All Forum Posts by: Darrin Carey

@Jason Fay Once the ROI gets to good to be true, it's time to run. Most the midwest has better returns than the coasts. As @Jered Sturm said, in Cincinnati, Dayton, and others, streets can vary dramatically from block to block, and from street to street, especially in the city. It's less dramatic in the suburbs.

You absolutely have to take a few days to visit the area and look around. There's nothing like hearing gunshots in the background to remove any doubt about an area. I moved to Dayton a decade ago, and had to learn the areas one at a time. It's still amazes me sometimes when I find a great looking building, and then see the neighborhood it's in.

The biggest thing to determine is how much ROI you want, in exchange for how much drama. Then again, even the nicer properties in the midwest have a pretty good return compared to the coast.

Since you said you don't want a project, I'll extend that and assume you don't want dramas either. Come visit, and pick a nice property in an A or B neighborhood. Good return, minimal drama.

This Dayton real estate networking meetup is a recurring event on the 2nd Monday of every month.

@Alex Holt You know about the Cincinnati REIA, you really need to go. Make sure you meet and talk to at least 3 new people each time, and reconnect with the ones you've already met there. (Say "Hi" to my wife @Christina Carey and I too.) Also, check out the subgroups on specific topics. The smaller size helps you get to know people better.

A mentor or mentor course can be helpful, or a waste of time, depending on what you do with it. I see far to many people buy, but not apply. (that rhymes, lol). 

And, of course, take advantage of all the resources here on BP,

Yes, there will be meetups on Dec 14, and Jan 11. Anyone and everyone is welcome.

Last month, we had a former employee of the Ohio Division of Real Estate join us.

 @Ed Moreno 

There are a very few 100% Hard money lenders. However, they are generally outrageously expensive to use. MUCH better terms (and Profits) are available when you put 10%, or even better, 20% into the deal.

Transactional Funding can cover you if you need to do a double close.

Wholesaling is legal when done correctly, but a lot of people are doing it wrong and doing it illegally.

@Scott Mitchell I'm happy to talk with you, and give you some specific recommendations, and some to avoid. Matching you with the right ones will be specific to the types of properties and the types of areas you are interesting in investing in.

Give me a call, I'd be happy to talk to you and help you narrow your options. I am not an agent, so I am not an option there.

HI @Brad Mays, welcome to BP from a fellow Dayton investor. As you've found, there's a lot of great info here.

We have a local meetup in Dayton, you are welcome to join us in person.

https://www.biggerpockets.com/forums/521/topics/24...

To your success!

PS, I promise you will make mistakes, we all do.

@Tony Deal You end up having to buy your own insurance. That much is obvious, I know.

There are hundreds of plans to choose from, unlike an employer who will only provided a few choices.

Depending on circumstances, the plan you get may cost anywhere from a few hundred, to a thousand per month. I expect there are others that may cost even more.

Just like mortgages, there are Health Insurance brokers. You can also buy a plan for your LLC, and cover yourself through there. I got some quotes for VERY basic coverage a couple years ago that were 100-150 per month. VERY basic, and before ObamaCare.

Many of us also set up self-direct Health Savings Accounts, and use the tax-free profits from there to pay for medical expenses.

@Ryan Provost That model is effective, but due to refi seasoning requirements, your pace can be restricted if you are trying to move too fast.

And last but not least, welcome to BP. It's a great site. if you want to meet some local investors in person and discuss real estate, health insurance, or anything else, go to this post. https://www.biggerpockets.com/forums/521/topics/247315-dayton-real-estate-networking-12-14-15

Get to know other local investors and landlords.

No formal presentations and no specific topics. Ask questions, start and join conversations.

You're encouraged to bring your deals and what you're looking for.

RSVP for location in Beavercreek.

Event Details

This event occurs monthly on the second Monday of each month.

Assuming it's in the local area, send some details.