All Forum Posts by: Ozzy Smith

@Kory Sheldahl welcome to the investment neighborhood.  I'm local in Dayton and would be happy to talk shop and answer any questions that you have and give you some referrals if you like.

@Brandon Sturgill

Glad to see you didn't take my comment personal yesterday.  I agree with you 100% about needing local expertise and guidance.  When I first started out I had a little but not much and I got my degree in hard knocks for sure and it wasn't cheap.  I'd recommend to anyone starting out to partner with someone that's blazed the trail first and not worry about taking a little less profit on the first 2-5 deals... smaller profits is way better than the big loses that usually happen on the front end.  I've been approached by "newbies" before with that proposition and did it and it has worked out very well for both of us.  They got to learn, I got to buy more properties than I could have by myself which = higher returns for me, and we both grew our network.  I hear awesome things about Columbus but I just don't have a need to go there bc there is still plenty of deals in my little back yard of Dayton and my network is here (mainly my construction company and I have no desire to drive through Columbus EVER LOL).  I hope you continue to do well in our state capital and maybe one day our paths will cross and I'll buy you a drink for the rant I had yesterday at your expense.

Happy to help @David Uzhca. Remember focus on what you want, and don’t worry about what others have or do Bc at the end of the day you can only control you. 

I’m not sure why you are always hating on Dayton @Brandon Sturgill.  Making a claim that the actual returns in Dayton are different than the paper analysis is wrong. If you budget correctly and have the proper strategy in place the actual will match the paper. It’s just as likely to be the same outcome in any market. I’ve been investing Dayton for years and actually you are right - the actual is different than what I had on paper... I continue to get better than expected returns. I’m not sure why you think Dayton is a “volatile market “ so I’d really like to see that data in case I’m doing my investments wrong.  Again to advise on where a person should invest is completely misleading based on the lack of information provided in the original posted question. I live locally and don’t invest in the areas you suggested Bc the model I do and strategy I employ isn’t feasible in those areas. Sorry for the rant but I’m tired of seeing people (not just you) make blanket statements and assumptions about things that they are not exactly experts in without knowing the whole story especially when not asked just to further their own agenda. I’d recommend you start chiming in with comments and do networking with people asking about wanting to get started in Columbus rather than simply try and hijack every newbie that picks a market other than yours. If Columbus is as great as you make it out to be in most of your other comments I’m sure you will have no problem selling them lots of great deals.

BTW I don’t have a dog in this fight so I’m not going to try and push my agenda on this guy unless he asks a specific question that I’m knowledgeable about.... rant over

@Daniel Fridrij my advice would be the same given by those above not named Brandon and add watch out for ppl telling you how / where to do business that don’t know your business... especially when you don’t ask them

I have done Wholsaling myself as well as done business with others. The answer to your question is no. There are no rules that limit what someone can sell their equitable interest for just like you selling your car for example. If you want to sell a 2005 F150 with 300k miles on it for $80 you can do it if someone is willing to pay that amount. This situation is the same... you don’t have to pay their asking price but they can ask for it or sell to someone who will pay it potentially. 
my advice is don’t be concerned with how much they are making. All you should care about is how good/ bad is the deal FOR YOU at that price 

@Jake Pence welcome to the neighborhood. If you want to connect drop me a line

@Megan Wildhood

I can put you in contact with who we use and give you some information on them if you like.  

I'll throw my $.02 in on the Dayton market.  I'm not originally from OH but have been here for 17 years now and only stay bc of the RE.  Like @Andrew Weiner said, it's more about strategy and plan than market.  I've had cheap houses in lower class areas and done very well and higher class assets that I got crushed on and visa versa.  RE investing is everchanging based on local market conditions and the goals of the individual investor.  Myself personally don't invest now in the same neighborhoods and asset class as I did 3 years ago.  I'm further along the path now and have more knowledge, bigger goals, and resources than I did before.  That doesn't mean my previous investments were bad it just means they are different.

That being said, Dayton in particular for me, offers many opportunities. Some of the benefits are affordability for the new investor who wants great cashflow to get out of the rat race, is small enough to not be on the national radar per say, which lessons competition (where I started), and is still big enough to scale (where I am now).  I could not have done this in bigger markets because I wouldn't have been able to afford to get started.  We do have many areas that are appreciating nicely so as your strategy and financial situation changes we have the ability locally to adapt and still be much more affordable than the big cities.  

I hear all the time about our population and job growth being flat - that's true but there's a reason.  Traditionally we have been a very blue collar city and as those jobs decrease and that generation of worker dies off we are seeing tremendous growth in the Tech industry which is bringing in more high paying jobs.  When looking at the numbers from a distance you think nothing is happening but I believe that it's overall improving.  As more and more NEW jobs and younger workers come in I forecast that in the near future you will start to see what many others already know.... ACTUALLY I HOPE MANY OTHERS NEVER SEE IT - MORE FOR ME LOL!

@Sitaram Koppaka

No I am not OOS I live here and I self manage.  Yes everything I have available for rent is rented and never have a problem finding tenants.  I have continued to increase the rents over the years and and most of my tenants are long term with no issues.  As far as areas that are good in Dayton it depends on what you're looking for.  The suburbs offer higher appreciation but much lower cashflow.  If you're looking for highest amount of cashflow that's typically in the C class neighborhoods closer to downtown.  As far as that goes it now becomes very much a block by block scenario that's nearly impossible to know unless you're intimately familiar with the area and many parts of the city are changing very fast due to the amount of investors that are rehabbing so that answer changes constantly as well

@Sitaram Koppaka

I have been investing in Dayton for years.  I'm not originally from OH and have no reason to stay other than the RE.  I deal with a lot of OOS investors and also have a few partners from out of state that see what I saw - This is the place to be.  I've looked at lots of places across the country and believe this is the best place for my money and I know there are lots of others, based on the trends and sales, that think the same thing.