All Forum Posts by: Jake Walroth

@Ryan H Stenberg I just set up LLC's for all of my properties and I'm working with Graydon Law, based in downtown Cincinnati. If you'd like the cell phone # for my RE Attorney, PM me.

Jake 

I agree with @Mikhail Katz.... sellers don’t know if you’re buying it with hard money at high interest or if your mom is giving you the money for free, and it’s not their responsibility to. And anytime the marketplace or realtor.com do have the monthly numbers, I usually don’t believe them anyway/ because everyone selling is naturally going to inflate the #’s a little. 

I don’t think posting properties for sale on the mktplce is “taking advantage” of anyone. Sounds like you’ve got it in your head that something is going to go wrong or someone is trying to swindle you.... if you want to get started you need to believe in your numbers and local knowledge and just take the plunge. 

I have 10 units that are college rentals.... my experience is there are many ****** college rentals.... particularly on big campuses where landlords know a bunch of undergrads are fine paying $350/bedroom for trash. I’ve been able to keep most tenants for at least 2 years by having stainless/updated costmetics/ and being located near the major schools(medical, business, etc)... they are also walking distance to entertainment.::: but being near their specifics “schools” has been very important in the decision for my tenants. Providiny superior finishes/cosmetics has allowede to get substantially more in rent..... again, as @Will Gaston said... usually their parents or scholarships are footing the bill.... so there is more room to raise rents based on how nice a place is vs a regular residential neighborhood. 

@Kevin May is in line with my thinking.... thats the rough part.... stay west of Werk/Harrison intersection, and towards Mercy High School and Cheviot. Avoid parts of WW near Fairmount/Queen City. 

Westwood is the biggest neighborhoodn in cincinnati.... 3x or so larger than next biggest hood.... so yea, there are areas in the eastern part of Westwood I’d avoid. But the corner of Harrison avenue and Montana has a lot of developing streets and the beginning stages of gentrification with the Westside Brewery and things like Nation opening up their 2nd location in the old firehouse. 

But without knowing specifically where in Westwood, it’s hard to say. 

@Kris Wong is probably right..... If there is a triplex on MLS for 127k bringing in $2300 in city of cincinnati and it doesn't look like Fallujah.... it's probably too good to be true-its in a warzone, the mechanicals are shot, etc.

And if its real... there's no way it's still on the market. 

But if you got a diamond in the rough... best to jump on it. 

@Karl Hinkel I agree wholeheartedly.... because your statement(s) are truth/fact. I understand the demographic trends favor Columbus... but yea..... the idea Columbus is 3X larger than Cincy or Cleveland is asinine..... and misleading to those "out of state" people looking to get educated on the areas mentioned. 

@Brandon Sturgill I'm obviously biased because I'm from/live in Cincinnati. But to my point, growing up here, I lived exactly 15 minutes from downtown..... and I didn't technically live in Cincinnati nor do the majority of people who say, "I live in Cincinnati,".....Because the official border of the city is quite small in it's geography.... And when the the MSA of Cincinnati has100,000 more people than that of the Columbus MSA... it seems a little disingenuous to purport Columbus is 3x the size of Cincinnati. 

@Brandon Sturgill Columbus is twice the size of Cincinnati? Simply looking at the city's borders, sure.... but the Cincinnati MSA is larger than Columbus.... also something to note, most of Cincinnati's growing neighborhoods are to the north(mason/liberty areas), which is just south of Dayton.... There is consideration to make Cincinnati/Dayton one MSA... which would be the 13th or so largest MSA in the USA. Not that size is the most important factor.... but intimating Columbus is twice the size of Cincinnati seems crazy to someone who lives in one, and has spent significant time in the other. 

Definitely go for higher end. Easy to stand out from the many ****** college houses that are on any campus. Simple things like stainless(ding and dent), new floors, bathrooms, etc..... and you can really see the payoff in the additional rent you will receive.