All Forum Posts by: Matthew Masoud

Wanted to know which cities do you invest in Ohio? I'm looking to purchase smaller MFs.  Cashflow is my main focus but appreciation is also important.  Thank you

 Yeah, that's what I have been thinking of. I don't feel there would be much for the property manager to handle, but at the same time, I am afraid that I may not know enough to make the move. 

How do you pay your pm? A rate per room, per guest, per issue, or a flat rate per month for the entire house? What if the manager is out of town for vacation? thanks

Hi Matthew, 

May I ask how you manage room-by-room rental in California remotely from Ohio? Do you hire a MTR property manager? I'm in a similar situation but need more inputs to figure out if it is feasible for me. Thank you so much.

Quote from @Matthew Masoud:

This is my P/L from a 6-unit property in Dayton, OH for July.

All 6 units have been converted to MTR.

C-Class area near major hospital (believe it or not purchase price $210k) Cap Rate: ~31%

We have 32 units in this market. Just goes to prove MTR works in small markets too

*Water is paid quarterly.

Thanks for sharing, returns look great. That isn’t how caprate works though, maybe you mean Cash on Cash? Caprate is more of a market term, where a lower number is a less risky property or asset class and a higher number is a more risky asset class. While MTR would be considered a more risky class then LTR, 32% caprate would generally mean the most risky dangerous place on earth

But congrats on your success!

I’m currently living in a duplex with the other side empty and undergoing renovations. The current landlord is planning to sell the property soon.

As a prospective new owner, how likely are you to keep current tenants if they have been endorsed as good renters by the current owners?

I know the other side will likely still need some repairs and updates, so I’m hoping most prospective landlords would be glad to have one side already occupied by a good tenant. Just wanted to see how a landlord would feel about it.

If you don't know an area, Let say you are an out of state investor, how do you determine what class a neighborhood is?

 Do you mind sharing what neighborhood you're in? I'm familiar with Dayton and know it can change dramatically street to street. There's an area I like for small SFRs near Children's hospital that I've gotten mixed reviews from locals on, but I actually think it's a viable area. What kind of occupancy are you seeing? I'm used to nearly 100% occupancy in MTR and am wondering if the occupancy is similar.

Are these 6 separate units or is this a 6-unit small multi-family complex? Just wondering about the configuration for shared walls & common areas and how that's working with your MTRs (if that's the case). We like Dayton, too.