Hi BP Community,
I've been quietly reading all the wonderful posts and information you are all sharing with the community and have learned a tremendous amount. With all the info, I am finally setting myself up to purchase my first property. My strategy is to acquire SFRs in the the Mid-west and other markets that bring a good cash flow and possible appreciation over time, and grow my portfolio from there. I'd like to stick with B neighborhoods (maybe C+) to mitigate the vacancy issue that many C/D neighborhoods bring.
I am entertaining a purchase in the Linden Heights neighborhood of Dayton, OH (SE part of the city). Can anyone tell me how would you classify this neighborhood?
Also, if anyone can give me info of other B neighborhoods in Indy, Columbus, BHAM or other, similar markets, I would greatly appreciate it.
Thanks a million in advance for any advice!
Linden Heights ranges from D to C+, and a little B-. It really depends on specifically where you are in the neighborhood. I've had rentals there, with the expected results depending on which part of the neighborhood they were in.
@Ginger Jones I don't know that neighborhood very well, but are you looking to buy something turnkey or something that needs work?
Thank you, Darrin for your response. I had a hunch that might be the case.
Larry, I am looking for turnkey properties in markets that provide a good cash flow in B neighborhoods. Think of the usual suspects in the midwest and southeast. Any insights would be appreciated. Thank you!
@Ginger Jones Even more important than the market choice, is the choice of the team you work with. I suggest your due diligence includes a visit to the area, meet those you are considering working with, and tour neighborhoods and their rehabs. See first hand what you might be buying before you close on your first deal. Also I think B neighborhoods is the way to go as well.
Thanks Larry! 100% agree. I have spoken to some Turnkey companies and crossed several off my list... I am planning to visit the markets and do exactly what you're suggesting above. Nothing replaces first hand experience and verification.
Hi Ginger! Linden heights and North Riverdale are good C+/B- places to hunt for a rental with just a few easily avoided spots of D. Shiloh and Kettering are slightly better B neighborhoods with all having a lot of mid century modern architecture.
My approach has been to bring a freshly rehabbed SF houses to rent with attention to curb appeal and springtime rental rush. Click on my name for info including current available property from the 1920s, 1950s, and 1960s. When I sell these turnkeys, I defer to an excellent independent pm. They have a one stop shop with customer service that would beat most turn key providers.
The current market - they are in somewhat short supply. They are sold at a sweet spot in the rental cycle and command a premium because of that. Good luck and contact me if I can be of help.
Hey Ginger, I am curious as to what your budget for B class neighborhoods in the turnkey arena is? 80k+? 100k+?
I lived in the Dayton area for many years -- I student taught at nearby Eastmont elementary. If you fly in to check out the 'hood be sure to have breakfast at the Hasty Tasty Pancake House. It's been 30 years but my best friend rented a cute little house in that area. I'd buy rentals there if I was still in the area.
@Justin Stamper my budget for a B area would be 80-100K.
Thanks, @Gordon Starr , I’ll check out your listings and will be in touch.
Like the people above said it really depends on which street in Linden Heights you are buying. There are some great pockets that could touch B status, mostly it will be a C neighborhood with some pockets being D areas.
When you zero down on a specific property please let me know. I just passed my Real Estate Licenses test, waiting on my Real Estate License to arrive and when it does I'll be happy to assist you where needed.
Thanks for the responses. I ended up passing on the Linden Heights house after speaking with the local police department about crime stats.
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