All Forum Posts by: Domininc R Liva

Thank you all for the input on this. It sounds like the general consensus is to stay in a nicer area for my first property to get a feel for the management side of things. I like the Lakewood area a lot so I think I am going to continue to look here as well as other similar areas. Luckily I have some time until May to keep an eye on available properties over that time frame. This will also provide me with time to save up the extra cash if I were to go the route of obtaining a conventional loan. A couple people have mentioned potential issues with obtaining an FHA loan for my first property. Out of curiosity, why is there a concern there?

@Rick Prudhomme thanks for the advice! I have been checking out the Edgewater area as well. It seems property value there is similar to Lakewood. Maybe a little lower.

Hello all,

My name is Dom and I am new to this whole real estate thing. I have recently graduated from school with an engineering degree and I have quickly realized that the 9-5 lifestyle is not for me. I have always been one who will work as hard as I need in order to get where I want to be.I am hoping to gain some knowledge and insight into real estate investing so I can build a portfolio and gain financial freedom. I have been watching a lot of videos and reading a lot of posts that BP has to offer. Coming this May I will be looking to buy my first property to house hack and kick off my portfolio. I look forward to learning as much as I can from fellow members and investors. 

Hello all,

I am looking to get into real estate by house hacking. I am looking to buy my first property in May come the end of my current lease. I plan to go the route of obtaining an FHA loan to fund my first property. I currently live in Lakewood and it seems like there is a great market here with plenty of multi family homes. With that, it seems like property prices are generally higher around here whereas other neighbors you can find duplexes going for cheaper with similar rental income. Lakewood seems to be a generally good area with little to no worries of break ins or theft.

Does it make sense to do a first time house hack somewhere a little nicer like lakewood, ohio city, tremont, etc but have a longer term loan because of the higher property value? I am considering looking into a less desireable area to get my first property off the ground and build equity in so I can start building my portfolio faster. There are pros and cons either way I am curious what other house hackers/investors may to say.