All Forum Posts by: Eric Gross

Was there anything in the lease about painting? If not clearly defined or stated they will probably be able to get away with it. If it was stated in the lease then I think you’re favored and could charge to get it painted or use their deposit to pay for it. Hopefully that helps

Hi Franklin! I’m also a fairly new investor in the Cincinnati area with the focus of buy and hold rentals in the suburbs. I highly recommend the podcast for education and getting a feel for what will fit your strategy best. I also recommend you get in contact with some realtors who can help you. @Joseph Cornwell is my realtor and an investor around Cincinnati. He has been beyond helpful and will help you with everything. Again welcome! 

Just depends on all of the variables. I personally think location varies based on goals. So people who seek cash flow might want to go into C neighborhoods whereas people looking to build a fortune through appreciation might want to go A or B neighborhoods as long as it still cash flows or has margins. Also what are you willing to put up with? I think you can make an assumption lower class = more drama. Hopefully this was helpful!

If you are able to get all of the money you put into it back, and even cash flowed a small amount your ROI would be amazing because you would have no money in the deal. In your numbers your capex was at 18% even though you would be rehabbing the house which is a little unusual. If you replace the big ticket items with the rehab you can assume there life expectancy will be longer. Other then that it comes down to your goals, I personally would love to make money every month in which I have $0 invested. Hope this helps. Good luck!

Does anyone know if you can contact a bank that has a property on auction.com to submit an offer and forego the pains of using auction.com? I appreciate any advice!

Cincinnati can definitely be a tough market if you don’t have a good grasp on the locations. I tend to stay in the tertiary markets because I don’t have a good understanding of the city. Joseph Cornwell is a great agent who can help you and he invests in some of the outlying parts of Cincinnati. I would also recommend at least making a few visits to the city and driving around to get an idea of where you are comfortable investing. Good luck!

Thank you @Lauren Lockett! 

Thank you for the response! I will definitely look into attending an auction on the court steps. Thank you for the advice!

Thank you for taking time to read my post and I value all advice given! I have been looking at houses on the mls for the last 6 months but with the market heating up in my area it is getting harder to ind deals. Recently I got on auction.com and found some very interesting properties that peaked my interest. I would love to bid on some of these properties but I first want to make sure I have done the necessary due diligence but I don’t know where to really start. How do I look up liens in the property? Is there anything else to be weary of? Is there certain tips or hints to help buying on auction.com? Again any advice is welcomed and appreciated!

Just recently read in a book that Las Vegas and other cities including Phoenix are some of the most up and down markets. The swings can be quick and steep. As long as you prepare for this I think you could definitely make it work. Just research rents and what the swings in the local market will do to the rents! Good luck!