Is Dayton, OH a good market for rental investing?

Question

Hello all,

I am just dipping my toe in the water of real estate investing (or preparing to take the scary head first dive). I recently heard the David Greene Podcast on long distance investing and I love his model of building a strong team that can work with you in out of state locations. This is especially appealing to me as I will soon be moving to Japan for a couple years and so all of the states will be out of state for me.

I am curious about Dayton, OH specifically for a few reasons:

1- I went to school there (Go Flyers)2- I have family in the area and may be moving back to southern Ohio at some point down the road3- It seems to me (and maybe I am wrong about this, so please correct me if I am) but having a large military base in an area would make the market good for rentals, and Dayton has a large Air Force Base

My questions are:

Does anyone have experience with rental properties (single family and up to quads) in the area?
If so, is this a good market for this kind of investing?
Does anyone have any great contacts - specifically real estate agents and property managers - in this area?

Thank you all so much.

Account Closed · Answer

Hi Kent,  We manage rentals in the Dayton area, SF as well as multi.  I agree with Ozzy it is a great place to invest. I also invest in real estate here as well as manage for other people  If you want to talk about the Dayton area just let me know.

Darrin Carey · Answer

Dayton is early in an economic growth cycle. Jobs are growing. Housing stock is in good supply for landlords. There really are not enough GOOD rental properties to keep up with the demand. Vacancies for WELL MAINTAINED properties at the market rent are almost non-existent.Overpriced and under maintained properties will sit and languish, or get low quality tenants.

Larry Fried · Answer

@Kent Hall I agree that Dayton is well positioned at this time for buy and hold rentals - still early enough in a turn-around cycle.

Ozzy Smith · Answer

@Kent Hall

Glad to see you are taking the plunge... come on it the waters warm lol.  You are correct in thinking that Dayton is a great place to invest.  I am a local investor here and I personally have a few SFRs and a duplex in Dayton and am doing very well with them.  If you would like to chat I could probably point you in the right direction with the things you are asking about and I'm always happy to help.

Kent Hall · Answer

@Casey Maeda - I sent you a PM, lets exchange notes.

I also wanted to thank everyone who has weighed in and helped me, I know this is very delayed, but better late then never... right?

@Darrin Carey and @Ozzy Smith Thank you both so much for taking the time a couple months ago to drop knowledge on me when I was JUST JUST starting out, I know I am still green, but I was practically neon fluorescent green when I talked with you guys. Also, Christina has been helpful along the way answering a few questions.

Account Closed Thank you also for taking the time to give me some insight into the management world in Dayton.

I closed on my first property about a month ago, so heres hoping it will be a success and lead to even bigger and better things.

Thanks again everyone.

Larry Joshua · Answer

@Kent Hall I am in Korea and have been looking at Dayton as well.  I also went to school there (Go U-D) and think that it has several things going for it at the moment.  PM headed your way.

Chris Jurgens · Answer

Congrats! Please update with numbers, experiences, how you found your property etc! Would love to hear!

Ozzy Smith · Answer

@Kent Hall no problem... that's what we are here for.  If there's anything else I can help you with let me know.  Congrats on the purchase, I'd like to know how it turned out.

Casey Maeda · Answer

@David Gotsill thanks for the heads up on the monthly BP meetup! Since I am based in Tokyo I will certainly look into it! Too bad you already left Tokyo, would of been nice to meet face to face! Curious to know more about why you are targeting Huntsville - will send you a pm! cheers

David Gotsill · Answer

@Casey Maeda & @Kent Hall : hey fellas - I just left Tokyo myself, had been there for a few years.  If you're in the Tokyo area, there is a monthly BP meetup, you should look into it.  Helped me to make some connections for investing both in Japan and back here in the US (targeting Huntsville, AL at the moment).

Good luck!

Is Dayton, OH a good market for rental investing?

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