All Forum Posts by: Kent Hall

@Robert Ellis it seems like Norwood is really promising, but it can be a bit block to block. Have you seen, or do you know anyone who knows, which specific neighborhoods are good to target for SMF?

Thanks all for your feedback. 

@Benjamin Vail What type of properties are doing STR with in Hyde Park?

@Stephanie Stewart I hear you about making sure that long term rental would work as well. Ideally a target property would be a solid long term rental with the hopes of cashing in on some upside from AirBnB. What types of properties do you have in Norwood (Single, small multi, larger multi)?

@Jake Walroth I agree that OTR is looking "saturated" and also priced out for someone purchasing now (would have been great to have bought something there 10+ years ago). I am thinking about Norwood less as a vacation short term rental and more for business folks coming to the area and needing a place to stay for a couples weeks. Being right by the lateral it is easy access to 71 or 75 so folks needing to get up north or into downtown could have pretty easy access to most of the greater Cincinnati area.

Hey everyone, sorry if this has been asked many times before. I did a quick search, and found some people who said they had borrowed against their TSP for real estate investing purposes, but I was wondering if I could pool the hive mind for some more details on the process.

When borrowing from the TSP do you arrange it through the TSP or is it a 3rd party lender with the TSP as collateral?

I keep hearing that you pay yourself the interest. What is the amoritization time frame? How do you pay yourself back (is it a monthly or bimonthly payment, is it taken directly out of your check like a withholding? What kind of monthly payments were you looking at when borrowing the full 50k?

When the money is out of the TSP I am assuming it is no longer acquiring the gains/losses from sitting in its fund. Is that correct?

Can this process be repeated? As in, once you have paid yourself back, can you (and if so when can you) pull the money back out again?

Thank you so much for the time. 

What is the current environment for short term rentals in the Cincinnati area?

Anyone know of any upcoming legislative moves that would help or hinder AirBNB landlords?

Are there any parts of town that are more or less friendly to short term rentals (I am specifically considering the Norwood area)?

Thank you very much.

I had a good experience with M & M Title Co. They were flexible and willing to work with me even though my geographic location offered some significant challenges.

Hey everyone,

This question is oriented toward the Dayton, OH investing community. Being a UD alum I love the Kettering and Oakwood area. I have noticed that there are a quite a few of the all brick 1950s quads that have been sitting on the MLS for a little while.

I was wondering if any of the investors who operate in this area (or other parts of Dayton/Cincinnati) had any thoughts on why they haven't been snatched up, especially with the seemingly insatiable demand for small multi-family rentals.

I don't know any specifics on different lenders, but in general I thought that a doctor loan was used for owner occupied residences. It should work if you are planning on moving into one of the units of a duplex, tri, or quad.

@Slocomb Reed Have you seen any push back from tenants or increased vacancy initiating RUBS? In your experience are there parts of town where that is more or less likely to be a deterrent to potential renters?

@Brandon W. Get with @Zac Rosson for multi family investing in Dayton.

Hey Cory,

You are analyzing deals and making offers, so you are getting more knowledgable all the time. Keep plugging away.

I am a novice, but the numbers that I use in my calculations (or educated guesses) are:

8% vacancy

5% cap ex

1% (of the property value annually) maintenance

I know you and I have talked off line and we are in very similar situations (stationed overseas with ties to the the Dayton area and trying to break into the investing back there). From all I have heard these last few month it seems like the Dayton market is pretty saturated with investors (both in and out of state) right now. This, coupled with low housing inventory, seems to be driving up the prices on properties. 

I would say one big paradigm shift that happened for me recently is that I have focused a bit less on trying to find a great cash flowing property. I don't want to buy something that looses money, but, I really like what I have seen in the development and progression of area, especially the stretch between Dayton and Cincinnati, which has come a long way even since I graduated med school back in 2010. That is why I have started to care less about the cash flow numbers and instead look at whatever positive cash flow I come up with in my calculations as "buffer" while my hope is to rely more on mortgage pay down and hopefully (and I know some people will cringe - sorry) rent appreciation over time.

That change in thinking makes a lot of the properties quite a bit more attractive, although it is admittedly a less conservative approach.

Just keep on looking, you never know when the a good opportunity is going to appear in front of you so you always have be looking ahead and be ready to move when you see an opening.