All Forum Posts by: Nicholas Patrick

@Robert Speckert @Joseph Cornwell Both of you being agents pretty familar with the area just how rare are small multi families around the areas mentioned? Am I just incredibly unlucky with timing or what?

Me and my family would be househacking with an FHA loan so direct mail is harder to do since the properties are usually in a less than livable condition as required by the loan.

As I grow into an actual business I think Reading, Pleasant Ridge, Wyoming, and areas like that have awesome value, but for me and my family personally we are not a huge fan of the super dense neighborhoods. Would love to connect with both of you and chat more. Relatively new to the area.

Hi,

Looking for advice from more experienced investors to the area and in general. Also, wouldn't mind making a few connections.

I am relatively new to the Cincinnati market and am still looking for my first property. The idea is to househack.

I have kept my eye on the market and not much has come up. So my question is, is small multi-family properties just not that common in the Cincinnati SUBURBS specifically? Am I waiting around for something that doesn't really exist?

I am looking into the east side suburbs like Kenwood area, Milford area, Loveland area, Eastgate area, Batavia area, and so on. Problem is, I've hardly seen a multi family come on the market in any of those areas in the time I have been looking since August let alone one that is a deal.

Any expertise is most welcomed. Any tips?

Title pretty much says it all. I am looking to househack with a small multi family, but the best way to purchase is through FHA for me.

The market right now is almost totally dead where I am looking (Cincinnati area) for small multis in a livable area. Not just no good deals but no deals at all.

With an FHA loan, closing usually takes longer and most people want a quick close when dealing off market.

Is this just a bad idea all around? Anyone have experience doing this? What advice would you have?

@Evan Polaski Very much appreciate the gold mine of information. Definitely looking for the C or D multi family in the B neighborhood, but aren't we all. Any other tips to share?

@Tanvir Sattar I have not heard of either. I will look into them. Thank you very much. Do you know if triplexes/quads are common in the Cincinnati area?

@Tanvir Sattar I have had that one in my mind. Didn't want to mention it in fear of the whole post becoming exclusively about Norwood if I did. Know of any others?

Hi,

I am looking to get my start within the Cincinnati area shortly. I am looking to househack and BRRR a small multi-family property somewhere within or possibly around the city.

Where is the best places to buy multifamily property right now in the area to live in and house hack

Is suburban investing a thing around here or is everything just to expensive?

Also, appreciate connecting with investors from the area as I am new here.

@Farida Mostajabi I usually look on facebook or meetup.com. Definitely going to Joe Fairless run meetup, because that seems to be the popular one.

@Evan Koehler I think I will pull lists online. Multiple sites let you do this. You can pull lists of absentee owners, back taxes, inheritances, and a number of other things. I would mail these to whoever fits the criteria I am looking for whether they have their house listed or not. As far as working with the relator, I believe it would keep me honest and up to date with the current market, but the majority of deals come from off market as far as my research tells me. Maybe I am not in position to give advice, because I have not started this myself as of yet but these are my plans. Might not work in all markets though.

@Evan Koehler Hello,

I seem to be in a very similar position. I just graduated college this past April and live in an apartment as well. I would like to share my plan and bounce ideas around.

My plan is to contact a relator specializing in investment properties. I will sign up for their emails and see every property that fits me. I already designed a spreadsheet to help me analyze theae or you can use BP calculator. On top of this, and more importantly, I will be personally writing direct mail post cards to those who have property that fit my criteria seeing if they want to sell.

I am hoping to househack, and have my first one secured by the end of the year. A property with 2-4 units financed with an FHA loan or maybe a 203k loan depends on repair costs. I plan to do this maybe two or three times before finally buying my first official personal home. At that point, I will officially start my business and start scaling until I reach financial freedom.

People tell you to read books, listen to podcasts, and the like, and even though I dont disagree there comes a point that you just need to take action.

Hope this posts helps you in any way.