All Forum Posts by: Marcus H.

Ivy Wang is it possible that California has much higher fees than Ohio? I mostly want to do it for the education, not necessarily the cost savings. Regardless, thanks for your input! Marcus

James Wise Gunnar Sevart I appreciate the input! Would you suggest getting a salesperson license or broker license? I currently have a non-real estate career that I don't intend on stopping immediately. Would it be difficult to find a sponsoring broker if I get my salesperson license and don't want to do real estate full time yet? Thanks, Marcus

I'm a new Cleveland real estate investor, who's still working on my first deal. Would it be a good idea to get my real estate broker license to have quicker access to deals? I also think I could learn a lot about the whole home buying process. Did any of you do this when you were starting out or have any input for me? If not, are there any realtors you'd recommend on the west side of Cleveland. I'm specifically looking for multi family homes. Thanks, Marcus

Thanks guys! I think that solidifies my decision to go with FHA.

Joe Coyne thanks for your input. It's good to hear from someone who's been in a similar situation.

For the type of property I'm interested in, I currently have enough capital for 20% down plus some minor unexpected expenses. Is it still advisable to start by only putting 3.5% down? I'll be getting more cash flow if I put 20% down because of a lower mortgage payment and all units rented out. 

I'll run some numbers on a few properties and see how they compare. I'm sure I'll have more questions. Thanks for the help!

@James Wise Thanks for your input! I have a good credit score, DTI, and W2. What advantages do you see with doing FHA over a conventional loan? If I have the cash available for the down payment of a conventional loan, is there any situation where you'd recommend going conventional?

Hey everyone,

I graduated from college a year and a half ago, and I've been working and saving up money to do my first deal. I've lived in the Cleveland area my whole life and I'm interested in 2-4 unit multifamily homes on the west side of Cleveland and surrounding suburbs. If there's any similar investors in the area, I'd love to hear about your experiences and strategies you've used to get started investing in the area.

Thanks,

Marcus

Thank you both for your help!