The Cincinnati Real Estate Investing Show

EP 013 | FC Cincinnati player to 70 Units: Bret Halsey's Cold Calling Playbook

Bret Halsey came to Cincinnati to play soccer for FC Cincinnati. He left with 70 units, 14 four-family acquisitions, and a direct-to-seller cold calling operation built from scratch, after nine months of calls before landing his first deal. In this episode, Bret walks through how he identified Pleasant Ridge as his entry market, why he niched down on the 1960s brick bunker fourplex, and how he went from a single owner-occupant FHA purchase to flipping four-families as capital-raising vehicles for larger deals. He also tells the story of buying three Price Hill four-families at auction with no West Side experience, a six-month hard money loan, and a tenant who blew up one of the buildings. Slocomb adds the operator's perspective on why Cincinnati's fourplex stock is one of the most replicable investment vehicles in any Midwest market: galvanized steel plumbing, aluminum wiring, boiler conversions, cast iron tubs, ceramic tile set in concrete, and why the same architecture that caps your rent upside also makes these properties nearly bombproof to own and operate. We also cover why the 12-unit building in Cincinnati is the four-family's overlooked sibling, and why the owner-occupant buyer pool on the back end is what makes fourplex flipping work at a spread you can't find in commercial product. If you are trying to break into Cincinnati off-market investing, the cold calling framework Bret describes: niching by neighborhood, building a 500-contact database, adjusting his pitch based on the owner's profile, is as practical a blueprint as this show has produced. What you will learn: * How Bret built a 500-contact, 120-lead database from the Hamilton County auditor's list * Why nine months of cold calling with no deal is normal, not a failure signal * How niching down to one neighborhood transformed Bret's underwriting confidence * Why the 1960s brick bunker fourplex is the most replicable investment vehicle in Cincinnati * What makes four-families viable for owner-occupants, house hackers, and investors, and why that dual buyer pool matters on the back end * How Bret used four-family flips to accumulate capital and scale into a 20-unit * The full mechanical breakdown on Cincinnati fourplexes: boilers, galvanized plumbing, aluminum wiring, baseboard heat conversions, and cast iron tubs * Why the 12-unit building shares nearly every operational characteristic as the fourplex,and why most investors overlook it * What happens when a tenant turns on the gas in a vacant unit, and what RCV insurance actually means when you need it * How to adjust your cold calling pitch based on the seller's profile and portfolio size 🎙 Guest: Bret Halsey, Real Estate Investor and Former FC Cincinnati Professional Soccer PlayerTimestamps: 00:01:00 — Bret's backstory 00:02:00 — Cold calling origins 00:05:00 — Cold calling routine 00:07:00 — Importance of niching down 00:09:00 — Why four-families 00:11:00 — Pivot: BRRRR to flip-and-scale 00:13:30 — Four-family flip thesis 00:19:00 — Financing advantage 00:19:30 — 100% financing model 00:25:00 — Negatives of four-families 00:31:00 — Four-family valuation 00:31:30 — Renovation playbook 00:36:00 — 12-unit parallel 00:39:00 — Missed deal lessons 00:40:00 — Price Hill explosion 00:43:00 — Why Pleasant Ridge 00:46:00 — Cincinnati hidden gems The Cincinnati Real Estate Investing Show is hosted by Slocomb Reed and Ian Cruz. New episodes every week. Subscribe, leave a five-star review, and share with a fellow investor.

Ep 012 | I Bought Apartments From Brandon Turner. Here's The Story.

Slocomb Reed Bought Brandon Turner's Distressed 24-Unit Apartment Using A Master Lease.. A Year after being the agent who sold it to him. Here's the full story 👇🏽 In 2019, Slocomb cold-emailed Brandon Turner a BiggerPockets buy-and-hold report on an off-market deal in Cleves. Brandon replied in under an hour. Within days, Slocomb was representing him as a buyer's agent. A year later, Brandon was done with it, three property managers in 14 months, and he wanted out. The deal structure Brandon proposed: a master lease starting the day due diligence cleared. Slocomb and his partner took over operations, collected rent, handled maintenance, and started turning units, while Brandon continued paying the mortgage, taxes, and insurance. What you will learn: * How Slocomb sourced a deal directly from Brandon Turner via a cold BiggerPockets email * What a master lease agreement looks like in practice and why both sides agreed in a heartbeat * How to reposition a distressed property before you own it * Why Cleves operates more like a tertiary market than a Cincinnati submarket, and why that works in your favor * How utility structure (water provider, electric vs. gas heat) directly impacts NOI and cap rate * Why $775 is a strong rent in Cleves and a warning sign in Westwood * The Amazon wage effect and what workforce employment shifts mean for affordable housing demand * Why Three Rivers Schools drives rental demand from tenants who do not even live in the district * What transitions between property managers cost you, and how to protect yourself on day one 📲 Follow @thecincyreishow so you never miss a conversation like this one. A five-star review helps us keep bringing neighborhood-level expertise to every episode. Timestamps: * 00:00 – Cold open: The master lease teaser * 00:45 – Welcome to the Cincy REI Show: The Brandon Turner episode * 02:00 – BiggerPockets era investing: What BP meant to investors who started 2012-2015 * 03:30 – The cold email: Slocomb hears Brandon on a Thursday morning podcast, builds a BP report, sends it to brandon@biggerpockets.com [brandon@biggerpockets.com] * 05:00 – Brandon replies in under an hour: "Can I call you in 15 minutes?" * 06:00 – Acting as Brandon's buyer's agent: Off-market, 24 units in Cleves, built in 1978 * 08:00 – Why Cleves acts like a tertiary market inside I-275 * 10:00 – Why quality property managers wouldn't touch 24 small one-bedrooms 20+ minutes from everything else they manage * 12:00 – Brandon's three property managers in just over a year: What went wrong * 13:30 – Slocomb texts Brandon the moment he hears the outro mention * 15:00 – Being surrounded by single-family: Why isolation from other multifamily gives you pricing control * 17:00 – Cleves Water Works: Less than half the cost per volume of Greater Cincinnati Water Works * 18:30 – All-electric, no gas: Tenant-paid heat, landlord-paid water only * 20:00 – The master lease structure: Brandon proposed it, not Slocomb * 22:00 – Queen City Pulse: Banks development, Newport Steel site, Conrad in Miami Township, Walnut Hills LIHTC, Cincinnati Park Score * 24:00 – How the deal worked: Brandon pays PITI, Slocomb collects rent, pays utilities and maintenance, starts turning units * 26:00 – Purchase price increased by 3 months of mortgage payments: Why the math worked for both sides * 27:30 – 15 occupied, 9 rent-paying: What the first 30 days of operations actually looked like * 29:00 – "We were told no one would ever pay more than $575 in Cleves." Slocomb got $650 before he even owned it. * 30:30 – Amazon's distribution center and the wage floor shift in western Cincinnati * 33:00 – Why $775 works in Cleves but destroys NOI in parts of Westwood * 35:00 – Property manager transitions: Why the first 30 days cost the most and how to protect yourself * 37:00 – Three Rivers School District: Parents and grandparents renting one-bedrooms for the school address * 38:00 – Cleves hidden gems: Marilee's Hardware and Make A Mia Pizza * 39:00 – Closing thoughts and episode wrap

Ep 011 | $1.75/SF in a Cincinnati Suburb Nobody's Watching: Joe Cornwell on Reading's Bridal District

Joe Cornwell has done 140+ units of multifamily and is mid-construction on a 75,000 square foot mixed-use development built inside a 1905 theater in Reading, Ohio. He knows why infill development inside the 275 loop is structurally constrained, why the Reading Bridal District commands downtown Cincinnati rents four blocks long, and what separates operators who can pull off ground-up development from those who should not try. In this episode, Joe breaks down what vertically integrated development in Greater Cincinnati actually looks like in 2026. We cover why Reading is one of the most overlooked markets in Hamilton County, how a new CRA tax abatement changes the investment math, and why the two-bedroom two-bathroom floor plan is the rent-per-foot sweet spot in every B-class development he has underwritten. We also get into the realities of ground-up development: nine months under contract before knowing whether the deal would close, a floodplain surprise that wiped out 11,000 square feet of planned commercial space, and why mentors who reviewed the deal said the numbers worked but still asked why he was doing it. If you are an investor evaluating mixed-use or infill development in Cincinnati, the Reading Bridal District breakdown starting around the 15-minute mark is worth the listen alone. Joe explains exactly what makes that four-block corridor command rents comparable to the Banks, and why it stops the moment you step off Benson Street. What you will learn: - Why infill development inside the 275 loop is a barrier-to-entry play most operators cannot execute - How Reading's new CRA tax abatement changes the calculus for investors and developers - Why the two-two floor plan outperforms on rent per square foot in every B-class comp Joe has run - What FEMA floodplain compliance actually costs you when you are mid-development - How vertical integration in construction changes which deals pencil - Where to add a bathroom in Cincinnati's most common housing stock: Cape Cods, American Foursquares, and Pittsburgh-potty ranches; and which neighborhoods justify a full pop top If this episode gave you a clearer picture of what development and value-add investing in Cincinnati actually looks like in 2026, share it with someone who needs to hear it. 📲 Follow @thecincyreishow on your favorite podcast platform so you never miss a conversation like this one. Leave us a five-star review if we've added value; it helps us bring more operators like Joe to the show. Want to connect with Joe Cornwell or learn more about the Reading market? Tune in, take notes, and reach out through the show. Subscribe. Share. Invest smarter. 🎙 Guest: Joe Cornwell | Founder, Realty One Stop & ROS Construction 🏙 Topics: Ground-Up Mixed-Use Development in Reading Ohio, The Reading Bridal District Investment Case, Why Infill Development Inside 275 Is Structurally Constrained, Reading's New CRA Tax Abatement, The Two-Two Floor Plan as a Rent-Per-Foot Sweet Spot, FEMA Floodplain Compliance Surprises, Vertical Integration in Construction, Adding Bathrooms to Cape Cods and American Foursquares Across Cincinnati, What Makes a Development Deal Worth Doing Timestamps: 01:16-02:25 - Joe's Background 02:43-03:11 - Value Add Journey 03:16-05:18 - The Reading Theater Project 05:18-05:59 - Cincinnati Field Trip To Tour Chasing Cali 05:59-17:02 - Bridal District Demand 18:12-22:54 - Development Barriers 27:54-30:27 - Two-Bed/Two-Baths in Cincinnati 30:48-42:46 - Cincinnati Renovation Strategy 44:50-45:06 - Reading Is A Hidden Gem 45:06-46:38 - Joe Cornwell's Favorite Cincinnati Hidden Gem The Cincinnati Real Estate Investing Show is hosted by Slocomb Reed and Ian Cruz. New episodes every week. Subscribe, leave a five-star review, and share with a fellow investor.

EP 010 | From 4 to 6 Units: The $10K Zoning Gamble That Added 30–40% in Value

Jeremy Komer is a Cincinnati-based real estate investor who specializes in value-add multifamily acquisitions in the city's older urban neighborhoods. Since pivoting from a career in aerospace after COVID, he has built a portfolio using nearly every financing tool available, from FHA house hacks to hard money, flips, and commercial construction loans, with a focus on forcing appreciation through creative deal structuring and density conversion. In this episode, Jeremy walks through one of his most complex deals: a direct-to-seller acquisition in Northside where he negotiated a creative parcel split, converted a neglected four-family into a six-unit, and navigated three rounds of Cincinnati's zoning variance process, all over a two-year period and just under $150,000 in total project costs. What you will learn in this episode: - How to find and negotiate directly with sellers, including a year of consistent follow-up before getting a yes - How to structure a parcel split to resolve a seller valuation gap without walking away from the deal - The three-stage Cincinnati zoning variance process and why you should expect to be rejected twice before getting approved - How a community petition helped win over the city's Plans Examiner - What changes when you cross from residential into commercial building code, and what will catch you off guard - How to use a commercial construction loan to avoid double closing costs on a value-add deal - What converting from four units to six units did to the property's appraised value Timestamps: - 00:00 – Welcome & Live Mastermind Intro - 02:00 – Jeremy's Background: From Aerospace to Real Estate Investing - 04:30 – Finding the Seller: Cold Approach and a Year of Follow-Up - 07:00 – Negotiating the Parcel Split and the Valuation Standoff - 11:00 – How Cincinnati's Parcel Split Process Works (Costs, Steps & Risk) - 15:30 – The Shared Sewer Line Problem and How It Was Resolved - 20:00 – Why the Deal Was Worth the Due Diligence Risk - 23:30 – Deciding to Convert 4 Units to 6 — and the Value It Added - 27:00 – The Three-Stage Zoning Variance Process: Two Rejections Before Approval - 33:00 – How a Community Petition Won Over the Plans Examiner - 37:00 – Financing the Deal with a Commercial Construction Loan - 41:00 – Navigating Commercial Building Code for the First Time - 46:00 – Exterior Work, DOT Permits, and Blocking the Sidewalk - 50:00 – What Was Harder Than Expected - 54:00 – Final Numbers, BRRRR Recap, and Lessons for the Next Deal The Cincinnati Real Estate Investing Show is hosted by Slocomb Reed and Ian Cruz. New episodes every week. Subscribe, leave a five-star review, and share with a fellow investor.

EP 009 | Lee Yoder | 8% Cap Rates Exist. You Just Have to Go Further Out

Lee Yoder is the founder of Threefold REI [https://threefoldrei.com/], a multifamily syndication company that acquires apartment complexes. Starting with a single house flip in 2017, Lee scaled to 930+ units and has taken three syndications full cycle. He builds his portfolio in small rural markets across Ohio and Indiana where institutional capital won't compete and runs his own in-house property management operation to maximize returns. In this episode, Lee Yoder [https://www.linkedin.com/in/lee-yoder-25793215a/] joins hosts Slocomb Reed and Ian Cruz to break down why he deliberately skips Cincinnati's most desirable properties to buy cash-flowing multifamily in small rural markets and how that strategy has consistently delivered better returns for his investors. Lee and the hosts also dig into the K-shaped rental economy playing out across Greater Cincinnati right now, what the spring 2026 market shift means for operators, and why bringing property management in-house changed everything for his portfolio. What You Will Learn - Why Lee avoids 100+ unit deals in major metros and how he competes by going where institutional buyers won't - The cap rate and cash-on-cash benchmarks Lee targets in rural Ohio vs. what Cincinnati deals are actually producing - How the K-shaped rental economy is splitting the market: Class A rents climbing while C-class one-bedrooms struggle - When to invest in unit renovations and when over-improving actually hurts your bottom line - What it takes to build operational expertise in a market you don't live in - Why Lee brought property management in-house and how it changed his incentive structure - What the late-March 2026 leasing surge looks like on the ground across Greater Cincinnati Timestamps: - 00:00 – Introduction & guest welcome - 02:15 – Lee's investing journey: From one flip to 930 units - 05:00 – Why Lee stopped chasing deals inside Cincinnati - 09:30 – How institutional buyers win on price and why you can't out-compete them - 13:00 – Going rural: Small markets, less competition, better yields - 17:00 – Two strategies for avoiding institutional competition (Lee's vs. Slocomb and Ian's) - 21:30 – Williamsburg, Ohio: Who lives there and why - 27:00 – Unit mix, current rents, and leasing conditions in spring 2026 - 31:00 – East side Cincinnati oversupply and how new deliveries hit C-class occupancy - 36:00 – AI leasing tools, Rent Engine, and the late-March market shift - 42:00 – The K-shaped rental economy: Class A vs. C-class in Greater Cincinnati - 48:00 – When to renovate and when to leave it alone in affordable housing - 53:30 – Bringing property management in-house: The why, the when, and the tradeoffs - 59:00 – Cincinnati hidden gems: Bike trails and the Little Miami Scenic Trail - 63:00 – Final thoughts and listener CTA The Cincinnati Real Estate Investing Show is hosted by Slocomb Reed and Ian Cruz. New episodes every week. Subscribe, leave a five-star review, and share with a fellow investor.