All Forum Posts by: Mikael Winkler

Haha! Thanks for the encouragement, Kyle. I've sort of always been a pessimist, so doing a no money down strategy like the one I'm contemplating just seemed unrealistic to me at first. But, one of the most important things I've learned in my research thus far is not I can't, but how can I?

Yeah, I understood PMI would be a part of it if I went that route. But for having next to nothing into it initially, especially if you're just starting out, its a good way to go I think. Thanks for the input!

Hello all,

I am currently researching properties for my first rental. I know I'm going to do a house hack and have been contemplating ways to reduce my initial capital as much as possible, as I have next to nothing available anyway. 

I'm thinking of doing an FHA loan with 2.5% down and down payment assistance to cover that down payment. Has anyone had experience with this or have thoughts?

Thanks everyone!

Christopher,

Thanks for the input. I've just begun researching and will be focusing in on particular submarkets shortly. I'll mostly be looking at C grade areas, honestly, as capital is an issue. However, that won't stop me from doing my due diligence and really analysizing properties.

I will most certainly get back in touch with you for advice on certain things I see. Thanks again!

Great input, @Brandon Schlichter. I, too, am new and based here in Columbus. I'm also looking into investing, more particularly in duplexes to start. My first, I plan to "house hack" I guess they call it and live in one of the units. Then build from there. With future investments, I actually love the idea of looking out of the metro area. It's true, the competition within the city is pretty high.

@Ryan Libersherthanks for the recommendation! I'll definitely give it a read.  

@Adam Fansler thanks for the input! yeah, I'm starting with zero, as well. most likely doing FHA to further minimize down payment. I'm nervous, but if you don't do it, you'll never know. Plus, I never realized how many resources there are out there and people who've gone through the same thing. Thanks again!

Hello all,

I'm excited to have recently joined BP. I'll quickly introduce myself. My name is Mikael Winkler, and I live in Columbus, Ohio. I've been brokering commercial retail spaces for about a year, with moderate success. I've certainly learned to be comfortable with rejection, for what it's worth! My true interest has evolved into investing, particularly in rental properties. The only major issue - I have little to no capital.

My main question is - has anyone had experience starting to acquire rental property with no capital? I'm currently looking into duplexes, probably living in the first one and renting out the other unit. My main concern in lacking capital is any unforeseen repair costs that may arise. Any guidance would be greatly appreciated. Thanks!

Christopher,

I'm essentially in the same boat. New to real estate but pouring through reading material and resources like BiggerPockets. Good luck in your journey!