All Forum Posts by: Darrin Carey

@Andie W. Welcome to BP. Congrats on stepping into the light.

@Jacob Beemer It depends on which exit you choose. Since you are low on capital, a flip would help you generate more capital for your next project.

If you're going to do a flip, know your selling neighborhood very well. In Dayton, generally sales under 70K are biased towards landlords, and sales over 70K start trending towards homeowners. Cincinnati is similar.

In the meantime, check out the Cincinnati REIA, and our Dayton Meetup. Getting to know and learning from local investors will be a big help.

@Andrea Castor, I look forward to it. Just let me know for sure and how many.

@Zachary S. Congrats on Grad school and jumping in. Ohio is a great place for cashflow. If you end up looking around Dayton, I have a lot of good people here I can connect you with. A few in Columbus.

@John Horner You can buy from wholesalers with a loan, but it has to be done right. Most "wholesalers" screw it up. (I even persuaded my local credit union to accept an assignment of contract for a loan) From a lender perspective, It takes me 3 weeks or less to get a hard money loan done (a rental takes a little longer). Much faster than any SW Ohio bank I've worked with.

My properties are insured for cash value due to the replacement cost being so high. The cost averages $475 to $500 each per year. As @Christina Carey said, square footage will be a factor along with the market value.

@Kim Pollard for a property like that, you'll need to use a private lender or a Hard Money lender. A big factor will be what the property is worth after you finish fixing it.

@Mayank S. Thanks for the mention.

@John Tilstra I liked Dayton well enough that when I retired from the Air Force, I stayed here by choice. I could've gone anywhere.

For investing in Dayton, there's a large variety of neighborhoods to choose from. It allows you to find something that fits your style. As far as the 2% rule goes, that puts you in a C-/D+ area in Dayton. If you dig deep you can find some 2% deals in the C areas, though you'll have to do the updates.

For B neighborhoods, there are a few in the city of Dayton, but most are in the suburbs. As @Carly Young said, Kettering is one, there is also Huber Heights, Riverside, Vandalia and more. In B areas, 1.25% to 1.5% is a good range, depending on specifics.

There are a few good investor real estate agents in the area. And some to avoid.

You can also send your brother to our monthly networking meetup to get connected with other local investors. Dayton Meetup.

If you want to chat about specific neighborhoods or anything else, feel free to give me a call.

@Kim Pollard I will PM you the details.

@Jay Thoms I'm glad you had fun. I really enjoyed talking to you, and look forward to talking to you more next time.

I can help you with that cash out refi, or any rental loan. Having the properties in an entity actually helps.

We're in Dayton, close to Cincinnati. We lend all over, so we can cover you in Chicago too.

Give me a call and we can discuss details.