All Forum Posts by: Alec Fenner

@Brad Trauth

Hey Brad, shoot me a PM I’m a traveling superintendent but trying to set my self up to build my own rentals in Cincy

I am giving up trying to find a 4 unit in a good condition and in a good area in Cincinnati.

I believe it will be a better option to build with my VA construction loan that is 0% down and has recently removed the purchase limit so i should be able to qualify for a high limit with potential rental income, income from my other properties, along with a solid w-2 job.

Does anyone have any advice on local builders willing to do multifamily I am struggling to find anyone who is capable of it of course with being a rental I am hoping to go more with a standard company than an custom design builder. Also if anyone has some experience with new construction and could give me a few pointers I’d appreciate any and all advice!

Hello BP and thanks in advance for any advice you may be willing to share, I know most people on here aren’t a CPA I’m just looking for options!

I paid 300k for a 4 unit in Cincinnati, it only appraised for 270k but the seller was stuck on 300k. Even at that price I still was able to hit all my metrics so I paid the 30k to him in a cashiers check at the time of closing, should this be tax deductible to me?

Searching for a lender in Cincinnati who will do 80% LTV on a multi family investment property. Any contacts would be greatly appreciated bc all I can find is 75% LTV. Thank you for your time and I would love to connect with anyone interested in expanding there network in the Cincinnati area!

@Erik Hatch

Rents are slightly under market, and could possibly do a split head for the boiler system to place the utilities gas expense on the tenants, thank you for your timely and wise response!!

I am putting 100k down on a 12 unit (20%). After this I know I cannot leverage that with a bank but what kind of terms do you believe I could get with a private investor if I essentially would like to repeat the same process leveraging my 12 unit?!

Thank you for your time and knowledge in advance!!

@Thomas W. Hey I have no idea what to use for appreciation, what is it that you use!

I sent a DM, but I love the way you are structuring your business with the Flat rate!!

Just found a duplex that is in need of a good bit of improvements, mainly electrical, plumbing, anyone recommend a good contractor in Cincinnati Ohio

@Anthony M Schlitt

I’m in a very similar situation as you, and I have not done the math but to me the idea of retire at a age I can enjoy my freedom at is worth the risk.

And also I’ve only been working for 2 years now and if I wait for conventional retirement that means 45 more years of working and I can’t accept that