All Forum Posts by: Timur Salikov

What about landscaping? Drywall repairs? Looks like a lot of work for a single person. : )

I use the Ikea kitchen planner. When you finish designing, you can use generic cabinets from Home Depot as long as they are the same dimension.

Yeah, I don't see why not. Its your property, you bought it from the seller.

- Need to move ASAP and will take unit without seeing it

- Must pay cash, don't have bank account

- Pervious landlord or roommate is a bad person because...

- Trying to negotiate rent 

Hey guys,

I wanna get your opinion on one of my latest deals and see how it stacks up to other investors in my area.

4 Unit in East Walnut Hills purchased for 320k with 80k down.

Rents were as following: 

- Studio: $465

- 1 Bedroom: $650

- Larger 1 Bedroom: $695

- 2 bedrooms: $850

Rehab of various degrees in 3 units. Cost: 52k

New rents:

- Studio: $465

- 1 Bedroom: $1195

- Larger 1 Bedroom: $1300

- 2 bedrooms: $1700

All in at 132k.

Monthly rents collected $466015% for repairs and maintenance $700Monthly mortgage, insurance and taxes: $2111

Monthly profit: $1850

16.8% Cash on cash return. Seems like a decent return but not a crazy home run. What do you guys think?

Not sure about on line, but this is the one most ppl go to:

https://www.bestevercre.com/cincinnati-meetup

Im a new investor compared to some you. Im just surprised there are a ton of buildings where rents can be literately doubled if you just change the floor and paint the walls. Those are amazing opportunities compared to what I saw in Los Angeles with rent controlled units and total rents adding up to only half of the mortgage. But I guess I really missed the good old days in the 90s? 

Hey!
I own 10 units in the Cincy area and 3 in North Avondale on Lowry Ave. Send me a DM if you wanna chat about the area, I have some thoughts on it. Basically it's not as "hot" as East Walnut Hills. I have a 4 unit in East Walnut Hills and annoying wholesalers call twice weekly about it. Nobody has ever called asking to buy my N Avondale property. So I see opportunity, you can invest and offer way lower amounts as you have almost no competition especially if you are dealing with off market deals. The area is very street by street, with some very pleasant areas. A nicely painted 2 bedroom would go for $1400 as opposed to $1600 in other hot areas of the city. Not a huge difference especially if you get the building for much lower. Also, one of my younger tenants who moved in not too long ago said she wanted to live in the North Side but had to expand her search area to N Avondale because she was priced out. One thing to consider.. Anyway, I wouldn't expect a lot of appreciation but solid cash flow can be found.

My past 2 landscape guys had issues with their truck and quit. I need a reliable person who would cut the grass at 3 of my properties in Cincy. Anyone have a recommendation? 

Unfortunately this is all true. This real estate agent helped me buy a house in 2019. Ever since then we stayed in touch. When she found out a tenant has been rough on my property she offered to have her handyman make some repairs. Because she owns really nice AirBnbs I trusted her when she told me her guy was super detail oriented and a rockstar. So when this handyman started offering additional upgrades I agreed. He offered to change the layout of the house, put in 2 new bathrooms, replace all interior doors. I felt lucky I knew someone I could trust and had my back.
As time went on, they missed ever single deadline. The pictures I started to get back were very bad and the things they didn’t take photos of were even worse. After 3 months and 17k in materials I pulled the plug and told her handyman to stop work. I drove all the way from Ohio to California and found this disaster. I was devastated. Not only was I paying her handyman $265 a day, I was also paying this agent $100 to manage him. I don’t know how she thought she can get away with this horrible remodel. The house is completely unrentable.
The only solution I can come up with is demo everything and remodel it myself the best I can.