Newbie in Lakewood, OH

[Laura Janosko]

Hi Everyone,

My name is Laura, and I moved to Lakewood in December for my job as a Real Estate Researcher. I'm learning a lot about working in multifamily and commercial real estate and eager to start investing. Rich Dad Poor Dad introduced me to the concept of passive income, and I can't wait to get out of the Rat Race (or at least have a little more financial freedom).

I'm looking to purchase a duplex in the Cleveland/Lakewood area and looking for advice on financing options. By June 2015, I'll have saved enough money for a sizable down payment.

Other than my job, I have no experience with real estate and would really appreciate meeting others who are going through or who have already gone through the same process. I'm very excited to start investing and look forward to meeting everyone!

[Joe Fairless]

@Laura Janosko - welcome to BP. I have property in Ohio and some good lenders that are active in the multifamily space are Fifth Third Bank, Blue Mark Capital and First Financial. Many others but those are the initial ones that come to mind.

Re: your sizeable down payment, I'd take a look at the #s to see if you still cash flow with the minimum down payment that way you can use the extra money for another property (or capital improvements to raise rent on your buy).