Bay Area, CA · Member since 2015 · 13 posts · 3 votes
Hi everyone, I'm looking for a turnkey property in the Cincinnati area. Can anyone recommend any companies? Preferably ones that you've actually purchased from.
My main criteria are:
1) cashflow - targeting $500/month (20-25% cash on cash). Budget is ~$30K but am flexible (so ~$150K purchase price at 20% down)
2) working with a company that has a very good reputation and experienced property managers
Investor · Cincinnati, OH · Member since 2016 · 208 posts · 157 votes
9y
Jimmy L. Local investor in cincinnati. I direct mail market for personal investments. I wholesale the deals I can't take down.
I work in your price point typically $120k-$180k.
B areas, usually hit 1.5-1.75% mark.
Cash on cash returns between 15-30%.
Born and raised in cincinnati and am happy to share market info in further detail.
If you'd like to chat further PM me.
Jake
Specialist · Charlotte, NC · Member since 2016 · 239 posts · 117 votes
9y
Cleveland has some great opportunities but all Midwest cities do. Cincinnati has been growing fantastic lately and I 100% think it will soon be a very hot market. I will shoot you a PM
Investor · Cincinnati, OH · Member since 2016 · 208 posts · 157 votes
9y
Jimmy L. Local investor in cincinnati. I direct mail market for personal investments. I wholesale the deals I can't take down.
I work in your price point typically $120k-$180k.
B areas, usually hit 1.5-1.75% mark.
Cash on cash returns between 15-30%.
Born and raised in cincinnati and am happy to share market info in further detail.
If you'd like to chat further PM me.
Jake
Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
9y
In that $500/mo cash flow are you accounting for soft costs - vacancy, maintenance, cap-ex? Further are you allowing in that $30k, setting aside some for closing costs and reserves to cover the above?
My quick analysis is you are not being realistic in your expectations of a turnkey property that would roughly cost $125k ($25 down on 80/20 loan).