All Forum Posts by: Sean Cole

It doesn't appear that this is a house that you own yet.  Has it transferred into your name/company and it's just not reflecting on the auditor website yet?

If you just have it under contract, you're violating Ohio law by advertising in this manner.

1.  Ask for the leases to back up the rent roll.
2.  What's the rent breakdown by unit type?

I believe that I know the neighborhood these TH are in, as there's a couple of developments in Greenhills that it could be - one on the east side of the main road and one on the west side.  Which side is this one?  Greenhills is a pretty nice part of town on the West side of Cincinnati (anything close to or west of I-75 we call "west side"), so decent rents wouldn't surprise me.  They should definitely be higher than Roselawn.

As an agent, investor and wholesaler I see both sides here.  My experience, having sold hundreds of houses since 2012, is that buyers/investors come up with all kinds of reasons why a house that fits the exact criteria they laid out isn't actually going to work.  On the other hand, I work with other agents every day who just don't hustle very much and don't add value to transactions.

In the specific case of the OP, I'd be hesitant to ask a typical real estate agent to do ANY due diligence on investment property.  Most simply aren't equipped with that knowledge.  You should be doing this  yourself if you're risking dollars that would cause you pain if they were lost.

Kennedy Heights has some great streets/neighborhoods.  Colerain Twp., Forest Park, Pleasant Ridge, Finneytown, Fairfax are all areas to look that haven't been mentioned.

The standard Cincinnati Area Board of REALTORS contract has a maintenance clause that requires the seller to maintain the property in the same condition it was from the date of acceptance to closing.

Suzanne, what do you mean by "lower price points?"  Low price in Toronto is different than low price in Cincinnati!  There's a lot of outside money flowing into the midwest and margins are getting driven down as a result.  

Unfortunately, anyone who replies to your thread with information about their own company is going to have the post removed because it violates forum rules re: advertising.  You're probably going to need to do some searching or hope that others provide referrals.

Careful about the "worst case" company - I can guess who they are based on the rate and points.  They're currently facing a couple lawsuits related to the way they do their loans.

"I'm going to post a question on BiggerPockets, but I'm going to argue with everyone who doesn't answer the question with the answer I'm hoping to hear" should be required signature lines for some people here 

@Sarah Bojorquez, Ohio does offer the classes online now (check out Hondros College). The education piece of getting your license is far more about how to not get sued than it is how to be a successful agent. As an example, you'll look at exactly 0 real estate contracts as part of your education. You won't learn how to negotiate. You won't learn how to use the MLS.

Those are all taught by whatever brokerage sponsors you.

@Account Closed we always include 4-5 sales comps for each property that we try to sell to an investor. I'm a licensed agent, so they're generate from the local MLS. There are instances, though, where even the square footage on the MLS is wrong compared to the county auditor website.

It sounds like you're trying to buy a house from my competitor. I'd suggest asking them to provide all sales in a 1/2 mile radius for the last 12 months vs. just the ones they're using to justify they're opinion of ARV. WIth $45,000 to invest, you're probably using their HML, so they have plenty of financial incentive to run those extra comps (the 4.9% origination fee they charge and the 3% spread they make on your interest payments, PLUS the markup on the property they're selling you)