Grand Rapids, MI · Member since 2015 · 7 posts · 0 votes
Hey everyone,
My name is Brett, I am new in real estate investing and am trying to gather enough information so I feel comfortable with my first investment property purchase! I got my real estate license about 6 months ago in-order to try to cut out some expenses with either buying and flipping or buying rental properties, eventually selling them for more profitable property or location.
Welcome to Bigger Pockets. I am an active investor in Cincinnati and have an idea. We're looking for a little help in our deal hunt. All investors are constantly seeking deal flow. We have a pretty good stream going now, but could always use more. There may be a way for us to help you get started while you learn through helping us. If this is interesting to you, please contact me.
Welcome to Bigger Pockets. We are friendly, warm, paying it forward group interested in real estate. There is a wealth of information, which can help you feel comfortable with your 1st deal.
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@Brett Readwelcome to BP! The Cincy investors who met on BP all meet up and our next one is on Tuesday. Here's the thread to check it out and would love to meet you there:
What part of Cincinnati are you thinking about investing in?
I wish I would have got into the down town scene 4-5 years ago, however I think that train has left the station and is now likely out of my price range as it has gotten very popular over the past few years. I am thinking about the pleasant ridge area, as well as Norwood, however with the city expanding north to Mason etc. I dont think that would be a horrible location either. to be honest right now I havent really honed in on a specific location.
Once people realize how pricey Oakley and Hyde park is, they'll try to find the next best spot. The problem with Norwood is there isn't an "urban scene or feel" there. Pleasant Ridge has a ton of new bars, breweries, restaurants and other businesses opening up in the area. I am currently trying to focus on the nicer young professional areas of town outside of Oakley, Hyde park and mt lookout.
Yeah I like Pleasant Ridge a lot and its close to down town and those other desireable areas also... I would also be concentrating on Oakley, Hyde Park and Mt. Lookout but those locations are also pretty pricey but that also means higher cash flow and higher sale price if you can find a good deal in those locations.
Agreed with the higher cash flow of you can find a deal in the nice areas. I guarantee you there's ATLEAST one person out there with a MF who's older, ready to get out of the game, and has a neglected property that needs help. But they haven't gone to a realtor (for whatever reason) to help them sell the place. Then you scoop up the property without any other buyers lined up for a great price, put "x" amount of money into the place, rent it out, and you have yourself a good deal.
A good deal that comes through the MLS is going to be tough to find in these affluent areas I think.
Other areas for young professionals with the potential for higher rent in the short term and long term future in Cincinnati could be some of east walnut hills, which is already seeing progress. Other than Pleasant Ridge, Im not sure of other tighter markets in Cinci that has the potential to boom over the next couple years. This is a question I have also been asking lots of different realtors and Cinci natives.
What do you think? Where's the next Oakley/Hyde Park?
I also have been looking into East Walnut Hills. Price hill is also gaining a bit of traction with the Incline Public House and The new theater going in etc. However, when I drive around there it looks like it will take more than that to make it close to a desireable location. Clifton (some parts), although a college area also has a lot of new bars, restaurants, and buildings going up which could be another good spot. Cincinnati is one of those places that has cool areas sorrounded by dumpy areas.
I'm also looking into the norwood and kenwoodish area. One area that might be worth a look is the brewery district. I know a handful of younger investors are buying there and it's on a slow path to rejuvenation.