I am now living in Cincinnati and looking to invest in Multifamily.
I am new to the real estate investment world outside of the home I currently own.
Interested to hear feedback, recommendations on
(1) how to get started
(2) what area would be the best
(3) any other recommendations regarding financing, joining in on other deals etc
Hello @Christa Kiggundu , I don't live in Cincinnati but I have started investing there. I currrently own a 10 unit in Norwood close to Xavier and I'm realy happy about the area. My oppinion, and how I started from CA, was:
First, I started looking online getting a feel of the properties that are listed the are congruent with the price range and size I was looking for. Don't wait too long and procrastinate though because then some people never pull the trigger and the properties you like usually don't last long.
Second, I found a realtor. I got lucky, they were really cool, understood what I was looking for, didn't push properties I had no interest in on me and I enjoyed working with them. They were how I got the feel of the city and the diferences in the areas. After a couple visits I had a good idea of the areas and which I wanted to invest in and on the second visit I had my first offer in.
Third, was the process of purchasing due diligence. The first property I got under contract fotunately fell through but that'll happen.
Fourth, I started looking at property managers and landed one that I thoroughly enjoy working with and who helps me alot now that I I live in Germany and will continue to invest.
That's as basic as I could really break it down but I think, since you live there, getting out and seeing the areas during the day and at night will help out a lot and also find a Realtor you enjoy working with who wont try and push properties down your throat.
Good luck and enjoy, it's a blast.
Hi @Christa Kiggundu . My wife Becky is a Cincy realtor with Keller Williams and has experience working with new investors. If you send me a colleague request I can send you her contact info. She was born and raised here and knows the area well. FYI we own a rental SFR in Finneytown and have also owned in Norwood, as well as others in Dallas. We've been through the process many times ourselves. Good luck in your search!
hey @Alex Bacon I'm looking to buy my first investment property and my search narrowed down to several places Cincinnati being one of them. I would like to get in touch with a good realtor and property manger. Would it be ok to PM you?
I can recommend several that I’ve worked with, pm me if still needed
@Joe Davidson will do. thanks!
i am currently in the same kind of situation.
i have been renting an apartment in west chester for about year and half now with lease ending in June and i have been very interested in a house hacking. linking in one and renting the other .
there are a few properties on realtor and zillow just not sure
i: if schooling is very important or not?
ii: age of home is important or not?
@Alex Bacon - thanks for the thorough response. Curious how you landed on Cincinnati as a prospective area being that you were on the west coast. I am always wondering what tips people off to invest outside their backyard.
@Lawrence Hinahon sorry about the delay it's been a long week. Feel free to message me anytime, I'd be happy to hook you up with my PM.
@Dale Tucker would it be ok to PM you? Im also looking to invest in the Cinci area.
@Christa Kiggundu I am new to the area and open to networking and helping with any deals or questions you have.