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Updated almost 12 years ago, 02/13/2013
Auston is Hot, Dayton is Not is that an opportunity?
I have always been a contrarian (not a speller)but the danger is to take a position too early.
While my Texas friends are raking in the money in their market they are taking that market out of my reach
Just as investors here in the Hampton's have bid up the properties to a point where investing for income is not viable investors in Texan are seeking rapid appreciation I am seeking income now. Would not mind some appreciation.
Currently I am buying properties in Dayton OH , a specific example is example is a 3 bedroom one bath with central air ;408 Sheridan ave Dayton oh 45403. I am all in for under 20k and getting 588 sec 8 rental from a tenant who loves the property.
How would my Texas friends evaluate this market that has been shrinking in population that has had above average unemployment and crime has Lost its manufacturing base.
I am betting it has hit bottom and will slowly appreciate over the next 5 to 10 years as the city finds its way.
How would you compare it to the latest Hot market in Auston. Do you see opportunity here or would investment in Auston give me more bang for my buck?