{"id":185076,"date":"2025-10-06T16:42:40","date_gmt":"2025-10-06T22:42:40","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=185076"},"modified":"2025-10-06T16:43:23","modified_gmt":"2025-10-06T22:43:23","slug":"how-sue-mccormick-has-built-a-20-unit-rehab-portfolio-in-dayton-ohio","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/how-sue-mccormick-has-built-a-20-unit-rehab-portfolio-in-dayton-ohio","title":{"rendered":"How This Investor is Improving Their Hometown One Rehab at a Time"},"content":{"rendered":"\n

Sue McCormick is five years into a plan she long postponed while raising two kids as a single mom. \u201cWe are working on our 20th project as we speak,\u201d she said. \u201cWe\u2019ll finish our 20th project in a couple of weeks, and then we have two more in the pipeline.\u201d <\/span><\/p>\n\n\n\n

The Dayton native invests <\/span>where she grew up<\/span> for affordability, and because rebuilding old blocks brings her <\/span>much<\/span> joy.<\/span><\/p>\n\n\n\n

How She Got Started, and Why Dayton<\/span><\/h2>\n\n\n\n

McCormick had always wanted to invest, but waited until life allowed it. Podcasts were the on-ramp that built confidence and a roadmap. She targeted Dayton once she realized that homes in her hometown were more affordable. The community mission matters, too: She loves going into those communities and rehabbing properties to enhance those areas.<\/span><\/p>\n\n\n\n

Strategy and a Live Example<\/span><\/h2>\n\n\n\n

McCormick\u2019s strategy is simple: fix and sell. <\/span><\/p>\n\n\n\n

\u201cOur investment strategy right now is still rehabbing homes to sell,\u201d she said. \u201cWe get homes primarily from auctions, sites like yours [Auction.com] especially.\u201d <\/span><\/p>\n\n\n\n

Eight of the 20 properties McCormick has purchased in the last five years have been through Auction.com, the most recent one in June 2025. She targets about six to eight weeks for <\/span>a rehab<\/span>. <\/span><\/p>\n\n\n\n

A current project was purchased at a tax auction for $80,000, with <\/span>about<\/span> $70,000 <\/span>into rehab<\/span> so far.<\/span> She<\/span> plans to list <\/span>it<\/span> for <\/span>about<\/span> $269,000.<\/span><\/p>\n\n\n\n

Why Auctions Beat the MLS (for Her)<\/span><\/h2>\n\n\n\n

McCormick said she sees better pricing at auction than on the MLS, and she\u2019s upfront about the trade-off: Interior conditions are often unknown. <\/span><\/p>\n\n\n\n

\u201cI\u2019m not necessarily afraid of going into a house that I haven\u2019t seen pictures of,\u201d she said. <\/span>That risk tolerance is offset by potential discounts<\/span>.<\/span><\/p>\n\n\n\n

Managing From 500 Miles Away<\/span><\/h2>\n\n\n\n

Ohio\u2019s online foreclosure auctions make a long-distance strategy workable. As a <\/span>long-distance investor<\/span><\/a>, McCormick can get in the game without having <\/span>to physically fly to Ohio for every auction<\/span>. She has even bid on her cell phone while traveling or on vacation. <\/span><\/p>\n\n\n\n

Division of labor helps. She primarily sources the deals while her daughter goes to Dayton to check on the progress, with FaceTime check-ins with the contractor in between.<\/span><\/p>\n\n\n\n

The Contractor Who Stayed\u2014and Stayed<\/span><\/h2>\n\n\n\n

McCormick\u2019s Dayton network spans friends who tackle small errands to a contractor who <\/span>became<\/span> family. Early on, a subcontractor lingered after hours while she toured a stranger through a house, staying mainly to ensure <\/span>she was safe<\/span>. <\/span><\/p>\n\n\n\n

\u201cFrom that moment on, I had a connection with this contractor,\u201d she said. \u201cHe has been with us for five years.\u201d And the lesson stuck with her: \u201c<\/span>Contractors can make or break you<\/span><\/a>\u2026 So having a contractor that I can trust is a major win.\u201d<\/span><\/p>\n\n\n\n

Due Diligence, Costs, and Early Lessons<\/span><\/h2>\n\n\n\n

McCormick urges newcomers to study the process, observe in person, and build a conservative budget. <\/span><\/p>\n\n\n\n

Research is <\/span>very important<\/span>, she said, while also <\/span>running comps<\/span><\/a>, trying to see inside if the property is vacant, and talking to neighbors as <\/span>top<\/span> things to achieve. When estimating costs on auction buys, she plans for worst-case scenarios, such as new plumbing, updating the electrical system, and replacing the roof. <\/span><\/p>\n\n\n\n

One caution McCormick pointed out was that underestimating can really kill a deal. Her first auction win had <\/span>undiscovered kitchen-fire damage<\/span>. They didn\u2019t make a lot of money, but it delivered the confidence to keep going.<\/span><\/p>\n\n\n\n

Title<\/span><\/a> vigilance is another takeaway. <\/span>After experiencing deed fraud on a property, <\/span>she<\/span> now recommends enrolling in a county alert that flags <\/span>deed<\/span> changes.<\/span><\/p>\n\n\n\n

Neighborhood Ripple Effects<\/span><\/h2>\n\n\n\n

Rehabs<\/span> have turned out to be a motivator for neighbors, not just a <\/span>balance sheet<\/span> win.<\/span> \u201cThe neighbors are affected. They feel better,\u201d McCormick said. <\/span><\/p>\n\n\n\n

As projects progress, <\/span>she\u2019s<\/span> watched more homeowners come outside to work on their own <\/span>places<\/span>, or even ask her crew for help.<\/span> <\/span><\/p>\n\n\n\n

\u201cA rehab project can not only enhance the community, but motivate the community in some ways,\u201d McCormick added.<\/span><\/p>\n\n\n\n

Advice to Start Today<\/span><\/h2>\n\n\n\n

Education first. McCormick suggests listening to podcasts and reading books. <\/span>She also <\/span>said<\/span> that she <\/span>found<\/span> Auction.com<\/span><\/a> through the <\/span>BiggerPockets podcast<\/span><\/a>, <\/span>and <\/span>at one time was<\/span> listening to two to three BiggerPockets episodes a day.<\/span> <\/span><\/p>\n\n\n\n

If auctions are your path, she also said to attend some, even if you have to do it for a year before you\u2019re comfortable. Then build your local network the way she did\u2014by showing up at auctions, hardware stores, and online community groups\u2014so you\u2019re not alone when issues arise.<\/span><\/p>\n\n\n\n

McCormick\u2019s story <\/span>fits<\/span> a busy <\/span>investor\u2019s reality<\/span>: <\/span>Pick<\/span> a market you understand, buy with a margin of safety, and rely on people you trust.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Sue McCormick is five years into a plan she long postponed while raising two kids as a single mom. \u201cWe are working on our 20th project as we speak,\u201d she […]<\/p>\n","protected":false},"author":613784,"featured_media":185067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[7358],"tags":[],"class_list":["post-185076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing-stories"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/185076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613784"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=185076"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/185076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/185067"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=185076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=185076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=185076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}