All Forum Posts by: Tanner Gish

Hey BP Friends,

  Question: I just closed on a  3-unit property in western Cincinnati (Westwood area- a better part of it).

  Who would you recommend as a property manager for that end of town? Ideally, someone experienced with that kind of tenant base (likely, someone who is a pro at section 8), who isn't located too far from there, and ideally, someone who is a NARPM member.

  Look forward to any recommendations! 

-Tanner

Hey Everyone,

Happy Wednesday!

Does anyone have a company they would recommnd for getting a professional, sharp, and effectiveseller facing RE investors website up and running asap?

Quick question- months ago, my artsy friends told me the way I "had to" select WordPress to make a fancy buyer's age for receiving inquiries from prospective sellers from my mailers. However, it's been 6 months... and I'm done dealing with the learning curve of coding a modern site, and need it up and running now!

I would love for it to look like many of squarespace templates. However, it needs to be a wordpress theme/ template, as I paid for 3 years of wordpress already.

Any leads from you guys?

Thanks!

-Tanner

Hey John,

Thanks for your critical thinking. You're absolutely right- there is a lot that goes into understanding a cycle, both in RE, and our economy (although we are 7 years from 2008, to follow that simple 7-9 year cycle we've seen the last 3 decades). Being in banking, I can just tell you that my colleagues and I have been putting our hands on our foreheads saying "here we go again," as money becomes easier and easier to come buy. Yes, it's not stated income/ high LTV loans from the mid-2000's, but our nation will always follow the political headache of having increased legislation and lender contraction and conservativism when things go south, and then lighten up or add steriods to make it easier when everyone decides they don't like getting TD for loans. But, even here, I'm offer more water cooler comments than anything.

Hey Robert,

 Congratulations! Well done on the duplex- those low-down , low rate loans are a great way to get in, esp where the values in the IE actually allow you to get some degree of positive cash flow. What city is it in?

 I could list all the "less than 20% down options" here [subject to, a wrap, lease-to-own, syndication, buying at the right price with OPM (other people's money), where you then cash out after your rehab at  break even out of pocket if you ran your numbers right], but I'll defer to the venerable Brandon Turner for the expansive "Low or No Money Down Guide" (http://get.biggerpockets.com/nomoneydown/).

 Does this help?

PS- I've heard the BBVA Compass Bank has a 0% down owner occupied program now. Could be worth checking out... also a good indicator that we have reached the top of this RE cycle- so beware less you end up carrying an upside  down mortgage come 2017!

Hey Friends,

 I hope everyone is having a great wrap up to the quarter.

I'm currently under contract on a unique tri-plex in the Westwood area, and am looking for someone to check my ARV analysis with some comps. Unique in that it's a duplex and an SFR on a lot (most multi-units in the area are brick rectangle 4-plexes, one buildling), which affords more privacy.

The address is 3024 Montana, Ave, 45011. Looking at sold comps I've pulled from Redfin and PropStream, I have a number I think I can stand by. But, I'd love to hear what others think a conservative ARV would be (one unit does need repairs to be up and running).

  Let me know how I could return the favor!

-Tanner

Hello Friends,

I'm hoping I could receive some recommendations: I just went under contract on a 3-unit property on the West Side of Cincy, an was wondering if you could recommend anyone for the following services?

1- Termite Inspector

2- Property Manager (who ideally is located/ specializes in the Westwood area)

3- RE attorney- for forming an LLC and operating agreement.

I appreciate any connections anyone could provide. Thanks in advance, and let me know how I could return the favor!

-Tanner

Hey Bryan,

 Similar to Joey, haven't had him do work yet, but responsive, and claims to have done rehab work for investors/ preparing for resale in the past.

Kevin Roach / [email protected]/ 513-410-4432

 What is your level of experience with investing, either in Cincinnati or other places?

-T

Thank you so much for your shares and your wisdom. I know that any MLS listing won't advertise these- thanks for letting me know, so that I can ask to better qualify the properties.

I would appreciate your help in clarifying a few things:

-" I have found that obtaining insurance on these things is very challenging"- "these" equals Cincinnati multi family, or houses with the breaker or wiring scenario's you mentioned?

-Have you an idea about the cause for concern around the subsidized tenant base ( know they're likely lower-class, but, the increased income, w/government backing, seems to decrease risk in some ways, and the higher income/unity provides the extra money for handling vacancy/ repair with a more transient population, no?

Also, I'm encouraged that you are very familar with the So Cal market in comparison to the mid-west. What challenges would you see in going multi-family C-D class in Cincinnati, that would be different from C-D class in parts of southern or East LA (Boyle Heights, Inglewood, Silver Lake (which is actually very up and up now), Norwalk/ Paramount, etc?

Thank you SO much for your wisdom, DL. Look forward to more of what you have to say on the subjects.

-Tanner

Hello Everyone,

Call me crazy, as every podcaster in the multi-family space always seems to bemoan working with sub B-Class tenants, but here goes:

  -I'm looking at several multi-family properties in the Montclair/ Ontario area (inland empire), that would be great investments, if it could be transitioned to Section 8 subsidized housing tenants. 

Are there any property mangers out there, or those who would recommend one, who have significant experience in managing properties with these tenants (or, who specialize in this space)? I believe experience in picking out the best (possible) responsible tenants from this crowd would be tremendously valuable.

I look forward to hearing from anyone!

Los Angeles, San Gabriel Valley, Montclair, Claremont, Ontario, Pomona, Inland Empire, Whittier, San Bernardino, Chino, San Dimas

Some here. Did any one surface?