All Forum Posts by: Darrin Carey

@Brian Winters,
Semi Random thoughts and some answers for you.

The county will do formal arrangement to pay back taxes. They will try to limit it to a 3 year plan, but I've gotten them to agree to 4 years. Someone else told my they got a 5 year agreement. Honestly, if you just start paying them, they'll take that too. You can transfer title without having to pay all the back taxes.

Until 18 months ago, the county had a program for investors to get abandoned properties for about $2500. Nobody wanted this one. Of course, in 18 months, the overall market has gone up, and some areas in Edgewood are too. That thought may not be relevant now.

It sounds like the property may need to go through probate to get the title properly in your name. If you do, that may be a couple grand. If it's just a simple transfer/closing that should only be about seven hundred to do it right.

The Edgewood neighborhood can be touchy and goes from block to block. Some blocks are very blighted, some aren't bad at all. Some are actually getting a fair amount of renovation that doesn't show on google streetview yet. (I've funded some of those) I don't consider it a warzone, but the southern end could be close. I know it scares some people. Chuckles: that reminds me when I was looking at a house there. The neighbor came out to see what I was doing, with a very visible and accessible pistol stuck into his waistband. Turned out to be a nice guy, just concerned. He even gave me a lead on another house.
If the house is in the area that has not started turning around, you need to give some deep thought as to whether it's worth it. It's probably not at this point. If it's in the area turning around, it could be a decent value. You'll have to drive up and look around. Without the address, I can't be more specific than that.

Rehab cost wise I'd put it at a minimum of 25k if things went well, and as much as 40k, assuming it basically needs most everything. You never know until you see it. Always take a lot of good pictures, especially with your drive. It's a way to review every detail good and bad without having to revisit the property.

If you time your Dayton visit right, you can check out the local Meetup, it's on 6/14. https://www.biggerpockets.com/...
It's a great place to speak with other investors, and even find some contractors. If you're going to the Cinci REIA Thurs, I'll be there; come on by and we can chat.

A lot of you have asked me when the Dayton Meetup will start again.
The Covid restrictions are going away, and the Meetup for people investing is Dayton is back!

Every second Monday at 6pm in Fairborn.

Details for the next meetup are on the events page: https://www.biggerpockets.com/...

See you there!

Come join Dayton area Real Estate Investors for food, fun and beverages. Build your network and meet other Dayton investors. This is a networking event to make connections, share knowledge, experiences, strategies, and have a little fun while we're at it.

We promote teamwork with your peers to help everyone succeed.

Here you can learn something, find a deal, sell a deal, or find that agent or contractor you're looking for. We will do a buy-sell-trade during the event.

Oh, you should expect 60-70 people to be there. The event says it ends at 8pm, however, some of the real estate addicts stick around and close down the restaurant.

@Kristin Carter welcome to the Dayton investing community. When you are targeting a BRRRR strategy you'll find the refi is easier and you have more options when house value is 100k+. You can do it at lower price points, but the refi can be a bit more challenging. The area you invest in will have to match your personal goals and strategies. There is profit in good properties in every neighborhood, but they won't all match your current goals.

Watch for the local meetups, it's a great way to meet other local investors in person. Once Covid restrictions are lifted, I'll start posting them under the BP events again. For now attendance is limited. :-(

@Jacob C. welcome to the Dayton investing community. Aerial hit a key point with cashflow in the B areas. It IS harder to find. The B neighborhoods typically have a lower ROI but less drama than a C neighborhood, but you can have great or horrible tenants anywhere. You need to invest where it fits your personal goals and needs. I initially focused on C properties because there was better cashflow, and I was trying crank that up a quick as possible. Now, my needs have changed a bit, so I'm currently selling a couple C rentals and replacing them with B rentals, effectively moving my equity from one property to another where it better fits my current goals.

@Aerial Kreiner Congrats on the investments in Eastern Hills, I have one there also.

Watch for the local meetups, it's a great way to meet other local investors in person. Once Covid restrictions are lifted, I'll start posting them under the BP events again. For now attendance is limited. :-(

@Tony Gorokhovsky, we're restarting the monthly meetups in Dayton. We'll be posting them here on BP also. 2nd Monday every month.

If you want a good independent assessment, you should to go to someone different from the person you're buying from. Especially when you are new to an area. There is an inherent conflict of interest even when everyone is being totally honest.
Even when I'm the one selling the property, and I know I've told a buyer everything I know, I may not know everything. I always tell people to go do their own research.

B/C is subjective, I've seen past turnkey companies have very "optimistic" assessments of an area.

I'll see if I can think of someone who can give you some help.

Which part?

• The contractual interference with existing private contracts (aka leases)?
• The lack of attorney/court costs for the landlord?
• The "emergency provision" without an expiration date?

Once again, government overreach into private affairs.

I shifted all my properties to a PM years ago. Even though they don't do it 100% the way I would do it, it's definitely been the better option for me. The time savings was well worth the trade off.

I've sold all my multis and only keep single families now. Turnover was one of the reasons.

@Hannah Wontrop I'll post local meetups here on BP when we start them again. In the meantime, feel free to reach out and I'll see who I can get you connected with.