All Forum Posts by: David Cutright

I am an out of state investor looking to do some investing in Dayton, starting small working my way up.  I'm into multifamily properties.  Duplexes - Quads to start and then if the area works for me start getting bigger.  I'm looking to show up in Dayton over a weekend and look at properties and hone in on the things I need to know (which areas, local stats, etc) as well as refine the search for the agent, but afterwards I'm not flying up every time a new listing pops so we will need to work out the long distance thing.  I also need a good property manager and contractors in the area for the same reason. Any help would be appreciated.  Thanks!

Barbara, so there are an awful lot that goes into what credit limit/rate you get when you apply, for example, your credit score, your income, your employment history as well as credit history - applying for lots of recent credit scares some lenders.  Assuming you are good with those, I would suggest hitting up some Credit Unions.  I recently received a personal line of credit for $30k from State Department Credit Union as well as $25k from Northrup Grumman Credit Union.  Sounds tough to get in but they aren't, just have to join one of their charities/associations.  They aren't "local" but they do offer larger lines of personal credit.  Also, suggest researching on Youtube, in my research I ran across "credit plug" and decided to run through some of his suggestions and it worked for me, obviously there aren't any guarantees but something to check out.  Good luck!

@Jason Johnson

If no capital start with house hacking sfh renting out rooms or mfh up to quad and rent units. Easier financing/qualification. People have a desire to jump in but there isn’t anything wrong with dipping a toe to get started especially as you need to get familiar with your local laws, your local economy and your personal strengths and weaknesses in regards to running “the business”.

Or bring the deal to an investor for a finders fee that you then negotiate back into the deal as a percentage partner for the fee AND sweat equity and learn from the bottom up.