Investing in Cincinnati, Dayton, OH?

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I too am a fix and flip and buy and hold investor in the Dayton suburbs. Have 3 flips going currently and have 110 rental doors.Areas like Beavercreek and Centerville have good schools and are mostly A neighborhoods. Slow and steady appreciation, but only yield about .75 percent in terms of rent to purchase price.Areas like Kettering, Riverside and Xenia are more B and C neighborhoods. Schools not as good and appreciation less likely, though it's been quite good the last year or so. 1% rule easily met here. I avoid Dayton proper like the plague.I have had amazing luck. Great tenants with little turnover. We rehab our properties to one grade above the neighborhood and screen our tenants carefully.I have 80 percent of my properties in the B, C areas for maximum cash flow and 20 percent in the better areas for cash flow with more upside on appreciation. It's worked out great, but I did have excellent timing starting in 2008.More difficult market right now as a seller's market has emerged in the last year or so. Still a dream compare to California. If you'd like to PM me, I can turn you on to my realtor who's a local star.

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@Sasha Josephs I've been researching the Dayton, OH area looking to get into the market there soon. Lots of different class of neighborhoods very close to one another. I know @Darrin Carey and @Ozzy Smith are well-seasoned veterans in Dayton and can give a lot of good info since they're local. This thread might answer a few of your questions to get started: https://www.biggerpockets.com/forums/88/topics/501229-out-of-state-real-estate-investing-in-dayton-ohio

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I moved here is 2005, with the intent of staying for 3 years. I'm still here because of the real estate investing.Generally, I agree with @Gary L Wallman, except for 1 point. I don't avoid the City of Dayton; however, I am selective there. There are good investment areas in the city, and some that are "rougher".There are still a lot of great opportunities here for cashflow properties. Right now, it's harder to find fix and flip deals, but they are still out there.Thanks @Eric Mielke.

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@Bryan Blankenship Thanks for the info Bryan! That's encouraging to hear.

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@Sasha Josephs GREAT areas, but as @Darrin Carey said, you have to know the neighborhoods well to truly take advantage of the markets here. Dayton is really undervalued, but that's mostly because there are pockets that are golden, and a few streets over, it's D Class. If you know the ins and outs, you can easily get some cashflow going!Cincinnati is also good, but again, it's knowing the suburbs and desirable school districts that can make or break your investments, just like anywhere else. I've been all over the country investing and flipping, and, ultimately, settled back here because of the markets, just like Darrin! :)

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Thanks Eric for the shout out. I agree with what @Darrin and @Gary said earlier only now I'm the third style of Dayton investor. I almost never invest in rentals outside of Dayton City limits. If I'm looking for cashflow the city is where I find it to be the best. I'm actually getting decent appreciation bc of the influx of investors who are rehabbing things but I don't know how long that will last or how much of the prices are inflated. Either way I'm in it for the cash now so it works for me. I also have several partnerships with OOS investors and that's where we invest. If I want flips or appreciation I'd probably look elsewhere. Like Gary said though no need to leave my comfort zone and like Darrin I moved here 17 years ago with intent to only stay a year but I'm still here only bc of the RE.

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I agree. Dayton is 19% undervalued based on historical house price-to-local-income relationship. Price performance has not been particularly strong though, as just 5% above its 2006 'fair valuation' level. Cincinnati is undervalued too, though a better price performer this cycle.

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@sasha@Eric I am in the Cincinnati Ohio market lets network www.webuyhousesintheusa.com

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@Bryan Blankenship would you mind sharing some of the desirable neighborhoods in Cincinnati where you invest? The information would be greatly appreciated.Thank youChris Garzino

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@Gary L Wallman Thank you! I'll send you a message.