New to RE Investing in Cincinnati

[Kendra B.]

Hi All--

I'm getting started in Cincinnati, OH. Looking for a multifamily place so I can downsize into a unit and still have a little income. Having a hard time knowing which neighborhoods to get into and whether paying for the nicer place is worth it, with less cash flow. Any advice would be appreciated. 

[Jake Walroth]

Welcome @Kendra B. to BP..... I've grown up in Cincinnati.....I just bought my first Rental/House hack in Corryville near UC and the hospitals..... I paid a little $175k for the location, but my mortgage is $1300(FHA 5% down- and I used a Cincinnati Port Authority Grant that paid all of my downpayment, all I needed was closing costs $3800- requires credit score of 680+ i believe and there are income barriers, but if you fit into that criteria, check it out-I used NRL Lending) and the 2nd Unit(4-2) rents for $1500, and my unit rents for $800 when I find my next house hack... so there are deals to be had. The best part about cincy is you have so many different areas that lend themselves to different strategies. You can get great cashflow properties in areas like Price Hill, Cheviot, Westwood-I grew up on the westside, there are still many pockets of good neighborhoods. You could also spend some more in a place like Oakley, Walnut Hills, Norwood.... and be pretty sure your appreciation will be great. I'm choosing the Clifton/Corryville market because of the giant tenant pool and higher rents.... and hopes of appreciation-- afterall UC is growing year over year at about 7-10%... So I've got some med school tenants that will rent from me in May. Don't forget about places like Covington, Newport, Bellevue KY...... Best of luck and if you have any questions please ASK. 

Cheers

Jake