Cincinnati, OH · Member since 2018 · 47 posts · 20 votes
Hi BP community! Just following up from my introduction post. I ended up purchasing two properties the same week and have already started renovations on one. The first property is in Cincinnati OH (Madisonville area). The second is in Cincinnati as well but is in the Mt. Healthy area. Hoping to have the first one done in the next 60 days. Day one went well with the contractor. Hopefully things stay on track. More to follow.
Hi, I just finished rehab of my first property in Cincinnati and have it for sale (Norwood area) I am out of state investor and had some issues finding a quality and trustworthy contractor. Finally got a good contractor to rehab everything. It has been on market for 60 days with very few people looking at it despite properties around it selling in less than a month at same price point. My realtor doesn't seem to be engaged and did one open house for an hour. Her feedback is that the front tree needs to be cut down and windows washed. These don't seem to be showstopper items for nobody looking at house. Has anyone had this kind of experience in the area?? Any suggestions?
Sounds like you should speak to some other realtors :)
Rental Property Investor · Cincinnati, OH · Member since 2016 · 69 posts · 26 votes
8y
Awesome, welcome to the group! What’s the plan for the house in Mt. Healthy, will you flip that after the Madison like house or are you planning on renting it?
Good Luck let us know if we can help in anyway.
Cincinnati, OH · Member since 2018 · 47 posts · 20 votes
8y
@Eric Kottner thanks, do you wholesale in the Cincinnati area? I bought my Mt Healthy house from a wholesaler. It was a pretty good first experience with it. My parents live in the Loveland area. I keep looking for a flip property there, it seems to be a hot area right now.
Cincinnati, OH · Member since 2018 · 47 posts · 20 votes
8y
@Nick Vehr thanks. I’ve been wanting to get into house flipping for many years now and I’m glad I finally did it.
The Mt Healthy house I plan to flip as well but I’ll do it after the Madisonville house no bought it really cheap for cash so I don’t mind sitting on it for a couple months. I’ve been watching Mt Healthy recently and it seems to be picking up a little bit. The neighborhood is older and quiet. I’m looking forward to that flip.
Realtor · Cincinnati, OH · Member since 2018 · 140 posts · 53 votes
8y
@Brian Reynolds that's great, I'm enjoying learning a lot on here too. I don't look into/invest too much in Cincinnati, actually. My dad and I have 3 rental properties (2 houses and a Duplex) in northern KY and some other out of state investments. I think there are some great opportunities around though (Oakley/Hyde Park are REALLY getting built on). I'd like to see where your Madisonville property is exactly, as I'm bordering Madisonville/place :).
Cincinnati, OH · Member since 2018 · 47 posts · 20 votes
8y
@Doug Phillips the house is on Desmond St. It’s north of Madison Rd. It will be the first house on the street that will be flipped but another house a couple doors down is under contract as a flip as well.
Realtor · Cincinnati, OH · Member since 2018 · 140 posts · 53 votes
8y
@Brian Reynolds Oh yes, that is within walking distance to me, ha. I look forward to seeing the progress, and if you get reliable contractors that do good work, I may ask for a reference on them. Currently gutting and turning my childhood home (in Fairfax) into a rental.
Fairfax, VA · Member since 2017 · 13 posts · 1 vote
8y
@doug Phillips my wife and I live in Fairfax and just gutted our townhome for a full remodel. Learned a lot!
Also my wife works in the countertop industry and could give you a good rate for countertops and referrals for the rest. PM me or view my profile if interested.
Realtor · Cincinnati, OH · Member since 2018 · 140 posts · 53 votes
8y
Hi @Steven Bates, I apologize- I meant Fairfax, OH (suburb of Cincinnati where I grew up). Sorry about that; if I ever make my way to Fairfax, VA (Have a good buddy out in VA Beach) I will definitely look into you and your wife's recommendations for projects out there! Thanks!
Fairfax, VA · Member since 2017 · 13 posts · 1 vote
8y
Whoops, well that makes sense. Haven't heard of Fairfax, Ohio should have guessed there is one though. I've been to the quite a few places in Ohio for work but never there. Was hearing quite a few podcasts on BP mention areas in Ohio for multifamily rentals, that's more our interest. Any knowledge in that area?
Cincinnati, OH · Member since 2018 · 47 posts · 20 votes
8y
@Steven Bates I actually live in Arlington, VA but invest in Cincinnati. I’m originally from there and visit there a couple times a month to see my daughter. The home prices are reasonable, much cheaper than Northern Virginia.
Rental Property Investor · Cincinnati, OH · Member since 2016 · 69 posts · 26 votes
8y
@Brian Reynolds, Good to hear. We are just finishing up a little flip in Mt Healthy. If you can get a deal on the house theres lots of money over there. The last one we did close to that area actually got bought up by an investor, which surprised me based on the numbers they were paying. Let us know if there is anything we can help ya with.
Cincinnati, OH · Member since 2018 · 47 posts · 20 votes
8y
@Nick Vehr. Thanks. Yeah I got a great deal on the mt healthy house. It was fire damaged but it was mostly cosmetic. I bought it for $8k and have an estimate from my contractor for $45k in renovations. ARV is $85-90k.
Hi, I just finished rehab of my first property in Cincinnati and have it for sale (Norwood area) I am out of state investor and had some issues finding a quality and trustworthy contractor. Finally got a good contractor to rehab everything. It has been on market for 60 days with very few people looking at it despite properties around it selling in less than a month at same price point. My realtor doesn't seem to be engaged and did one open house for an hour. Her feedback is that the front tree needs to be cut down and windows washed. These don't seem to be showstopper items for nobody looking at house. Has anyone had this kind of experience in the area?? Any suggestions?
Hi, I just finished rehab of my first property in Cincinnati and have it for sale (Norwood area) I am out of state investor and had some issues finding a quality and trustworthy contractor. Finally got a good contractor to rehab everything. It has been on market for 60 days with very few people looking at it despite properties around it selling in less than a month at same price point. My realtor doesn't seem to be engaged and did one open house for an hour. Her feedback is that the front tree needs to be cut down and windows washed. These don't seem to be showstopper items for nobody looking at house. Has anyone had this kind of experience in the area?? Any suggestions?
Sounds like you should speak to some other realtors :)