Turnkey Investing In Cincinnati Area

11 Replies

Hi everybody!

One of the strategies I was looking at doing for my first property was a turnkey property. Do you guys have any knowledge on if it's a good strategy for the Cincinnati area and if it is, who are some people who specialize in it? Thanks!

@Roderick Mills Jr.

It really depends on what you want to do and what resources you have at hand. Turnkey properties require little to no CAPX upon purchase which in return leads to a high purchase price but not necessarily less headache. Cincinnati is predominately a Class C market with most of the inventory being 30 years old or older. The opportunity in this market is value add BUT there are always exceptions if you look hard enough. Cash flow may not be as strong for turnkey depending on how much you pay for the property.. on the other side of the coin rents should produce a higher premium per month... 

Yes, again it depends on your goals and capacities as an investor, including how active or passive you want to be.  It also depends on who you work with as the provider team.  I know of a good one there in the area, but they have quite a waiting list for properties.

We're in Cincinnati, it's a great market! 

@Corey Mason thank you Corey for the detailed explanation! Some of the info you shared I wasn't aware of so I feel like I have a much better understanding of it now. 

Originally posted by @Roderick Mills Jr. :

Hi everybody!

One of the strategies I was looking at doing for my first property was a turnkey property. Do you guys have any knowledge on if it's a good strategy for the Cincinnati area and if it is, who are some people who specialize in it? Thanks!

Pretty cost effective market. Are you local to it? It's not so much Turnkey vs Total Rehab. Remember a house is a house is a house. In a market like Cinci it's really as simple as hiring a Realtor who works for a Property Management company & buying a decent house off of the MLS. Perhaps something that could use some cosmetic upgrades or even something that doesn't.

@James Wise I live in Cincinnati but because I play professional basketball in Europe I am out of the country for 8-9 months out of the year. But it could be as easy as doing what you mentioned to get going. 

Originally posted by @Roderick Mills Jr. :

@James Wise I live in Cincinnati but because I play professional basketball in Europe I am out of the country for 8-9 months out of the year. But it could be as easy as doing what you mentioned to get going. 

 Yea give it a go. What team do you play for in Europe? You guys looking to offer Melo a roster spot? 

Originally posted by @Roderick Mills Jr. :

@James Wise BC Titebi. And haha I don't think Melo is going to want to come all the way out here.

 Lol he didn't wanna come off the bench either....

If you need any help learning more about the Columbus, Ohio market we help investors find 6-9% cap turnkey commercial apartments in A-B neighborhoods.

Best of luck Roderick!

Marc Rice

Forty North Realty Group | www.FortyNorthRealty.com

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