All Forum Posts by: Gordon Starr

You are so close with 30 and needing 45.. If you could just get it with cash, it saves big on closing costs, insurance costs, interest, time. Oh, so many things get easier if you are buying low dollar SF with cash. Could you buy distressed at auction, then fix it up yourself?

In you startup phase, the answer may be different than if you are rich and successful. Many take more risk during this phase for a variety of reasons. I carry neither property insurance nor do I have an llc. As a sole proprietor, there are benefits. It is EXTREMELY important not to be negligent if you are going to do that. Also, you generally cant leverage since banks won't allow you to fly uninsured!

Why not stay in Atlanta? Maybe you could buy a small multifamily and live in one unit. That's about the lowest risk you can have and I think the banks know it. Ohio is great - my home market. No way I would go OOS. You shouldnt either unless you have to.

Hi Cory,

There has been a small army of rehabbers and demolition crews at work in Dayton and in my view, the whole city should be given a class upgrade over where it was five years ago. The areas you mention, I consider them B class. For a good B-/C+ rental area, you could try 45405 north of around Basswood or 45403 the high ground hilltops and etc. For more c/c- areas look at where the city  and county demo crews are most active in the westwood area or fort McKinley. and it is changing so fast.. These areas were D class not long ago.

Is the market just too competitive now to be submitting low offers?

I would say yes, it is. Dayton proper was the last area to get hot, but now that it is above 50k for a good SFR in a decent C class area, the sales and people moving into town are more than ever. Forget the idea that C class doesn't appreciate. I would estimate the B-/C+ areas are up like 30% just this year.

@Stephen G. Wolff

wrote "is this a real post?" The answer is yes, it is. Now, what are you driving at? You appear to be giving me some flack but your question doesn't make a lot of sense. Are you very low IQ? I would hate to rip on you if you are really as retarded as your question suggests. lol

To do what you are trying to do, I made sure I got the employer match till I quit and cashed out everything (110 k). I did my own taxes, didn't report that I owed them a penalty, and signed up for the IRS installment plan. The interest is like 6% of whatever taxes you owe. That money and my own sweat was enough to get a do it yourself real estate business going. This was 2013 and it may take more money than that now. It wasn't that hard and my passive income is way higher than the 401k plan would pay even had I worked another 15 years.

@ My early experiences convinced me the best play would have been to marry the tenant. My wife didn't care and I had an awesome mansion hacked in triplex. Better to somehow keep it under one roof!

Someone probably suggested this, but.. Have you tried "tenant with benefits"? Polish the heck out of an efficiency or one bedroom. No cracks, flakes, color clashes. Make it awesome in regards curb appeal. Then just wait till she with the awesome chemistry comes to look. Then, mostly ignore here while you sweat out some improvements to the place.. If she still likes it, offer her the BIG UPGRADE!

 Caution: you probably can't raise the rent..

Hi @Christie Macias "crime heat maps.... the problem with that is"

There is another reason heat maps don't help. With a lot of C class, the dominant crime is theft. But in the really degraded areas, no one has anything worth stealing. Or, if people do get robbed, it doesn't get reported because they don't want to get busted.

How low can you go? Lot links offers the least expensive houses in the known universe at 750 per. You verify if it is vacant then lay your money down. Helps if you are big and around a lot. Or, you could use my finesse method which requires an ambitious woman. Unfortunately, my nanny went back to Mexico. Then two year wait, kind risk in regards sqatters. Trick is to keep frontloading spaced out over time allowing enough time to rehab before the next comes up. Main over to riverside drive.. An army of rehab guys has descended on the place. I live there myself and my rentals are there. Pretty cozy with my crew of weekend warriors who are all in there too!