Looking to buy my first SFH out of state in Cincinnati, OH

9 Replies

Team,

I am looking to buy SFH for cashflow in Cincinnati area through a turnkey provider.

I have the below options. I have never been to these location. Can you suggest which of these areas are good. And what should I be considering

1. Lockland, Ohio: Brandnew home for around 210k.

2. McCall Rd, Germantown, OH 45327: Rehab home for 133K

3. Harris Ave, Cincinnati, OH 45212: Rehab home for 130k

4. Woodsdale Ave, Cincinnati, OH 45216: Rehab home for 125k

5. Carthage Ave, Cincinnati, OH 45212: Rehab home for 110k

6. Hermosa Ave, Cincinnati, OH 45238: Rehab home for 110k

7. Rockdale Ave, Cincinnati, OH 45229: rehab for 100k


Sorry, it's a lot of options. Any feedback, much appreciated!!!!

Germantown would have my vote, but that’s because I’m primarily only familiar with Montgomery County. All of my rentals are here in Montgomery County, and it is also where I live and work. 

There are several other great investors and resources on here to help with the Cincinnati market. @Phillip Weickert being one of them.

However, I’d highly suggest exploring the Dayton market before buying any of those properties. Depending on your strategy, your return will be a lot better here in Dayton. There are still a lot of deals out here that meet the 2% rule.

Originally posted by @Ryan Ingram :

Germantown would have my vote, but that’s because I’m primarily only familiar with Montgomery County. All of my rentals are here in Montgomery County, and it is also where I live and work. 

There are several other great investors and resources on here to help with the Cincinnati market. @Phillip Weickert being one of them.

However, I’d highly suggest exploring the Dayton market before buying any of those properties. Depending on your strategy, your return will be a lot better here in Dayton. There are still a lot of deals out here that meet the 2% rule.

Ooh really? I'm looking to buy my first rental property and looking for a turnkey. Is there a turnkey company you recommend in that area? 

Originally posted by @Ryan Ingram :

Germantown would have my vote, but that’s because I’m primarily only familiar with Montgomery County. All of my rentals are here in Montgomery County, and it is also where I live and work. 

There are several other great investors and resources on here to help with the Cincinnati market. @Phillip Weickert being one of them.

However, I’d highly suggest exploring the Dayton market before buying any of those properties. Depending on your strategy, your return will be a lot better here in Dayton. There are still a lot of deals out here that meet the 2% rule.

@ryan ingram. Thank you for the feedback.

Originally posted by @Lynne Smith :
Originally posted by @Ryan Ingram:

Germantown would have my vote, but that’s because I’m primarily only familiar with Montgomery County. All of my rentals are here in Montgomery County, and it is also where I live and work. 

There are several other great investors and resources on here to help with the Cincinnati market. @Phillip Weickert being one of them.

However, I’d highly suggest exploring the Dayton market before buying any of those properties. Depending on your strategy, your return will be a lot better here in Dayton. There are still a lot of deals out here that meet the 2% rule.

Ooh really? I'm looking to buy my first rental property and looking for a turnkey. Is there a turnkey company you recommend in that area? 

 @lynne smith: I have not purchased anything yet. So can't share my experience. But if you google you would find multiple turnkey provides in area.

Although there is a ton of development in the area, Rockdale is a C-/D+.  I wouldn't buy there.  Carthage is probably a C- in my opinion.  I'd probably cross both off the list.

@Ryan Ingram .  Thanks for the mention. 

Majority of those are in rougher areas (at least in the Cincinnati). However some are starting to see change (Avondale).  Now the change could provide a lot of upside, but it maybe years before it sees the major change.  It would depend what your looking for (Cash flow vs appreciation)  

Outside of the Norwood areas, I wouldn't purchase in those areas, if you are investing for quicker appreciation.  Most of those areas will keep consistent on the appreciation, but should see some good cashflow.  The more risk you take, the more reward you can see.  However there is always the downside too.  

The other obstacle for Cincinnati is property managers.  I personally have not seen to many great property managers.  I have seen a lot of out of state investors leave because of the low quality.  I network a lot of with real estate investors (in state and out).  I have a couple that I think do a pretty good job, but their prices are higher.  Even though their prices are higher, I believe their quality is much better. 

Originally posted by @Phillip Weickert :

@Ryan Ingram .  Thanks for the mention. 

Majority of those are in rougher areas (at least in the Cincinnati). However some are starting to see change (Avondale).  Now the change could provide a lot of upside, but it maybe years before it sees the major change.  It would depend what your looking for (Cash flow vs appreciation)  

Outside of the Norwood areas, I wouldn't purchase in those areas, if you are investing for quicker appreciation.  Most of those areas will keep consistent on the appreciation, but should see some good cashflow.  The more risk you take, the more reward you can see.  However there is always the downside too.  

The other obstacle for Cincinnati is property managers.  I personally have not seen to many great property managers.  I have seen a lot of out of state investors leave because of the low quality.  I network a lot of with real estate investors (in state and out).  I have a couple that I think do a pretty good job, but their prices are higher.  Even though their prices are higher, I believe their quality is much better. 

 Phillip, Thank you for the feedback.