All Forum Posts by: Gordon Starr

@Account Closed

that streets a bit rougher than most in the area. Try to grab something on a hilltop around here. Nice houses and patience in tenant selection are golden here. Down by the river in riverdale is best

There are far better than Bruce is knecht, one street over and it's a world different. Take a cruise down Kathleen and see different architecture on each street you cross! 

its an emerging C area with lots of  well built smaller homes. Very rapidly appreciating over the last two years, vacancies are down and prices and rents are up. Largely deleveraged, most homes sell in distressed state. They haven't until recently been worth enough to flip. Buy, hold, get rich

@Sarah Kartsher - I just read a pretty good article on the dayton market 

http://www.noradarealestate.com/blog/dayton-ohio-real-estate-market/

There are a lot of really good reasons to buy here. I really like the emerging areas in Dayton proper where you can still get solidly built distressed properties from the 1920s, 1950s, and 1960s that can be turned into really nice littler homes. The city prioritizes their massive blight reduction efforts on the areas along the main avenues people commute to work on. They want people to have a pleasant dive to work. So, along or just off these main drags is a very good bet. If you want more of  B class area, I like huber heights, kettering, and the northern part of shiloh. B minus, I would suggest southern shiloh (zip 45405 north of seibenthaler ave), and Belmont. C plus - north riverdale over by riverside drive, eastern hills, or south park. Do you want to go lower?

Its improved a ton in recent years. The northern part and over by riverside drive I'd give a b minus except along main. The southern part and up by main is a bit poorer. Piontview and main area is pretty rough, though.  Excellent stock of really well built smaller homes and multifamilies throughout the area. Fully rehabbed homes rent to really good tenants. I have been making great returns here since 2013. It's actually a beautiful and rapidly improving area, especially near riverside drive.

Or, you could do like I did.  Contribute to the employer 401k enough to get a full match. Then when enough is available, borrow the downpayment from the 401k to buy your first investment, A house hack multifamily is what I bought. Then when you leave the company, cash out the 401k and sink it all into rei. I signed up for the irs installment plan at that point. Good luck, Gordon

I am most worried about baby boomer dominated market segment. A and B classes. Look around n if almost everyone is stretching to afford a 30 year mortgage, but they are gonna be dead sooner than that.. if everyone overpaid for cheaply constructed, oversized housing units just to show off their great schools - but their kids are out if school, I worry. Seems like the demographics favor more affordable housing wherever you find it.

I don't believe this is accurate. Your map shows Cuyahoga is not the tenth worst in ohio, let alone the us. Also, when you include the people who cannot be counted, who knows what you would find?

I also prefer an all cash position. It allows me to buy distressed property in Dayton, OH at auction or from government agencies for dirt then act as gc and do the rehab myself for example. If you want to do that, you must have cash  skill, time, smarts, take risks, and be present on location. To say, "do all that for me and send me the cash flow" at your price point...Yes, you sure can in a few places.. There is an emerging c class with high quality mid century construction in many midwest cities. Better move quick though because prices ar popping this spring. Nobody is building sf houses that size anymore and there is a huge demographic who needs them.