All Forum Posts by: Mateo Oquendo-Chandler

I agree that House hacking allows you to get involved in owning a property with avoiding some of the risks of renting it out and managing it from home. You are also able to utilize Ohio's first time home buyer programs which could help with the acquisition of the property as some offer grants that can be used in addition to your down payment. You also open yourself up to the options of using Freddie Mac loans since many require you to use the property as a primary residence for at least a year.

If you do end up trying to find a partner, be sure that there is a legally binding contract/agreement that will help to secure your portion agreed upon.

I'm a fellow real estate investor in the Cincinnati area looking to meet and greet any and all who are in the Clermont County area. I am an Amelia local and have been in the area for 15+ years now and am looking to get to know others who are invested here. I'm currently working on a rehab and am always looking to grow my network with other investors. Feel free to add and/or message me. Hope you all have a good weekend. 

Currently we are doing just first thursday of the month same time and location each month. There are some plans to add another day and location but that is still in the works. 

If you haven't already, feel free to join in on the meetup every 1st thursday of the month. Current held at Madtree. Details can be found in the meetup forums.

 Sounds like you are taking the right initial steps. If you are in the cincinnati area, I would recommend attending our meetup at Madtree. We do it the first Thursday of every month at 6:30. You can find it in the bigger pockets meetup forums. We have some people from the tri-state area that come and meet and greet and share their experience and what they are looking for next and is a great opportunity to meet people actively in the game and in the area.

Next, while you are making connections and gathering information, I would encourage you to start defining your limitations. Don't let the market decide what is available to you but decide first what time, money, and resources you have available to put into the market. Once you have those, then evaluating each property becomes much easier because you know what you can say no to before you waste too much time on it. This also helps with narrowing down what areas you are looking in, which saves time during searches. HELOC can be useful but all depends on your financial situation. With high interest rates, you just have to evaluate what you can handle without stretching yourself too thin. Rent is great income WHEN it comes in on time. I like a quote I heard once on the podcast, "The renters don't pay your mortgage, they reimburse you." This has been a reminder to me in my early stages of being an investor that I need to be able to afford the payment in case my renter doesn't, which has been a good habit as a beginner.

Define "guidance." How much knowledge have you been able to gather up to this point? Many of us will recommend to keep listening to the podcast, reading real estate literature, and deciding on where you want to start. More information you gather, the greater your confidence will be to pull the trigger when the opportunity presents itself.

 First one is in Monroe 45050 area, second one is in Batavia 45244 area.

 I agree. The 1% rule helps with measuring risk. You know that if you can meet the 1% rule normally that means you can cash flow on the property. Now if you are investing for appreciation then the 1% rule isn't an important metric. I too invest in Cincinnati and just closed on my 2nd rental last Friday and both are in areas that meet the 1% rule because my focus is cash flow and properties in areas with a great school district and good medium income.