All Forum Posts by: Chris Nordella

Anyone have any Dayton, OH property manager suggestions? 

Does anybody have any Dayton Ohio Property Management suggestions?

USREEB @Beth Davis

Closed on one, other closes next Tuesday. It actually appraised for $4500 more than I bought it for and the other just appraised for $5500 more than I bought it for. Nice 6.5% bonus right at closing. 

Thanks. Good luck!

My KC property has also gone up almost $10k in the first year value wise which I really wasn't expecting any real equity return on TK but it was a nice bonus. 

Yes, after all the numbers it's about $338 and $275 a month. One has a 3-year lease already in place. One was basically taken down to studs and brought back up. The other had full interior rehab, new HVAC, New Water Heater, New Appliances and New Roof. The inspection came back clean. The one that was taken down to studs will be complete in a week or so and I'll go through the same inspection and repair request. I also spend zero of the income and it all just sits and builds in an account. I just treat it as savings and the account earns 1.8% interest on top of the COC return and only us the funds in case of repairs.

@Akash Jain

Thank you. I analyze all the properties the same, regardless of area. I was still looking in Kansas City but hadn't seen anything I liked. Sometimes the prices are higher than what is listed on standard MLS but you also need to realize that most of these properties have been completely gone through with most if not all major mechanicals replaced. Being that I'm not local. I don't want to deal with rehabs or major repairs, hopefully at least not until years down the road. That's why I like turnkey style. It's not for everyone and definitely isn't the best for sweat equity or BRRRR. If I lived in the Midwest, it's not the way I would do it though. I'd go the BRRRR route for sure.