Looking to invest in Dayton Ohio, does any of you have good insight about this city?

[Yu Jin Song]

Hi, I am looking to invest in Ohio, mainly in Columbus, and Cleveland, but recently Dayton, OH got my attention in terms of affordability.  I see many big homes available for sale with small price tags.  Specially the ones that needs updates or renovation.  I have never been to Dayton OH, and was wondering if it is good idea to invest in Dayton, OH?  If yes, which side or neighborhood would you recommend?   Thanks in advance for your reply.

[Remington Lyman]

Quote from @Yu Jin Song:

Hi, I am looking to invest in Ohio, mainly in Columbus, and Cleveland, but recently Dayton, OH got my attention in terms of affordability.  I see many big homes available for sale with small price tags.  Specially the ones that needs updates or renovation.  I have never been to Dayton OH, and was wondering if it is good idea to invest in Dayton, OH?  If yes, which side or neighborhood would you recommend?   Thanks in advance for your reply.

 I like Dayton, Ohio. I have family that live there.

A lot of Columbus developers are starting to do projects in Dayton because of its affordability 

[Robert Ellis]

Quote from @Yu Jin Song:

Hi, I am looking to invest in Ohio, mainly in Columbus, and Cleveland, but recently Dayton, OH got my attention in terms of affordability.  I see many big homes available for sale with small price tags.  Specially the ones that needs updates or renovation.  I have never been to Dayton OH, and was wondering if it is good idea to invest in Dayton, OH?  If yes, which side or neighborhood would you recommend?   Thanks in advance for your reply.

 ever bought a 100 year old home? know about knob and tube wiring? know about cast iron plumbing? familiar with plaster and lathe? you know about sewer systems made of clay? leave the old **** houses alone cheap doesn't mean good. if it was so good reits and institutions would be doing it. The average age of the number 1 single family home owner is greater than 2010 and less than 15 years old and they are now building homes new construction and owning them. the exact opposite of your strategy. older homes are the cheaper ones and unless you have experience I'd build in columbus close to downtown. same reason Toledo and Cleveland don't move the needle and there aren't 100 institutions in those markets. columbus is barely on the radar. 

[Min Zhang]

Hi Yu Jin! Welcome to BiggerPockets! I personally invest in Dayton, Cleveland and Columbus. COC in Dayton ranges from 10 to 18% and appreciation range is 3-7%. Feel free to reach out if you need any assistance!

[Samuel Diouf]

Hey Yu Jin,

I can send you a graded map of Ohio our team created.

[Christian Maher]

Quote from @Samuel Diouf:

Hey Yu Jin,

I can send you a graded map of Ohio our team created.

 Hey Sam, can you please send me that too?

[Engelo Rumora]

Quote from @Yu Jin Song:

Hi, I am looking to invest in Ohio, mainly in Columbus, and Cleveland, but recently Dayton, OH got my attention in terms of affordability.  I see many big homes available for sale with small price tags.  Specially the ones that needs updates or renovation.  I have never been to Dayton OH, and was wondering if it is good idea to invest in Dayton, OH?  If yes, which side or neighborhood would you recommend?   Thanks in advance for your reply.

Hi Yu Jin,

Dayton is a step up from Toledo but also comes with a step up in price.

The numbers make sense in many Ohio cities.

You make money when you buy and not when you sell.

So look for off market (We do a lot of direct to seller), negotiate hard, buy with cash and buy quickly.

Great deals don't last so you need to know the numbers very well in your target market.

I've flipped hundreds of properties in Toledo since 2014 and am glad to say that I know the market like my back pocket.

All I need is the address, scope of work and how much I can buy it for.

Quick access to AREIS, the MLS to run comps and "ka ching".

I know if it's a deal or not.

Immerse yourself in the market and become a market expert on the numbers.

Nothing comes easy mate and all good things take time.

If you are looking to build a rental portfolio in Ohio you have to build a big one.

Buying 1 or 2 properties and expecting a significant impact to your bottom line from a net-worth or cashflow standpoint isn't worth the risk IMO.

In all sub $100,000 markets, it's important to build a large portfolio as there is a high likelihood that you will have repairs and vacancy on 1 or 2 properties at any given moment.

Just my opinion and all the best.

[Yu Jin Song]

Quote from @Samuel Diouf:

Hey Yu Jin,

I can send you a graded map of Ohio our team created.

 Yes please send me the map.  Appreciated !!!

[Lee Ripma]

@Yu Jin Song

I do not specifically know the market but I use Vestmap's zipfinder to look for areas I would invest in nationwide. See the map below for what zip codes I would initially be interested in. Then I run reports on exact locations, these can be for any location, on or off market. I would for sure checkout the zip codes 45439 and 45409 based on my preliminary look if you want to be in the heart of the city but don't discount the suburbs especially if you are looking to invest in SFH.

As others have mentioned a house/apartment built in 1900, 1950, and after 1980 are very different in terms of capital expenses required. If I go into any market I'm ideally buying 1980 or newer. If I'm buying old then that it becomes very important to understand capital expenses for upgrading plumbing, electrical, fixing foundations, etc and understanding the properties current condition. 

I love out of state investing, just be careful with the location and the asset you buy! 

[Carlos Scarpero]

You better understand your neighborhoods first before investing. We have some areas that are super cheap because they are very sketchy. Find a good Realtor first before proceeding.

[Christopher Sineno]

Understanding what you are buying and in what neighborhood is important anywhere you buy, Dayton is no different. 

We have a lot for sale, we buy a lot, manage a lot of rentals and rehabs. 

Feel free to connect! I'd be happy to answer any questions you have directly - including best practices and connections within the market.