$54,000 for TWO Homes | Dayton Ohio Real Estate Investing

In this video, I talk about two properties that we purchased earlier this year for $54,000. Dayton Ohio Real Estate Investing sure is awesome!
---------------------------------------------------------
Click here for a free 7-day trial to PropStream: geni.us/PropStream
This is an affiliate link, and I thank you a ton for using it...it helps me feed my kids!
Want to join a group of like minded men to encourage you, hold you accountable, and help you reach your goals faster? Watch this video about the Seek Wisdom Mastermind group: • The Seek Wisdom Master... and fill out an application at seek-wisdom.com/join/
---------------------------------------------------------
About Ryan Ingram:
I believe the meaning of life is to become the best version of yourself for the benefit of all those around you.
Over the past 3 years, I have made drastic improvements to my life. Mainly, because my wife and I had our son; it was very important for us that she be a stay at home mom.
Unfortunately, on my salary in law enforcement, I couldn't make that happen.
I questioned my abilities as a provider, and for a brief time, even as a man.
I dedicated myself to read one book per day until I learned how to solve this problem.
3 years later, we have a few businesses and over 60 rental properties.
We made sacrifices along the way, but I learned the power of mentorship. I know the importance of finding someone willing to help and guide you, even if they are just a few steps ahead.

[@felixfuentes2537]

Thank you for the info !!! How it is the Dayton market these days ?

[@marketwiderentals7829]

Great finds.

[@RyanIngram]

Thank you!

[@Whit3boy316]

Where do I find people selling packages for around this amount

[@RyanIngram]

Hard work, persistence, and luck. These were on the MLS.

[@davidmorrison7323]

Even more great deals! I didn’t know that your only contingency is you walking through. That’s cool. Do you get an inspector at some point?

[@RyanIngram]

Hey David! No, I no longer use inspectors. I am either stupid enough, or confident enough to check out all of the big ticket items myself. I'm sure it will bite me at some point...but, for now I think it is ok.

[@realestateaudiobooks1968]

It's wild how cheap properties are in Ohio. Financing them is the challenge however. Especially if they are below 50k. I was lucky to find a lender that can go all the way down to 30k on a loan amount. Works great in a portfolio loan too. You can also get fix and flip financing for the smaller deals. Not every investor can buy all cash. Happy investing everyone and great video!

[@RyanIngram]

Thanks! Finding lenders that are willing to work in these markets is a little tough. But, most local lenders do it and understand their market. We have a loan with almost every local credit union. Mainly big box or institutional people have the higher LTV requirements. But regardless, thanks for the compliment and look forward to learning more about you!

[@brucef310]

I wasn't aware that there were minimums to get financing on a property. Is that the case?

[@realestateaudiobooks1968]

@@brucef310 Yes there are minimums mostly on the DSCR and Commercial sides.

[@ellivalentine2466]

Hi Ryan, I have an opportunity to pick up a vacant land lot in a residential neighborhood in Dayton (45405) for almost zero dollars. The seller is practically giving it away. The caveat is it’s in an undesirable neighborhood where drugs may be prevalent with some nearby houses not in the best shape. I’m contemplating picking it up for possible appreciation in the future or tax benefits at the very least but are there other factors I should consider before agreeing to purchase? Would you do it? Thanks!

[@RyanIngram]

Hey, Yes, I would do it. The only downsides are that you’ll have to pay for mowing, you’ll have to pay the taxes, and you’ll have to keep an eye out for people dumping trash on it.

[@ellivalentine2466]

@@RyanIngram Thanks for the reply! Love your channel. I’m an out of state investor so I guess I’d have to weigh if it’s worth the trouble of having to pay for mowing, insurance, etc.

[@CarlyPedersonTeam]

Great video! I am looking into purchasing a long term rental property there. How to do end up paying off the loan if you're doing interest only payments? Do you just throw that extra cash flow to principal or? Thanks!

[@RyanIngram]

Good question. We use private loans that are interest only at first to acquire and rehab the property. After it’s rented out, we refinance with a traditional bank. That is a normal loan and is amortized over 20-30 years.

[@conorrichard9829]

How do you like Toledo OH?

[@ryanwilliams9515]

Do you buy in cleveland?

[@RyanIngram]

Hey Ryan, no I do not. Why do you ask?

[@ryanwilliams9515]

@@RyanIngram I wholesale in cleveland and I see you buy in ohio and just wanted to ask.

[@RyanIngram]

Gotcha!

[@RyanIngram]

Thanks for thinking of me 😎

[@roenikaarmstrong9031]

Can I become your intern to learn what you know?

[@RyanIngram]

I honestly have no idea, send me an e-mail at [e-mail] and lets talk. I'm happy to help...but I am not sure what you could do in order to call yourself an intern of mine.

[@mt9443]

Hey Ryan, about to close my first property, but I felt like the lender closing cost is too much. What is your average of a 70k property? What's a good, average or bad closing price ? I was asked about 6500 and with final cash out after 20% down is 21k

[@RyanIngram]

Nice! Super pumped for you and congrats! What type of loan are you doing? Is it a normal FHA Fannie/Freddie loan or hard money?

[@RyanIngram]

If you want to email me the HUD, I’d be happy to give you my thoughts. Feel free to black out any personal info

[@mt9443]

@@RyanIngram that will be awesome. What is a good email to send to?

[@RyanIngram]

[e-mail]

[@mt9443]

@@RyanIngram just sent. Thank you again for taking your time looking into this