All Forum Posts by: Mike Yang

I’m also looking into Dayton, Ohio and I’m in need of someone who has their foot on the ground in the area. Would someone be willing to connect with me and share some thoughts and experiences.

@Nikhil Badwaik who’s your property manager? I’m also looking to invest in Milwaukee but I want to find a good PM to work with.

I just visited Milwaukee WI this weekend and I saw some potential duplexes going for 40k-60k around the C class neighborhood.

I have some cash saved up I’m thinking about either paying all cash for one and use delayed refinance to cash out my investment and repeat, or use that cash to get a commercial loan to acquire a bundle of duplexes at once. I’m not too sure how the delayed financing works though.

The other way is use the Brrrr strategy and buy a 40k duplex and put in 10k-20k in rehab. Does the brrrr strategy work In Milwaukee? I’ve heard the value won’t go up as much even after a rehab around the C class neighbor. Maybe someone in the area can educate me a little more about the MKE market?

My other concern is finding a good property management if I do invest in the area. Also looking for recommendations for PM.

Thanks guys...

@James Wise

Yes I looked at the guide and the area I’m looking is in the F area regarding to the guidelines. It’s in the 44106 area code, but the building seems to be cash flowing well and would like to connect with someone who knows the area better to build my confident in the next step of making an offer.

@Tom Ott

The apartment I’m looking at is located in the 44106 area code. I know the area may not be ideal for some investors, but the apartment seems to be cash flowing well with the numbers that I’m seeing.

But I’d like to connect with someone who has boots on the ground in the Cleveland area to help see if the area and building is good to go and maybe help with getting it under contract and lending referrals.

@Steve Emling

Correct, that’s who I’m looking for. Someone who has boots on the ground in the area.

@Steve Emling

Just to see if the area is ok to invest, and maybe a realtor or broker that can help me make an offer on the apartment that I’m interested in.

I’m a newbie looking to start investing in multifamily building and there’s an apartment that I’m very interested in Cleveland, Ohio. Is there anyone around the area would like to help me out.

I found an apartment complex that I want to acquire and was wondering if there’s any lender out there that would do a piggyback loan or second mortgage. My plan is to ask the seller to finance 15% and I come up with 5%. If the offer gets rejected, I have 5% to down and need a piggyback loan(second mortgage) for 15%. Let’s say 80/15/5 and second lender to finance the 15% portion. My credit score is 739 and never miss a payment. I don’t want to miss this opportunity and hope there’s some lenders out that I can work with to make it happen.