All Forum Posts by: Heshel Mangel

It is not members only. You must RSVP in advance just to weed out those that are serious, it costs about 3$ to RSVP (which covers admin and pizza). 

@Josh Cullen welcome to BP and welcome to Cincinnati! I'd recommend also checking out the monthly BP meetup in Cincinnati hosted by @Joe Fairless. It is the last Tuesday of every month, so next one will be 5/28. I plan on being there for my first time as well. 

I myself am looking for similar type deals. 20+ units in Cincinnati, but I'd like to get closer to an 8 cap. Really though, it all depends on the deal, and the opportunity to add value without having to reposition and do a complete rehab or something similar. 

@Stylianos Kalamaras Firstly, I assume you are in the army or a veteran and that is why you propose using the VA loan.

My advice would be, if you have a goal and a vision, and the agent isn't playing into your vision, switch agents. The agent is there to help and service your needs and goals. The strategy you seem to be heading in is a sound one. Just make sure the property will cashflow positive. You can use the low downpayments (VA, FHA) for owner occupied properties up to 4 units.

Much success in your journey!

I am currently under contract to purchase small multi-family (5-unit) in Cincinnati. I received the financials for the past 3 years, it is a mess to say the least. I am looking for some help and/or mentoring to decipher if the numbers are a result of a poor property or poor management. Some numbers look way off based on previous experience. Anyone care to take a look with me? Property is located in West Price Hill of Cincinnati. 

Thank you!

Thanks. Where do you get your doors from? The big box stores seem to sell at 7' the minimum. 

Dumb question for all those rehabbers, contractors, and flippers out on here. I need to replace the garage door on a house I am rehabbing, and it is 6'6 tall. Seems that the standard height on doors these days is 7'. Will a 7' door fit? Any other suggestions so I don't need to go out and pay for a custom door? 

Thanks! 

@Naveen Desai What have you done in the other properties you rehabbed? Did you leave them empty of kitchen appliances? 

I am currently looking for appliances as well, if you here of anything. 

@Nic Cooper How was your trip to Cincinnati? Did you spend the time meeting team members or just learning the neighborhoods and properties? 

As an OOS investor, the PM is the most important piece if the puzzle. Make sure you vet them well and listen to recommendations. Don't just go for the cheapest company. 

You don't need a local lender, but local lenders tend to be more willing to work with you on an individual basis, especially if you don't confirm to the typical Fannie Mae guidelines. 

I have been looking for MFs in Cincinnati for some time. If you hear of any in B areas please do let me know. I am finding that MF in B areas are rare.