All Forum Posts by: Paul Amegatcher

Originally posted by @Derek Diamond:

@Gordon Starr @Paul Amegatcher @Ozzy Smith

I have bought in Vandalia and I seem to be getting good tenants and decent cashflow returns without too much headache.  I am curious what you all think of that area.  Are there better places I should be checking out?

Vandalia ranges from solid B to solid A. Its a good location if you buy right. You can also check out Huber Heights, Englewood, Clayton, Kettering, Centerville and Beavercreek.

Originally posted by @Keith Howard:

Any advice from the 'owner' perspective?
I'm the condo owner who filed bankruptcy listing the lender and the property. The last time I spoke with the lender, they advised they have closed the account and will only accept a settlement offer. I still live in the home and have repaid any past due property taxes and HOA assessments. If I decide to go through a company buying properties, am I allowed to sell the home for any financial amount or is processing a quit claim deed through a seller my only option? Thanks.

 Is the mortgage still attached to the property?

Most likely C or C-. Some areas are even D's.

@Julia Skripko I'm based in Ohio so I don't have an attorney in New Jersey that I can recommend. I would suggest that you contact some of the New Jersey based people on bigger pockets for recommendations. In regards to a list of zombie foreclosures, it does not exist. Most zombie foreclosures are found after finding a vacant property and doing some basic research on the owner.  

@Mauricio Montenegro

Study each market carefully before spending your money. Look for reviews of turnkey providers and property managers. Last but not least please do a physical visit to the area to verify what you are being told.

@Jordan Kalk

I would focus on trying to acquire a duplex or a small multifamily (less than 4 units). You can aquire these in your personal name with an fha loan or a low down payment conventional loan. This will allow you to house hack and save money for future down payments.

Welcome to Biggerpockets. I personally started with a live in REO and finally turned it into a house hack. I believe that house hacking is the best way to get into real estate. If you combine house hacking with a fixer upper property you can create a lot of equity and free living once fully renovated. House hacking allows you to start saving a tremendous amount of your income, which can be used for future down payments on investment properties. Feel free to contact me offline if you ever want to discuss house hacking or investing in the Dayton area.

@Aku Thomas

I would walk away. $145k is too expensive for the rents received. I would aim for a $100k to $110k purchase price. Also request that the seller fix all the noted issues.

Welcome to BiggerPockets. Dayton has GDREIA, which is the Greater Dayton Real Estate Investors Association. I believe they meet first and third Wednesday of each month. Also @Darrin Carey runs a local meetup that meets on the 2nd Monday of each month. Since you are in the south suburbs you may also check out Cincinnati investor clubs as well. The next local meetup is scheduled for next Monday at TJ Chumps in Fairborn between 6pm-9pm. Hope to see you there.

@Matt Kitchen House hacking is an awesome way to start in real estate. Im not sure where you are currently living in the Dayton area but there are many advantages to house hacking. I will combine that with a live in fix and flip to generate both equity and income. Dayton is a great place to live and invest. Good luck to you and hopefully I will see you at one of the Dayton investor meet ups.