All Forum Posts by: Joseph Cornwell

@Andrew Syrios The purpose would be to increase the value based on income using the NOI/ cap rate, instead of comparable sales on a 4 unit. Aside from the possible added cash flow of adding another unit. As in my example, a roughly 30-40k investment would yield a 90k in value on a 8 cap, which right now in Cincinnati are compressing closer to 6% so even more value right now.

I guess that makes sense. I've only gotten a few 4plexes refinanced and it seems they tend to use both comps and the cash flow method. Have you seen this play out in practice where 5+ units trade at much higher than a 4 unit would just because of how they're appraised? 

I invest in Cincinnati @Lisa Shows if you have any questions feel free to reach out, thanks! 

What do you mean? Someone finished a basement without a permit and now you want to get one? 

@Ermyas Sereke If you have any questions about Cincinnati feel free to reach out, happy to chat! 

@Jordan Fiore It seems to be very low inventory still, I was hoping for a bigger listing surge after the Holidays and it has been underwhelming. If this continues into the spring market again like the past few years, prices will continue to climb as competition in the single and multifamily market is still very high. As for investors, the main silverlining is that rental demand is still at all time highs and rent increases have matched or outpaced costs increases in most areas, so there are still deals to be made. Sometimes it requires more effort than buying a turnkey property, but those are the best returns out there from my and my clients perspectives. 

@Sarah Bojorquez If you are looking for a brokerage to learn the business and are in Cincinnati, I would recommend starting at Sibcy Cline. They have great training for new agents, I started there for two years and really learned the businesses and how to sell real estate. I do not know of any broker who specializes in investment real estate training because frankly 99% of them do not understand it at all. If you are looking for the best splits (lowest fees) I would recommend Ownerland Realty (where I am) or Plumbtree, but they offer almost zero support or training so for new agents it probably does not make sense. Feel free to reach out if you have any other questions. 

@Matthew Vedder Water cost definitely seems low, I would estimate closer to $200-250/mo for Cincinnati water works on a 4plex. The biggest thing on any deal like this is to verify rents, most agent list with market rents not the actuals. Always get leases when possible. Otherwise this could have potential but keep in mind this is a C-, D+ area. 

@Taylor Cowan there are definitely some options on the MLS with this criteria, if you have any questions let me know, I am happy to help!

@Joshua Smith I work with @Phillip Weickert he is a Cincinnati based CPA who focuses on real estate investors. Good luck! 

@Matthew Vedder I am a local investor here in Cincinnati also if you have any questions. Its a great market for rentals!