All Forum Posts by: Gordon Starr

The biggest kind of crime you have to worry about is revenge crimes against you or your property. Happens alot when things aren't working out AND eviction is in process AND people are desperate. You need to watch these places somehow to make sure that combination isn't there at the same time.

@Roger Smart I've been eyeing that University Row - Princeton Heights area for years. It has many beautiful houses built up with big money long ago. By modern standards, they are not so big. I think owner occupants are also competing heavily for those homes. I see big gains in equity coming in over the last five years or so on top of rental income in the better parts. Previously c class, now I give it a low b. Here's to doing them up nice !;)

The big hitch in c/d is the high maintenance and potentially high turnover. You need a way in C/D to tackle those. If you do it yourself and earn the respect of the neighborhood, it boosts your standing. Do it right and your returns are beyond what ANYONE could get in B class. I use a my-house-beats-anyone-on-the-block approach, and a long term 3-yr lease with a verbal rent to own agreement. If tenants want to buy the place, they will take better care of it. I also visit past due tenants and hang around quite awhile to work out past due agreements. Its a little scary for everyone concerned at that point. So, if you want to be hands off or just a big puss, don't even try. Its surprising how little lawyers or property managers can do for you when things go south. YOU have to right the ship sometimes or its gonna sink!

@Courtney Jones Yes! I love it. Riverside drive has always been fun to drive down but anywhere near there is a great place to sink some capital in some really nice smaller homes. Deweese parkway, the museums, parks and the bike trail downtown are all so beautiful. Across the river is nice too, it just fell into disrepair for awhile there. I can't tell you how pleased I am personally as I moved into the seibenthaler compound in 2013 when things were really tough.

This is going to let out too much info, but I would probably turn to side B, just burn one with them and laugh at the bitches. Then ignore them. The police don't care either. Its almost entirely decriminalized in ohio.

In my area, the sale value zestimate is heavily influenced by auction sales. These are typically much lower than mls sales and are a very significant amount of them. So the zestimate is way lower than what you can get for a fully rehabbed place. There just aren't many comps for fully rehabbed places because they almost always go as rentals to investors who don't buy or sell listed properties. The rent zestimate is better, but also tends to on the low side of what you can get if you do a place up nice. 

Can you give some reasons why Dayton's population has been in decline since 1960? 

This data ends in 2010. It has been on the increase these last two years. Now that is, not way back when. Now you can still get excellent quality housing stock for cheap. Also, there is a whole economic sector, a small largely unreported small army rehabbing the place. Booming.

The base, beermakers, aerospace, specialty manufacturers, big auto manufacturing, two big universities, distribution hub, hospitals, high tech incubation. Dayton is incredibly diverse, it seems to me.

Many are moving back to in town locations. If you have a fully rehabbed place in town, you will get good tenant applicants. Not everywhere, just the better parts.

@Christopher sineno. I agree with you as I am in the riverside dr area. For me it was about the great quality smaller sf homes and duplexes. You can do really well with a 1950s quad 4x 1 bed brick buildings that scatter the area.

@Kevin Miller You may want to make sales of the fully rehabbed properties. Lately, these have been selling best it seem via brokerages who wrap them with pm services and sell to hands off investors, "turnkey". They could also go to owner occupants, no reason why not. Just relatively few people are providing them to MLS because not rehabbed properties are so much cheeper (and tend to go at auction or sell for cash to investors who can rehab). In my area Paul Renwick realty in with Bbrents make this turnkey model work. Their properties hit the mls listing in large numbers with the sale already pending. Here are some of their recent comp sales:

56 E Beechwood ave is a 1395 square foot 3 bed/1 bath. It sold for 82,900$ on 12/26/18 Advertised rent was 845 per month.

2330 Mayfair is a 956 square foot 3 bed/1 bath. sold for 83,000$ on 12/14/18. Advertised rent was 875 per month.

53 East Bruce Ave is a 3 bed 1 bath, 1501 sf house that sold for 80k. Advertised rent was 850 per month.

4045 Old Riverside Dr. is a 3 bed/2 bath 1224 Square foot house that sold for 80,000 in October 2018. Advertised rent was 835 per month.

140 E. Norman 1344 square foot house that sold on 1/4/2019 for 82,900. Advertised rent was 845 per month.

3827 Carroll Ave. is a 960 square foot house that sold on Jan 11 2019 for 76,900$. Advertised rent was 835 per month.

24 northwood ave. is a 1750 square foot house that sold in Feb 2019 for 79,000. Advertised rent was 825 per month.

116 Waverly Ave is a 3 bed 1 bath, 1115 sf house that sold for 87k on 3/12/19. Advertised rent was 950 per month.