Multi-family/ Apartment Investing
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Cincinnati, OH · Member since 2016 · 116 posts · 83 votes
2yIm investing in Cincinnati Ohio. Everything is very cheap compared to other cities, and lots of multi families for sale with rents half of the market price. These properties can throw off serious cashflow with some new paint and floors. So I think its a great market, Im not sure how it stacks up to Detroit or any other city in the mid west. Also things here are more or less steady and predictable, no crazy boom and bust cycle like Phoenix for example.
32 Replies
- Cincinnati, OH · Member since 2016 · 116 posts · 83 votes2y
Im investing in Cincinnati Ohio. Everything is very cheap compared to other cities, and lots of multi families for sale with rents half of the market price. These properties can throw off serious cashflow with some new paint and floors. So I think its a great market, Im not sure how it stacks up to Detroit or any other city in the mid west. Also things here are more or less steady and predictable, no crazy boom and bust cycle like Phoenix for example.
- 2ySam McCormackBusiness MemberReal Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Greater Cincinnati market has a lot to look forward to. Growing areas, landlord friendly, cash flowing, appreciating areas, etc.
Northern Ky (NOT Louisville) is over shadowed by Cincy a lot so there is a lot of potential there just like Cincinnati. Let me know if there is anyway I can help!
Sam McCormack Realtor - 2yDanny RandazzoPro MemberApartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
@Grant T. I’d recommend you connect with John Casmon or Jason Yarusi as I believe they both have some experience with the markets you are considering.
Quote from @Sam McCormack:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Greater Cincinnati market has a lot to look forward to. Growing areas, landlord friendly, cash flowing, appreciating areas, etc.
Northern Ky (NOT Louisville) is over shadowed by Cincy a lot so there is a lot of potential there just like Cincinnati. Let me know if there is anyway I can help!
I like Cincinnati a lot, almost bought a 12 unit there. The crime just worries me but i have started more research to find better areas with lower crime out there.
- 2ySam McCormackBusiness MemberReal Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
Quote from @Grant T.:
Quote from @Sam McCormack:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Greater Cincinnati market has a lot to look forward to. Growing areas, landlord friendly, cash flowing, appreciating areas, etc.
Northern Ky (NOT Louisville) is over shadowed by Cincy a lot so there is a lot of potential there just like Cincinnati. Let me know if there is anyway I can help!
I like Cincinnati a lot, almost bought a 12 unit there. The crime just worries me but i have started more research to find better areas with lower crime out there.
Hey Grant, I agree that crime rate can be high in certain areas. You just have to have a trustworthy agent to let you know where those areas are. I have lived here my whole life and would to say I know Cincinnati quite well. And if not, then I figure out via a showing. I just shot you a message so we can talk about it
Sam McCormack Realtor - Member since 2020 · 25 posts · 6 votes2y
@Timur Salikov are you speaking of phoenix from the 90s and early 2000s?
Phoenix area is a lot stronger economically, large corporate and tech industries are moving to greater phoenix area. Demand is very high for housing. Unfortunately, MF is way over valued as is all mid west / west MF units.
- 2ySamuel DioufBusiness MemberReal Estate Agent · Columbus & Cleveland, OH · Member since 2023 · 1k+ posts · 1k+ votes
Personally, I invest in Columbus and Cincinnati. I believe there will be pretty high appreciation here, as many large companies are investing money in our area such as Intel, Google, and Amazon.
Reafco - Samuel Diouf528 Reviews - 2yMason WeissBusiness MemberRealtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
I have helped several people in the Phoenix market this year with multi-family properties, I think there are deals to be had in most markets with the right people on your team.
I have also seen quite a few solid deals in the Kansas City market that balances both appreciation and cash flow.
- Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes2y
@Grant T., based on your post about "almost bought a 12 unit", I am assuming that is the general size you are looking at. Somewhere between 5 and 20 units. If so, and decent midsized, and even smaller, type market will be fine. All cities noted are established. Maybe they are "thriving" but they all have industry, major universities, and generally are not going anywhere. As a whole, the country is low on housing units. But you do have to watch for what any developments coming in. These could cause, likely temporary, disruptions to your property when they hit lease up.
I invest in Cincinnati and live there. It is fine, but generally rare to find properties that will actually hit my return metrics anymore. Plus not worth my time as much, but that is a bit personal.
The biggest challenge you will have in any market is finding good deals. The cat is out of the bag in real estate, so there is still huge demand and limited properties available. You are going to have high crime areas in all markets, even Columbus has areas that I would not want to live or own property. I don't get why Cincinnati has this "bad wrap" about being high crime. I have lived here 30 years, and don't see it. But also live in my own bubble of where I live, shop, dine, take kids to school.
- 2yRemington LymanBusiness MemberReal Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
I am an investor here in Columbus, Ohio. I would be happy to connect with you!
Quote from @Evan Polaski:
@Grant T., based on your post about "almost bought a 12 unit", I am assuming that is the general size you are looking at. Somewhere between 5 and 20 units. If so, and decent midsized, and even smaller, type market will be fine. All cities noted are established. Maybe they are "thriving" but they all have industry, major universities, and generally are not going anywhere. As a whole, the country is low on housing units. But you do have to watch for what any developments coming in. These could cause, likely temporary, disruptions to your property when they hit lease up.
I invest in Cincinnati and live there. It is fine, but generally rare to find properties that will actually hit my return metrics anymore. Plus not worth my time as much, but that is a bit personal.
The biggest challenge you will have in any market is finding good deals. The cat is out of the bag in real estate, so there is still huge demand and limited properties available. You are going to have high crime areas in all markets, even Columbus has areas that I would not want to live or own property. I don't get why Cincinnati has this "bad wrap" about being high crime. I have lived here 30 years, and don't see it. But also live in my own bubble of where I live, shop, dine, take kids to school.
Interesting take, thanks for that coming from someone who lives in Cincinnati and keeping it real. You're the first person to be real and say Columbus isn't the holy land of rentals lol. And I agree, it seems like every time i find a "good deal", i see their financials and it wasn't close to what they portrayed it to be. I'm finding some stuff in smaller cities in Kentucky and Illinois, I'm just worried about invest in smaller populated areas.
Quote from @Mason Weiss:
I have helped several people in the Phoenix market this year with multi-family properties, I think there are deals to be had in most markets with the right people on your team.
I have also seen quite a few solid deals in the Kansas City market that balances both appreciation and cash flow.
I live in Socal so I'm relatively close to Phoenix. Open to investing pretty much anywhere. Feel free to send me anything if you think id be interested.
- Real Estate Broker · Kansas City Metro · Member since 2015 · 2k+ posts · 1k+ votes2y
@Grant T. First start with your backyard. If too expense then go to a market you have been too, family lives, spouse is from, friends love. If still too expense or doesn't cast a net you like, go with places that you like, you have been to or heard of. There is great real estate investing in almost any market right now. Just depends on your needs and goals. I love the KC market for appreciation and cash flow and is in my back yard. Others do to but others make a lot of money in many of the markets listed. Find a market and make it happen!
- Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes2y
@Grant T., "smaller populated areas" is clearly subjective. I wouldn't by a 20 unit property in a tiny rural town, population 200. But if you are talking decent sized towns with more than a couple major employer, you are likely to be fine with smallish properties. But like all investing, you are trading risks for return.
And to be blasphemous to these forums: a) cash flow is not always king (and you will find most people buying today are not getting any real cash flow until a property is stabilized) and b) if you are getting cash flow, it is either because you put a lot of money down (taking leverage risk off in exchange for return from cashflow) or are taking on additional tenant or capex risk (i.e. class C/d properties).
- 2yJames WilcoxBusiness MemberReal Estate Agent · Bowling Green KY ~ Lexington, KY · Member since 2015 · 1k+ posts · 603 votes
Quote from @Grant T.:
Quote from @Evan Polaski:
@Grant T., based on your post about "almost bought a 12 unit", I am assuming that is the general size you are looking at. Somewhere between 5 and 20 units. If so, and decent midsized, and even smaller, type market will be fine. All cities noted are established. Maybe they are "thriving" but they all have industry, major universities, and generally are not going anywhere. As a whole, the country is low on housing units. But you do have to watch for what any developments coming in. These could cause, likely temporary, disruptions to your property when they hit lease up.
I invest in Cincinnati and live there. It is fine, but generally rare to find properties that will actually hit my return metrics anymore. Plus not worth my time as much, but that is a bit personal.
The biggest challenge you will have in any market is finding good deals. The cat is out of the bag in real estate, so there is still huge demand and limited properties available. You are going to have high crime areas in all markets, even Columbus has areas that I would not want to live or own property. I don't get why Cincinnati has this "bad wrap" about being high crime. I have lived here 30 years, and don't see it. But also live in my own bubble of where I live, shop, dine, take kids to school.
Interesting take, thanks for that coming from someone who lives in Cincinnati and keeping it real. You're the first person to be real and say Columbus isn't the holy land of rentals lol. And I agree, it seems like every time i find a "good deal", i see their financials and it wasn't close to what they portrayed it to be. I'm finding some stuff in smaller cities in Kentucky and Illinois, I'm just worried about invest in smaller populated areas.
I will throw my 2 cents in here and maybe look to other parts of the bluegrass state. L-ville can be great but with it's crime and less than LL friendly policies I tend to shy away personally. However, you are not wrong with some of the numbers. I will stick with central & south/central KY personally.
REI James w/ eXp Realty54 Reviews - 2yJimmy LieuBusiness MemberReal Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votesHey Grant, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio. There's so many catalysts for population and job growth (Intel, Honda, Amazon, Nationwide Hospital, etc). I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation. As an investor and agent here in Columbus Ohio, if you have any questions or want to connect, definitely reach out!
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Jimmy Lieu, Red 1 Realty4.9121 Reviews - Member since 2023 · 84 posts · 35 votes2y
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Kansas City! Currently one of the fastest growing markets
Quote from @Jordan Myer:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Kansas City! Currently one of the fastest growing markets
currently trying to find best submarkets there. Any you like?
- Member since 2023 · 84 posts · 35 votes2y
Quote from @Grant T.:
Quote from @Jordan Myer:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Kansas City! Currently one of the fastest growing markets
currently trying to find best submarkets there. Any you like?
On the Kansas side - anything in Johnson County. On the Missouri side - Lee's Summit, Waldo, anything around Ward Parkway, Brookside, Westport
Quote from @Jordan Myer:
Quote from @Grant T.:
Quote from @Jordan Myer:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Kansas City! Currently one of the fastest growing markets
currently trying to find best submarkets there. Any you like?
On the Kansas side - anything in Johnson County. On the Missouri side - Lee's Summit, Waldo, anything around Ward Parkway, Brookside, Westport
Awesome i love checking out new markets. thanks Jordan!
- Member since 2023 · 84 posts · 35 votes2y
Quote from @Grant T.:
Quote from @Jordan Myer:
Quote from @Grant T.:
Quote from @Jordan Myer:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Kansas City! Currently one of the fastest growing markets
currently trying to find best submarkets there. Any you like?
On the Kansas side - anything in Johnson County. On the Missouri side - Lee's Summit, Waldo, anything around Ward Parkway, Brookside, Westport
Awesome i love checking out new markets. thanks Jordan!
My pleasure!
- Investor · Arlington, TX · Member since 2018 · 20 posts · 9 votes2y
Live in DFW and invest in DFW, Tulsa, OKC, Lubbock and College Station.
- Real Estate Broker · Tulsa, OK · Member since 2020 · 157 posts · 67 votes2y
Look into Oklahoma - specifically the Tulsa and OKC markets. I'd love to answer any questions you may have about it.
- Member since 2023 · 35 posts · 10 votes2y
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
@Grant T. do you mind sharing the smaller cities you're investing in Illinois?
- Member since 2023 · 35 posts · 10 votes2y
Quote from @Sam McCormack:
Quote from @Grant T.:
I am curious, if anyone is willing to share. Don't have to be too specific but i think a post like this can help a lot of people out.
Where are you currently investing in/looking to invest in multi family and why?
Personally, i am looking at Columbus Ohio, Louisville Kentucky, and smaller cities in Illinois.
I am leaning away from Columbus currently because everything is so expensive, I'm assuming due to projected appreciation. I like Louisville a lot because it seems like there are some areas where crime is low and pretty good rents for the money and Illinois has a lot of smaller cities that have great demographics. I know Columbus is great, but i'm currently looking for cashflow> appreciation.
Any responses would be great, weather you don't own a single property or own 1000. Love hearing others thoughts. Thanks.
Greater Cincinnati market has a lot to look forward to. Growing areas, landlord friendly, cash flowing, appreciating areas, etc.
Northern Ky (NOT Louisville) is over shadowed by Cincy a lot so there is a lot of potential there just like Cincinnati. Let me know if there is anyway I can help!
@Sam McCormack do you have an investor-friendly agent in Cincinnati and Northern Ky that you recommend?
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