All Forum Posts by: Erin Whalen

Thanks, @Gordon Starr! That’s good to know.  Is that what they do in Dayton?  Do you know if anywhere else?

@Daniel Han I am looking to buy at a sheriffs auction, so it has to be cash. That is why I would use the heloc, then use the mortgage to pay it off. The lower interest rate would be a plus I wasn’t even thinking about. Bonus!

Thanks so much for your input!

@Ryan Siwinski title insurance only covers you if there was an error somewhere. Is that right?

I am looking to buy my first rental property (SFR). I have a substantial amount of equity in my primary residence, which would allow me to get a HELOC and thus, cash, to start investing. Are there any cons to this route other than losing my house if things go south? Or even pros I might not be considering?

I would like to use cash initially for purchase and then take out a conventional mortgage once the property is fixed up so I can keep my residence and investments separate.  Does this help lower the risk?  I am concerned about qualifying for another mortgage since my regular job is not high paying.  I do have a good sized emergency fund that should carry me through most issues and vacancies, but I would be mostly relying on rent payments to pay off the mortgage.  What do banks look at to determine how much they will loan to you?  Is it different on an investment property than a personal residence?

Thanks for your help!

I am looking to buy my first property at a Sheriff's auction.  A real estate agent/cousin of mine that also has bought at a Sheriff's auction told me that counties in Ohio release all liens.  Does anyone else have any knowledge of this?  Does anyone recommend title insurance in these types of situations?  Would that protect me from liens? 

I did look at the county recorder's website and did not see any liens listed, only the deed, original mortgage, and then two items listed as "assignment."  It appears the mortgage was sold or transferred to another company. Is my understanding of this correct?  Are liens always recorded with the county recorder's office?  I do know this owner also had filed bankruptcy about 2 years ago before the foreclosure process was started.  The property went up for auction back in June and actually sold, but got reversed because of something to do with the bankruptcy case.

Anyone thoughts, recommendations, and advice is appreciated!  If this works out, it will be my first deal, so I am trying to cover all the bases!  Thanks in advance!

@Jay Hinrichs

Thanks! How else do you recommend finding deals? Especially for a first property?

@Lien Vuong

Thanks for the feedback! What other ways do you recommend finding your first deal?

I am new to real estate investing and am wondering what types of things I would need to know before purchasing a property from a wholesaler. Would I need an attorney? Title company? Real estate agent? Can you offer less than the asking price? Any other advice?

Thanks in advance!

He’s a local investor that owns millions in property. He has his own podcast called best ever real estate investing advice.  He also runs a meetup by the same name. You do have to rsvp and pay about $3, but this is just to weed out people who say they’re coming and don’t. You should be able to find it on Joe’s website or on the meetup website. 

I can’t seem to post the YouTube link. Maybe that’s against the rules.

If you search joe fairless best real estate investing advice ever show, it is the 2019 Cincinnati real estate market update.  He also does a podcast and sometimes has Cincinnati area interviewees.