Looking for experienced investors in Cincinnati
I’m looking to get some input on a deal in Cincinnati. Would like to get an idea of what other investors are paying for rehabs in the Avondale area. Looking to do a Brrrr in this area and trying to figure out what is going to take to rehab this project from investors who have a solid team already built in this area.
@Parker Foley, active investor, but small time and have a stable of contractors I like, but I don't "own my team". And those I know that "own their team" are so busy they are not lending out work.
What I have seen, just completing a gut remodel of a rental in March and early stages on a similar scope for a flip, prices for labor are up about 50% from 6 months ago. Admittedly, I pull permits on all my work, and value professionalism and quality of work. I will pay a premium for someone to show up when they say, issue professional invoices, not require weekly draws, etc.
Like all things construction: you have to choose two: price, quality, timeline. But even the "chuck and a truck" guys are costing significantly more than they did 6 months ago, per my other rehabber friends.
In terms of Avondale, it is really a street by street neighborhood. Some streets are great, and likely not the one you are finding a BRRR on (think Rosehill and those that directly hit). This area is commonly known as North Avondale. And then there are streets in Avondale that I would prefer not to drive on, and certainly would not feel comfortable sending my wife down at night, alone.
