All Forum Posts by: Arthur Clark

@Thomas McFarland I am working on compiling a buyers list. Send a PM with the type of homes and or price range you would be interested in. 

Hi James Wise thank you for the feedback. It sounds like this would not be an way to gain income. Working with an investor to help locate homes for sale in exchange for mentorship should be permissible I would hope. I will look into Ohio laws a little more before I jump in.

I am currently looking for ways to get started in real estate investing and build capital for buy and hold properties. 

 The idea of offering bird dog services in the Akron/ Canton Ohio area is one that I have been considering for some time now. I would like to use it as a way to gain capital, familiarize myself with the area and build my buyer/seller list through networking. Are bird dogs still an useful resource to wholesalers or real estate investors?

Are bird dogs still an asset to wholesalers or real estate investors? I am interested in offering bird dog services in the Akron/ Canton Ohio area. I would like to use it as a way to gain capital, familiarize myself with the area and build my buyer/seller list through networking. 

Opinions would be appreciated. 

Thank you everyone for the input. Brian Nordman I will stay on track to buy a multi family. Brian G. FHA offers low DP for owner occupied so I can stay in one unit and rent out the others. Sam Bates I do not have enough capital for a Commercial down payment in my focus area but you make a very valid point about calculating in the properties income when qualifying. That would definitely be a venture that I will find partners for when the time comes.

Hi BiggerPockets I will be investing in the Akron, Oh area. I am having an issue picking a strategy. My long term goal is to build a buy and hold portfolio. My issue is a lack of capital to get started. Option 1) Purchase a small owner occup. multi family 3 to 4 unit. I would continue to save and explore home flips to gain capital for additional properties. Option 2) 203k to renovate a distressed property. (Ugly home in nice area). Then I would pull out equity after a year to use as a down payment for a multi family. Is there a right or wrong answer to this? What would you do? I look forward to hearing your thoughts. Thanks!

Shannon K. Paul Hitchings I feel more confident about the potential now. After about 20 calls I found a loan officer that does 203k loan frequently and walked me through the process. Everyone else almost ran off when 203k was mentioned lol. Thank you both for your input.

I will make my first property purchase this year. Due to potential comp issues I am reevaluating a multi-families as my first property choice. I am considering a Fha 203k on a distressed to create equity for additional investments. Is this a good, bad or risky idea? Thoughts and or experiences would be greatly appreciated.

@Joe Fairless I have yet to start investing. My goal will be to establish a portfolio of multifamily properties. I would like to use wholesaling for help with downpayments.

@Jeff Rabinowitz Thank you for your input. I did watch the videos.The 3rd video elaborated on what you said in regards to selling of your interest in the property. If at some point I decide it is not something I would like to keep in my own portfolio.