All Forum Posts by: Donovan Keim

@Suzie Remilien Typically if you purchase an investment property a bank will ask that you put anywhere from 15-25% down and have 3-6 months reserves of expenses (mortgage payments). However, in your situation where you are looking to live in the property, you don't have to label it as an investment property because it will be your primary residence. You should be able to get FHA financing for little to no down. typically minimum is 3.5% but it depends on how you structure the loan. If you find a property in an LMIT area you won't have any closing costs etc.

My suggestion would be that if your moving into this duplex, to get FHA financing but don't label it as an investment property and label it as your primary. Hope that helps!! good luck

Donovan Keim

Hello BP

My name is Donovan Keim, I am for all intensive purposes a "banker" (assistant manager) for Huntington National Bank in OHIO. I do not speak for the bank nor make any promises, however, if anyone is interested in purchasing a rental or needing a HELOC on a personal/investment property let me know, I will do my best to help you with this decision and walk you through the steps to doing this. Huntington is one of the few banks that does HELOC loans on rental properties.

Thanks,

Donovan Keim 

Hello everyone,

My name is Donovan Keim, I'm not necessarily new to Bigger pockets, just new to the posting side of things.  I was wondering what people thought of the OHIO market along with the Columbus market and whether for starting out it was an area that would be worthwhile.  I think it would be good to start with this simple of a question and see where it goes and build from there.  Look forward to talking with you all.

Donovan Keim

Stephen,

Thanks for the advice, i will check it out now.  maybe we can connect in the future since you live in groveport and i live in canal....nice to see people with the same goals in the same area.

Hello,

My name is Donovan and I'm from the Columbus Ohio area. One of the things that I've been really digging into is the real estate investing and I'm totally sold on the idea and the concept. I'm pumped to get started and have inquired about a few opportunities but the thing that keeps popping up is my DTI (Debt to Income) due to all of my student loans and my own personal mortgage etc. What are some good tips to get around this other than waiting until I get that DTI to a manageable percentage that banks/lenders are comfortable with?

Any help would be appreciated.....

Thanks,