All Forum Posts by: Darrin Carey

If you want a good independent assessment, you should to go to someone different from the person you're buying from. Especially when you are new to an area. There is an inherent conflict of interest even when everyone is being totally honest.
Even when I'm the one selling the property, and I know I've told a buyer everything I know, I may not know everything. I always tell people to go do their own research.

B/C is subjective, I've seen past turnkey companies have very "optimistic" assessments of an area.

I'll see if I can think of someone who can give you some help.

Which part?

• The contractual interference with existing private contracts (aka leases)?
• The lack of attorney/court costs for the landlord?
• The "emergency provision" without an expiration date?

Once again, government overreach into private affairs.

I shifted all my properties to a PM years ago. Even though they don't do it 100% the way I would do it, it's definitely been the better option for me. The time savings was well worth the trade off.

I've sold all my multis and only keep single families now. Turnover was one of the reasons.

@Hannah Wontrop I'll post local meetups here on BP when we start them again. In the meantime, feel free to reach out and I'll see who I can get you connected with.

@Michael Beall I'm a little jealous of you being in K town. But to get to your question....

Those are generally good rental areas although some specific ones will be higher or lower than your target. Those properties do cashflow well, I have several like those.

Riverside drive is still dicey, I'd be hard pressed to call it any better than a low/mid C in the best areas, D in others.

The biggest factor you'll need to get right is having a great PM. That will make or break you when you are out of the area.

There are some wholesalers I can connect you with, but most of them are probably the same ones @Chris Tabanico knows as well.

If you want to chat sometime, feel free to give me a call.

@David Uzhca as @Chris Tabanico said, Dayton and some of the surrounding areas can be street by street as far as "good" vs "bad". You'll have to see which areas meet your goals. I'm in Dayton, Trotwood, Fairborn and other areas. Each different area meets different goals for me. As my goals change over time, I'll change the areas I focus in.

Even areas seen as "high crime" can be a good investment if it meets your need. I have a few properties in those areas, and they cashflow very well. Of course, I don't expect those to appreciate.
For every area, there is an investor whose goals, or even limitations, make that a good area for them. You have to find yours. The areas that meet my goals may or may not be the right areas for you to meet your goals.

@David Uzhca, only some auctions allow interior visits and/or inspections. If you can get in, Great! If not, it's a judgment call. Based on the exterior, and maybe peeking through windows, what can I guess?

Worst case, assume it needs everything, and bid accordingly. You'll get fewer deals, but you'll minimize the financial risk. 

Alternatively, only bid or make offers on properties where you can do your full due diligence. The spread is narrower, but there is less financial risk.

@Anthony Catoni Sounds like your friend is contacting Handymen, not Plumbers or Electricians. There are several in the Dayton area that are investor friendly and can easily handle large jobs.

@Shlomo Koheler The same Title Company can handle Sub To, Land Contracts, and more. I've had them do those for me as well. It's one of the reasons @Chris Tabanico and I and others use them.
I've never asked them to get a Lease Option signed though, I always took care of that myself.

@Kristopher Kyzar PC Title Pros on Wilmington Pike in Kettering in my go to for Closings.