All Forum Posts by: Ozzy Smith

Do you want to get started in RE with buy and hold rentals, or would you like to start doing it but wish there was a way to be completely hands off?  Are you tired of dealing with PM's that just don't perform or wish you had one that treated your property like it was there own investment?  If so this is for you.

I'm offer the opportunity to partner with someone that will own the property with you and still provide you with 13+% ROI and $300+ per month cash flow (that's your side of the investment after mine is already taken out and listed on the analysis as MISC expenses). I currently have a deal under contract and here is what I propose;

1.  I put in my own money so that I have skin in the game

2.  I will get the repairs done to make it rent ready with my crew that already work for me on my own personal portfolio (They are employees not subcontractors... I control the cost and work flow which is always cheaper and faster)

3.  I handle the ongoing maintenance and Property Management duties (I do this already for my rentals for 3 years)

4.  We own it together so the better I can make it perform the better we both do so I have incentive 

5.  You get to own 65% of the deal which makes it a very nice return for you

6.  With the right partner I can do quite a few of these in a year.

I have my own portfolio of rentals and rehab projects and have done very well with them and now I'm looking to scale.  I have been wholesaling a lot of these types of deals lately due to lack of funds to take them on 100% by myself and I'm tired of letting the good ones get away so now I'm looking for a like minded partner that has the same vision as I do.  

I'm providing everything someone needs to make an informed decision.  By following the link below you will find the analysis, rental comps, sales comps, virtual tour video detailing the repairs, and a link to my website where you can see what we have done in the past.   THIS DEAL MUST CLOSE BY FEBRUARY 5 so only serious inquiries please.  I need to make a move on this very quickly or I will simply look to wholesale it as I usually do.  If you are interested in this deal either as a partner or as a wholesale deal check out the numbers and send me an email.

See The Full Details Here

Ozzy

I would like the communities opinion on partnerships for buy and hold strategies.  I have been approached by several out of state investors asking if I would be willing to partner with them on rentals.  I am a local investor in Dayton OH and it's no secret that we have some of the best deals anywhere in the country from a cash flow standpoint and our point of entry is very attractive to say the least.  I have been doing some wholesale deals for a while trying to raise cash to continue buying and holding my own properties that I have had great success with in the past.  I self manage and do my own rehabs but am looking to scale.

The Question....

1.  Do you find it beneficial for someone like me who has been having success on my own to partner with someone from a distance that could bring cash and credit to the table and speed up the process, or keep it slow and steady?

2.  Would you advise someone who is looking to get started investing OOS by partnering with someone like me with a local boots on the ground experience or to try and do it 100% on their own and just use contractors, and PM to retain 100% ownership?

I'm looking for feedback from anyone that has experience with this or that may have looked into it as it is something that has been proposed to me on several occasions and I'm not sure how I want to proceed.  Thanks in advance.

Ozzy

@Larry Wilson and @Andrew K. I’m a local investor in Dayton and have a decent amount of experience and knowledge in dealing with out of area Investments. If you want to talk or get a local opinion on how I’ve done it personally drop me line and I’m always willing to share

@David Mejia

I invest full time in Dayton and have a good knowledge of the area and could refer you to some good pm. If you want to chat let me know 

We have a local meet up that gets together the second Monday of each month 

I personally live and invest in Dayton and wouldn’t want to invest anywhere else. If you want a local perspective drop me a line and I’d be happy to give you my two cents 

Looking to sell my equitable interest in a 3 bed 2 full bath home that needs light rehab in a solid neighborhood. Projected rents are $800/m with cashflow over $400/m and over 12% ROI. Mostly cosmetic repairs that can be completed in about 2-3 weeks worth of handyman type of repairs. Take a look at these numbers and contact us today to put it in your portfolio because it won't last long.

*** If you don't see me comment later in this thread that it is gone that means it is still available. All the details are posted here for you to make your decision.***

ARV $50,000

Purchase $23,000

Rehab $18,000

Rent $800/m

ROI 12.77%

Terms - Cash only pruchase, close by February 9, $1,000 ernest money and POF with signed contract.

See The Full Analysis Here

This house is already under contract... if would like to be added to our short list for similar properties with similar ROI please send your contact info to me directly in an email and I'll be sure to send them as they come available

@Ethan G Stine

I personally love investing in Ohio.  I have a few in Dayton and 1 in Cleveland that I own from a distance and have done very well with it.  

not only is this scenario possible, it is the norm in Dayton OH.  I have a few of these in my portfolio and have worked with many others that have them as well.  It has nothing to do with the quality of tenant or the quality of the house if that is what the local market is.  It's simply economics...the mid west is not the coasts and like any other market we have good and bad properties and good and bad tenants but the numbers don't lie, and they are very profitable if done correctly just like any other part of the country or investment.