All Forum Posts by: Michael Craven

Hi there! We've used a few different contractors in the Dayton area recently and can give you some suggestions. I'll message you in a bit.

-Michael

@Bryan Lopez Welcome to BP! I’d start by immersing yourself in books, podcasts, articles etc. There’s no need to spend much money on education to get started outside of a few books (Brandon Turner’s books on low money investing and buying rental properties are good places to start). Listen to all the BP podcasts and Real Estate Rookie podcasts. As you educate yourself, start networking with people in your area.

Other than that, start analyzing deals every day and when the right deal comes along, take a leap and go after it.

Hello and welcome to BP! I can't help you much with your specific questions regarding lending to those living outside the U.S., but I at least wanted to reach out and offer to chat about the Dayton area if you would like. This is primarily where we invest and I would be happy to give you my thoughts surrounding the area. Feel free to message me if you'd like!

I'd be happy to chat if my schedule lines up (or by phone if not)!

Welcome! Showing Springfield some love (I'm from Springfield originally). As was mentioned before, I'd start by reading the BRRRR book. It's a great place to start and then from there you'll learn a lot of by trial and error. At every stage of B-R-R-R-R there will be hiccups and obstacles when you are getting started. The challenging part for many is the Rehab, whether that is underestimating rehab costs (guilty) or finding reliable contractors if you hire out the work (also guilty). Other than that, I'd make sure you are eligible for financing or can partner with someone who is eligible. You can also call around to some banks to see which are lending to investors right now...some are not. Feel free to PM if you want to chat more!

That looks like a beautiful building! It's so nice to have some character in the units. And it sounds like you won't have to worry about some of those pesky Capex items right now. Enjoy the cash flow and congrats!

Welcome to the world of real estate and congrats are making the decision to get started! The Dayton/general Miami Valley area is a solid rental market and there are no shortage of small multifamily homes. I agree with that others have said that finding a good property manager will be very helpful to your success in managing multi-family homes. Your idea to invest where you are from first to get a feel for this business is a common first step. I did the same thing (in Springfield, OH) when I lived out of state because of the familiarity with the area and established connections and then branched out from there (Dayton and other areas). I imagine you can still do this even from out of the country! Feel free to reach out to chat anytime and thank you for your service!

@Jake Garrity Congrats I’m finishing this deal; the finished product looks great! And thanks for sharing the ups and downs of the journey!

Welcome to BP and real estate investing! I invest in the Dayton area (and live in Cincinnati) and so would love to chat if you have any questions about getting started in the area! Are you planing on buying and holding, flipping etc? Best of luck to you!

-Michael

@Adam Budgin I invest in the Dayton/Springfield area in Ohio and have enjoyed these markets so far. I also previously lived in Milwaukee and Indianapolis so would love to chat further about this! Feel free to message me.

-Michael