Mid-West Road Trip!

Multi-Family and Apartment Investing
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Mid-West Road Trip!

Steven TawreseyPro Member
Flipper/Rehabber · Bainbridge Island, WA · Member since 2009 · 97 posts · 70 votes

I need your help BP!

I am going to be taking a week long road trip during the week of August 3rd or August 10th. I am interested in seeing:

Cleveland, Pittsburgh, Columbus, Cincinnati, Louisville and Indianapolis. Anyone have bad things to say about these places?

My goal is to buy B/C-type turn-key properties in younger "hipster' neighborhoods. Can anyone recommend some possible neighborhoods in the cities listed above? Anyone want a few drinks on me in these places? help me get to know your town?

My plan is to spend a day or two in each city. I would like to meet as many buyers agents, property managers, contractors and of course, turn-key providers as possible. Anyone have any recommendations?

Looking forward to any help you can give. Thanks!

~Steve

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Jynell BerkshirePro Member
Real Estate Attorney, Broker, Investor · Indianapolis, IN · Member since 2013 · 207 posts · 58 votes
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Steven,

Happy to speak with you as to Indianapolis. Keep me posted.

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  • Bryan C.
    Investor · Spokane, WA · Member since 2014 · 733 posts · 155 votes
    11y

    That sounds like a lot of work crammed into a small timeframe for each City...most of these cities the properties can be pretty spread out and so are the agents, investors etc...suggest 2 days each city.  Good luck!  

    0Reply
  • Mya Toohey
    Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    11y

    Hi Steven,

    I am an investor friendly agent here in Louisville and also invest in buy and hold rental properties.  Feel free to message me if you have any questions about the Louisville market.

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  • Jynell BerkshirePro Member
    Real Estate Attorney, Broker, Investor · Indianapolis, IN · Member since 2013 · 207 posts · 58 votes
    11y

    Steven,

    Happy to speak with you as to Indianapolis. Keep me posted.

    1Reply
  • Nancy Brook
    Investor, Realtor, Writer, Podcaster · Billings, MT · Member since 2013 · 175 posts · 97 votes
    11y
    Sounds like a great time! Enjoy the ride. My kind of Property Adventure!
    0Reply
  • Erin Tarantino
    Cincinnati, OH · Member since 2015 · 18 posts · 8 votes
    11y
    OTR is cool in Cincinnati also Northside I'm always out and about feel free to message me.
    0Reply
  • Account Closed
    Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
    11y
    Steven Tawresey make sure you hook up with Ryan Mullin when you stop in Indy. Not only is he an expert in urban Indianapolis but may have the kind of properties you are looking for. He owns FS houses and I use them to buy turnkey properties and manage them for me too. Their whole team is awesome and fun to work with.
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  • Steven TawreseyPro Member
    OP
    Flipper/Rehabber · Bainbridge Island, WA · Member since 2009 · 97 posts · 70 votes
    11y

    Thanks for the input everyone. I know I can't hit all these cities so my plan of attack will be based on recommendations. Keep em coming!

    I will PM when I have a bit more time on Monday while sitting at the courthouse for jury duty.

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  • Account Closed
    Real Estate Agent · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
    11y

    reach out to all the turnkey people They can show you properties neighborhoods save you a bunch of time The web site  

    TurnKey-Reviews.com has a list of many of them Some of the most frequent posters are @James Wise,@Engelo Rumora,etc

    1Reply
  • Chuck B.Pro Member
    Investor · Louisville, KY · Member since 2011 · 279 posts · 248 votes
    11y

    @Steven Tawresey - RE: Louisville, KY Hipster neighborhoods - Germantown has already popped upwards.  Look both north and south of Germantown now.  I'm buying north in Shelby Park - It's a total path of progress type play but I can wax poetic on why I think it's a good bet.  I'd be a buyer for houses south of Germantown too if I can find a good deal. 

    Generally speaking, urban core is exploding in Louisville.  It's like Mark Twain said, we're always 20 years behind the times.  ;)

    Yell if you'd like to chat, I'd be happy to take you on a lunchtime or Saturday tour should you come to town. 

    Best,
     - Chuck

    1Reply
  • Mimi Booker
    Investor · Spring, TX · Member since 2015 · 29 posts · 6 votes
    11y
    Originally posted by @Steven Tawresey:

     I am interested in seeing:

    Cleveland, Pittsburgh, Columbus, Cincinnati, Louisville and Indianapolis.  

    Said no one, ever...  LOL

    1Reply
  • Eric D.
    Investor · Eagan, MN · Member since 2014 · 86 posts · 58 votes
    11y

    If you come to Minnesota, I am here in Eagan, MN.

    There will not be any snow on the ground in August, or at least there should not be.  You can leave the parka at home.

    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    11y
    Originally posted by @Account Closed:

    reach out to all the turnkey people They can show you properties neighborhoods save you a bunch of time The web site  

    TurnKey-Reviews.com has a list of many of them Some of the most frequent posters are @James Wise,@Engelo Rumora,etc

    Thanks for the mention Steven,

    Have a great day.

    Podcast Guest on Show #89
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  • Shawn Holsapple
    Residential Real Estate Broker · Indianapolis, IN · Member since 2010 · 1k+ posts · 557 votes
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    Let me know when you're rolling through Indianapolis!

    0Reply
  • Chuck B.Pro Member
    Investor · Louisville, KY · Member since 2011 · 279 posts · 248 votes
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    @Mimi Booker -  Ouch!  :)

    0Reply
  • Andy Sturm
    Buy and Hold Investor · Cincinnati, OH · Member since 2014 · 69 posts · 10 votes
    11y

    Some trendy areas in Cincinnati are Hyde Park, Oakley, Mt. Lookout, Northside, and Over the Rhine. Northside and over the Rhine are years into revitalization but they both still have a lot of rough areas in them. I'd want boots on the ground to check out the house in those areas. At least to get started in them. In my opinion Hyde Park and Mt. Lookout are going to be your best bet for trendy high dollar sales. Hyde park average home price is 640,000 average dom is about 80 last I checked. Did a flip there back in April and had 6 offers in the first 2 days. The area is really in demand.

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  • Sean WilliamsBusiness Member
    Real Estate Agent · Louisville, KY · Member since 2014 · 124 posts · 56 votes
    11y

    @Steven Tawresey I second the areas Chuck mentioned above in Louisville, KY including the NuLu district to the north of Germantown. Also, certain pockets of the Highlands and Frankfort Ave areas are good as well if you'd interested in multi-family units, however they'll be harder to come by in today's market.

    I'm a local broker associate in the area and work a great deal with this age class of buyers and renters so I'd be happy to direct you in the places they're looking to currently rent.

    0Reply
  • Tyler Maddox
    Investor · Columbus, OH · Member since 2015 · 14 posts · 0 votes
    11y

    @Steven Tawresey from a Columbus perspective, German Village/Harrison West/Short North/Italian Village are the hotspot for hipsters. If you plan on coming to Columbus get in touch with this property manager that knows the city very well.. @Peter Lohmann


    Good luck!

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  • Steven TawreseyPro Member
    OP
    Flipper/Rehabber · Bainbridge Island, WA · Member since 2009 · 97 posts · 70 votes
    11y
    Originally posted by @Account Closed:
    Steven Tawresey make sure you hook up with Ryan Mullin when you stop in Indy. 

    Thanks for the recommendation. Is Ryan Mullin on BP? Can you point me in a direction?

    Steve

    0Reply
  • Account Closed
    Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
    11y

    @Steven Tawresey check out www.Fshouses.com

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  • Jason Hanson
    Real Estate Investor and Mortgage Broker · Louisville, KY · Member since 2014 · 1 post · 0 votes
    11y

    Steve-

    My partners and I are turn-key providers in Louisville, KY.  We specialize in b/c properties and would be happy to show you a few of our current projects and around the parts of Louisville that fit your goals.

    Message me with days you will be in Louisville and my partners and I will set aside time to meet with you.

    Jason Hanson

    Freedom Property Group

    0Reply
  • Cameron Marchese
    Rental Property Investor · Pittsburgh, PA · Member since 2015 · 4 posts · 0 votes
    11y

    Pittsburgh's a great city and has a number of neighborhoods that fit what you're looking for.  I can point you in the right direction on what areas to look, and help out with the contractor/property manager recommendations.  Message me if you'd like some more information. 

    0Reply
  • Ben G.Pro Member
    Investor · Indianapolis, IN · Member since 2013 · 647 posts · 196 votes
    11y

    If you come through Indianapolis, I'd be more than happy to take you on some appointments with me, keep in mind I deal direct with sellers then sell to the turnkey companies.  Therefore, you have to be able to tolerate the smell of animal urine occasionally. :)

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  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    11y

    @Steven Tawresey All of those can be good cash flow markets if you buy right. The key is knowing the right neighborhoods and buying the right properties. I like Indianapolis and Kansas City a lot. You might want to add KC to your list. Feel free to reach out if I can be of any help.

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  • Steven TawreseyPro Member
    OP
    Flipper/Rehabber · Bainbridge Island, WA · Member since 2009 · 97 posts · 70 votes
    11y

    I did it! And what a trip!

    Thanks to everyone who met with me, drove me around, gave me tips on food, drinks and parts of town to stay away from. There are many people I met with not on bigger pockets so I'll be thanking them through email.Those who are... special thanks to @Kevin Hoag, @Michael Swan, @Isaac Rowe, @Ian Hoover, @Bob Mason, @Cameron Marchese, @Shawn Holsapple, @Ryan Mullin who helped me refine my investment strategy, even if you showed me assets that I now know I'm not interested in.

    The whole trip felt a bit like a choose your own adventure book. When I landed in Cleveland, I had 1 meeting set up. After that meeting, I had two referrals. So, I chose one and went with it. From there, everything started falling like dominos.  3+ meetings per day later, I'm home recovering and processing. 

    Lots to think about. I kept a verbal journal on the trip (through iphone voice dictation) so once I get through editing that, I'll try to post some of my most poignant real estate travel observations.

    Anyways, cheers. 

    3Reply
  • Bob Mason
    Pittsburgh, PA · Member since 2015 · 58 posts · 23 votes
    11y

    great meeting up with you Steve. Best of luck withwhichhever strategy you decide upon .

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