Newbie in Cincinnati

[Eric Harrison]

Hey all

I’m new to the real estate game and I’ve been looking at properties in Cincinnati and greater cincy area over the last few months. I found a duplex with a one bedroom and a 3 bedroom for 72k. The rent for the 3 unit should more than pay for my mortgage and cash flow 500-600. This seems far too good to be true for my first deal. The property isn’t in the best area but it’s also not in the worst. I’m going to look at it next Friday and I’ve been talking to lenders. Anyone have any thoughts?

[Charles Seaman]

@Eric Harrison it does sound like an attractive deal from a numbers standpoint.  But there's definitely a reason why you're getting a deal with that type of projected return.  My first recommendation is to really find out the story behind it and see if the area is worse than you think.  Is the property occupied or vacant currently?  If it's occupied, make sure that the tenants are actually paying rent.  Maybe the seller is looking to get rid of it because he's had difficulty managing it and getting paid.  Just be very thorough as you research it.  Think of your job as essentially being a private investigator with the goal of uncovering all of the hidden details about the property.  Good luck with it!