C to B neighborhood rejuvination questions

[Gordon Starr]

Hi All,

I've been buying single family houses and duplexes in the north riverdale neighborhood of Dayton, OH. I am highly localized along Riverside drive over to Kathleen ave in 45405. There were a lot of vacancies and some abandoned properties needing demolition back in 2012 when I started. The city demolished much of the less than worthless housing stock and recently someone bought up virtually everything from the MLS and the prices have doubled and rents are up 20%! So, I am not finding any killer deals like I used to! Not to complain, it is really a sweet win for most everyone around there except for squatters!

My question is how to continue with my expansion.. Do I borrow on my newfound equity (I carry no debt at present) and keep on buying despite the higher prices? How can you find/predict where these type of transitions will be occurring and buy into another area at rock bottom? Has anyone else had this experience and could share what has been happening?

Thanks!