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All Forum Posts by: Erik Wagner

Erik Wagner has started 2 posts and replied 6 times.

Post: New Investors in the Warren/Youngstown/Akron Area

Erik WagnerPosted
  • Rental Property Investor
  • Youngstown, OH
  • Posts 6
  • Votes 9

@Stan Wu

Almost all of the violence has been a few blocks of Youngstowns south side I think maybe there's some gang activity going on. Most of Boardman is pretty nice and supported by the crazy amount of commercial enterprises there. I only know a couple parts of Mahoning county, I've lived in the neighboring Trumbull county my entire life. Here I've been looking at Girard, Niles, and SOME parts of Warren. Girard has a LOT of small multi family properties especially near the main strip in Girard. This is a fairly middle ground kind of place, decent business and they're not in the newspaper often, Niles has a lot of larger apartment complexes since it's got the Eastwood mall and Howland right by it. Howland is all doctors and lawyers, low crime but much higher end homes for this area. Warren is one of those cities where the street, and even which end of the street, is really important. It's got a lot of everything right next to each other, and some parts are ok and some parts make me nervous to even drive through. A good example is if you drive up and down East and West Market streets in Warren and look to your left and right as you drive. One side will be doctor's offices and nice homes, and the other side is a lot of run down homes, particularly in the space between niles and Warren. There's a town near here called North Jackson that is seeing a lot of warehouses and distribution centers opening in the past 5 years. Amazon, FedEx, and now Macys, despite North Jackson being about 2 streets total in the whole town. This is an area that may experience large growth over the next few years. Austintown isnt far from North Jackson, I dont hear about a lot happening in Austintown as far as crime and I think there's a mix of multi fam and single fam there as well.

Post: Creative Financing for Multi Fam House Hack

Erik WagnerPosted
  • Rental Property Investor
  • Youngstown, OH
  • Posts 6
  • Votes 9

Hello BP community, I was hoping to get some advice from some investors who have come from similar situations as me. Me and my partner live in NE Ohio (Youngstown/Warren) and we are looking to purchase a multi family unit (up to 4 units) and house hack there. The issue that we are running into is that since we are both 23 we only have about $8k total in our bank accounts together. I've read about creative financing with lower downpayments but I also dont want to use every cent we have for a downpayment and then have nothing left for any issues that come up. Has anyone been in a similar situation? How did you overcome that? At the rate that I am able to save money currently I will likely be at about 12k by the end of the year. I'm hoping that my partner does well as a RE agent but I also want to see if there are any other ways to finance the purchase of something like this?

Post: New Investors in the Warren/Youngstown/Akron Area

Erik WagnerPosted
  • Rental Property Investor
  • Youngstown, OH
  • Posts 6
  • Votes 9

@Remington Lyman Me and my partner have actually discussed moving to Columbus we really loved it there. What kind of property did you start with and how did you finance your deal? I'm sorry if that's too nosy I am just struggling to find decent properties where I'm at so I'm wondering if maybe a different market might be better for this sort of thing...

Post: New Investors in the Warren/Youngstown/Akron Area

Erik WagnerPosted
  • Rental Property Investor
  • Youngstown, OH
  • Posts 6
  • Votes 9

@Nicole Heasley I do I believe I recently joined your facebook meetup page. Me and my partner (who is currently attend real estate school) were hoping to attend the next meeting. We live in Warren near the Mahoning Ave Giant Eagle currently but I work in Youngstown.

Post: New Investors in the Warren/Youngstown/Akron Area

Erik WagnerPosted
  • Rental Property Investor
  • Youngstown, OH
  • Posts 6
  • Votes 9

@Stan Wu Boardman was a good area but the Southern Park mall filed for bankruptcy recently so I'm not sure what that's going to do to the area if it ends up shutting down. You would also be near the South side of Youngstown so I would be very careful looking at houses there. Youngstown south side has shootings almost daily, a lot of gang violence.

Post: New Investors in the Warren/Youngstown/Akron Area

Erik WagnerPosted
  • Rental Property Investor
  • Youngstown, OH
  • Posts 6
  • Votes 9

Hello BP community! Me and my partner are new investors in the NE Ohio region. My partner is currently attending hondros RE school while also pursuing an international business degree from Kent State University. We are interested in house hacking and plan to build steady cash flow by acquiring rental properties over the next few decades. We are also interested in making new friends and connections so please feel free to reach out!