All Forum Posts by: Jake Walroth

Covington is super duper hot..... anything between Main and Madison..... and north of MLK. The prices of Covington may seem low.... but Covington is a large area, and the prices in the southern portion drag that down... but stuff in the area I referenced are not what I would call "low". You're talking 200k+ for any decently done row home... be it SFH or small multi.

The same goes for Newport.... the East Row has homes that mostly go for 275+/// all the way up into the 600k-750k range. 

Bellevue is where I'd concentrate... as it's still somewhat of a secret, and prices in the best areas are still low compared to the hot areas in Newport and Covington. 

I'm a big believer in those 3 nky neighborhoods.... the northern most parts of those hoods are already well developed... but still offer opportunity to cashflow... for example, there is 4 family on 4th st in newport.... beautiful brick home, in the East Row district..... priced around 300k.... could probably be had for 275k and will cashflow well.... and its a top street in the area. 

Hey Chris, 

Welcome. Northside/Camp Washington are both good areas to start.... many manufacturing jobs to cater to... plus Northside is one of the cooler/more underrated neighborhoods in our city. 

Cheers,

Jake

I'd like to admit, "I too, am a millennial." I'm 28. Most of my friends that are homeowners are married.... most of my single friends are renters. That is an oversimplification, but the only reason I am a homeowner is because I invest..... I only buy houses to live in so I can rent them out after I move on...... I too would rent if I didn't know the benefits of investing in rental properties.

 As has been mentioned, most of my friends that are millennial's prefer to have the flexibility of being a renter.... want to take a job in another city, great, a lease is preferable to a mortgage. Want to leave your corporate job for a passion project where you'll initially make less $, being a renter is a better situation, etc...... I think it's awesome that many millennials are upending the status quo of working 9-5 at solid company for the entire lives, instead, choosing to pursue a passion and starting a business of their own.... renting simply makes that more possible. 

In my friend group, nearly all who rent could afford to buy.... renting simply fits their lifestyle better at this point in time....I think that's an important distinction.... it's not that millennials can't purchase a home.... it's that they choose not to. 

Hey Alex, 

As someone who invests in student rentals... I'm very curious to learn if you've been able to pull XU students? That's a tad north of the area most of my X friends lived during their time.... but the area is developing, so I'd love to hear how its going. 

All the best, 

Jake 

A major reason I love Cincinnati's future is that there is so much room for growth in terms rent$/mo. There are many neighborhoods that far surpass this number of $836/mo already.... but as more of the urban core neighborhoods continue to undergo development/gentrification/residential growth..... I can easily see this number being closer to $1000/mo in the next 5-10 years. 

My tenant base is from 18-35, so I'm sure this will differ from many, but my payments are all online- zelle, venmo, and Cozy. 

Doug, 

I could help you achieve those numbers in Cincinnati...... in solid neighborhoods. If Cincinnati is a market you've thought about... don't hesitate to reach out. 

Jake 

A Cincinnatian’s perspective: 

Columbus and Cleveland are in Ohio..... Cincinnati is kind of it’s own thing/culture. The people and place is much closer to a Louisville or Nashville than Columbus or Cleveland. Cincinnati isn’t boringly flat.... we have hills..... and for not too much distance, our winters are typically much more hospitable than Cleveland’s. AND, we’ve now got 3 Major League sports teams with FC Cincy.... although some here refuse to acknowledge the Bengals as Major League. 

Cincinnati has many key "anchors" from a REI perspective- P&G, Kroger, GE Av, Western and Southern, The University of Cincinnati, UC Medical, etc. Economically, we are fairly diverse, not relying on any one thing too much, we've got manufacturing, some tech- Amazon World Transportation Hub, service and hospitality. The new soccer stadium is being built on the fringes of OTR and the West End- this area is blowing up and will continue so for the next 5 years as he stadium and team arrives in 2021.

Our city’s urban core was built for walking and many neighborhoods are being revitalized.... not just OTR which gets most of the pub. I’d say just in the city (counting Northern Kentucky), there are at least 8-10 B-A neighborhoods choc-full of breweries, coffee shops, etc- 15 years ago there were probably only 2-4. 

So if you’re trying to buy in the “path of progress”, there are quite a few options for you here in cincy as an investor.... 

as an investor here in cincinnati, I’d like as little competition as possible, so please park your money in Cleveland and or Columbus lol. 

Cheers, 

Jake 

Northside is a great neighborhood for flipping, because it’s been in such dramatic transition, you have those spreads to work with. My uncle flipped a hoarder house on Chambers, bought for 28k, put 125k into it and sold it for 285k with like 0 days on market. There are still many opportunities in Northside IMO. Also, Northside is the most centrally located neighborhood in the city with a young and artsy vibe and it’s just down the hill from UC, I don’t see Northside going anywhere but up.... two breweries on the way as well as a distillery- that’s how you spell gentrification. 

100-150k will not get you a turnkey duplex in Hyde Park, Oakley, or PR. The rest of those neighborhoods are more realistic..... even in Norwood that's tough to find.... so I'd suggest Westwood, Cheviot, Evanston for that price range for a turn key product. 

JAke