All Forum Posts by: Nathan Bibb

@Brent Coombs Hello again mate! I heard you've still been working with Terry, glad that worked out for you guys.

@William Frantz I would recommend talking to a state chartered bank such as Home Savings or Talmer Bank & Trust. The state chartered banks are much more investor friendly & will be more flexible on products & options. Lisa at Home Savings in Poland is a great resource.

"Handyman Fixer Upper". Throw it up on Craigslist & get the highest down payment you can for it. Sell it to them as rent to own. They are responsible for cap x, repairs, taxes, & insurance. Sounds like it may be a little past livable condition so depending on who you can find, you may need to put a little cash into it. I just looked at comps on the MLS & I personally wouldn't put a dime into it. On a positive note, days on market for properties in the 5-10k range are roughly 30-60 days so somebody is buying these things.

@Darin Johnson

Hey neighbor! Welcome back to NE OH. Make sure to check out the Akron/Canton REIA. Find Mark Waide & tell him you heard about his group on BP. Since someone mentioned check out 3 local REIA's I strongly recommend coming to the Mahoning Valley REIA. We have a hard money lender coming by this month & another awesome local investor speaking. Check both out! I don't know Akron/Canton's site but the Mahoning Valley is www.MahoningValleyREIA.com Read up on my profile & contact me any time. Best of luck!

@Paulo Gama

Youngstown is a great real estate entry market. Depending on where you buy, entry prices are quite low. Our local REIA is the Mahoning Valley REIA.

www.mahoningvalleyreia.com

@Sheri Ulm

I remember we messaged each other last year. If you would like to see what types of properties we are getting, message me your email & I'll add you to our buyers list.

Who does your management?

Regarding your comment on so few people investing in the area, you're right. Working on changing that now that I'm in town

I have created 2 nicknames for Youngstown Ohio since I moved here last February. "Little Detroit" & "Cap Town". "Little Detroit" refers to how hard the real estate crash hit this town, similar to the way it did in Detroit. It crippled sections of the city & left properties empty & decaying. "Cap Town" doesn't refer to the fact that you may be shot walking down the wrong street. I'm referring to the ridiculous Cap Rates that are available in Turnkey Rentals in this town. Fact is Youngstown has been facing hard times for a very long time but people still live, work, & raise families here. 

Buy in for investors is incredibly low & rents are decent which drives ROI thru the roof. The key for this to work is having a team in place. Property management, a capable construction crew, & consistent marketing & acquisitions are what drives the ability to produce turnkey rentals for out of state investors.

As another investor from San Diego just messaged me last night, there used to be a lot of this in Youngstown but it seemed to dry up around 08 09 after the crash. Seems like the bulk of local property management companies went under & only a few survived. Probably due to being over leveraged from their own investments but who knows?

Fact is I couldn't find this turnkey rental business anywhere in the area so I moved here to build it. I moved here from Pacific Beach in San Diego to do this if anyone ever questions my resolve. Everyone thinks I'm crazy, & they're probably right, but in 5 years I can build a solid real estate portfolio while building a company to manage it, creating a very comfortable passive income stream before shoving off "Back Back to Cali Cali". I'm sorry, I couldn't resist.

House to Home is our company & the umbrella name for 2 separate entities, House to Home Construction & House to Home Properties. We are a full service construction company, real estate investment company, & manage our own portfolio of rental properties. We would like to network with other investors who can see the value in what were doing & who may be interested in what Youngstown has to offer.

Surrounding markets include towns such as Cleveland, Pittsburgh, Akron, Canton, & Warren Ohio.

@Joe Cantanzriti You're exactly right. House to Home is @Shawn Tiberio 's company & I began working with him several months back. He just recently took over as the president of the MVREIA. Make sure to stop by in Jan & say hi!

Join the mailing list & check out the calendar.

www.mahoningvalleyreia.com/

Meetings are always the 2nd Monday of every month at the Fifth Seasons Banquet Center in Mineral Ridge. All the info is on the site. Call, email, text, etc anytime. All my info is on here 

Hi Joe,

Always glad to see some Youngstown buzz happening on BP! My partner & I are actively flipping & buying multifamily units in the area. We have a flip going on in Poland as well as Howland, in Warren. Our company is House to Home Properties.

Have you all heard of the Mahoning Valley Real Estate Investors Association? It's a 30+ year organization & we just "rehabbed" our website. Make sure to attend our January Kick Off meeting. This is the local REIA all these podcasts & articles tell you to attend. Plus the food is always awesome!

You can register for a free visit on the website:

http://mahoningvalleyreia.com/

Hope to see all of you there! 

Hi again @jen kurtz . Heard you were hanging out with Stephanie the other day. I added you to our buyers list, per your request :)

Hello! This is my first post in the BP forums, mainly because I'm working on my first buy & hold deal. I'm looking at a duplex that I will be paying cash for but need funding for the rehab. I need about 10k at a reasonable interest rate. I've been looking at the Lending Club (which I heard about in BP podcast #25) & been trying to find local investors. I have not been able to find local investors yet so I was hoping some of you fine people could recommend some funding ideas/websites/clubs you know of or have experience with.

Thanks in advance for the info & I'm looking forward to your suggestions!

Nathan Bibb

Youngstown Ohio