Moving to Dayton Ohio to BRRRR
Hi everyone,
I'm from AZ and moving to Dayton Ohio in a few months to start purchasing rentals. I have been in real estate for 2 years and AZ is just overpopulated now and has gotten expensive to invest especially when you are trying to BRRRR I know climate change is going to suck but It's going to be worth it. I'm looking to connect with realtors, all types of lenders, Wholesalers, and GC's. I have been studying the area a lot lately. I'm also trying to narrow down my Buy Box. The main issue I'm having with the buy box is the year build. Just trying to see what year builds I should avoid in Dayton as well as what type of build will i find in Dayton such as Brick, Stucco, Concrete, Wood etc... Any type of advice helps. Thanks.
@Leonardo Rodriguez
I suggest joining the Dayton Real Estate Investing Network on FB. They are a great group of local investors that share a lot of know how. There are plenty of referrals for all the people you are looking for. Good luck
Welcome! The climate will most certainly be different but not too terrible! Depending on what exactly you are looking for, you’ll find homes built across every decade of the 20th century. With some of the older homes, you often do run into other problems (often outdated electric and plumbing, for example). I typically focus on 1950s and after, but do sometimes consider 1940s multi families if it’s in the right location (Kettering and Oakwood has a lot of 1940s multi families). Ideally, even newer than that is what I look for. Oftentimes you will see purchase price increase as the age of the property decreases, too. So you’ll see plenty of affordable older multi families but they come with additional costs of course. I’m happy to chat further if you’d like, feel free to send me a message.
- Overlook Real Estate
- 937-207-5010
- http://www.overlookre.com
I suggest you should explore Dayton cash flow neighborhoods. Most of the city proper will cash flow. Areas that were built up with supersolid construction and smaller residences are particularly good investments. The boom years of manufacturing were when big parts of Dayton got built up and it was done by highly paid workers to very high (possibly unmatched) architectural standards. Now you can do Brrrr in the city proper but until just recently you could not. The price was too low on single family to warrant a mortgage. The credit market was locked up for a decade and the landowners are de-leveraged as a result. Brick and hardwood is very common and fantastic, but alot of the frame construction is also supersolid. The carpenters guild of the 1950s and 1960s is kind of legendary. The 1920s had cooler architecture and is plenty solid too. A lot of us investors, myself included, favor the north riverdale, southern shiloh areas (zip 45405) for these reasons. A solid play is to fix up places really nice, then be patient with tenant selection. So many of us are doing it, that the area is rebounding fantastic!
@Michael Craven Thanks for the info. I Put my box right at 1950 at first but just looking around some wholesale deals all over I kept seeing properties below 1950. So I didn't know If it would be a good idea to open the buy box. Also Just wondering any thoughts in Cincinnati. I was thinking of investing in both cities but I don't know much about Cinci. The only reason I'm Leaning to Dayton is that my in-laws lived for 4 years and they just know the areas well. But Cinci intrigues me a lot. Is it still affordable to invest there? Is it still a good BRRRR Market?
@Gordon Starr Thanks for the info. While doing research I also found north Dayton is growing areas around the airport are growing quickly a few manufacturing companies moving up there as well if I'm not mistaken. lots of building as well. I was told north Dayton is a little bit of a more blue-collar area.
Quote from @Adam Feick:
@Leonardo Rodriguez
I suggest joining the Dayton Real Estate Investing Network on FB. They are a great group of local investors that share a lot of know how. There are plenty of referrals for all the people you are looking for. Good luck
Thanks for that! Just joined looking foward to it
Cincinnati is definitely a good area to invest in, too. It’s bigger than Dayton and there is a good bit of revitalization happening in various neighborhoods. You have a mix of already boomed/young professional areas, established suburbs (A and B types), and up and coming neighborhoods. Plus, because of the universities, hospitals, and bigger downtown there’s the option for long-term, medium-term, short term, or student rentals (depending on the area) which is nice.
- Overlook Real Estate
- 937-207-5010
- http://www.overlookre.com
Oh and I didn’t answer this, but yes BRRRRing is still possible. Your biggest challenge is likely going to be finding the deals. Value-add deals aren’t easy to come by as prices have increased quite a bit. Off-market is still a good option, so I’d definitely recommend getting connected with some wholesalers in the area and other investor groups who may have some off market deals that fit your criteria
- Overlook Real Estate
- 937-207-5010
- http://www.overlookre.com
@Leonardo Rodriguez Welcome to the area!! I would love to connect with you, I own and operate CBG Construction Management. We specialize in General Contracting and Consulting. Message me and we can talk about your parameters.
Quote from @Leonardo Rodriguez:
Hi everyone,
I'm from AZ and moving to Dayton Ohio in a few months to start purchasing rentals. I have been in real estate for 2 years and AZ is just overpopulated now and has gotten expensive to invest especially when you are trying to BRRRR I know climate change is going to suck but It's going to be worth it. I'm looking to connect with realtors, all types of lenders, Wholesalers, and GC's. I have been studying the area a lot lately. I'm also trying to narrow down my Buy Box. The main issue I'm having with the buy box is the year build. Just trying to see what year builds I should avoid in Dayton as well as what type of build will i find in Dayton such as Brick, Stucco, Concrete, Wood etc... Any type of advice helps. Thanks.
Hey Leanardo,
I am a local realtor and investor. Excited to have you join the Midwest. I have some great lenders and people in the area that I have met over the years. I will send you a DM.
Leanardo,
I dont have much experience in Dayton but do a lot of investing in Cincinnati. I would highly advise you sharpen your skills on construction as the market we are in requires you to be able to take on any size of rehab to really make the BRRRRR work the way you want. With that said, i dont think there are any types/years of construction to avoid although I have ran into some investorss with preferences (bricks being the largest preference)
Hope this helps!
Quote from @Michael Craven:
Cincinnati is definitely a good area to invest in, too. It’s bigger than Dayton and there is a good bit of revitalization happening in various neighborhoods. You have a mix of already boomed/young professional areas, established suburbs (A and B types), and up and coming neighborhoods. Plus, because of the universities, hospitals, and bigger downtown there’s the option for long-term, medium-term, short term, or student rentals (depending on the area) which is nice.
Love it! Thank you very much for the info!
Quote from @Christian Martinez:
@Leonardo Rodriguez Welcome to the area!! I would love to connect with you, I own and operate CBG Construction Management. We specialize in General Contracting and Consulting. Message me and we can talk about your parameters.
sent you message give me call would love to connect with you
I am hearing about difficulties finding contractors to take charge of rehabs and major turns for investors in Dayton. If you can't do it yourself, I would recommend buying finished stock. That is something that is in short supply right now and shooting up in price. If you want that, I say you should buy now and buy hard in Dayton because this city proper has not seen a sellers since like 1969 or something ridiculous like that. There is not telling how high it will go. Better get the finished stock right away
I am always looking for top end construction, it makes the rehabbing job so much easier.. Particularly good are those homes that have not been modified and were super solid to begin with. I like to find elevated foundations, brick and hardwood, stone windowsills, built in wood features, a general overkill on construction materials... Dayton has some practically indestructible places built in the 1950s and 1960s.
Check out 3005 Kathleen Ave for a good example of decked out hilltop supersolid construction.