Introduction: First Time Homebuyer in Cincinnati

[Emily Weglage]

Hey BP, just wanted to introduce myself. I'm Emily, a 25 year old chemist who grew up in Beavercreek Ohio and moved to Cincinnati in 2013 for college. I've been renting for the last 6 years, going on 7 and I'm sick of flushing my money down the toilet! I've been listening to the podcasts for a couple months now, and been interested in real estate investing for a few years. 

My plan is to buy a multi family property to house hack, that needs some work but isn't a total nightmare. I currently live in Covedale, but I would love to buy a property on the East Side in a more affordable, up and coming area. I think I missed the chance to get into Oakley(wow that has grown enormously just in the last 3 years!), but somewhere around Evanston/Walnut Hills/ Madisonville/Norwood area still seems affordable.

I have a few questions overall and for people investing in Cincinnati;

1. My current lease is up in April 2021, when should I start contacting a real estate agent and seriously looking?

2. Do you have any realtors or contractors, handymen, etc. that you recommend for a first timer? 

3. How did you get your partner on board with buying a house? 

TLDR: First time homebuyer in Cincinnati, when should I start contacting realtors if I want to buy and renovate a multifamily property in Spring 2021? Do you have any local realtors that are investor friendly? Contractors?

Thank you, and please let me know if I can provide anything to you! I'm very eager to learn and have evenings and weekends free and am not afraid of getting my hands dirty to learn a new skill!

[Zachary Elliott]

Welcome to BP @Emily Weglage! I am a local Cincinnati investor. I've been in the Cincy area for about 12 years now and have been investing for about 5. 

I agree with @Timothy Boyd, house hacking is a fantastic idea and a great way to dip your toe into the world of landlording. That can also be a great way to get a partner on board with a first move into real estate because the cost savings become pretty obvious with the right purchase. 

Where are you looking to buy? Right now, I know things have heated up a bit and it can be a little harder to find properties but it is still doable, I'd just caution you against buying something that is overpriced or where the numbers don't work. Obviously house hacking makes that a little more flexible, but I'd still take me time searching for something that works for you.

If there's anything I can do to help you, please don't hesitate to reach out to me. I'm always happy to help a new investor. Good luck in your RE journey!

- Zac.