This is the next post in my series on investing in Dayton, Ohio real estate. My last article explained why I believe that Dayton’s geography gives it a competitive advantage with real estate investors. In short, our city’s close proximity to large portions of the U.S population, combined with the fact that many major interstates come through our area, make this a prime location for ecommerce companies.This has led to a good deal of recent investment and job growth in the region. In this article I will discuss why I do not believe our city has been “left behind,” as was reported last year in a Frontline special. In fact, I believe our area is experiencing a rebound and that this is providing opportunity for investors.
In September of 2018, a Frontline special claimed that Dayton had been left behind in regards to the economic growth our country has seen since 1980. To put it mildly, the piece was not flattering. It is my opinion, however, that the Frontline special omitted or left out many key facts. The truth is that, since I moved back to Ohio in 2015, I have seen much improvement to the Dayton area. I believe this improvement shows that, in fact, the Dayton metro area is on the rebound.
Dayton has seen many areas of improvement since I moved back to Ohio in 2015
I moved back to Ohio from the western U.S. in 2015. This move, in large part, was to invest in Dayton area real estate. I purchased my residence upon moving here and began buying rental properties in 2016. I’ve seen significant improvement to the area since I moved back. Just a few of these improvements include:
- Issue 9 was passed in the November, 2016 election. This provided funding to resurface the city’s streets over an eight year period. I have already seen repaved roads in many neighborhoods.
- The Dayton Metro Library is in the midst of a $187 million plan to update its facilities. A new $64 million main branch opened in 2017.
- The University of Dayton announced a $72 million renovation of its basketball arena, which is taking place between 2017 and 2019.
- In July of 2018, Wright Patterson Air Force Base received a $182 million expansion. This was the base’s largest single expansion in the previous fifty years.
Again, this is a short list of just a few of the improvements the area has seen since my return to the state.
There are other signs which I believe point to our region’s health. First, it was recently reported that Montgomery County added to its population last year. This means that people are moving to our area, as opposed to moving away from it. Second, while much has been made of the region’s opioid problem in recent years, the fact of the matter is that the number of opioid related deaths in our area fell by nearly fifty percent from 2017 to 2018. This reduction in the drug problem has, in part, been credited to local public health initiatives.
To put it simply, I feel that these facts, among many others, show that Dayton is on the ascension. This ascension is a large part of why I have been personally investing in local real estate.
The claims that Dayton has been left behind only encourage me to invest further in local real estate
As to my personal investments, the claims that our city have been left behind actually encourage me to invest further. This is due to a valuable piece of advice I once received; I was told that it is good to invest in things which “people are laughing at but are actually growing like a weed.” As an example, this can be thought of as investing in Google when it was still a garage startup and people just didn’t see the point of a search engine. I personally believe that investing in things, before people see the “big deal,” is an opportunity which doesn’t come along all that often.
I purchased my first rental in the area in March of 2016 for $58,000. As of this writing (just more than three years later), the property has appreciated roughly twenty-six percent and I have collected roughly $25,000 in rent payments. This is at a time when articles are being written which claim that our area is in bad shape. In other words, there are those who continue to scoff at our area while home prices are going up at a good clip. As a personal investor, I see this as a good opportunity.
If you are interested in investing in real estate, or buying a multi-family home, then contact me today to speak with a Dayton realtor. I deal with a number of investors, both in state and out of state, and I am ready to assist you. I also service the areas of Beavercreek, Centerville, Cincinnati, Clayton, Englewood, Oakwood, Fairborn, Harrison Township, Huber Heights, Kettering, Miami Township, Miamisburg, Riverside, Springboro, Trotwood, Vandalia, Washington Township, West Carrollton, and Xenia.
Note & Disclaimer: Nothing in this article, or on this website should be construed as investment or financial advice. The opinions shared on this website are the personal, and not professional, opinion of the author and are not associated with Keller Williams Advantage. Any investment decisions should be made after consulting with a certified financial/investment professional.