Buying & Selling Real Estate Discussion

User Stats

56
Posts
10
Votes
Darsh Patel
  • Boston, MA
10
Votes |
56
Posts

Youngstown, OH - Buyer looking for a consistent/bulk seller

Darsh Patel
  • Boston, MA
Posted Oct 27 2022, 10:44

Hi, 

I work with a real estate company that is looking to expand its footprint in Youngstown Ohio and Cinicinnati, Ohio. We are looking for a real estate company or group that can provide multiple properties in these two areas for purchase. The purchases would be in cash and we would look to purchase regularly not just looking for a one off deal. Does anyone here know of a company or investor who has that selling bandwidth? 


Regards,

Darsh

User Stats

160
Posts
114
Votes
Anthony McEvoy
  • Investor
  • Champaign, IL
114
Votes |
160
Posts
Anthony McEvoy
  • Investor
  • Champaign, IL
Replied Oct 27 2022, 13:18

Hello @Darsh Patel - Did you try the agent finder on this site?

User Stats

56
Posts
10
Votes
Darsh Patel
  • Boston, MA
10
Votes |
56
Posts
Darsh Patel
  • Boston, MA
Replied Oct 27 2022, 18:07

Hi @Anthony McEvoy. We are looking to build a transactional partnership with someone rather than having an agent send us properties. We have found it to be hard to scale with having to review properties sent 

User Stats

55
Posts
41
Votes
Alexa K.
  • Rental Property Investor
  • Youngstown, OH
41
Votes |
55
Posts
Alexa K.
  • Rental Property Investor
  • Youngstown, OH
Replied Oct 27 2022, 23:42

Youngstown is already oversaturated with landlords.

User Stats

2,393
Posts
2,101
Votes
Nicole Heasley#2 Market Trends & Data Contributor
  • Lender
  • Youngstown, OH
2,101
Votes |
2,393
Posts
Nicole Heasley#2 Market Trends & Data Contributor
  • Lender
  • Youngstown, OH
Replied Oct 28 2022, 10:03
Quote from @Alexa K.:

Youngstown is already oversaturated with landlords.


 Especially OOS landlords.

User Stats

128
Posts
109
Votes
Lori Williams
  • Developer
  • Youngstown, OH
109
Votes |
128
Posts
Lori Williams
  • Developer
  • Youngstown, OH
Replied Nov 12 2022, 13:40
Quote from @Darsh Patel:

Hi, 

I work with a real estate company that is looking to expand its footprint in Youngstown Ohio and Cinicinnati, Ohio. We are looking for a real estate company or group that can provide multiple properties in these two areas for purchase. The purchases would be in cash and we would look to purchase regularly not just looking for a one off deal. Does anyone here know of a company or investor who has that selling bandwidth? 


Regards,

Darsh


 Hi Darsh.

It's hard for an OOS landlord to find much support by local folks in Ytown because we have a ton of OOS landlords who are, for lack of a nicer description, slumlords (or they insist on trying to make the houses into rehab houses, which means we have to go down to city hall, fight them and get them shut down).

They look at Ytown as cheap, disposable properties, they don't bring them up to code, they rent to the first crackhead with 500.00 in their pocket, 3 mos later the crackhead has skipped out without paying rent, damaged the property, and the landlord just rents it out to a similarly situated tenant, rinse and repeat.

This makes the neighborhoods worse and keeps our property values down further than they should be. 

For example, I buy in a very tiny neighborhood exclusively. It's like 1 street. I have multiple California investors and several other out of state investors on this little street. None of their properties are up to code, most of their tenants are awful. That makes it very difficult for me, because I invest heavily in my properties and rent to professionals. And no one wants to pay premium rent and then live next to hillbillies who are loud, messy or have 5 large dogs that they let run loose.

TBH, most of the locals investing in Youngstown (OK, maybe not most, but many) are trying to make the city nicer, because it's their city. They see the properties as a lifelong investment, they want the property values to go up, they want the properties taken care of, and the OOS landlords have made this difficult. OOS landlords have not been good for the city, and it all boils down to they don't care about the city and seem to view it as one giant hood. They are looking for D properties, and they are F landlords.

Of course, your company may not be like that. I just wanted to explain why perhaps the feedback you were getting seemed maybe less than what you were hoping.