Out of State Investor: Looking at Dayton

[Cody Vandermartin]

Hello All,

Looking for some thoughts and advice on the Dayton, OH area or some other similarly priced markets.

Some background, I am a first time, haven’t ever purchased a home other than my primary residence, want to be real estate investor. I want to generate a cash flowing portfolio that over the next 10 years will allow me to transition away from my current job without worries about the next one. I live in the California Bay Area and to say the least, my market is not affordable or even at best cash flowing. Thus, pushing me to look out of state.

Being a Military member and having some familiarity with Wright Patterson AFB, it led me looking at the Dayton market and realizing that homes are much more affordable there than in my home state. Knowing interest rates are crazy right now and cash flow would be minimal anywhere without an extremely large down payment, I have thought about and am fortunate enough to think about purchasing an investment property 100% cash. This of course would need to somewhere like the Dayton Market as my available cash is around $150k. So, my questions are:

1. 1: Does anyone have any thoughts on the Dayton market and the projections for the foreseeable future?
2. 2: Does purchasing a house 100% cash seem like a good strategy for my available cash or is there something else I should be thinking about?
3. 3: Lastly, what neighborhoods and areas should I be looking at in Dayton or the surrounding area?

Thank you!

[Peter Dorinsky]

Quote from @Cody Vandermartin:

Hello All,

Looking for some thoughts and advice on the Dayton, OH area or some other similarly priced markets.

Some background, I am a first time, haven’t ever purchased a home other than my primary residence, want to be real estate investor. I want to generate a cash flowing portfolio that over the next 10 years will allow me to transition away from my current job without worries about the next one. I live in the California Bay Area and to say the least, my market is not affordable or even at best cash flowing. Thus, pushing me to look out of state.

Being a Military member and having some familiarity with Wright Patterson AFB, it led me looking at the Dayton market and realizing that homes are much more affordable there than in my home state. Knowing interest rates are crazy right now and cash flow would be minimal anywhere without an extremely large down payment, I have thought about and am fortunate enough to think about purchasing an investment property 100% cash. This of course would need to somewhere like the Dayton Market as my available cash is around $150k. So, my questions are:

1. 1: Does anyone have any thoughts on the Dayton market and the projections for the foreseeable future?
2. 2: Does purchasing a house 100% cash seem like a good strategy for my available cash or is there something else I should be thinking about?
3. 3: Lastly, what neighborhoods and areas should I be looking at in Dayton or the surrounding area?

Thank you!

 Hey Cody, if you're looking for cash-flowing deals with a low-entry point Dayton has potential. If you're looking for a market with strong appreciation projections over the next ten years, I'd say a market like Columbus offers more potential due to the surge of companies expanding in the Columbus market. Ultimately, where you invest is going to depend on your investment strategy.