All Forum Posts by: Alan Howard

Thank you for your responses as they definitely cleared this issue up for me and also provided me with a place to start. I live in Michigan and I'm looking primarily in the mid-west, however, I've looked across the country as well. I have single family rentals in my city but would like to scale up into multi-units (5+) but there aren't many options in my state outside of huge apartment complexes which would be a bit much for me to start. Sounds like I need to focus on a few cities and find realtors there to work with.

Hi everyone, 

Can anyone tell me what the norm is when looking to purchase properties in other states. Do investors travel to these properties to view them before making an offer, or at some point after an accepted offer (during inspection s)? It seems one may lose out on a great deal if they have to travel hundreds of miles to see the house before offering.

Thanks to everyone who replied to my post, your responses are much appreciated. I look forward to exploring these options.

Thanks Michael you've given me much food for thought, especially with educating myself on creative financing.

Hello BP, 

I'm a bit stuck as I have about 75K which I was planning to use part for a down payment towards a quad-plex. However, my high debt to income is hampering me from obtaining financing. I've been wracking my brain trying to figure out another means of getting financed. I am new to investing and have no private money connections. Also, hard money isn't appropriate for buying and holding. Has anyone out there been in this position, if so, how were you able to get financing to move forward? How is it that investors are able to attain multiple loans without maxing out their DTI? Perhaps I'm trying to start to big and need to stay in my financial lane with a brrrr, flip, or cash rental purchase. What are your thoughts?

Thanks for your responses they really helped.

Hi everyone, can anyone tell me what type of area Bruce Ave. is in Dayton Ohio, and also a good property manager in this city.

I'm looking at properties in Dayton Ohio. Is there anyone out there who knows whether homes in the North Riverdale area are considered B or C properties? 

I recently took out the equity I have in a SFH rental property. My intent was to purchase another rental. Shortly afterwards, I stumbled across the BP website and realize there are other options to get me started investing (BRRRR, Flips, etc.) I wish I'd found BP earlier. Though I can find single family homes and a few duplexes which I can pay cash for, I'd really like to buy a tri or quad-plex for more cash flow. However, I would need to finance a portion of the purchase as I don't have enough cash to buy them outright. Will a lender consider my DTI ratio only when applying for financing of an investment property, and having just taken out an equity loan on my current rental, does it even make sense to apply for another loan? Any advice is appreciated.

Thanks for the welcome @ Saravanan Saravanan @Justin Windham. I'm looking forward to learning and networking. I live in Battle Creek, are there any meet ups near me that I could attend?