All Forum Posts by: Patrick Keene

Hey guys, I am selling three of my four properties in an area that's been really good to me. Cincinnati is growing quite a bit. All of my properties are located right across the river in Kentucky. Here's the info:

THREE Multi-families in Latonia, KY and Covington, KY.9 out of 10 rented (we are doing a turnover in one unit). 

Here are the property addresses and links:

312 E Southern Ave, Latonia, KY (4-plex)-- $190,000

https://www.realtor.com/.../312-E-Southern-Ave_Covington...

1704 Madison ave, Covington, KY (3-plex)-- $230,000

https://www.realtor.com/.../1704-Madison-Ave_Covington_KY...

708-710 W 35th ST, Latonia, KY (Duplex)-- $240,000

https://www.redfin.com/.../708-W-35th-St.../home/131830421

For more information, reach out to my property manager-- Josh House at Realiant Property Management (606) 224-0474‬

 Hey Jared, I'm about to list 9 units across 3 properties in Covington if you're interested. I know your post is a little old. Did you ever buy anything?

Thanks @Jason Carter, I am two weeks in and can relate to that. My agent seems great but after vetting a PM he had some great referrals, too. Kind of wish I went that route first.

Good wisdom there! Thanks @Clayton Mobley

@Grant Rothenburger That is great to know! This realtor seems to be really hustling for me so I'll give her a shot. However, I hear realtors with investor mindsets are hard to come by so I may be connecting with you about that in the future.

@James Wise I live in a small college town (6000 people in the city and 10000 at the university) which is already crawling with investors. I know of at least 3 new apartment complexes being built as we speak. There isn't a ton of opportunity to jump into a home with equity. Admittedly, I am still learning where to look.

I have decided to use the principles of the book to get started in the Northern KY/Cincinnati Metro area which is only  a couple of hours away. This way, I get the best of both worlds. It is close enough that I could go see a property if I wanted to but it is far enough away that it forces me to depend on others without putting too much pressure on myself . That may be a bit idealistic but its a work in progress.

My realtor showed me our first lead yesterday. Even though it wasn't what I am looking for it was exciting to get the process rolling. I would welcome any advice you would have for me.

@John Warren @Michael Noto Thanks, guys. I appreciate the  input. I am researching my first market and going to send out some emails to realtors today. This is a daunting process but it is good to know that it is something to be learned with time.

I recently watched a video on how to make an offer on a house. It was a simple formula. I think it was:

ARV x 70% - rehab costs - profit

My question is how do I quickly and efficiently determine rehab costs to make an offer?

Obviously, a scope of work from a couple contractors would be the most accurate but it seems a little overkill just to analyze a deal. I could take my property manager or realtor's word for it but that may not be their area of expertise.

Also, I am using David Greene's Long Distance Investing book as a guide so I may never actually see the house. 

Thanks in advance.

@Shawn Ackerman Thanks for the encouragement!

I just finished the book Long Distance Real Estate Investing by David Greene. I am excited and nervous to get started.

Has anyone else read his book and put the principles to action? What is your experience?