All Forum Posts by: Gordon Starr

Currently offering this awesome 4/2 turnkey in Dayton 45405. Substantial cash flow, fresh rehab, and fresh 3 yr lease. 890 per month rent only 70 per month taxes.

Hi Ginger! Linden heights and North Riverdale are good C+/B- places to hunt for a rental  with just a few easily avoided spots of D. Shiloh and Kettering are slightly better B neighborhoods with all having a lot of mid century modern architecture.

My approach has been to bring a freshly rehabbed SF houses to rent with attention to curb appeal and springtime rental rush. Click on my name for info including current available property from the 1920s, 1950s, and 1960s. When I sell these turnkeys, I defer to an excellent independent pm. They have a one stop shop with customer service that would beat most turn key providers.

The current market - they are in somewhat short supply. They are sold at a sweet spot in the rental cycle and command a premium because of that. Good luck and contact me if I can be of help.

I am presently taking bids with no reserve, cash terms, and a minimum of 45, a buy it now price of 67. I am currently offering open bidding to end Thursday April 5 and the house will be available for viewing till Tuesday March 27!

This link should work better:

https://www.zillow.com/homes/30-Carter-Ave,-Dayton_rb/

@Gane Sugali I will e-mail you separately, but these pictures and other info are still on Zillow from the rental listing.

https://www.zillow.com/homes/30-Carter-Ave,-Dayton...

This was already a steal, now I am dropping the price to 45k! Come check it out before the tenants move in.. 820 per month, only 70 per month taxes!

North Riverdale, Dayton Ohio, 45405 When you can get deals this sweet, why buy elsewhere?

Hi Ben,

Your doing a smart thing by asking for opinions on this. Your cash on hand from the sale of your property puts you in a powerful position. Whereas 300k gets you one sf house in yellow springs, it could get you perhaps seven finished SFs, or four duplexes, or three quadruplexes in Dayton. That is without any leverage. You could also get a single huge apartment building like you were thinking.

The trouble with having it all in one building is that if something goes wrong with that deal, you have no other to sell. My advice would be to start small with something you can handle in your spare time. Find a PM that you are comfortable with. Get your feet wet. The A neighborhoods are overpriced for rentals in my view and the better B neighborhoods are increasingly becoming so too. Make a highly leveraged bet on these markets, and every month you may be in the uncomfortable position of trying to figure out how you will make the mortgage payments.

Charlie Munger famously wrote there are three ways to go broke: Liquor, Ladies, and Leverage. Say you leverage 70% LTV then the value drops 30% AGAIN! Then its Brrrr like in Brrrrroke or Brrr like its freezing out here. Whereas if you have four duplexes and no debt, you have no problem and cash flow around 3000 per month.

Food for thought..

Shiloh, North Riverdale, Dayton Ohio THAT is the place to invest for cashflow! Buy and hold for steady money and appreciation. Excellent local PM available!

Gordon

This is a mid century modern masterpiece with 29 windows. Rents for 890 with taxes only 70 per month!