All Forum Posts by: Brittany Minocchi

If you don’t have gaps and can justify the job changes, it shouldn’t be an issue. A loan amount of $58k for conventional shouldn’t be a problem either, although the pricing is a bit higher on lower loan amounts. I can’t say for certain without seeing the whole picture, but I’m happy to discuss if you’d like to connect. 

Can’t offer any advice on Youngstown, but I do very well in the Canton market. I would expect similar results in Akron. 

Hi Edward, happy to connect. 

Like others have said, commercial is your only option here. I may know of a lender that will finance this type of deal depending on a few different factors. Feel free to connect. 

Welcome! I started with (and prefer) multi-family properties and buy primarily in Canton. House hacking is a great way to get started if that's an option for you, but I understand that's not the case for everyone. Happy to connect if I can help in any way. Good luck! 

Hey Clarence! An FHA loan would require you to occupy the property for at least a year, so if you are not located in Ohio, that wouldn't be an option on a property here. I don't know of any DPA programs that don't require owner occupancy. On a multi-family, you'd need at least 25% down for a conventional loan, maybe less for something non-QM depending on the property/scenario. Feel free to connect if you'd like to discuss further.

Since the properties are already renovated, it doesn't sound like ARV would be a factor here. You have some options without having to wait 6 months - happy to talk if you'd like to connect.

Not exactly Akron, but I invest in Canton and it checks all the boxes you mentioned. Definitely better for cash flow over appreciation and multi-family properties aren’t hard to come by. No shortage of people with Section 8/SMHA vouchers. As far as being landlord friendly, you’ll have annual per-door registration fees and inspections to deal with if you’re in the city, as well as Section 8 inspections. Being out of state, I’d make sure you’ve got a solid person or team of people you can count on when it comes to repairs, maintenance and general boots-on-the-ground. 

Welcome, wishing you the best in your endeavors! @Lanir Maximuk, I’m in Ohio and happy to connect if you’d like.