First Investment Property of the Portfolio
We are so excited to see the Moderwells purchase their first investment property in the Cincinnati area (Newport, KY) and start cash flowing immediately! Because we work with investors often, we were able to find a great rental property for this young family to get started on their investment portfolio.
This property at 942 York is going to be a great rental property for this family. The previous owner had done a full renovation on the property, and it was already providing excellent cash flow. When you couple that with the recent growth and larger commercial investment that is happening on the west side of Newport, KY, you also have the opportunity for appreciation.
Working with an Investor Friendly Realtor
With this investor, Luke, he originally came to us asking about a potential flip in the Norwood area. His price point was a little lower, but he was also looking at taking on a pretty big rehab project. While this can help you make money, I know from first hand experience that when you are married and have a few little children running around, this can put a lot of stress on the property.
While we were still looking for properties in Cincinnati or NKY, this one came up with another investor that I work with often. It’s a solid property with great cash flow. It’s a large, beautiful brick 2 family in Newport, and the seller had done some great upgrades in the kitchen, baths and throughout. The seller was looking to sell it off-market and came to me. Fortunately, I had a few buyers who were interested and the Moderwells were the ones to pull the trigger.
When you work with an investor friendly realtor who is also good at listening to your needs and has some experience with investing, it can save you not only money, but stress and time. I feel this property is going to be great for Luke going forward. Yes, it’s old and may need some updates here and there. But right now, it is set up to cash flow for years to come. For someone just getting into their first investment property and who has a young family, I don’t think you could ask for a better property to start with.
If you are looking to invest in real estate in Cincinnati or Northern Kentucky, make sure you are working with an investor friendly realtor. We love helping investors because we are investors ourselves! Our mission is to help families find their way home, and part of that mission includes helping families build their wealth through investment properties!
TRANSCRIPT:
Eric: So, hey guys. Congrats on your first rental property of the portfolio! So, why don’t you tell us a little bit about how buying the house went for you.
Luke: It’s good. It was a good learning experience. Eric helped us through each step of the way, and we’re excited to get into it. So, work with Eric. He’s a good guy. Honest guy. We trust him. We like him.
Eric: Awesome, thank you so much!