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All Forum Posts by: Nick Vehr

Nick Vehr has started 19 posts and replied 62 times.

Post: Cincinnati area cash buyers/flippers

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

@Jacob Fannin, Please share the info if possible, would love to take a look.  

Post: Looking for Property Managers and Turnkey Providers

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

Hi @Alpesh Parmar, I have a great PM and may be able to help you with TKP, but would need to understand your needs. Message me and let’s chat. 

Post: Invest in WESTWOOD CINCINNATI

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

Alright, Alright, you have pulled me out of my lurking ways and baited me with a topic that his home to me. Home because I grew up in Westwood, from the time I was born for the next 25 years, only taking time off to go to college. We recently purchased a 12 unit building in Westwood as well, so I would hope that criteria are enough to keep you reading. 

@Jake Walroth , You said something that I always hear "Westwood is a warzone". This one really cracks me up, are there bad areas of Westwood, Yes, areas you may not want to be at night, Ohh hell yes. But does that condemn the entire area, ABSOLUTELY NOT!

You will hear it from a lot of people on here who have done some research on Westwood, "It's on a comeback". And honestly, they have done a ton of work to the public school, there is work being done on town hall, westside brewery, pop up street fests it really has it all. But, I am going to let you in on a little secret, Westwood has and always will be on a "Comeback". And quite frankly, I am not really sure what it is "Coming back to". 

Westwood in and of itself will always be a very diverse community. There are high crime areas, as well as very nice areas to live in. Whenever someone tells me they bought in Westwood, I congratulate them and ask them where. For me, that tells me a lot about the individual investor. I have a colleague that probably 15-20 Units and Westwood, Units that would make most investors Jealous. Not just because of the numbers, but because of the actual buildings and quality. 

@Paul Sian , Cheviot Sucks!! Man, the 6th grader in me just shined through. *Disclaimer* No one takes this as real estate advice, just the fact that a Westwood boy wouldn't dare to invest in Cheviot! 

Post: Investor Flip and Convert Half bath to Full

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

Wow, thought I was posting this to my profile. Epic Fail! I can't even figure out how to close this thread. n00b!

Post: Investor Flip and Convert Half bath to Full

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

Investment Info:

Single-family residence fix & flip investment in Cincinnati.

Purchase price: $12,300
Cash invested: $50,000
Sale price: $98,900

3 30-yd dumpsters to empty out the trash from this hoarder house. Took it from a 3/1.5 to a 3/2.

Post: Partnership with seller to flip house??

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

You got that right, value doesn’t have to mean money!

Post: Partnership with seller to flip house??

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

This deal is actually in the "Still going on phase" believe it or not. What we have come to do is there is a pretty bad foundation problem that the owner is currently addressing. In doing this we will then wait til march or april and have the tenant vacate, then clean it up to sell. Its been an interesting process, and I really like the man who owns the building. 

I am not too sure if I will make money on the deal in this instance, he has stated his highest priority is to pay me for my time. He also mentioned he would like to become a passive investor in some of the deals that we have going on. I am sure I will gain value out of it, but may not actual money lol. 

We found this deal via our mailers, which we are in the process of scaling up. @Shawn McGarity Reach out if there is anything we can do to help. 

Post: Cincinnati Property Manager Recommendations?

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

@Brandon Turner, Sent ya a PM, Hope all is well. 

Post: Multi-family dream property in Cincinnati Ohio?

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26
Originally posted by @Earl Hatmaker:
@Vincent Salviano

I’ve had an eye on that property for a couple months and don’t think that area will be as quick to turn around as some others.

I copied a link to a property that sparked my interest since it’s close to campus and has NO STUDENTS as of right now. If anyone is from the area, there are tons of places and neighborhoods that you wouldn’t have wanted to buy In 5 years ago. Now I think Cincy has great potential. Do some research on UC and how quickly it’s freshman class is growing.

Those kids starting school this year will need a place to stay that is SAFE and CLOSE to class!

http://www.loopnet.com/Listing/611-621-De-Votie-Av...

@Earl Hatmaker, This one was actually offered to me out of pocket a while back from a local realtor. I was intrigued being that I went to UC and was in sure of the street. The way it was explained to me was nothing shy of a home run.

Drove down there the next day and couldn’t believe it, it looked like an old motel in an area that I wouldn’t have ever wanted to be near when I was a student. And I still didn’t want to be there, I’m sure someone can make money off that one, but it wasn’t me. Did you end up offering on it? It seemed like it could be a money maker to the right team but was too much of a stretch for my capacity.

Post: Cincinnati house for sale 105k, 160k ARV

Nick VehrPosted
  • Rental Property Investor
  • Cincinnati, OH
  • Posts 69
  • Votes 26

Not really sure how ARV applies to a rental here. Also this is the first time I've ever heard the term redlining when referring to real estate investing? Are you referring to negative cash flow? Maybe I'm not up on the times.

Assuming you push rents and out 20% down it would be a good rental in a good neighborhood with good cash flow. But, I suggest you run your own numbers as we all have different criteria. It's obvious you're not interested in this one, so thanks for looking.