All Forum Posts by: Mason De Vries

Hey I appreciate the response. I will definitely keep a look out for these things in the next rental I'm interested in. Thank you!

 @Caleb Brown

Thanks for the reply. This is very helpful info for my next purchase. I will take this into consideration and calculate the numbers to see if they still work with the repairs that need to be done.

Quote from @Andrew Syrios:

Generally, everything is negotiable so even if it's godawful, I would likely just ask for it to be fixed or compensated for. 

Thanks for the response Andrew. It seems a good amount of the properties I'm seeing are being sold "as is." Does this mean they won't fix anything? Because I asked my realtor if the landlord could repair some things and she said ""as is" means they won't do any repairs. Your accepting the property without any repairs."   I did negotiate a lower price though.

Drew Sygit.  Not sure on tenant defaults. But this tenant right now is 100% subsidized by an agency, which is nice for the cash flow. Hoping the tenant can stay for years. 

Just wondering what are some of you total no go's after you receive the inspection report back on a turn key property you have an accepted offer for? There seems to usually be something that needs fixing or updating when you buy it but how do you know when it's too much? I recently had an electrical panel that needed to be replaced that the inspector missed which ended up being $1,100. The A/c unit didn't work. Inspector couldnt test it out due to it being winter. These are some spendy things that were missed. Any opinions on things that would make you want to get out of the contract? Thanks! 

Quote from @Pat Quaranto:

Is this an out of state turn key? Or did you have to put some work into it? If it’s out of state I’d love to hear more about how you went about getting it inspected, if you built a team, etc. I live on Long Island, so investing out of state would be easier point of entry in terms of cost 

It is out of state turn key, I believe. I had the realtor I used to buy my house here in Washington refer me to someone in the same company as him over in Dayton, Ohio. I asked my realtor for a PM referral and I talked the PM and he said it sounds like a decent deal and I researched inspectors online and the inspector went and checked it out and he said it had good bones and he said he'd buy it as a rental property. The inspection was in the cold months so the inspector was unable to try out the AC unit. When my maintenance dude went to the house this summer, he turned on the breaker to the AC and it sparked at him so we replaced the whole panel which wasn't cheap. And a couple other things the maintenance guy said needed to be done. So far, we have put $2k into the house for maintenance issues.  After being on this site, I think I would definitely do thing differently. My realtor didn't seem to know much about rentals. I'd ask my pm company about their opinions more and look for a better deal.

Quote from @Drew Sygit:

What property Class is it?

 It is in a C area, on a map some local agent gave me

Quote from @Samuel Diouf:

Fairview is a solid location to invest in. The price to rent ratio is great and the neighborhood is next to the Miami Valley Golf Club.

Are you looking to purchase another SFH or move into MFHs?

 Hey, that's good to hear thanks for the info. I'm looking at either sfh or mfh. Just trying to save up some cash before the next purchase and build up the emergency fund for this current property first before the next purchase. Whatever cashflows best is what I'm looking for. I would like to get into mfh here in the future. The house I bought at 2421 Elsmere ave Dayton, OH only cashflowed after I put 25% down on the house so I had to put a big down payment down. I need to be better at running the numbers on the my next house to better cash flow without putting my so much down. 

Quote from @Min Zhang:

Hi Mason, I have a neighborhood grade guide my team has been working on in Ohio. We regularly update it. A lot of investors prefer to stay in the C neighborhoods because that is where you get the best cash flow. Let me know how I can help!

Do you have a neighborhood grade guide for Dayton? If so, how do I see it? Would be great to see where my current property is located in it as well for future purchases. Thanks Min.

Hey all, Im new to real estate investing and I'm interesting in single family homes up to 4 plexes right now. I live in Washington State where prices are pretty high so I'm looking at out of state investing and Dayton, OH has caught my eye. I bought one single family home in Dayton, OH in March. I'm interested in knowing if anyone knows good neighborhoods to buy rentals in. The house I bought is in Fairview neighborhood. Any thoughts?  Anybody else doing the long distance thing that could give me some pointers? Thank you.