All Forum Posts by: Peyton Zachrich

@Kevin Whisler Most 4plexes I have looked at have a capex number closer to 15%-20% than 7.5% of gross rents. In my opinion, you should calculate it out specifically based on what you estimate specific big-ticket things to cost and their expected life. I would recommend reading this article by @Ben Leybovich on calculating CapEx. https://www.biggerpockets.com/blog/2015/10/13/real-estate-capex-estimate-capital-expenditures/

Also consider common charges to landlord (lawncare, utilities).

 Welcome Berish! Lots of opportunity in Cincinnati. Would love a copy of this spreadsheet too if you get a chance!

Hey everyone, I'm a buy-and-hold investor in Cincinnati, Ohio. I own a 9000 sq ft (0.2 acre) residentially-zoned lot in a C+ neighborhood in Cincinnati, Ohio. It used to have a house on it (now torn down, cleared away, and completely vacant), and is on a street with decent homes (80k house prices, 1100 rents). 

Is it possible to put a manufactured home on the property (which already has utilities hooked up to it)? How can I find out if zoning will allow it? How much would I feasibly need invest to get a 3br/1ba 1000 sq ft home? Would this take in the ballpark of 2 months or 6 months? If I can accomplish it for $30k-40k it would be a good investment for me, but I know nothing of what's feasible or not. 

I have no experience with prefab homes, new construction, or zoning laws, so any resources one could point me to regarding this would be greatly appreciated!

@Priya Thomas Great to hear! Property taxes are only about $50 per year so not too burdensome, but I don't plan on building on it or putting it to good use. Thank you for the advice!

Would recommend EquityTeam as a PM. Best reputation of any PM I've ever seen, and fair pricing. 

Neighborhoods in Cincinnati are extremely mixed, vary a lot from street to street, and you should rely heavily on someone with intricate knowledge of the locales when choosing what to purchase. I'm bullish on the city, and so are many that I know. 

@Russell Brazil that's what I had feared, do you know if there is any way around that? A part of my priority is to get rid of the property tax liability

@Priya Thomas Do you know what these costs and steps would be? Just title transfer at some municipal building? And the neighbor I'm selling to had their house for sale, so I called their agent and told them if she sold it I would pay her the commission.

In a recent acquisition of a portfolio of houses, I got a 0.2 acre lot of land in Cincinnati (Westwood neighborhood). I'm trying to sell it to one of the neighbors, not to build just to expand their yard, for its appraisal value ($3000), but I know nothing about the closing costs and fees involved in this. 

If I'm paying the first 6% for commission, will I walk away with most of what remains? or will closing costs including transfer and title fees, etc eat up a lot of it?