughout years, needs some cosmetics currently(same group of students since 2017, engineering Frat) Exceptional location in CUF, massive growth potential

2nd property is just off campus of Miami University. All brick 8 Fam 1/1's. Fully rented. 7 of 8 units updated in past 5 years, last unit in good condition. 4 longterm elderly tenants. current monthly income is $4200 (under the area avg, $650, due to elderly tenants, very reliable and clean though) Landlord pays water/trash only.

3rd property is in Hamilton, OH near Spooky Nook. 6 Fam, 2 buildings, 1 parcel. 1-3/1, 1-2/2, 4-1/1. updated units, plumbing, electric throughout. 2 units currently set up for AirBnB (see spooky nook) fully furnished w/ STR permits. Current monthly income around $5500. landlord pays water/trash and 1 gas meter for laundry/storage area heat. Huge connected garage currently NO tenant, should bring in extra $500 month. This property can easily bring over $7500 month.

My wife and I are opening restaurants and I simply cannot manage all the spinning plates any longer...and I havent found a property manager that does it as good as I do....sooooooooo here we are.

About me. Long time investor, wholesaler, house flipper and landlord. licensed Realtor for 18 years (KW) I dont BS and dont appreciate people who do. I know exactly what I have to offer.

Heres the deal. get ready.... I am looking to land contract these properties as package with 10% down, 2 year land contract at 7.5%. I borrowed some against these properties last year to open restaurants and have a pre-pay I'd like to avoid. 

Asking $1,350,000

Currently these properties are bringing in $14,900 month...rents at todays standards would bring more like $19,000 month...do your own ROI math

If you are interested in this deal, prior to any showings or sharing of sensitive info you must provide me with a POF or letter from your bank showcasing your ability to make downpayment. I do have a local, investor friendly title co I like to use.

These are turn key investments with little need. I could list and sell them easily but again, looking for a land contract partner. This is real, Im not trying to fish for out of state investors and honestly doubt I'd have time to help you out anyway(though I'm the guy other's call when they need help or have questions)

Offering
Cincinnati, Ohio

Loading replies...