I am in the market for a buy and hold multi-family property in Cleveland, Ohio. I will be financing using a FHA loan and I am searching for a agent with experience in purchasing foreclosures. I am just beginning in real estate investing and am searching for another person with the same hunger that I have. I am out of state, but am able to fly to Cleveland within a days notice. Any recommendations for a honest and reliable agent are greatly appreciated :).
I am in the market for a buy and hold multi-family property in Cleveland, Ohio. I will be financing using a FHA loan and I am searching for a agent with experience in purchasing foreclosures. I am just beginning in real estate investing and am searching for another person with the same hunger that I have. I am out of state, but am able to fly to Cleveland within a days notice. Any recommendations for a honest and reliable agent are greatly appreciated :).
Do you plan to move to Cleveland? I ask as you can only utilize an FHA loan if you'll be living in the property. If it's non owner occupied you'd need to do a conventional loan which comes with a 25% down payment. Another thing to note is houses that are in foreclosure are not typically in good enough condition to meet an FHA loans qualifications. Lastly I'd recommend you check out The Ultimate Guide to Grading Cleveland Neighborhoods for some more information on the Cleveland market.
@James Wise, Thanks for the reply. I do plan to move to Cleveland, my job is remote. I do understand that most foreclosed homes are not in good enough condition for an FHA Loan, however, some are. I am not only open to purchasing foreclosures, but I do know they are generally the best deals. And thank you for showing me the "Ultimate Guide," I have read that before it is very helpful!
I have googled Holton Wise and they have three star reviews from Yelp, Google and other review sites. I'm sure there are good agents there, but I do not feel good about the company.
I have googled Holton Wise and they have three star reviews from Yelp, Google and other review sites. I'm sure there are good agents there, but I do not feel good about the company.
The reviews come from the property management side of the business. On the sales side, they very familiar with the investor mindset. You should subscribe to their mailing list, and you'll see what I am talking about. Anyways, good luck in your search.