All Forum Posts by: Corey Frank

@Stephen McKnew Colonna this is so true! I am in the exact same place. The early phase to education is all fun and games until you realize complacency and fear are kicking your butt 😬

@Michael Carbonare This is very interesting! What would you recommend for education on lease options? 

that is a fantastic idea. what better proof can you provide to the bank that you will not be occupying your primary residence any longer. 😁

@Michael K Gallagher That is fantastic! 

That is very interesting. I am a complete newb but I had the same notion about the ability to purchase a property with a FHA loan. Have you tried calling more banks? I think I have called about 12 banks so far looking into what they can offer me. I just finished reading David Greene's book on long distance investing. In the financing section (as well as here on the forums) I have heard a lot of people using credit unions over big banks. They tent to be more flexible as they have more room to work with in house. I can not tell you if the bank type will help for receiving a FHA loan. If it were me, I would start looking into why the banks are telling you what they are telling you. It doesn't make sense to me as FHA is a federal program. 🤔

@Mike Mocek Really?! I wondered about low income type housing in Cleveland. Trying to find an area where the tenets won't destroy your property but you still have reliable income. (If a match like that exists 😂) Happy to hear you are getting out of a bad area! Have you looked into Columbus? From my initial analysis of Columbus, it looks like they are experiencing a lot of the growth that is happening for Ohio. 

@Cameron McNulty this is such a good question. I see so much hype about Ohio as well. I looked into Cleveland and the numbers really scared the s**t out of me at first glance. Population decrease year after year since the 60s and a lot of people under the poverty line. 🤷🏼‍♂️

@Steven Wilson Ohio had a population of 11.3 million in the year 2000 and 11.7 million in 2021… 400k increase. neighboring states with half of the original population saw the same or close to the same growth in numbers. The population growth chart for Ohio is practically a flat line for the last decade.

@Jason Dirks Hello! Like everyone else in this thread has said, your construction background will be invaluable! Advice from this newbie is... the bp podcast and forums is a community and resource that can teach you EVERYTHING in every corner of real estate. I have experienced (and heard lots of other experience) information overload. Some of the most valuable advice I have ever received has been to, " take some time to figure out what investment strategy will fit you best, then niche down hard. Study, educate and build relationships with people doing that particular thing". Otherwise your head will spin with options and cause you to do nothing. (Sure did for me anyway!) Hope this helps! 😁

@Joan Sambo What have the loan offices told you when you explain that to them?