Disney Cruise inspiring OOS investing in Dayton OH

[Jeshua Patrick]

So my wife and I went on a Disney Cruise last week. While on our trip we met a family from the Dayton OH area who, in addition to owning an HVAC business, owns 20 doors in that area. We are in the Charlotte NC area and this market is extremely tough right now for finding and acquiring cash flowing properties. I grew up in the midwest and have heard that there is a lot of opportunity for cash flow in the midwest, with OH having several hot spots. A quick scan of the MLS made it apparent that there are lots of small multis both residential and commercial that should meet the 1% rule and quite possibly as much as a 2% rule. I am looking for recommendations on tools that are beneficial for market research or reputable people in that area that can help me verify market rents, locate value add properties, and provide reliable property management. I would also appreciate recommendations on non-recourse lenders as we will be starting with retirement assets that are being transferred into a self-directed account soon.

[Caleb Heimsoth]

@Jeshua Patrick

1. I would recommend looking around Charlotte within 1-2 hour drive for cash flow before looking out of state or in Ohio

2. I would recommend not directly owning real estate in a self directed IRA. Lots of rules, expensive non-recourse debt and lots of ways things can go wrong. If you get a self directed ira, stick to note investing.

I don’t want to rain on your parade but you need to do a lot more research before you go buy a likely junky property in Dayton Ohio... as your first “deal”.