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Real Estate Investors Association of Greater Cincinnati

Is Wholesaling Still Do-Able in 2022? (The Whole, Unvarnished Truth)

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              Ah, for the good old days of 2009.

              Finding deals was SO easy.

              We didn’t even need a marketing budget; there were literally thousands of bank-owned and short sale deals just sitting right there in MLS, and a day of looking at 15 houses and making offers would usually turn up at least one at literally fifty cents on the dollar.

              Of course, figuring out what “fifty cents on the dollar” meant was a guessing game; so few houses were selling that coming up with comps was nearly impossible.

              And getting those deals sold was a teeth-gritting, anxiety-producing process, too; even at a 40% discount, there weren’t a ton a motivated cash buyers in the market, and when we called 10 who’d specifically identified that kind of property in that area as their favorite, they’d all say, “Yeah, I might be able to get there in the next week or 2”. Buyers saw no reason to go runnin
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Why it’s Hard to Learn Creative Finance (or Anything Else You’re Struggling With)

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Why it’s Hard to Learn Creative Finance (or Anything Else You’re Struggling With)

When a topic (say, real estate, or creative real estate), or anything else) is brand-new to you, it's easy to hear, read, watch, whatever it is you do, something that strikes you as true and valuable...

But because your brain doesn't have anything to relate it to, it seems to store it in a place that's not accessible when you want it.

It's like there's a set of organized files for some things (I know how to quilt, or play the guitar, or drive to the grocery store) that if something else comes in that can be related to those "(I'm learning how to make collages, oh, hey, it's similar to making quilts. Here's a ukulele, oh, it feels like a tiny guitar, but oh, hey, the tuning is different this way. I need to go to my friend's house, oh, it's go to the grocery store and then turn left, right, left") it's easy to process and remember.

If there's nothing in there that the brain can relate to what you just learned, the new info seems to go into a junk drawer--or get misfiled.

"They're talking about options on houses. Those sound awesome. Apparently, you need some cash, which I have, and a seller who doesn't really want to sell, whi
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Cincinnati "Renter's Choice" Law requires rental deposit alternatives and much more

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The City of Cincinnati now requires that all rental housing providers who "own and control more than 25 units" offer alternatives to a full rental deposit, including so-called "deposit insurance" or the option of paying the deposit over several months.

This ordinance also re-defines retaliatory eviction as any eviction that occurs within 6 months of a tenant reporting code violations or other conditions to applicable authorities, unless the housing provider can prove "by a preponderance of evidence" that the eviction is due to the tenant laying waste to or illegally using the property, or the owner wants to move into the house or remove it from the rental market permanently, or the property must be vacated to make repairs. 

It contains a disclosure that must be given to residents prior to move in, as well.


Click to read final version of new law: Renters Choice  

Recorded council session click HERE