I'm new to BP and real estate investing in general. I'm looking to get started by doing some wholesale deals, and then doing my first flip. I'm very interested in the Cincinnati market. I've been there twice (flying there again soon) and checked out some of the up and coming/ transitioning areas such as OTR and Fairfax to get a feel for them. According to a few realtors I've spoken to there, those areas are very popular amongst investors. I understand there's a lot of buy and hold investors in Cincinnati, owning many rental units.
For those of you who have wholesaled/flipped in Cincinnati, I'd love to hear from you and gain some insight on what the market's like for wholesaling/flipping. It would really help me decide whether it's the right market for what I'm trying to do.
The market is Cincinnati is good for wholesaling and flipping, I've done some of both this year. I will tell you that there are a lot of wholesalers in Cincinnati as there probably are in most larger cities. I could see it being difficult to wholesale and find deals if you're not local, but then again I've never tried wholesaling remotely. Best of luck to you!
I can tell you there is stiff competition in OTR and throughout the urban core... IMO you’ve missed the boat on really good deals in OTR- not that you can’t find them, but they’re likely in need of hundreds of thousands of $ or on the fringe of OTR and downtown in areas near D neighborhoods— these are probably 10-20 years from gentrification.
That being said, they’re are still other areas in the urban core that are good for wholesaling, but it’s so street to street, I think you’d have a very difficult time without being local and truly knowing not just the neighborhood, but the street you’re buying on.
@Kyle Burnett Thanks for the info! Yeah, I imagine it would be challenging to wholesale remotely. That's why I'm trying to assess the market to see the potential. If it seems promising, I'll move there for the next bit so I can be closer to all the deals and get a better feel for all the different neighbourhoods. Cheers!
@Jake Walroth Good to know. I visited OTR not too long ago I could definitely see the transition happening, especially in certain parts. My research showed that it's very competitive, so I believe you when you when you say there aren't many good deals left there.
That's very true as well. I'll be visiting some other areas in town next week, so I'll definitely pay close attention the urban core. I'm just trying to gather as much info about the market as I can and get a feel for the different areas and streets. I'd definitely move to Cincy to make it easier and be closer to the deals. Thanks for the info!