Investing in Dayton/Kettering/Columbus Ohio areas

Dayton, Ohio
Medium-Term Rentals
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Investing in Dayton/Kettering/Columbus Ohio areas

Chetan Vihite
Member since 2023 · 6 posts · 9 votes

Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
Any feedback or realtors in the area willing to help, feel free to reach out.

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Evan HoppleBusiness Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2023 · 284 posts · 420 votes
2y

@Chetan Vihite
I invest in Columbus, a MTR near nationwide hospital would be a great option

[email protected]614-924-8151
Reafco Real Estate
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  • Evan HoppleBusiness Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2023 · 284 posts · 420 votes
    2y

    @Chetan Vihite
    I invest in Columbus, a MTR near nationwide hospital would be a great option

    [email protected]614-924-8151
    Reafco Real Estate
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    4Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    2y
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.


    I have been buying rental properties in Central Ohio for the past 6 years. Feel free to reach out if you have any questions.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    2y
    Quote from @Evan Hopple:

    @Chetan Vihite
    I invest in Columbus, a MTR near nationwide hospital would be a great option


     there are so many good ones too. riverside, mt Carmel, nationwide, OSU, ohio health, columbus has some great places for this strategy I just think personally LTR are a little easier to underwrite. try convincing an appraiser of your plan for an MTR. it's important to understand underwriting 

    [email protected]786-494-6766
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    0Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    2y
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.


     I think best thing to do is talk to agents and property managers. I'm not sure about dayton or kettering for MTR or why they are being compared to Columbus it's a much smaller market but I'd be happy to connect and chat further 

    [email protected]786-494-6766
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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2y
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.

    Hi Chetan, I personally love Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here. Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy). I really see Columbus Ohio as an extremely safe bet for the next 10-20 years. Plus, there's still so many positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!
    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9120 Reviews
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  • Mason WeissBusiness Member
    Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
    2y

    Hey @Chetan Vihite, along with your input from BP, I would review the saturation of MTR's in your desired markets. By going on Furnished Finder, Zillow, and Airbnb, you can see how many MTR's there are in a specific area, and see if the monthly rates are advantageous for a new investment. 

    [email protected]480-818-7745
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  • Zachary DealPro Member
    Lender · Member since 2023 · 464 posts · 425 votes
    2y

    I think evaluating the market to confirm demand is an important strategy. You can look at real estate investor Facebook groups. Sounds like there are lots of great hospitals but maybe checking into demand for other groups as back up would be useful 

    [email protected]
    1Reply
  • Chantal Thomas
    Member since 2020 · 30 posts · 8 votes
    2y
    Quote from @Remington Lyman:
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.


    I have been buying rental properties in Central Ohio for the past 6 years. Feel free to reach out if you have any questions.


    Hey there! I've looked over your website, and would love to connect. I'm in VA, and am looking at the Dayton and Columbus markets for MFH.

    1Reply
  • Dave Smith
    Member since 2023 · 4 posts · 2 votes
    2y

    Hello Chetan,

    My name is Dave Smith and Im a realtor and investor in the dayton oh market. There are tons of opportunities here and most people sleep on this small city. would love to talk to you more to see how I could be of service. feel free to send me a DM

    0Reply
  • Yiwei Cheng
    Investor · Cincinnati, OH · Member since 2023 · 139 posts · 81 votes
    2y

    I'm in Cincinnati, which is just 40 min from Dayton. I don't have any properties there but I heard from others who do STR there that South Dayton is good, especially close to UD.

    0Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.


    Greater Cincinnati is a good area for MTR/STR. Hospitals, creation museum, ark encounter, sports teams, etc. Let me know if you are interested in the area and anyway I can help!

    [email protected]859-443-4952
    Sam McCormack Realtor
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    0Reply
  • Steven Foster Wilson
    Rental Property Investor · Columbus, OH · Member since 2017 · 3k+ posts · 3k+ votes
    2y
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.

    You should try BRRRR investing, thats how I got started. 

    I agree with Columbus as a good BRRRR market

    My first BRRRRR was $300k, put $50k into it, refinanced, and got $90k back. I just refinanced again and got another $50k and it still cash flows $1800/month.

    Second BRRRRR cost $160k, put $55k into it, refinanced, and got me just under $200k back and cash flows $2000/month.

    Now Ive built a portfolio of properties, all while I started with just $500 to my name.

    Id recommend looking at the ratings on ohiorem.com/neighborhood-articles/ and it goes through different Dayton neighborhoods by grade.


    0Reply
  • Harrison Chow
    Real Estate Agent · Columbus, OH · Member since 2019 · 292 posts · 364 votes
    2y

    Hello fellow investor! It's great to see your enthusiasm for real estate in the Dayton/Kettering/Columbus areas. These regions offer a variety of opportunities, and many investors have found success there. Dayton has seen steady growth in its real estate market, making it an attractive location for real estate investors. It's considered a relatively affordable market with opportunities for both flipping and rental investments. Building a local network is essential. Reach out to local real estate investor groups or forums to connect with experienced investors in the area. They can provide valuable advice, share their experiences, and potentially partner on deals. 
    As for realtors and professionals in the area, consider reaching out to local real estate agencies, and you can also use online platforms to find real estate agents.
    I do contracting work and very familiar with the are you are looking for. Let me know if you need any help.












    0Reply
  • Tchaka Owen
    Real Estate Agent · Merritt Island, FL · Member since 2017 · 974 posts · 1k+ votes
    2y
    Quote from @Steven Foster Wilson:

    Second BRRRRR cost $160k, put $55k into it, refinanced, and got me just under $200k back and cash flows $2000/month.

     How are you calculating cash flows for these 2 properties? You'd have to be collecting close to $5k/mo. each. That seems high for Columbus. Are they multi-units?

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    2y
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.

     We recently started doing business down in Columbus and it's been great for us. Lot's of opportunity down there. We're used to Cleveland so it's a nice change of pace to play in a market with populations gains instead of losses.

    0Reply
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    2y
    Quote from @James Wise:
    Quote from @Chetan Vihite:

    Hey everyone. Rookie investor here, been looking into MTRs mostly in the Dayton/Kettering/Columbus areas. Just wondering if anyone else here has had experience or success there. Anyone investing in the area and how's the market currently?
    Any feedback or realtors in the area willing to help, feel free to reach out.

     We recently started doing business down in Columbus and it's been great for us. Lot's of opportunity down there. We're used to Cleveland so it's a nice change of pace to play in a market with populations gains instead of losses.


     what kind of deals? 

    [email protected]786-494-6766
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  • Chantal Thomas
    Member since 2020 · 30 posts · 8 votes
    2y
    Quote from @Sam McCormack:

    Greater Cincinnati is a good area for MTR/STR. Hospitals, creation museum, ark encounter, sports teams, etc. Let me know if you are interested in the area and anyway I can help!

    Hey Sam-any leads on property management?
    0Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y
    Quote from @Chantal Thomas:
    Quote from @Sam McCormack:

    Greater Cincinnati is a good area for MTR/STR. Hospitals, creation museum, ark encounter, sports teams, etc. Let me know if you are interested in the area and anyway I can help!

    Hey Sam-any leads on property management?

     Yeah of course I got PM's here for that

    [email protected]859-443-4952
    Sam McCormack Realtor
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  • Nick Karni
    Investor · Los Angeles, CA · Member since 2018 · 15 posts · 5 votes
    2y

    @Sam McCormack what do your vacancy rates look like look for MTR/STR in Cincinnati? Do you do any LTR there?

    0Reply
  • Sam McCormackBusiness Member
    Real Estate Agent · Cincinnati, OH/NKY · Member since 2021 · 1k+ posts · 833 votes
    2y
    Quote from @Nick Karni:

    @Sam McCormack what do your vacancy rates look like look for MTR/STR in Cincinnati? Do you do any LTR there?


    MTR/STR can change as you know. I would ask my MTR PM but I believe in Cincinnati for MTR you are looking at 20% vacancy. STR I am not sure off the top of my head. And yes sir I do. If you are interested in that in Cincy, shoot me a message!

    [email protected]859-443-4952
    Sam McCormack Realtor
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  • Nick Karni
    Investor · Los Angeles, CA · Member since 2018 · 15 posts · 5 votes
    2y
    That's great vacancy especially considering the higher cash flow. I'm primarily interested in multi-family LTR so Dayton presents better entry points at the moment. Definitely interested in STR/MTR. Need to learn more as I've been primarily LTR thus far. Will keep Cincy in mind!
    1Reply
  • Chantal Thomas
    Member since 2020 · 30 posts · 8 votes
    2y
    Quote from @Sam McCormack

     Yeah of course I got PM's here for that


     Sending you a pm. 

    0Reply
  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    2y

    We really like Dayton and Kettering but we're having a hard time finding cash flow in good areas. There are lots of really rough areas in Dayton and the numbers on paper say they'll cash flow, but you need to account for higher vacancy, turnover and turnover expenses that could obliterate any cash flow. So be wary of the $50k duplex and anyone trying to sell you one. That said, there is a lot of promise and opportunity in Dayton. I DO like it. But get yourself out there in person and partner with a Realtor like @Tyler Everidge who really knows the area and won't steer your wrong. Familiarize yourself with the neighborhoods so you know what you're looking at. The same advice goes for anywhere you're going to invest, really. Columbus is great, too, but higher price points (and also somewhat higher rents). 

    [email protected]
    3Reply
  • Nick Karni
    Investor · Los Angeles, CA · Member since 2018 · 15 posts · 5 votes
    2y

    Great advice @Bonnie Low. How long have you been invested in Dayton/Kettering? 

    0Reply
  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    2y
    Quote from @Nick Karni:

    Great advice @Bonnie Low. How long have you been invested in Dayton/Kettering? 


    We've been looking for over a year now but haven't bought. Funny story. We started looking in Dayton for LTR but an STR came on the market and the numbers worked so we made an offer and got it under contract. We flew back there during the inspection period and actually rented it as an Airbnb to try it out for ourselves. We got there late at night and discovered it had been broken into - the back door had been kicked in and the house had been damaged. We decided the neighborhood really wasn't great for STR and also discovered the house was pretty shabby and was going to need a lot more $ invested than we had budgeted for, which was surprising because it had good reviews. Anyway, we were able to back out of the contract since we were still in the inspection period. We've looked at a lot of properties and had one other under contract which also failed during the inspection period due to some significant foundation issues. Meanwhile, interest rates have skyrocketed and that's made it difficult to find anything that will meet our criteria and cash flow. If interest rates come down, I still think Dayton has promise.

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