All Forum Posts by: Nick Vehr

Avondale can be very profitable, but I have not invested there. We are more in the Colerain/mt. Healthy area as I am partial to the area for my own reasons. There are/were some rough areas of Avondale I would likely not go, but I do know there are people making money over there. 

Reach out if you are looking at anything specific and maybe I can lend a hand. 

After looking at a handful of potential investment properties, I drove to yet another property and I told myself this is the one and I have to buy it. 

Sure enough, it was a good deal, we bought it, rehabbed it, rented it out for a year then sold it for a nice profit after the tenant moved out. 

Now we have 4 rentals, two flips in progress and looking for multi families. Just jump in and give it a try, worth thing that could happen is you make a mistake, but at least ya had the opportunity to make one. 

Hi All, 

I have a house under contract set to close on the 20th (we can extend if need be). My financing fell through and would like to see if anyone wants to lend against it. This is a pretty easy sell in a hot neighborhood (closed on yesterday for 102k about 1/2 mile away). 

I would be happy to share my plan and rehab details, but numbers are 55k to purchase 15k rehab and 100k ARV. Please PM me if you would like details would be happy to discuss.

Thanks, 

Nick

I appreciate all the feedback and I know that my friend does as well. I think the issue here that most sticks out for me is seeing a bad landlord trying to get one over on someone. As someone who owns a few rentals, I would never treat a tenant this way. A loyal tenant who has never missed a payment over 8 years is someone that I would be grateful for. 

That said, the background on this landlord is by all means not a BP member, well if they are, they are reading threads that I haven't seen.  In my opinion they listed the house for sale @100% more than than I would be willing to pay and expecting the tenant to treat it as if they were selling their own house. 

Thanks all for your replies, its greatly appreciated. I understand as a tenant hes in a hard spot as he doesn't own the property, but it does seem like the Landlord is going about this all the wrong way. I hope this can be a lesson for people who read this and they can treat their tenants right if they ever find themselves in this situation. 

So this came up today with a friend of mine who currently rents his house but is looking to buy a house in the next couple of months. His landlord decided they would want to sell the house, and he is getting the run around and it doesn't really seem right in my opinion. 

Background

• Hes lived there for 8 years, and is month to month
• There is a weird termination of lease clause in his lease that gives the timeline to terminate the lease as "thirty (60) days"
• Realtor came and asked him to clean up so they can begin showing the house
• There was a lock box put on the house
• He is being asked to leave the property for 8 hours this weekend (4 sat and 4 sunday) to allow for showings 
• There have been comments made that as soon as the house is under contract he will have 45 days to leave the property

So, I am fully aware it's in the owners write to sell the house, but are they allowed to encroach on his living arrangement so aggressively without him having any recourse. Due to money constraints and due to him wanting to buy a house, involving a lawyer may just cost too much, unless there is a reasonable chance that he could win a suit. 

I wanted to reach out here and see if anyone has any suggestions on how to handle this. FWIW This is in the state of Ohio, and he does have a copy of the lease. If anyone were to want to take a look at it and offer up some help, please let me know. 

I will go against the grain here and say, buy now and worry about a team as time progresses. You will always be able to find a reason not to buy a property, you should just jump in. Keep in mind, this advice is coming solely based on the fact you mentioned you live in Cincinnati. You just gotta be prepared to jump in and pick up some slack if something comes up. 

It may be hard to find a GOOD handyman, a GOOD plumber, a GOOD realtor, a GOOD attorney or a GOOD property manager. But you don't NEED them on day one, and if you do, try your hardest to find them. 

We own 3 SFH in Cincinnati, have made one successful flip and have two SFH under contract (which I may wholesale) and have been in business for 18 months. We have made a lot of mistakes along the way, but are learning from them.

Welcome to BP. Welcome to Cincinnati! Please let me know if I can help in any way.

I am currently in College Hill, Pleasent Run, and Colerain with buy and holds. It's interesting to me to see @Joseph Cornwell and @Slocomb Reed avoiding Cincinnati Public by as a blanket statement. To me, that knocks out a lot of good areas where rentals are strong and there is decent money to be made. 

We have done one flip in Mason and it was a success. 

I have lived in Cincinnati my entire life and there are some places that are a little rougher than others. But as with anything, with proper management and teams in place, you can really buy anywhere for the right price. 

You should get in contact with a Realtor and have them pull the comps. Zillow can be spot on, or completely off base. I have a property which has a "zestimate" 35% higher than I could ever hope to get it appraised for. It can be used to get ideas of prices, but do your homework after. 

I actually had not heard of Mr Money Mustache until this episode. Really enjoyed it, and have read a couple articles on MMM’s site. Good stuff! 2018 is going to be a big year for me, and I’ll look at it as you guys are setting the pace. Thanks!

Recently got a house under contract and were looking for recommendations on contractors. I have used quite a few, but wanted to see if anyone had any suggestions here in Cincinnati. Mainly need a new floor guy in particular. I would even be open to finding a reliable General Contractor that can manage the whole project from start to finish. 

The flip is pretty minor, list of what is needed is: paint, floors, carpet, vanities in 2 bathrooms, replace counter tops with granite, appliance package, replace all ceiling fans, lights and fixtures, replace all outlets. 

Any suggestions from anyone that you have used before would be great.