New to Real Estate · Cincinnati, OH · Member since 2019 · 7 posts · 0 votes
Looking to invest for passive income in Cincy. I'm brand new to this and can go in any direction at this point. I'm educating myself on different paths and it seems like there are many directions to go and be successful. What market (Buy & hold single family/multi family, storage, mobile home, etc) would people recommend that isn't over saturated and would not be overwhelming for a brand new investor?
Real Estate Agent · Cincinnati, OH · Member since 2014 · 170 posts · 102 votes
6y
Hey @Mark Elder welcome to BP and the Cincinnati investing community!
If your primary interest is passive income, then I recommend you focus on finding great partners instead of great markets. There are a lot of high-quality investors in Cincy and the surrounding areas who would be able to help you get a solid return on your money without you needing to develop the expertise they already have. And for operators like us it's very beneficial to partner with people like you because it allows us to do more of what we're already already good at when we have access to more capital.
Happy to connect if you'd like! And/Or to refer some great people I know!
Wholesaler · Durham, NC · Member since 2018 · 157 posts · 50 votes
6y
Hi Mark, it's worthwhile to do a personal audit and reflection and decide how much time, knowledge, energy, and money you want or are able to put in to determine which REI strategy to pursue. The famous question of "what's your why?" can dictate your "how." Everything requires work and everything requires connections and networking. I suggest visiting local meet ups in Cincy and observing the action then aligning yourself with folks and strategies that work for you. Good luck!
Real Estate Agent · Cincinnati, OH · Member since 2014 · 170 posts · 102 votes
6y
Hey @Mark Elder welcome to BP and the Cincinnati investing community!
If your primary interest is passive income, then I recommend you focus on finding great partners instead of great markets. There are a lot of high-quality investors in Cincy and the surrounding areas who would be able to help you get a solid return on your money without you needing to develop the expertise they already have. And for operators like us it's very beneficial to partner with people like you because it allows us to do more of what we're already already good at when we have access to more capital.
Happy to connect if you'd like! And/Or to refer some great people I know!
Real Estate Agent · Cincinnati, OH · Member since 2017 · 51 posts · 63 votes
6y
Hey @Mark Elder I'm glad to hear that you are ready to start looking at real estate as a possible investment vehicle.
The answer does depend on how much time, energy, and money you are willing to invest as well as your personal risk tolerance, and investing philosophy. Personally me and my investors like multifamily because of the ability to scale quickly. For example we went from a single duplex to 175 doors in less than 3 years and with almost no experience. I personally think RE investors are only limited by there ability and capacity to learn themselves or find people who have already learned that are willing to share.
Cincinnati is currently getting a ton of attention from investors nationwide so the playing field is competitive but I wouldn't let that stop you.
I think the reality is that none of these are really that "passive" but mobile home and self storage may have less local competition.
I would do a deep dive into each one and then see which one best aligns with your current goals and interests. Each type will have their pros and cons. Something will eventually click for you and you will know exactly where you need to be.
Looking to invest for passive income in Cincy. I'm brand new to this and can go in any direction at this point. I'm educating myself on different paths and it seems like there are many directions to go and be successful. What market (Buy & hold single family/multi family, storage, mobile home, etc) would people recommend that isn't over saturated and would not be overwhelming for a brand new investor?
Mark - welcome to the site! My advice, if your goal is passive income, is to find an operator (someone who puts together and operates real estate investment deals), and partner up with them. It doesn't matter so much where that operator is located. You can be in cincy, and invest with someone who is buying in Florida and make great passive returns.
New to Real Estate · Cincinnati, OH · Member since 2019 · 7 posts · 0 votes
6y
@Heshel Mangel thank you for your advice. I don’t think I’m brave enough to go out of town on my first property. Probably doesn’t matter but I’d feel better about the deal if I am able to see it myself. Maybe as I gain more confidence I can move in that direction.