All Forum Posts by: Jordan Fiore

Location will determine quite a bit here. A lot of question marks moving forward with CMHA at the moment, sticking to finding market rent comps is the safer bet. Price of these in the B or better location is going to make it tough to be in the green immediately. You should look to potentially making a unit or 2 MTR/STR to make the numbers work. Reach out if you want to connect and need some help!

Welcome Brad! The greatest teacher will always be experience. The goal is to mitigate the risk as much as possible with finding a good location and solid property. Cash flow might take a bit of a back seat but building a team you can trust and building experience are top priorities in my eyes. Best of luck!

 This. Also, I am assuming since you house hacked that you only did 5% down, which then increases your mortgage payments compared to 25% down buyers. Would need to know about locations of your buildings and current rents to see if there is anything that can be done now to get numbers a bit better.

I don't service in NKY but I have heard good things. There are a ton of brick quads just north over the river in Cincinnati to choose from. Always be weary of the 3-4 unit buildings that were built as a single family and then concocted into multifamily. Their layouts can be not appealing at times. It's worth paying a premium for the brick buildings that were built for multifamily. Best of luck with everything it seems you have the experience and workmanship needed to be successful! 

Hey Scott,

Let me know if I can be a resource for you here in Cincinnati! There is a lot to learn about with these buildings and areas. 

Jordan

A lot to take in with the Cincinnati market. Just like any market, it has its quirks on what to look out for and what to expect. If you are still in the market here, more than happy to hop on a phone call to see how I can assist. 

Yea, DSCR would be the way to go if the numbers look pretty good on this. Get a hold of a trusted lender and run through the options with them as well.

Welcome to BP! I work with mainly buy and hold investors here in Cincinnati. Would love to see if I can be a great asset for you on your journey. Just sent you a connection.

It seems this investment was incredibly successful for you, but the resale is most important. Comps can show one thing but actually closing can be another. I am assuming you have not closed on this yet. First priority would be to market and sell this for top dollar. Get in contact with a 1031 exchange company during the transaction and roll it into another property perhaps.

Yea, the area is not the best and the passed 2-3 months is always pretty tough to rent. That is a mixture of units sitting. Hopefully the current occupied units are paying every month. Beat the comps with price and these should be rented as it gets warmer, until march its pretty tough but almost there!