Updated almost 4 years ago on . Most recent reply
In Cincinnati too hot right now?
Hi Im and out of state investor. I was in Cincinnati in the last few weeks and I have been trying hard to make an offer on a property. I just feels to me like the market is still high and sellers are still asking for more than homes are worth. I have had agents tell me, 'well the rents support the purchase price'. I get that but is the value there? Is this the new normal or is this market going to dip a little. I feel like inventory is increasing since I was there 30 days ago already. Can anyone shed any light on what they are seeing? Should I wait a few more months?
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@Damien Anderson As an active Investor in Cincinnati and Dayton, I can relate to your frustration. If the income supports the price, does it meet your specific investment criteria? Regardless of the “right time” I am trying to shift to seeing value where others don’t. Can the property be expanded/rehabbed to maximize value and increase income with more bedrooms etc.? Is the location of the property in an area that could see revitalization or new construction that could impact the future value or rents? As @Joseph Cornwell mentioned, I’m looking forward to picking up another property before year end as other buyers may be more focused on the Holidays.