2-4 Unit Properties in Cincinnati (& possibly Dayton)

[Mica Moore]

I have my eye on Cincinnati due to the affordable pricing (to purchase my first investment property - buy & hold). Looking for 2-4 units to keep it Residential not Commercial.  I see that the buildings are pretty old, and I imagine this is or could be a maintenance nightmare. The Cash Flows that I have seen on the MLS look excellent (on paper), but what are the realities?  I guess that ties with my main questions - why are properties so cheap? What's the catch?  High maintenance?  Tenants who can't pay rent regularly? Low demand for these units?  If so, that looks like a recipe for disaster - spending money on maintenance while have no paying tenants.  Am I too cynical or is this an obvious red flag? What's the true ROI like out there?

[Jake Walroth]

@Mica Moore  My thought: 

You’re clearly apprehensive with the challenges in out of state investing.... and I’d be to if my first investment was 2k miles away in a city I’ve never been .. most people from Cali, ny, etc come to cincy and buy 30k-75k **** properties because as you said.... the numbers look good on paper.... most fail miserably.

If you’re  a first time investor looking to the Midwest... my suggestion would be spend 100-150k and be in a B neighborhood. I’ve actually wholesaled a few properties to some friends that live in South Tahoe.... they’ve done really well... especially as a newbie.... this type of investment will be much easier on you’re blood pressure.... but then again... if you can spend 100k- 150k id just look to Sac, Boise, or other places closer to you.

If you do decide to invest here.... you’ll probably want to visit out here a few times.... go to a few meetups.... and then, if you’re comfortable with the idea, pull the trigger.