Posted March 21, 200718 yr I wasn't real sure where to post this...but it is a fantastic story! They believe in city Rehabbers à go-go learned their trade the hard way BY JAMES MCNAIR | [email protected] March 21, 2007 PHOTO: Twins Mitch (left) and Matt Painter have bought, repaired and sold more than 100 houses in Cincinnati's oldest neighborhoods. They own about 120 apartment units in Clifton and Hyde Park. The Enquirer/Gary Landers UNIVERSITY HEIGHTS - What Mitch Painter didn't know about construction, he learned from books, videotapes - and his mistakes. The year was 1999. Painter was 18 years old, attending the University of Cincinnati and rehabbing a duplex in Norwood and a triplex in Clifton bought with seller financing. He did all the work himself. He replaced wires and pipes. He rehung windows and laid tile. He nailed down shingles and installed kitchen cabinets. For more information, click the below link. http://news.enquirer.com/apps/pbcs.dll/article?AID=/20070321/BIZ01/703210351/1076/BIZ
March 21, 200718 yr "After eight years of messing with old, neglected buildings, the Painters believe they're ready for their debut on the new construction stage. Their proposed project: A $12 million, 44-unit condo tower in Columbia Tusculum, starting this fall. Units will sell for $400,000 to $700,000, said Mitch Painter. He plans to invest $500,000 to $750,000 of his own money." Something doesnt add up there. But this is indeed a great article. Someone should send an email to their website and we can plug them in here at UrbanOhio.
March 21, 200718 yr I'll send them an email and inform them about how UrbanOhio is a great place for them to discuss their projects and other issues. We'll see if they choose to join and keep us informed!
March 21, 200718 yr Hey Guys, Mitch Painter here. Randy invited me to join, up to now I was not aware of your group. I would love to keep you abreast of our upcoming projects. We believe that any city is just as good as it's core. We are pushing to better the inner city neighborhoods. I am open to any questions, thoughts, or ideas anyone might have. We are also looking for new investors, we pay 13-18% interest secured with our buildings. www.keystoneinvestors.org Mitch Painter I am also running for city council in the fall in a push to motivate young people to step up.
March 21, 200718 yr Fantastic story! Glad to have you here Mitch! I'm anxious to have my own building to rehab, but I keep telling myself to wait until graduation. Maybe I should do something a little sooner.
March 21, 200718 yr Hey Guys, Mitch Painter here. Randy invited me to join, up to now I was not aware of your group. I would love to keep you abreast of our upcoming projects. We believe that any city is just as good as it's core. We are pushing to better the inner city neighborhoods. I am open to any questions, thoughts, or ideas anyone might have. We are also looking for new investors, we pay 13-18% interest secured with our buildings. www.keystoneinvestors.org Mitch Painter I am also running for city council in the fall in a push to motivate young people to step up. Come to Dayton! Please!
March 21, 200718 yr ^Or atleast Miamisburg! "You don't just walk into a bar and mix it up by calling a girl fat" - buildingcincinnati speaking about new forumers
March 22, 200718 yr Hey Guys, Mitch Painter here. Randy invited me to join, up to now I was not aware of your group. I would love to keep you abreast of our upcoming projects. We believe that any city is just as good as it's core. We are pushing to better the inner city neighborhoods. I am open to any questions, thoughts, or ideas anyone might have. We are also looking for new investors, we pay 13-18% interest secured with our buildings. www.keystoneinvestors.org Mitch Painter I am also running for city council in the fall in a push to motivate young people to step up. Great to have you! I was hoping you got the email, but I wasn't sure if it went to the correct person or not. Its great to hear that you're running for council...I would love to hear some of your positions when it gets closer to election time! Keep up the good work, you'll certainly hear a lot of good words from people on here!
March 22, 200718 yr Here is some background on their company (from the website): Founded in 1999, Keystone Properties & Investments, LLC, is an experienced and tenacious investment group buying large apartment buildings throughout the greater Cincinnati area. Mitch and Matt Painter are equal owners of the company who also specialize in finding great deals on large buildings in A+ areas such as Hyde Park, Oakley, and the Gaslight of Clifton. They currently own over 90 apartment units. The Painter brothers also specialize in historical renovation projects within Cincinnati’s central neighborhoods. They have sold over 150 houses to date and plan to begin several large condo conversion projects and new construction jobs shortly. The Painter brothers' integrity and reputation is unsurpassed and comes from a long linage of real estate professionals. The Painter family has been pivotal in the Cincinnati real estate market for 3 generations. They are also well liked and trusted throughout the community. The Cincinnati Business Courier has noted the brother’s efforts for historical renovation. Keystone Properties currently has 5 full time employees and a gross yearly revenue of over 4 million dollars. They also employ up to 20 sub-contractors at one time. By providing such an immense amount of jobs for the community in combination with the restoration of the worst houses in the neighborhood, the painter’s continue to have a large impact on the local economy. Mitch Painter was quoted in the Business Courier as saying, “We take the worst house on the best street and make it the taj mahal.” This practice increases property values all around, and generates collective neighborhood appreciation. Committed to the environment, all of the properties Keystone completes now are made energy efficient with the use of high efficiency heating and cooling systems, brand new double pane insulated windows, instantaneous hot water heaters, and energy star new appliances. In applying these practices keystone’s goal is to decrease carbon emissions and help slow the global warming emergency that we are undergoing on earth. Keystone is also planning on utilizing solar panels and wind generators on future projects. http://www.keystoneinvestors.net/about.htm
April 10, 200718 yr Wow, they're doing basically everything I want to—restoring historical buildings. I bought and have started reading a real estate book, but that's the furthest I've gotten at this point. :oops:
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