Turnkey Rentals in Youngstown Ohio

13 Replies

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.

Hey Nate!  What is a ridiculous Cap rate and why would anyone want it?

@Nathan Bibb

 I'm in CA and I own 3 rentals in YT that I've never seen and I'm looking to buy more soon. They key is a good team as I kind of got screwed in the beginning but now that I have a great manager/handyman things are running smoothly and I am getting good cash flow on ultra cheap homes. 

It's nice to hear a fresh perspective about Youngstown from someone not on my payroll since it seems so few people are investing in the area for whatever reason. Oh well, more properties for us. Good luck in your ventures, I hope it goes really well for you. Heck, maybe we can even do some business together one day.

@Sheri Ulm

I remember we messaged each other last year. If you would like to see what types of properties we are getting, message me your email & I'll add you to our buyers list.

Who does your management?

Regarding your comment on so few people investing in the area, you're right. Working on changing that now that I'm in town

So is anything good going on in Youngstown since Youngstown S&T closed?

Hi Nathan, you should start a blog/vlog to chronicle your journey.

@Nathan Bibb

- I agree, you should start a blog.

@Sheri Ulm

- I am also curious who you use for management/maintenance? What parts of town are your rentals in?

Youngstown is a small hidden gem, especially if the rate of population decline really slows down, which obviously is not as bad in the suburbs as it is in city limits. That's what I get hung up on. I feel like you can make money here, but need a desirable place to compete with all the options a quality renter has- do you both agree?

@Jen Kurtz

I have one in the North Heights area, 1 in the Buckeye Plat area and 1 in the City of Campbell. I use an independent handyman. And yes, I agree.

@Nathan Bibb

 What does your town have to offer for investors? If you really want to grow your business and network with more people on here, I would suggest getting the pro account. You can than advertise deals you have in the marketplace.

TurnKey-Reviews.com

Is another site to get familiar with and post your business. Good luck!

This post has been removed.

I have now almost 10 years experience in Youngstown as a landlord. Finding reliable and affordable  people to rehab the houses has been the hardest challenge. I have 29 Houses here now. 

Just invested in my first property thee! Let's see how this turns out

Hey Nathan,

I'm a new investor in the San Diego area looking to create some cash flow and that sounds like an amazing opportunity. Are you still interested in investors and if so what kinds of properties can you company provide?

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