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
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
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
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
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).