Trying to wholesale a 8 unit in cincinnati

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Trying to wholesale a 8 unit in cincinnati

LeAuna S.
Atlanta, GA · Member since 2017 · 16 posts · 1 vote

I'm a wholesaler in Cincinnati, trying to wholesale a 8 unit apartment 1b/1b and seller wants 5 times the gross. Units go for $552 each, I'm thinking the price is a bit high for my liking, what do you think? 

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  • Michael Ealy
    Developer · Cincinnati, OH · Member since 2018 · 1k+ posts · 3k+ votes
    7y
    Originally posted by @LeAuna S.:

    I'm a wholesaler in Atlanta and I'm working on writing down a spreadsheet of how much per sq feet a rehab may cost by category. 

    Here are my numbers:

    Where are the numbers?

    I am in Cincinnati. 

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  • LeAuna S.
    OP
    Atlanta, GA · Member since 2017 · 16 posts · 1 vote
    7y
    Originally posted by @Michael Ealy:
    Originally posted by @LeAuna S.:

    I'm a wholesaler in Atlanta and I'm working on writing down a spreadsheet of how much per sq feet a rehab may cost by category. 

    Here are my numbers:

    Where are the numbers?

    I am in Cincinnati. 

    Sorry had to edit the post...look above for my edited question.

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  • Kevin May
    Rental Property Investor · Lawrenceburg, IN · Member since 2016 · 31 posts · 6 votes
    7y

    @LeAuna S.  what area of Cincy?  How much updating? Utilities separated? That’s just a few questions I have to tell if that asking price is close. 

    Kevin

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  • LeAuna S.
    OP
    Atlanta, GA · Member since 2017 · 16 posts · 1 vote
    7y
    Originally posted by @Kevin May:

    @LeAuna S.  what area of Cincy?  How much updating? Utilities separated? That’s just a few questions I have to tell if that asking price is close. 

    Kevin

    @Kevin May In Avondale, not sure of the updates because it's occupied and the seller doesn't want anyone taking pictures because he claims doesn't have any time and not really motivated to sell unless I give him his asking price. From the looks of it seems like a regular B/C apartment, it probably needs only cosmetic repairs than anything. Not sure about the utilities. 

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  • Scott Lyons
    Cincinnati, OH · Member since 2018 · 62 posts · 19 votes
    7y

    Avondale, in general, is one of Cincinnati's worst neighborhoods. It does has some decent pocket areas where potential exists.

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