All Forum Posts by: Scott Lyons

@Michael Ealy No worries, just wanted to make sure I wasn't missing something.

@Michael Ealy Deer Park has areas that are in Mason School District? That seems odd.

Jake, I called Brandon out for a very similar post a few weeks ago. Not sure why he keeps posting this inaccurate information but it is very misleading to people who are looking for honest answers.

My above post didn't post for some reason. Facts can be very misleading. It's not a Cleveland vs Columbus vs Cincinnati issue. All are great cities. It's manipulating "facts" to mislead others that may not know. The Cincinnati market is simply bigger than the Columbus market.

Avondale, in general, is one of Cincinnati's worst neighborhoods. It does has some decent pocket areas where potential exists.

Not to start a debate, but saying Columbus is 3x more populous than Cincinnati is misleading. Sure, within specific city limits it may be but that's just because of how the lines are drawn in the city. Columbus is a great city but as of earlier this year, Cincinnati had a bigger metro area. Northern KY doesn't get included in the City total, nor does Norwood and other areas within a handful of miles from the city center.

https://www.dispatch.com/news/20180322/columbus-metro-area-now-bigger-than-that-of-cleveland-and-gaining-on-cincinnati/1

It was about an 8% cash on cash return. So nothing special but a pretty easy property to manage. I'm think I'm more worries about it occupying cash for if/when a better deal presents itself.

That's a good question. All the cash initially will be my own. It's pretty much a turnkey property so I don't think there would be much in the way of forced appreciation. But I'm not experienced with the process of appraisals and refinancing. I know multifamilies get appraised based on NOI. Would a SFR investment property be appraised just like a traditional SFR? If so, I don't think I'd be able to pull my cash back out very quickly.

Looking for some advice on a SFR that I'm looking at. Still looking to buy my first investment property. I've been mostly looking at 2-4 units but a SFR popped up in a great area only 5 minutes from my house. Awesome location, great school district, house was great, perfect condition (that I could tell), updated, etc.

I'm estimating I can get the house for ~123k and rent it out for 1,300. May be able to get a little more but I think that is a petty reasonable estimate. So it barely gets by the 1% rule. Based on 8% vacancy, 5% repairs, and 5% capex, it'll generate $175/month in cash flow. That's after everything. Normally I'd probably move on but considering what "I think" will be relatively low maintenance property and the fantastic location I'm wondering if it justifies the lower return for a first purchase. At the same time it will eat up a lot of cash that I could use for higher return investments (and I think the market will start going down within the next year). Curious to hear the different view points on this.

@Jeremiah Cotner - feel free to reach out if/when you are in town and I'd be happy to meet up.

@Emanuel Vega Yes, I'm investing only in Cincinnati at the moment and don't really have any plans to invest outside the tri-state.