All Forum Posts by: Jeremy Komer

@Wendy Jiang

Depends on what I'm looking for

I need something nice today

Home Depot Lowe's etc

Nice but I can wait or just anything that works but I can wait

Facebook offer up etc

Just need something that works today

There are local small places that refurbish appliances and resell them, usually nothing special but gets the job done.

They are neighborhood stores so probably won't advertise anywhere you'll have to dig around.

@JD Mims

Based off my limited knowledge of other Ohio cities you definitely need a building and electric permit.

@Joe S

Renting for me was only 2 years ago, and I would think it extremely strange not to get major appliances included in rent. Apart from maybe a washer dryer depending on where I lived.

@Meredith Mihm

I would expect to see 4.5-5.5 depending on your credit profile what other rentals you have etc.

So no 4.9 isn't crazy right now

@Ralph Ace

In Cincinnati it depends, if it's priced well and the renovation was done well it's sold in a couple weeks if it's got something wrong or the renovation lacks quality to justify the price then it sits and it can sit for a month or more as the price comes down to reality, usually 10% ish.

Last year it was crazy everything sold in 2-4 days and I mean everything! No matter how bad it was it got bought!

@Kenneth Honer

If you can prove the other is an upgrade it should be fine.

But if you bought it almost 2 years ago with 10% down and have made improvements why not refi into an investment loan and use a 3.5% down FHA on the next one?

@Todd Summers

Not many homes in Cincinnati are that new, maybe a remodel was done in the 50s-70s or even recently but the vast majority of Cincinnati homes are built between 1880-1940 with a big concentration pre- prohibition.

These Old home are built like tanks and unless they have been really neglected their stone foundations and brick structures stand the test of time. They definitely have some quirks and limits as far as additions go but the core structures themselves I trust more than the wooden, water sensitive, structures I see being built today.

@Todd Summers

For the most part if you go west of downtown it gets worse it you go east it gets better.

If your looking for single family you can still find cheap ones that rent well in Norwood otherwise your in 225k+ range and close to 300k real quick.

Examples

A class

Hyde Park

Oakley

Columbia Tusculum

East Walnut hills

Mt.Adams

B class

Norwood

Maderia

Northside

Kenwood

@Lauren Sanders

The good deals I've gotten are on ones that have scared others off.

Asbestos roofs

Box gutters that are DOA, (Not FHA) eligible

I did get one with pure speed, was on the market for 5 mins called the agent and got in that day and made an offer that day for asking, whole thing took maybe 5 hours.

I've gotten offers rejected hundreds of times, I've even been rejected when I have the best offer because the seller favored an life long neighborhood resident.

Just keep trying! Stick to your guns!

@Anand S.

Buying less but I still see deals beating the 1% rule 10% cocroi, 7%+ cap rate, etc

An interesting fact, the market goes up allot more often then it goes down. Black Rock can't time a crash, but you think you can?

We have a tight labor market, the most qualified home buyers ever, high inflation, etc but because prices are high they should come down? I think there is some regret from missing the boat over the last few years...