All Forum Posts by: Kyle Neff

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Hi everyone - thanks in advance for helping with the analysis. Technically a duplex but there is a studio unit in the bottom level that is currently rented for $350. Also important to note is that the owner currently lives in one of the units and is potentially willing to rent from the buyer/new owner after the sale - I'm trying to figure out the motivation there. I would need to consider seller financing here or get creative as 25% down would wipe out all my reserves. 

In general, I want to make sure my numbers look accurate here because this deal could swing one way or the other very quickly. 

Thanks in advance for any advice you have!

@Kyle Thompson

Sounds like we are in a similar boat, Kyle. I am hoping to pick up several properties this year and continue from there. I have heard many promote "Stessa" but I have not tried it myself yet. Might be worth a look.

Best of luck in all your investment endeavors!

Hello BP Community!

I currently live in GA but have selected Ohio (where I'm originally from) to start my REI journey. I will focus on multifamily investing first and single-family second. I would like to start interviewing Property Managers soon as I know they are a critical partner when employing a long distance investing strategy. A few questions / topics of discussion:

1) Long-Distance Investing vs Investing close to home -- hoping to get some insight on this since I am just starting out. From my limited knowledge, Ohio seems to have much less barrier to entry than Georgia (where I live currently) and much more of the inventory I am looking for (multifamily). Is it a stupid idea to invest out of state for the first few properties, or is it more a question of risk tolerance (or something else)?

2) What are some questions I should be prepared with when I start interviewing Property Managers?

Thanks in advance for the insight!

@Ned J. Perfectly said! Thank you!

@Chuks Erinne - thanks Chuks! According to the disclosure, it’s currently rented for $2200/month to 3 different tenants - it’s a triplex. It also changed to “pending” today so I didn’t move fast enough, unfortunately. I will keep doing my homework on this area, though!

@Sam Shueh - thanks for the reply Sam! I think the property is already pending, but who knows if it will stick. Several on this thread who focus on Cinci have commented that this area is kinda rough so maybe I am dodging a bullet. Time to do more homework! 

Do you invest in this area?

@Jake Walroth - thanks Jake! Appreciate the feedback.

@Jake Walroth I guess I could make this easier and just share - it's 2301 Harrison Ave, 45211.

@Jake Walroth - thanks for the reply, Jake! The property is in Westwood, 45211. I'm guessing you are familiar. Would you stay away from this area? Any areas that you would tend to lean towards (Kennedy Heights, Norwood, etc)...would be interested to hear your thoughts. I will send you a PM as well. 

@Kris Wong - thanks for the reply, Kris! That is my fear, I actually need to go look at the place and do a walk-through with an inspector to uncover "the undesirables".