New Member - Columbus, OH

[Clayton Anderson]

My name is Clayton Anderson, I am 25 years old, live in Columbus, OH, and am looking to obtain my first real estate investment! I have an undergraduate degree in finance and am currently working towards an MBA specializing in finance. I have a great career with a large financial institution, but I would like to begin developing an investment portfolio in real estate. I think what I would like to do is either rent out a single 2-3 bedroom home or live in the unit and have a roommate or two. 

My mother is a relatively new real estate agent but is working under a very experienced Columbus agent that also holds investment property, and a good friend of mine is a loan officer with American Eagle Mortgage, so I have begun assembling my "team". I have a very high credit score and almost no debt (car payment only, almost paid off), so I already have a pre-qualification letter for $350k and am relatively familiar with FHA loan options for first time buyers. I am confident I could do a 5% down payment on a $250k property for a lower rate conventional loan, but any more than that would be a stretch.

I have taken on the search criteria of "would I want to live here / how much rent would I pay for a month of rent here" mentality which includes a location close to downtown so I would have the option to rent it all out or live in it with a roommate. I have been browsing the MLS database for a few months now strictly searching for duplexes to live in one half and rent the other, but haven't found any I would personally want to live in, and am now extending my search to single family units.

If anyone has some advice or would like to connect, I would greatly appreciate it! 

Clayton

[Kim Younkin]

Welcome to BP @Clayton Anderson! It sounds like you're ready to go. We think you're always better off house hacking on a duplex because of the potential for 2 rental incomes in the future when you move out. If that's what you really want, wait for the right one; it'll happen. And we're getting into springtime now--you might just find one as listings pick up. Good luck!