All Forum Posts by: Candice T.

Thank you so much for this thread. I am starting out in real estate investing in Dayton now. I'm in the process of closing on my first property, a duplex in 45404. Where would one meet wholesalers? Do wholesalers only deal in cash? I want to start preparing for my next property now. Any advice will be greatly appreciated. Thank you.

 There are nuances but generally try to stay  in the green

https://www.google.com/maps/d/...

@Niv Nissim

Suggestion: Spend at minimum a week in market with your own boots on the ground. A realtor can help on the sell side but the incentive structure is not there for the buy side. I would pick one zip code and spend a week talking to as many people that live in the zip code as you can find. Comps are changing rapidly and its important to keep an eye on valid comps, not just "its within a mile." There are parts of town where property values can swing 20% just by crossing a street. 

Most out-of-state investors that get burned in Toledo do so (first) because property values are neighborhood-based, no zip code based and then (second) because they aren't setting foot on the properties and relying on contractor photos which often do not show the level of quality. 

There is currently a hedge fund that's been operating in market. They've masked themselves pretty well. They own a number of potential "flip" properties but bought wrong and are underwater on them, so they're trying to salvage those deals. To that end, be vigilant in your DD. They are hoping to find buyers who will make the same mistakes that they did. 

Check out Killeen Texas 

The initial owner (first lien holder) will get paid off first. No more monthly payments if there is a sale. Unless the loan is assumed