Cincinnati & Dayton - Multifamily

[Kenneth Fung]

Hi all -- Wanted to thank Biggerpockets community for all the help and advice so far!  This is my first post.  :)

A friend and I are making a trip to Cincinnati Feb 8-10.  We've bought in other cities but looking to learn more about this market.  Interested in multifamily in C+ or better neighborhoods to buy and hold.  Our primary objectives are to familiarize ourselves with the area (it's our first time) & make some local contacts (particularly property management companies and brokers).  A few questions...

1) What neighborhoods do you recommend in Cincinnati?  From the forums, was interested in a few such as Northside, Avondale, Hyde Park, Norwood, and Pleasant Ridge.  Are there others to add or reasons we should avoid the ones mentioned?

2) What neighborhoods do you recommend in Dayton?

3) Are there property management companies you recommend in Cincinnati or Dayton?

4) Are there brokers that you recommend in Cincinnati or Dayton?

Thank you for all the help!  Looking forward to your thoughts!

[Jake Garrity]

Hi Kenneth, wanted to share some thoughts in response to your post:

1) What neighborhoods? This really depends on your criteria and budget. Per your message, if you are looking for C+ or better, all of the neighborhoods you listed would probably be in that category, with maybe the exception of Avondale [Im not as familiar with Northside]. The difference is really going to be in cost. Hyde Park/Oakley is a very hot area right now, I think you will be challenged to find deals in a normal price range in that area. However, Norwood is a good alternative, as it is not nearly as expensive and has a good number of properties needing value add. I am in the middle of a BRRRR in Norwood myself. One other area you may want to consider is Colerain.

2) As far as Dayton, I have a property in Kettering, which is a great area but also quite competitive in the housing market. Oakwood, Beavercreek and West Carrollton are always good options. But if I were purchasing anything new in Dayton, I would find something near Wright Patterson Air Force base as the base is going through some significant expansion. 

3) I self manage, so can't help you here. 

4) Not sure about brokers either, but I do have a Cincinnati based real estate agent if you need a recommendation. 

Hope that helps!

Jake