New York, NY · Member since 2017 · 2 posts · 0 votes
Hello! This is my first post on BP. I want to start off by thanking everyone who’s contributed to the forums. I have already learned so much from BP’s website!
I am from NY and looking for my first property to buy and hold in the Cincinnati area. I will be flying to Ohio soon but first I am hoping to get some recommendations on neighborhoods with good cash-flow. If someone could also recommend a real estate agent that works with investors that would be awesome!
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
9y
Pure cash flow - Westwood, Delhi, Avondale, College Hill, Price Hill and other C class areas. Good areas with potential OTR, Walnut hills (dicey area), Clifton, Hyde Park, Mount adams, Pleasant Ridge, Oakley. Cincinnati has tons of neighborhoods and is perhaps one of the most difficult cities to navigate because it really is not set up on a grid - more like roads winding around the hills and valleys.
Rental Property Investor · Miami, FL · Member since 2017 · 2k+ posts · 911 votes
9y
Nadia.
While Cincinnati is a great market, the price to rent ratio is pretty low since the city has blown up. Have you thought about investing in Cleveland instead?
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
9y
Pure cash flow - Westwood, Delhi, Avondale, College Hill, Price Hill and other C class areas. Good areas with potential OTR, Walnut hills (dicey area), Clifton, Hyde Park, Mount adams, Pleasant Ridge, Oakley. Cincinnati has tons of neighborhoods and is perhaps one of the most difficult cities to navigate because it really is not set up on a grid - more like roads winding around the hills and valleys.
Investor · Cincinnati, OH · Member since 2016 · 208 posts · 157 votes
9y
@Nadia Santacruz I've grown up in Cincinnati and like @Todd Dexheimer said it is a very street to street ..... but you can pretty much say that about every city in the midwest... for example, Todd thinks Walnut Hills is a "Dicey" area, but it's quickly gentrifying, and many think it's primed to be the next Oakley, OTR, Hyde Park, etc. Walnut Hills has $30,000 homes, but also has $1,000,000 + homes.... so to each their own.
For Cashflow, I invest near the University of Cincinnati, because I get the same rents you'd find in Hyde Park and Oakley, but I pay 50% purchase price of homes in said neighborhoods.
If you'd like to discuss the city in further details and share some of your specific goals, I'd be happy to help--PM me.
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
9y
@Jake Walroth that's my point on Walnut hills. $30k house and $1M house in the same neighborhood is dicey. There are some areas that have arrived and other areas that have not. I would say Walnut Hills is a fantastic place to be if it continues to gentrify. If it stops, then there will still be areas that are C areas. I personally will invest there on any "good" deal I find. The University area is very good to invest in with decent returns and a safe bet
New York, NY · Member since 2017 · 2 posts · 0 votes
9y
@Antoine Martel Hi Antoine. I am open to all areas but right now I am looking particularly at Cincinnati before anywhere else because it looks like a good spot for appreciation. Do you have an idea of what the cap rates are for houses that are in the $60K price range in Cincinnati?
@Todd Dexheimer Hi Todd. Thank you for the recommendations. Ideally, I would like to purchase a duplex so that I can also house hack.
@Jake Walroth Hi Jake. Thanks for the helpful information!
Investor · Cincinnati, OH · Member since 2016 · 208 posts · 157 votes
9y
@Nadia Santacruz I started off doing same thing you're going to do- Househack.
- Ask for the cincinnati port authority grant- from whichever lender you use, that grant paid my entire down payment so all I came to the closing table with for a $175k house was $3200 in closing costs - To qualify you must have 700 credit score and not make over $100k. Now your interest rate will be a tad higher, but t was worth it to me because with such little down, I was able to buy a pure rental property just 4 months after buying my house hack.
Virtual Assistant · Scottsdale, AZ · Member since 2017 · 236 posts · 38 votes
9y
@Nadia Santacruz Hey there, Nadia. Great to see you take that first and maybe most difficult step in real estate investment: reaching out on BiggerPockets. Congratulations and I wish you a ton of success.
Pure cash flow - Westwood, Delhi, Avondale, College Hill, Price Hill and other C class areas. Good areas with potential OTR, Walnut hills (dicey area), Clifton, Hyde Park, Mount adams, Pleasant Ridge, Oakley. Cincinnati has tons of neighborhoods and is perhaps one of the most difficult cities to navigate because it really is not set up on a grid - more like roads winding around the hills and valleys.
What size properties are you looking to buy?
Whoa!
Westwood, Avondale, College Hill, and Price Hill are C Class?????
I thought that C Class meant that the plastic radiator in your wife's BMW cracks and she feels safe waiting for AAA to come and flat bed the car...
Westwood? Avondale? College Hill? Price Hill? I don't think so.
Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
9y
@DL Martin Westwood is a huge neighborhood and some parts would be D class, but most of it is C class. Avondale you could argue that is a good portion is D class, but there are definitely C class areas, College Hill is nearly all C class, you could argue that a few spots could be D class, but overall it is C. I am not as familiar with Price hill so I will go with its D class.
It just goes to show opinions vary and neighborhoods vary. I would call parts of OTR D class and other parts A class, same could be said with Walnut hills.
@Antoine Martel Hi Antoine. I am open to all areas but right now I am looking particularly at Cincinnati before anywhere else because it looks like a good spot for appreciation. Do you have an idea of what the cap rates are for houses that are in the $60K price range in Cincinnati?
@Todd Dexheimer Hi Todd. Thank you for the recommendations. Ideally, I would like to purchase a duplex so that I can also house hack.
@Jake Walroth Hi Jake. Thanks for the helpful information!
Cincinnati, OH · Member since 2015 · 214 posts · 107 votes
9y
@Nadia
What are you looking for in a neighborhood considering you are going to house hack? I house hack an apartment in my 5 unit building and love it on the east side of Cincinnati.
Insurance Agent · Lancaster, PA · Member since 2016 · 9 posts · 4 votes
8y
Jumping on the band wagon...
Looking to house hack a duplex,tri or quad along the 71 corridor (norwood to mason)
Was also thinking about around Xavier University.
Currently using Craigslist and a realtor/MLS
Whats a good price for a duplex or quad?
I was thinking of $160K or lower
It is very strange coming from the northeast, in Cincinnati it truly does vary greatly from house to house/ street to street
Real Estate Agent · Cincinnati, OH · Member since 2016 · 169 posts · 146 votes
8y
@Brian Mahon you have noticed about Cincinnati what I tell everyone. There is quite a bit of variety in properties and it can vary street by street as you mentioned.
Properties around the Xavier area would be good to house hack and I think you should find some decent properties for 160K or lower. Norwood itself would also be good to consider as there is some variety of neighborhoods and buildings that that should meet your price point requirements.
What investment grade of area are you looking into? A, B, C etc? Northern Kentucky is also a good area to consider unless you really want to stay north of the downtown area.
Rental Property Investor · Charlotte, NC · Member since 2016 · 293 posts · 88 votes
8y
What does everyone think of Delhi? The stats online show household income of 38k, lower crime, and low vacancy but rents seem lower in this area. I'd say solid C?