All Forum Posts by: Rodney Reeves

@Eddie Espinal I'm curious as well to hear about your experience with PadSplit if you decided to use them.

@Josh Stanton Hope I'm not too late on this one, but I'm wondering if you could briefly describe your onboarding process with them. I am considering using PadSplit to rent out the 4 beds I have in my personal residence once I move out. 

Thanks, Jeff! I will give him a shout

Hey everyone,

I'm looking to close my first deal in the Cincinnati area, a lease option deal, and wanted to ensure all of the paperwork from the lessor is legit. I am also planning to have a Letter of Intent in need of review as well. Does anyone know of typical rates of local lawyers and/or have any good referrals? The property is in the Cheviot/Westwood area if that makes a difference. 

Thanks!

I know I am pretty late to this thread but do any of these sites include good emails as well? I have used fastpeoplesearch.com and usphonebook.com as free sites with varying levels of success in finding good phone numbers. I also paid for Checkpeople.com for a while and had some success with using that for numbers and emails. But I have not been able to have consistent success with a site that provides good phone numbers and emails, since I send out emails as well to the leads my team gets. 

@Victor Nkhoma Good luck with your search! I ended up buying a single-family house in the Mableton area to house hack. Everything has been going pretty well with it so far (minus property tax increases because of the Braves stadium. Yay). I found good tenants rather quickly and have not had any issues with living with them. Like the others commented, the townhouse house hack could still work but I just found more value in having an SFH without any HOA dictating what I can/cannot do.

Send me a msg if you need any lender recommendations. My friend from college was incredible during the process and can help you make the right choice. 

@Kathy Henley Thanks for providing that example. I'll continue researching it and weighing other options.

Has anyone ever used a bridge loan to help with a downpayment/to cover the entire down payment on a rental property? What are some pros and cons of the different types of lenders that offer this? Would you do it again or not and why?

@Scott Lyons Thanks!

Hey all,

I'm a wholesaler and house hacker from Atlanta. I am partnering up with my sister to buy a small multifamily (2-4 units) property in greater Cincinnati before the end of Spring 2020. We both live in expensive markets (she's in DC) that have few if any, affordable multifamily inventory, which is our target to get some cash flow going with our first rentals. Searching for properties in need of some light rehabbing in 45204, 45206, 45211, 45219, 45220, 45223 and 45239 zip codes and want to stay below 150K. 

We aren't complete strangers to the market: I did an internship around Cincinnati and northern KY (Fort Thomas mainly) for a summer a few years ago and she lived in East Walnut Hills for 6 yrs until moving to DC 2 yrs ago so she knows the area pretty well. We will visit for sure before making a purchase.

Just curious, what are some typical GRMs you guys are seeing for small multifamilies in these areas? Also, how do you best estimate water usage in a property you're analyzing? I noticed most sellers omit this in the listing and I didn't see a good way to estimate this on Hamilton County's water dept's website. Lastly, what are your thoughts on off-market vs on-market deals? The numbers seem to work on some of the ones on the market I have looked at, but I just want to get thoughts from anyone who has been investing in the area for a while.

Thanks for all the help!