All Forum Posts by: Andy Crawford

@Stephen Brown

I’m currently operating in this space both individually and with a partner. Mostly focused on Cincinnati, OH & Dayton, OH presently.

As others have mentioned, the space is crowed and economics of many properties have been affected by compressed cap rates. However, there are still deals to be found. We've been successful with solely off-market value-add acquisitions. Once it hits the MLS or offering through a broker those looking to park excess capital to hedge inflation, 1031, etc. drive competition.

Network, Network, and then Network some more!

Also, from a property management perspective these smaller Multis (under 70) typically don’t afford on-site mgmt. So location and efficiency definitely come into play as you try to execute.

If you know your target market and you are looking to hire a property management company, I’d suggest vetting them throughly early on as they will ultimately lead to the successful performance of the asset. A great deal poorly managed negates all your hard work after acquisition.

I’m always open to connecting with others interested in this space, don’t hesitate to reach out.

@Ashley Pinnell Seems like you received the answer for self management in OH. I’d just like to add, get your systems fine tuned before you scale. Personally, my wife and I self-manage some of our portfolio and found that a good tenant screening process and PM software can really add to your success when doing this. Best to you as you grow your portfolio!

@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.

@Jared Brinn a good number of properties in the Cincinnati area do fall into that “older category”, but not all. Stone foundations, cast iron sewer main stacks, & outdated electrical systems (knob & tube) are a few things to watch for. These items could be costly with ongoing maintenance and repairs if not considered in your budget. When you find a property that hits your criteria and you physically walk the property, go straight to the basement…it can tell you a lot. A good inspector will know these things if you aren’t experienced.

@Andrew Cheek Congratulations on pushing forward and planning your next buy. You’re taking action which IMO is a big part of progress.

I’m actively investing in Cincinnati & Dayton. I’d be happy to connect and see if I can add value. Don’t hesitate to reach out.

@Anthony Beasley PM me and I can provide my contacts for you.

@Jeremiah Bruch Welcome to the forums, a great resource as you start your RE investing journey. I'd also suggest checking out our local Cincinnati REIA. Weekly Virtual meetings and a great place to network. Feel free to reach out anytime, I'm an active investor in Cincinnati & Dayton.

@Paul Sorensen it’s Dayton Real Estate Investing Network.

@Dan Hood Welcome to the Forum, a valuable resource for you as you start your new RE journey! I’m actively investing in the Dayton area. There is also a Dayton RE Group on Facebook that I’d suggest joining. Feel free to reach out anytime.

@John Casmon Congratulations on your success! I’d say you have a pretty concise summary of setting yourself up for successful stabilization of a new property. Although I’m not a veteran RE Investor, in my experience over the last couple years communicating with my tenants has been key. I’d include handling maintenance requests in a timely manner shows your serious about keeping your property in good shape and increases your chances of retaining tenants.