All Forum Posts by: Slocomb Reed

@Omid Torkian Cincinnati is a great market for investing, but it's definitely a market that you need to see in person. Every neighborhood has a range of property types and qualities (some places go from A to C or from B to D when you cross the street) so you either need to know the area surrounding the deals you're looking at, or you need someone on your team who does.

Best of luck in your investing!

@Glenn Clapp if you're looking at low prices in or near OTR, then you're looking at seriously dilapidated buildings or parts of downtown that haven't seen redevelopment yet. The new trendy OTR is here to stay, but there aren't any good deals on market in the trendy parts any more. I got lucky with my two properties down here (still live in one of them), but that's mostly because I bought five and two years ago.

OTR and the surrounding neighborhoods are either overpriced for investors or, at best, a speculation play on what will happen in the next five years. If you really want a good OTR deal and you don't want to rely on the economy continuing to explode for the next five years, I'd recommend looking for off-market deals. 

@Kou Y. I'm a Cincinnati investor/agent and I've love to talk you into investing here, but more importantly, you need to makre sure you're very diligent about figuring out utility costs for multis. Single family renters in Cincy typically pay all utilities, but I'm seeing utility costs absolutely crush otherwise great deals on small multis here. Boiler heat is the primary culprit.

Some people will make their numbers work better by doing a RUBS to split up the cost of heating the building (I've done this), but it's an acquired taste.

Good luck in your investing!

@Tyler Weaver Thanks for the mention! @Paul C Mead I'll PM you.

@Scott Sharp shoot me a PM for my Avondale PM. Thanks!

Hi @Sterling Wright

Good to see you at the meetup last night! Sorry I wasn't able to introduce myself in person, but I'll send you a PM.

Hi @April Littleton

I'd be happy to connect with you and help you with your driving for dollars!  I'll send you a PM.

@Wayne Popelka I'd be happy to recommend a PM who's done great work for my out of town clients in the past. And if you're looking for an investor/agent to get coffee with while you're in town, I'd be happy to make the time! I'll send a connection request as well.

@DL Martin you need a Porsche. Time to get some Coke machines!

@Zachary LaJoye makes a couple of really good points in his posts here. I'd also add that for $80,000 and four 1-beds at $500/mo, you're likely looking at a floor plan with the dining room in the center of the apartment, which would make for a bedroom that people have to pass through to get from the livingroom to the kitchen (or possibly anywhere).

There are a few 2%+ properties on the MLS in Cincinnati right now, and they're listed at such low price points for a reason. Sounds like with this one, it's either location, condition, or both. That doesn't make this a bad deal, it just means that the buyer will need to be someone with an appetite for rough areas and rehab.