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Cincinnati and Northern Kentucky Real Estate Blog

Podcast #12: Hard Money Lending

Podcast 1 Hard Money Lending

For this podcast about hard money loans I sat down with Kay Battle of Common Sense Capital Solutions.  During the podcast we discussed investing in real estate, hard money lending, and how hard money loans can help investors.  If you want to learn more about hard money loans and how hard money lenders operate this is a great pdocast for you.

I hope you enjoy the podcast and find it informative.  Please consider sharing with those who also may benefit.

Listen via YouTube:

You can connect with Kay on LinkedIn.  You can reach out to Kay for more information on their lending products by emailing her at info@cscapitalsolutions.com and check out the company website Common Sense Capital Solutions.

You can connect with me on FacebookPinterestTwitterLinkedIn...

How To Prevent Mosquitos from Over Taking Your Yard

How To Prevent Mosquitos from Over Taking Your Yard

How To Prevent Mosquito’s from Over Taking Your Yard

Not only are mosquitos quite an annoyance they are also considered one of the deadliest animals in the world due to the fact that they can spread diseases and viruses through their bites.  Whether one is enjoying a relaxing day on the deck, grilling for family and friends or just tending to the yard mosquitos can quickly make what is enjoyable miserable after the itching sets in from mosquito bites.  This article provides tips for homeowners to help reduce mosquito levels in and around the house so the time spent outdoors can be pleasant.

Facts About Mosquitos

Not all mosquitos bite humans, in fact it is only the pregnant females of mosquitos that bite humans or other animals for blood.  The blood is used by the mosquitos to help produce eggs, eggs that must be laid in stagnant water.  Without stagnant water mosquitos do not have a place to multiply.  While in the water mosquito larvae will feed on algae and other bacteria in the water.  It can take up to 40 days for mosquitos to transition to the adult flying variety that cause all the problems.

Drain Standing Water

Standing water is ground zero for mosquito breeding grounds.  Without standing water mosquitos have nowhere to lay their eggs. That water can come from sources such as the rain, water sprinklers, pools, gardens, planters and more.  Where ever water sits stagnant gives mosquitos the opportunity to multiply.  Water collects in buckets, used tires, garden tools, pool toys, kids toys and even some types of plants can collect water that provide mosquitos enough of an area to lay eggs.  The...

Common Home Problems And How To Deal With Them

Common Home Problems And How To Deal With Them

Common Home Problems And How To Deal With Them

When it comes to home ownership the home owners are the ones responsible to make repairs or call a professional to help out.  An unmaintained home can quickly lead to disaster as little things like plumbing leaks, leaking gutters, electrical problems can turn into major repairs requiring a lot of money to fix.  On the other hand fixing those minor issues can be a great cost savings to the owner and results in a home that works great and stands the test of time.  Check out some of the common home problems and how best to deal with them below.

Clogged Toilet

Nothing can be worse than a clogged toilet.  Especially if there is only one toilet in the house avoiding a clogged toilet is not possible.  Whether the clog is a result of children putting things in the toilet that don’t belong, old drain lines or something else, clearing a clogged toilet can be easy with the right tools.  A plunger and a toilet auger are must haves for any homeowner as their onetime cost alone should total no more than $50 dollars for a good set.  On the other hand a call to a plumber for clearing any toilet clog can be $75 or more per call and that sometimes is just the starting fee.  If a particular toilet is prone to clogging the cost of calling a plumber can add up over time.  To learn how to properly plunge or auger a toilet be sure to check out this article here which takes you through the steps of unclogging drains.

Clogged Sinks

Clogged sinks are another common issue that generally will happen...

Great Things To Do In Cincinnati During The Summer

great things to do in Cincinnati During The Summer

Great Things To Do In Cincinnati During The Summer

Looking for some fun things to do in Cincinnati this summer?  Whether you are a resident or visiting from out of town, Cincinnati has lots to different options to keep one busy.  From amusement parks, water parks, museums, the theater, food, and more check out some of the great things Cincinnati has to offer below.

Amusement Parks

Looking to ride some roller coasters or get wet with some water slides or both then Kings Island (located a little over 20 miles north of Cincinnati) is for you.  Kings Island offers a variety of different roller coasters and other carnival type rides to keep one busy all day.  In addition to the rides Kings Island offers Soak City for cooling off and enjoying the water.  With thirty six water slides, two wave pools and more Soak City can be enjoyed on its own or in conjunction with the roller coaster and regular rides in Kings Island.

Closer to Cincinnati (approximately 10 miles east of the downtown area) is Coney Island that also offers rides and a water park. Coney Island’s offers a number of different thrill rides and carnival type games to keep you entertained.  On the water park side Coney offers water slides, a water tower, a diving pool and has the world’s largest recirculating pool which covers two acres.  Whether you want to enjoy the water park or the carnival rides Coney is another place to go in Cincinnati.

Museums

Cincinnati has many different museums to choose from offering options for modern...

The Top 10 Highest Priced Apartment Buildings For Sale Today In The Greater Cincinnati Area

highest priced apartments in Greater Cincinnati

The Top Ten Most Expensive Apartment Buildings In Greater Cincinnati

The Greater Cincinnati area has been getting a lot of attention from out of state and even out of country investors looking for multi-family apartment buildings in order to build their cash flow empire.  With prices being paid for buildings in the Greater Cincinnati area investors can find their dollars generating more cash flow in Cincinnati than in many other large markets around the United States.  Check out some of the most expensive multi-family listings available on the market today as well as learn more about the locations they are in.  If you want to learn more about the cash flow possibilities of any particular property be sure to get in contact today with a local Cincinnati and Northern Kentucky Real Estate agent.  (This list focuses on multi-family buildings in one location as opposed to a listing of a portfolio of property spread around the city that are listed for sale as a package deal.)

Cincinnati, Ohio

Settled in 1788 Cincinnati metropolitan area is one of the 28th largest economies in the US.  Home to such major corporations such as Kroger, Procter and Gamble, Great American Insurance and more it has a population of approximately 2.1 million people.  Being so close to other major cities makes Cincinnati a great place for those looking for work or low cost of living housing.

Crittenden, Kentucky

Located in the Northern part of Kentucky it is close to the Cincinnati metropolitan area.  It was settled in the early 1800s.

Sedamsville Neighborhood in Cincinnati,...

What To Know About Doctor Loans For Buying A House

doctor loan

What To Know About Doctor Loans For Buying A House

While the mortgage programs for military veterans is common knowledge due to being sponsored by the federal government, less known about are doctor loan programs offered by many banks. Some loan programs are generally offered exclusively to doctors whereas others expand to include many others employed in the medical profession.  Nurses, physician’s assistants, physical therapists and more may qualify for some of the programs depending on the lender.  This article focuses on the doctor mortgage loan programs in particular and some of the information provided for this article is from Walt Wollet of Fifth Third Bank who is licensed to lend in 32 states and based in the Greater Cincinnati, Ohio area.

Why A Mortgage Loan Just For Doctors?

Fresh out of school doctors may have a large amount of debt from student loans but due to their earning potential they represent a good client to the banks.  So while the doctor’s assets and current income may not be that high at the start of their career they have the ability to earn quite a bit and build up their asset base quickly.  Once employed as a doctor they are able to work for some time increasing their earnings as they go up.  The risk for job loss for doctors is also very low due to high demand for those in the profession.  That all adds up to a long-term customer banks would love to have and a reason to earn and keep their business.

Doctor loans are designed...

The Top 10 Highest Priced Homes For Sale Today In The Greater Cincinnati Area

the top 10 highest priced homes for sale today in the greater Cincinnati, Ohio area

The Top 10 Highest Priced Homes For Sale Today In The Greater Cincinnati Area

Cincinnati is the third largest city in Ohio and the Greater Cincinnati Metropolitan area covering Ohio, Kentucky and Indiana is the largest metropolitan area in Ohio and the 27th largest metropolitan in the United States.  The Greater Cincinnati area has a unique variety of architecture and the homes offered in Cincinnati are no different in their unique style and features.  You can find 100+ year old one of a kind homes in different neighborhoods in Greater Cincinnati as well as brand new homes with modern features.

The Greater Cincinnati is no stranger to luxury homes and has many luxury apartments, condominiums, and homes to choose from.  The neighborhoods these homes are found in are in and around the Greater Cincinnati area and represent the best the city has to offer.  These homes offer some of the latest and greatest in luxury as well as technology and are found in the following great neighborhoods:

Indian Hill, OHio 45243:

What began as a farming community in 1904 the Village of Indian Hill later was reshaped into more of an area for large estates.  The homes in Indian Hill represent some of the best of what Cincinnati has to offer.  In 2002 the Robb Report rated Indian Hill, OH as one of the best places to raise a family.  Of the top ten priciest homes in the Greater Cincinnati area Indian Hill has...

What To Consider When Buying A House To Tear Down And Build New

What To Consider When Buying A House To Tear Down And Build A New Home

What To Consider When Buying A House To Tear Down And Build New

In many older developed neighborhoods there is very little vacant land available for those wanting to build a new home.  For some buying land with an old home and tearing down the old home so a new home can be built can make economic sense.  Whether the neighborhood is preferred for it’s location, the great schools it is affiliated with or just the community charm, buying an old house so a new one can be built after tear down can be a great strategy.  This article explores some of the considerations home buyers should take into account when buying a home to tear down for a new construction build.

Get A Team In Place Prior To Even Considering The Purchase

As there are many steps and considerations involved in buying a house to tear down for purposes of building a new home having your team in place from the start is important. Team members should include an architect (for fully custom builds, some builders already have architects on their team), a builder, a real estate agent, a mortgage lender and a real estate attorney.  These team members will need to work together to make sure that the home and land that is being purchase will meet all the requirements so a new house can be built on it.  Miss any of the critical considerations below then the entire plan will fail.  

Important Things To Consider

Permits

For starters the new home buyer will need to verify if a permit is needed to tear down a home. Due to all the pieces of a home, tearing it down can have an environmental impact and local governments want to make sure hazardous items from a demolished home are properly disposed...

What Kind Of Price Reduction Makes Sense For A Home That Is Not Selling?

What Kind Of Price Reduction Makes Sense For A Home That Is Not Selling?

What Kind Of Price Reduction Makes Sense For A Home That Is Not Selling?

Two of the biggest reasons a home does not sell is due to overpricing and the condition of the home not being in move in ready shape for the average buyers.  Condition issues with a home can always be dealt with through proper pricing as for every home there is a buyer when the price is right. The main reason for lack of interest in any home is pricing.  Without the right price buyers won’t bother since it may be a waste of their time to negotiate if they don’t believe the seller would be willing to come down.  Thinking that any reduction in price will work is not the answer to an overpriced home, in fact the amount of reduction that must be made to a home is based on a few different factors like the current price of the home, how long it has been on them market and its current condition. This article will explore what kind of price reduction will be needed for a home that is not selling.

Why Does The Price Reduction Amount Make A Difference?

The amount of the price reduction is what will make the biggest difference when selling a house. Just as a one dollar price reduction will not make much difference when a home is priced in the hundred thousand dollar range neither will a price reduction of $1000, $5000 or even $10,000 make much difference in a home that is worth more than one million dollars. For a home priced at $505,000 reducing the price to $490,000 can have a big impact since that home will now show up in buyer searches where the price range is $500,000 and below.  Whereas prior to the price reduction buyers searching below the $500,000 range would never see the $505,000 home, they will...

Smart Devices To Help Save Energy And Money In The Home

smart devices to help save energy and money

Smart Devices To Help Save Energy And Money

All it takes is a smart phone, a smart device and an app to take your home into the future and turn it into a smart home.  Generally smart devices are devices that are connected to the internet and do more that the regular version of that device would do.  A smart security system can send you active reports of changes to the system, whether someone has entered the home or the whether smart camera detected the delivery person dropping off that package you have been expecting. Smart monitoring devices can check if no one is home and adjust temperature settings accordingly to help save energy.  Here are some areas of the home a homeowner can make their home smarter which can also help with the convenience factor and can help save money as well.

Whole House Smart Water Monitoring

Imagine if a device can monitor each and every faucet in the house to know how much water has been used from each?  Using that information that device can give tips and insights on how to save money and save water at the same time.  Imagine if that same device can also detect water leaks and also shut off the water completely in the event of a major pipe burst minimizing any potential water damage. Such a device does exist with, Moen FloStreamLabs, and Belkin’s Phyn smart water assistant.  These devices can monitor each and every water source in the house from the outdoor spigot, to toilets, showers, and sinks.  That...

Where To Get Great Barbecue In Cincinnati

where to find great barbecue in cincinnati ohio

Where To Get Great Barbecue In Cincinnati

When people hear Cincinnati they may commonly think about the special variety of chili available here (that is a topic for another blog article), Graeters ice cream, goetta or some of the Cincinnati based specialty sausages of German origin.  Some may not know Cincinnati has a great barbecue presence that includes a nationally recognized barbecue joints.  Cincinnati is definitely a foodie paradise and barbecue is no exception as can be seen by the list of great barbecue places listed below.

Eli’s BBQ

Eli’s BBQ started up business in 2011 serving up delicious barbecue on Cincinnati’s Fountain Square.  With the initial success from a summer of hard work they decided to open up a brick and mortar shop on Cincinnati’s east side.  Now Eli’s BBQ has five locations located all over the Cincinnati area.  In 2016 online business news magazine Business Insider named Eli’s number three in the nation of top barbecue places in the US.  Come early though to make sure you get a seat as their food has been known to sell out due to the huge demand.

...

Podcast #11: Financial Planning and Real Estate

podcast 11 financial planning and real estate

For this podcast about financial planning I sat down with Scott Trent of Skylight Financial.  During the podcast we discussed financial planning in general, qualifications to be a financial planner and how a financial planner can benefit homeowners and real estate investors.  This podcast is helpful for those who may not be certain what a financial planner does and can learn how they can benefit from working with one.

I hope you enjoy the podcast and find it informative.  Please consider sharing with those who also may benefit.

Listen via YouTube:

You can connect with Scott Trent on LinkedIn.

You can connect with me on FacebookPinterestTwitterLinkedInYouTube and Instagram.

About the author: The above article “Podcast #11:  Financial Planning and Real Estate” was provided...

1031 Exchange In Real Estate

How Is A 1031 Exchange Used In Real Estate?

What Is A 1031 Exchange In Real Estate?

The Internal Revenue Code (IRC) 1031 (26 U.S.C. §1031) provides for the deferral of capital gains when selling and buying like kinds of property.  In the past the type of property that could be exchanged was more open but as of January 1, 2018 1031 exchanges only apply to real property AKA real estate.  An example would be a real estate investor who has a single family rental home that they purchased for $100,000 ten years ago and wants to sell it today to buy a multi-family building.  Today the rental home is worth $200,000 due to improvements made in the home and increase in overall real estate values.  Without a 1031 exchange the investor would have to pay tax on the $100,000 in gain ($200,000 sale price today minus the original purchase price of $100,000).  Through the process of a 1031 exchange the investor can use the proceeds from the sale of the single family home to directly purchase the multi-family building and not have to pay tax on any gains.  Obviously that is a very simplified example and there are many more moving parts to a 1031 exchange which this article will explore.

(Note: nothing in this article should be taken as tax or legal advice.  1031 Exchanges are highly complex tax transactions that should be processed with the assistance of local experienced legal or accounting professionals.)

Why Use a 1031 Like Kind Exchange?

The real estate you will be selling and purchasing for a 1031 exchange should be investment real estate, in other words real estate used for the production of income or used in one’s business. Real estate held for recreational...

Real Estate: Should I Sue?

real estate: should I sue?

Should I Sue?

When something goes wrong during a real estate transaction the question comes up of should I sue? While it is easy to talk about filing a lawsuit and expecting an open and shut case the reality is quite different. This article looks at all the potential parties that could be sued, the reason they may sue and the possible outcomes to help determine whether it makes sense to sue someone when it comes to a real estate transaction.  As with anything legal related it is highly recommended to speak with a local attorney who is an expert in the matter as laws vary state to state and even city to city and this article only covers the topics of lawsuits in a general manner and does not cover specifics as to each and every situation.

Should I Sue My Real Estate Agent?

When buying or selling a home a real estate agent is one of the more often seen person helping either the buyer or seller out and therefore more likely to be considered the target for a lawsuit.  Those who are thinking of suing their real estate agent or the agent for the other side first need to look at if the agent actually did anything wrong.  Real estate agents are bound by a code of ethics that they are required to operate by when dealing with clients and customers.  There is a difference too in the duties an agent owes to their client versus the duties they own to a customer or to the other party in a transaction.  For instance an agent who represents a buyer should not be sharing with the seller personal financial information that could indicate how much home they could afford.  If an agent who represents the buyer were to share that information with a seller...

Smart Things To Do After Buying A Home

Smart Things To Do After Buying A Home

Prior to closing on the purchase of a home the new homeowner to be should consider what types of services they will be needing for the home. For some of those services calls should be made prior to closing so as to make sure upon moving day the house has power, water and any other services needed to make sure everything goes smoothly.  Most services that are acquired for a home are obtained by contacting the provider directly and letting them know the date the service needs to be turned on.  This article explores what kind of service providers should be contacted by new homeowners and offers advice on avoiding getting overcharged through those claiming to be service brokers.

When To Request Services

As mentioned above for some services the service providers should be contacted before closing in order to make sure services like power, water, and internet are switched over to the new owners name in time for when they need to move in.  With some companies a call should be made at least a couple of days before so that they have enough time to process the change in names of who will be paying for the bill.  This is especially important for the electric, gas and water bill as many sellers will request the service be taken out of their name as soon as closing day in order to not spend any extra money than they have to.  If the home being purchased has a sump pump the lack of power can cause water backup in the basement which will end up in a big mess for the new homeowners to take care of.  The home sellers are not expected to maintain the power on a home after closing day so the new owner needs to make...

Smart Tips For Having A Quick Spring Home Sale

Smart Tips For Having A Quick Spring Home Sale

As a Greater Cincinnati real estate agent I am asked often when is the best time to sell a home and how should I prepare my home to sell quickly.  In many real estate markets around the U.S., Cincinnati and Northern Kentucky included, Spring time is the best time to put a home on the market since that is the time the most buyers will be out looking for a home. No one really wants to have their home sit on the market for months and when the housing market is as strong as it is currently, homes should be selling in a short amount of time.  This article will share some tips for homeowners looking to sell their home during the spring time and the tips will help to get their home sold fast.

Pricing Is Critical

This is often repeated by many articles that address selling a home but bears repeating.  The price set for a home for sale is one of the key factors that determines how fast or how slow a home will sell.  Price a home too high and the buyers will ignore the home as if half the foundation has melted away.  After all no one wants to spend more on anything than they have to. Homes generally are not unique and if they are very unique then it is even harder to sell them since most home buyers don’t want an extremely unique house.  For most buyers one home is interchangeable with another home so long as it meets their basic wants/needs like bedroom count, bathroom count, kitchen amenities and more.  Sellers should not try and price their home based...

10 Great Tips For Showing Your Home

10 Great Tips For Showing Your Home

Once your home has been prepared and is now on the multiple listing service (the MLS and all sites that get their listings from the MLS) the time comes to get ready for buyers to come and visit.  Whether you are planning on having an open house or prefer to just let agents walk through with their buyers having the home ready for when the buyers visit will go a long way to impressing those very buyers.  Sellers should not let the homebuyers down by showing what looks to be a great home in the pictures and video online but then the in person viewing is something completely different.  This article will provide home sellers with some great tips to make sure homebuyers leave with a great impression which can help make their decision of making an offer easier.

1.  Set The Stage

Not only does staging help portray a good image of the home for pictures it also helps the home show well for the in person visit.  Hiring a professional stager can help but a lot of staging tips can be picked up from the internet and used for any home.  Certainly newer furniture with matching curtains shown with modern colors can make a room pop but not everyone has the budget to buy or rent furniture just for staging purposes.

Instead homeowners should focus on cleaning up rooms by removing clutter, repainting walls if needed, replacing or refreshing flooring and making sure the furniture is positioned to show how open a room can be.  Walls should...

6 Signs That Your Home Is Priced Too High

six signs that your home is priced too high

6 Signs That Your Home Is Priced Too High

The price of a home that is up for sale is one of the critical aspects of getting a home sold. Price a home too high and the right buyers will not even give a home a second look.  Instead the home will sit on the market without much interest and the longer it sits the more of a negative association will come with that home. Not that there may be anything wrong with the home but the longer it sits on the market then homebuyers automatically assume that something is wrong.  As a result it pays to make sure a home is priced right from the start and/or the homeowner is ready to adjust the price if the signs show the price to be too high.  This article explores some of the signs that may show that a home is priced too high.

Home Price Based On What You Paid And Upgrades Made

Just because you paid a certain amount for a home in the past does not mean it is currently worth that much.  Homes need continual upkeep and upgrading in order to retain their value.  As a homeowner lives in a home things wear out over time.  Furnaces lose efficiency, garage doors and their openers breakdown, carpets wear down, paint gets old.  If  no repairs or upgrades were made or no other updates of the home were done in any way since buying it the value may not be the same as the day it was purchased.  Certainly if the real estate market was on an uptrend from when the home was originally bought and then today it is put on the market to sell there could be some increase in value but not if the condition has not been maintained or improved throughout the time of ownership.  If the real estate...

Tips For Buying A Fix And Flip House For Investment Purposes

Tips For Buying A Fix And Flip House For Investment Purposes

Tips For Buying A Fix And Flip House For Investment Purposes

Popular these days is buying a house which is in average or poor shape and fixing it up in order to sell it for a profit.  Some buyers purchase these homes and repair and remodel the homes themselves whereas others are using local contractors to do the work.  After the purchase price and repair costs have been accounted for the investor is hoping the home will be worth more so that once sold they can pocket some profit.  Obviously there is a lot more to buying a home with the intent of fixing and flipping it for profit as this article explores.

How Do Investors Find Their Homes To Rehab?

Many investors will work with local real estate agents to get access to the multiple listing service (MLS) and have the agent setup a search so that once any property comes to market that meets their criteria they are notified about it via email or text. Oftentimes properties on the MLS (for instance see properties listed on the Greater Cincinnati MLS here) are being pursued by many different investors and the price can be bid up due to competition so some investors shy away from MLS properties.  Another alternative that buyer investors pursue is off market deals which are either found directly from the sellers themselves or through Wholesalers whose entire purpose is to find off market property that someone is looking to sell and may not always be in the best of condition. These Wholesalers will then buy the property themselves for a low price and then resell to an investor buyer looking to fix and flip the property.  Some other Wholesalers will instead get a property under contract for a low price with the intent of assigning...

Should You Self Manage Your Investment Property?

Should You Self Manage Your Investment Property?

Should You Self Manage Your Investment Property?

Whether you purchase investment property on your own or happen to inherit it the question of whether one should self-manage the property does come up.  By self-managing a property the owner can save money that they would otherwise pay in monthly management fees, save on tenant placement fees and be allowed to shop around for the best prices from contractors.  On the other hand a property manager may be able to make you more money out of your investment by treating it exactly as it is which is a business.  This article looks at whether real estate investment owners should self-manage their property or turn it over to a property manager.

What Does A Property Manager Do?

A skilled property manager (PM) more than just collects rents and places tenants.  Property managers need to be doing just that, managing the property.  That not only includes collection of rents and placement of tenants but also includes managing the tenants and managing the tenants and their interaction with your asset.  PMs should be inspecting the property on a regular basis to make sure tenants are not abusing the place they live in.  While some minor wear and tear to a living space is to be expected, things like broken windows, broken doors, damaged walls, trash disposed of in the wrong place will quickly lead to degradation in the value of your investment asset which means the amount of rent you can take in could also decrease.  When PMs notice tenants being too hard on their living space they should be requesting the tenant to live in their rented space according to the lease and other rules set out for them.  ...

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