All Forum Posts by: Nicholas Misch

Thank you both for your replies. This is in Akron, walking distance to the university. 

On my first pass this seems like a really good deal. The next two things I would be curious about would be how they look/ how recently they have been updated, including HVAC/ water heater age, and the last time the properties were renovated. I would also want to know where these were. With my quick calcs, 90k down, 270k loan at 6% for 30 years, leads to a cash on cash return of 15% a year without doing anything fancy makes me think that you are in a market like Cleveland or Flint that the population is declining. I personally will not invest in an area with negative population growth. My whole thesis for owning real estate has to do with scarcity, and if the population is declining (half as many people live in Cleveland as they did in 1970) scarcity is not an issue in that area. If this is in a location with a growing or even stable population and the units are in good shape, this is a great deal! 

My team lends in Cleveland, Ohio. We'll go down to a $30k loan amount. The best way to do it is work with a conventional lender that does a lot of business in Cleveland. Some lenders won't bother because of the lower loan amount.

Hi all,

I live in the Bay Area, but I am looking to do some long-distance real estate investing. I am targeting the Cleveland Ohio area, due to having some family in the area. I’m looking to do smaller 2-4 units in the $50k-$100k range to start.

I have a solid W-2 income, but I am scratching my head as to how folks are getting financing for smaller investment properties. Interest rates are obviously through the ceiling, and no lender seems to have any options for me. If anyone could please provide me with any guidance, I would greatly appreciate it. Thank you!

Hello ladies and and gents. I have a question for those who know the Ohio market, I’m seeing some good deals in Ravenna, is it worth it? All advices are welcomed. Thanks