All Forum Posts by: Rudy Manna

@John Cohen - which location in Cincy you are investing?

tHanks all. I am looking to buy around university of Cincinnati, in Probasco, Stratford, Marshall street to name a few. Relatively safe and at the same time houses are not quite expensive. I will have to deal with student renters though..

However Cincy does look like strong cash flow. Quite a Few duplexes listed in the 150k range and SFR in 70k range. Vacancies should be low around university too.

Hi,

I am from Seattle and own couple of rentals here. As you might know the property market is booming and hence and cash flow on rental properties is terrible (4%-5% gross cap rates). 

I am looking into elsewhere in the country for returns and diversification. I went to university of Cincinnati, so I am somewhat familiar with the neighborhood. Checked some properties in MLS and 4 br/ 2 unit multifamily units going in the range of 100-150k. The current rental rates for a unit are $800-900. Overall looks its reasonably easy to get 15%-20% cap rate and a strong cash flow.

I know that I need to avoid a few areas with high crime rate such as vine, Over the Rhine,  etc, but are there other trade-offs for real estate investing in Cincinnati. Look forward to hear from experienced investors in the area.

I have couple regular rentals in Seattle area. I am getting 6%-8% cash flow cap rate. I am thinking about converting those to vacation rentals in AirBnb and elsewhere. Eventually, I will add a few more to portfolio, and I can scale dedicated maid service, airport pick-up and drop off. I did the financial analysis and after accounting for vacancy, maintenance, utility costs I can easily make ~15% Cap rates . 

Are there any pitfalls/risks to the vacation rental business should be aware off? Practical experiences will be highly helpful.

I am looking for 10%-12% cap rates. Felt that Tacoma would be best bet for SFR in low 100s range. Any other areas around Seattle- Redmond I should also consider?

@Troy Fisher

I own a rental property in Seattle. The house is in Ballard location which is desirable one. The house in a 5000 sqft lot.

Quite a few builders in my block bought houses and then build two houses after tearning down the old one. I did the math and it would be profitable to it. But to start with I need to figure out the city permits and steps involved. 

Can the experts please point me to:

1. The rules involved in building two houses.

2. Additional permits required.

3. The timeframe required to get the permits and all so building can be started.

4. Pitfalls  should be aware of.

Thanks in advance.

The market in Seattle- Bellevue - redmond is super hot and it's almost impossible to find a deal.  Though it looks like the likelihood of deals in Tacoma is much more. I am going to give it a shot.

Hi, I am looking to buy rental property in Seattle Tacoma area withBRRR strategy. I got my first one in place, looking to buy another in near future.

I hear that buying off market properties from wholesalers might be a good way to get good deals. What will be a good way to get in touch with wholesalers in the area? 

I need advise from the experts. Thx in advance.

Thanks..looks like working with wholesalers might be a good approach. Is there a way I can reach out to wholesalers, is there a platform, or is it primarily off-line socialization?

@Ryland Taniguchi

Any suggestion on how to find off market deals in Tacoma

@Ryland Taniguchi  

@Albert Bui