All Forum Posts by: Kris Wong

I suspect there are many. Off the top of my head - new FC Cincinnati stadium, massive mixed use at former US Playing Cards site, massive new mixed use project along the river in Newport. If you really care about this, I recommend you subscribe to the Cincinnati Business Courier.

Hamilton county has started to hear eviction cases again. You should get a date well ahead of August, I would think.

As the others have already said, you're looking in the most in-demand areas of the city. Might as well throw in OTR too. ;)

Highly in-demand submarkets tend to offer returns in the form of appreciation rather than cash flow. However, you will certainly have a more stable tenant base, who has less trouble paying their rent during an economic downturn. It's a "less risky" investment, from a tenant perspective, and therefore offers lower returns (lower cap rates).

I can't comment on the cold calling, but it certainly can't hurt. The more effort you're willing to put in that others aren't, the more likely you are to find a deal that others won't.

LOL @Michael Le!

This broker sounds like he has no idea what he's talking about. Maybe there is a hint of truth to that in some very focused area, but blanket statements like that are simply naive to the possibilities for those that are willing to hustle. All I'll say is RE is very location/market specific, and I'm still focusing on multifamily (as are hundreds of other investors).

I am not an attorney, but I understand the balance of career vs. side hustle very well. It sounds like you're in a place where contributing capital is much easier than committing time. Based on this you have a few options, but they all revolve around you partnering with folks who have the time and expertise, and are looking for capital. The first option is to buy "turn key"/rent ready residential properties (1 - 4 units), and find a full service PM company you can trust. You will of course pay full market price for these properties, but that is to be expected (that's the trade off you're making). You can buy these properties from a turn key provider, or find a realtor who understands how to model investment property returns. Secondly, you could find a local partner in the markets you're interested in who is looking for capital. They may be flipping, or some form of the BRRRR strategy. And lastly, the strategy I prefer, is to find an experienced deal sponsor who is putting together apartment syndication deals, and invest passively. You will find that these will often be the most professionally run businesses of the options I mentioned, and that's primarily due to scale. Of course that's not true across the board, but it's what I have found to be true amongst successful deal sponsors.

Apartments, apartments, apartments. People will always need a place to live. Even in trying times like these, an apartment deal purchased well is a stable asset. If you don't want to make the investment in yourself to be able to do an apartment deal successfully, then there are many experienced deal sponsors out there that have already made the investment in themselves. Invest passively with one (or 5) of them and wait for that mailbox money. You can invest in cash flow markets or appreciation markets, depending on your goals. You have enough equity to diversify into different markets. You could also sign up with a highly-regarded coach or mentor to expedite your own growth. You can really take it any way you want!

I know the Grove's, and everyone in their program uses http://ceshkergroup.com/. I don't do these kinds of deals myself, but that's a pretty strong reference.

Up and coming around downtown I would be looking at Mt. Auburn, Walnut/East Walnut Hills, Newport and Covington. Newport is exploding with projects in progress/in the pipeline.

I can tell you my PM uses David Donnett for evictions. However, as Eric pointed out, the courts are not hearing eviction cases at this time.

If you are able to bill back utilities to tenants based on their actual usage, then it stand to reason that the tenants will consume less gas, water, etc... than if the LL is footing the bill. This can be a win-win by increasing NOI, and also allowing tenants to conserve and lower their utility bills below "normal". Obviously this doesn't apply to boiler heat, or other centrally controlled utilities. That's the value prop. However, submetering is generally quite expensive (at least that's my understanding). The NOI increase has to be significant to justify the investment. If you really want to evaluate the efficacy of such an investment, then you need to get a realistic estimate of the costs, and talk to landlords in your area that have installed such a system, to really understand affect on NOI. Only then can you determine if the returns outweigh the costs.