All Forum Posts by: Daniel Brody

Like Mike said -- efficiency and exit. Also, a lot of the apartment complexes in the area are quite overvalued at the moment. So, that's probably affecting the % return you're seeing. They're still trying to cash in on 2022 prices but they're late lol.

On the other hand, a lot of the time, the SFH's in Youngstown are in desperate need of major updates or repairs, which is part of the reason they're so cheap yet bringing in a good monthly return... even more so in the more "bad" neighborhoods. I've been watching a lot of out of state investors get in too deep, though, thinking they were getting slam dunk deals and then ending up selling 6 months later or their rental sitting on the market for months and decreasing in rental price week after week. There's one in particular that paid $65k for a house that shouldn't have sold for more than $50k, and it's been sitting vacant because (1) the rent was originally way too high, and (2) the "remodel" was an absolute botch job. But I digress.

I recently bought two properties on the east side which I'm remodeling at the moment. I solely invest in SFHs in Youngstown and surrounding neighborhoods, and I'm local to the area with lots of connections so I've got a finger on the pulse of anything that happens property-wise. I'm also finishing up my real estate license next month so that I'll have easier access to MLS properties rather than waiting for an agent to let me in. If there's anything you need assistance with, or perhaps want to offload a property in the future, feel free to reach out.

Efficiency and exit...managing 20-50+ units across the city can get unruly and have limited exit options.  But, passing up 2% for 1% is a big spread and most would stay the course with the 2%'ers.