All Forum Posts by: Mateo Oquendo-Chandler

Hello Deshay,

Welcome to Cincinnati. Hope you enjoy your time here. If you are interested in being involved in some local meet-ups send me a message and I will get you connected. Lot of options and opportunity all around the city.

Hey Sam,

I think we all know that it is different for each individual. If someone is working with a lower balance of funds like I am, than I'm more likely to prefer cashflow so that I can continue to afford the property as well as my life style.

If I had some disposable income that was in excess of what I need to live on, than I'm more inclined to look forward towards appreciation because I would have enough wealth to take the hit now for the bigger payment in the future. 

Clermont county like any others has its pros and cons. You don't seem to get much out of appreciation for townhomes and condos but if you get it looking nice they usually don't sit empty. Lot of apartment complexes around the area used to have a waiting list so that's a good indicator on renters in the area. Could always call around asking for vacancies to see get a general idea of whats out on the market. HOA prices and restrictions is probably the next biggest thing to pay attention to as they will have a lot of influence on your profit margin and growth potential.

Thank you for your willingness to share you experience. It sounds like you got lucky and the process was quick and went according to plan. We are all human beings so being humble and trying to work with people often seems easier than creating conflict. Hope things improve moving forward for you and in the grand scheme of things, $2600 loss I would just chalk up to a lessons learned and one you can continue to teach others about in the future.

If you haven't already, local meet up groups are a great way of networking and finding local investors who may have a need for your services. Also, be sure to join the BP registry so that when someone comes looking for an agent on BP, your name is on that list. Best of luck in your endeavors!

Welcome welcome, I recommend joining up with some local rest estate groups to network with in person and Facebook groups for investors, buy/sell, contractors, etc. to just be in the mix and see who is out there making deals and opportunities.

I provide everything in my rentals so that I can charge top dollar. I am able to do this because I get my appliances off auction or cheap deals on Facebook. I have the appliances tested and cleaned up and keep an extra set as back up incase I need to swap them out. Understand though that there is still a market value to keep in mind when setting the rent price. Do your due diligence in seeing what your competition is charging vs what they are offering to ensure your property gives the renter the expectation they are looking for with the price they are paying. There is nothing wrong with not providing the appliances if you don't want to deal with possible repairs just make sure your price reflects that.

For the monthly real estate meet-up we have in Cincinnati, the common question is How to find and vet contractors?" It's no surprise that the demand of labor is larger than the supply, which is why handy businesses are doing so well, but there is a valid and common fear when finding a contractor. When you never done a rehab before, most investors don't know how to judge if quote prices makes sense, how long the project(s) should take, when they should be using permits versus not.

Quote from @Bryant Sala:

Hi everyone! I'm looking to re-fi my duplex out of an FHA so that we can re-use it on another small multifamily here in Cincinnati.

I've been told by a few lenders that since it's a duplex, I need 85% LTV to re-fi, which we don't quite have yet (closer to 11-12% LTV). Are there any lenders that can help us re-fi into a conventional product with less than 85% LTV?

Thanks again!

 Bryant its been a while. Hope all is well. Why do you feel you need to change the first loan before you will be able to get a second one? 

Best advice anyone can give you is that if you aren't confident, I just wouldn't use their services. How are you going to feel every day not knowing if you are going to get blind sided by something? If you have a good deal, you won't have any issues finding a reputable lender.