Cincinnati Market: What should I know before buying?

Question

I am interested in going outside of my local DFW market to Cincinnati; where my in-laws live. The real estate market there is definitely appealing that the homes are more affordable with lower property taxes, but what are somethings I should be aware of?

Mitch Huffman · Answer

@Jake Flosi

I would say find someone that really knows the different areas and where to invest.  There is a wide variety of neighborhoods and investing in the wrong ones can be detrimental.

I would be happy to talk a bit about this and advise on where I like to advise my customers to invest.

Good luck!

Zachary Elliott · Answer

Jake,

Greater Cincinnati is a great market. One thing that comes to mind within the City of Cincinnati (from a landlording perspective) is that the city has instituted some new rules on offering alternatives to a security deposit. At this point, I do believe this only applies with people that own at least 25 units or more, but is still something to be aware of.

I personally have investments in Northern Kentucky, which is a suburb of Cincinnati. I've found Kentucky to be very landlord friendly with decent appreciation and I've had no issues finding renters for my units. The Cincinnati area has a large renter base. Northern Kentucky is also seeing a lot of growth due to some larger improvements in the area. Specifically, Amazon is building a warehouse at the airport (which is located in Northern Kentucky), which will be one of the largest free standing buildings in the world when it is completed. I think greater Cincinnati is primed for a lot of growth in the coming years.

If you want to talk about RE, feel free to DM me and we can find a time to speak. Good luck with your investing!

Bryce Collins · Answer

@Jake Flosi The neighborhoods are key. Cincinnati is very interesting market that can vary dramatically from block to block. Many different areas in the city are going through a revival, but sellers are pricing in the appreciation in the asking price on run-down homes. If looking for MF, I'd recommend the Westside neighborhoods; they have much more attractive prices, but would be considered B/C properties. The neighborhoods you look at will depend on the RE strategy you want to pursue.

Jake Flosi · Answer

@Zachary Elliott Thanks for the information. We've driven briefly around the area, but never gone through the sub-divisions. I will DM you and we can touch base. Same for you @Mitch Huffman!

Cincinnati Market: What should I know before buying?

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