Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

3
Posts
0
Votes
Willie Cook
  • Vendor
  • Akron, OH
0
Votes |
3
Posts

New guy with a fish on the line...

Willie Cook
  • Vendor
  • Akron, OH
Posted

Hey Biggerpockets folks, 

My name is Will. I am a new investor in Akron, Ohio. With a potential investment opportunity on the line and I want to make sure I handle this the right way. 

Background: I am not new to real estate exactly...I am a notary closing agent, I am a home inspector, and I work for a large commercial CM. 

Situation: Attempting to House Hack (see im down with the people/lingo) in Stow, Ohio. The property is a side by side duplex, price is $159,000, 4% interest rate, owner financing/land contract, no money down (yeah I know). One unit rents for $850 the other for $780, one of the tenants may move out in January, which is when my family and I will move in. After mortgage, insurance, taxes im looking at $1543. 

I want to do this deal but I am currently working my way out of some financial difficulties and rebuilding credit. How can I get this property and safe guard myself from huge detrimental repairs? Property is in good shape, good neighborhood...the rent is actually below market value. According to relator.com, zillow...duplexes with 3+bedrooms with the square footage this property has is around $1100/mo per unit. 

Let me know what you guys think. 

Will 

Loading replies...