Turnkey Rentals in Youngstown Ohio
I have created 2 nicknames for Youngstown Ohio since I moved here last February. "Little Detroit" & "Cap Town". "Little Detroit" refers to how hard the real estate crash hit this town, similar to the way it did in Detroit. It crippled sections of the city & left properties empty & decaying. "Cap Town" doesn't refer to the fact that you may be shot walking down the wrong street. I'm referring to the ridiculous Cap Rates that are available in Turnkey Rentals in this town. Fact is Youngstown has been facing hard times for a very long time but people still live, work, & raise families here.
Buy in for investors is incredibly low & rents are decent which drives ROI thru the roof. The key for this to work is having a team in place. Property management, a capable construction crew, & consistent marketing & acquisitions are what drives the ability to produce turnkey rentals for out of state investors.
As another investor from San Diego just messaged me last night, there used to be a lot of this in Youngstown but it seemed to dry up around 08 09 after the crash. Seems like the bulk of local property management companies went under & only a few survived. Probably due to being over leveraged from their own investments but who knows?
Fact is I couldn't find this turnkey rental business anywhere in the area so I moved here to build it. I moved here from Pacific Beach in San Diego to do this if anyone ever questions my resolve. Everyone thinks I'm crazy, & they're probably right, but in 5 years I can build a solid real estate portfolio while building a company to manage it, creating a very comfortable passive income stream before shoving off "Back Back to Cali Cali". I'm sorry, I couldn't resist.
House to Home is our company & the umbrella name for 2 separate entities, House to Home Construction & House to Home Properties. We are a full service construction company, real estate investment company, & manage our own portfolio of rental properties. We would like to network with other investors who can see the value in what were doing & who may be interested in what Youngstown has to offer.
Surrounding markets include towns such as Cleveland, Pittsburgh, Akron, Canton, & Warren Ohio.