All Forum Posts by: Joshua Koronich

I honestly hadn’t considered cashing out or Refi. I just know that I can technically afford another property but I’ve only owned this place since January. It was an FHA loan, however, I am entitled to a VA Loan still... does that help? I’m under the impression you must live in a property for a period of time (heard numerous time frames) before you can rent out the side you reside in. As you can tell this is my first go round. I’m just trying to educate myself before my next move.

Hi All, I ended up purchasing a duplex in Merion Village, a small village close to downtown Columbus Ohio. All is going well so far, I bought a property with tenants already locked into a lease paying close to 2/3 the mortgage. I brought in a roommate to cover the difference. Aside from some random bills, I’m living marginally less than I was at my previous place in Columbus. I purchased in January, and my wheels are turning on when I can invest again. My question is this: What’s the process for going to a lender to get approval for another property once I’ve got both sides rented out? Do I have to show rental income for a specific amount of time? This property clearly throws off my debt/Income ratio, but when both sides are rented out it’ll be cash flow positive. Any insight here helps, like I said I’m in Columbus Ohio. (Not sure if state/city location plays a role in the 2nd property approval)

Hi All, I’ll be purchasing my first duplex next week. One side I will reside in, and the other is in a lease until August of 2018. I want honor the current lease in its entirety. However, I want to make sure that I’m protected. Do I need to have the tenants sign a new lease or how do I handle that situation (any legalities I need to be aware of)? Also, recommendations on using an LLC for the property? I’ve heard LLC’s are the way to go but I need to do it asap if so.

I’d like to connect and attend this meeting. I’m not sure how to message you but let me know when you see this!

Hello everyone! My name is Josh Koronich, I’m currently living and looking to invest in Columbus, Ohio. I’m currently in contract on a duplex in Merion Village, which is a small village in Downtown Columbus. I plan to house hack, one side is already in a lease until next November for almost 2/3 the mortgage. I’ll have a roommate paying most of the other portion so it seems to be a win win. I’m honestly on here to be a sponge and learn all that I can. No one in my family has really ever gotten involved in real estate so I’m relying heavily on friends in my network for advice. I would really enjoy meeting new people and learning more about Real estate. I love the opportunities it has given some people, and I want to be one of those people in the next few years. I’ve been listening to Bigger Pockets podcast for quite some time now. Please ask anything you want to know and also throw in ANYTHING you think would help me along the process of buying this duplex! Thank you!