All Forum Posts by: Nathan Slemmons

I'm looking for a broker to hold my RE license in Ohio. I have a full time job, which I need for my family, but am doing RE investing on the side. I would like to find a low cost broker so I can get my license. I can't do RE full time right now but would like to continue working towards that. Any suggestions on investor friendly brokers?

Hey Jon - I haven't purchased any properties in Sidney but I have been there to look at a few. I like Sidney, it seems like a stable town with pretty good growth. I would recommend it. Most of the duplexes you will find are going to be in blue collar areas but there's some fairly decent properties there. Reach out to Tim Gleason at Realty 2000 Group. He should be able to help you out if you end up going there.

 Those are all real possibilities and I'm fine with those as a new investor to the area. My concern of course is he knows something I don't and that something could put me in dire straits. 

I reached out to a realtor and asked. I will see if I can get a hold of him directly too.

Thanks for the feedback!

 Population growth has remained relatively stable.

Population: 20,777

Median Household Income: $47k

Poverty Rate: 14.6%

Employment Rate: 62%

I did reach out to a realtor to see if they had any insight.

Howdy all.

I have been looking at a duplex in a fairly small town (22k residents from 2010 census) but has a decent number of employers including a major auto manufacturer nearby. 

The property is listed for $50k. It's an old house and needs some updating. I'm guessing around $10-$15k. On paper it looks like a decent deal and would cashflow very well without leverage and then very little depending on the level of leverage against it.

This week as I was looking at other properties in the area I found a sudden glut of rental properties in this town. After some quick research I found that the seller is a local investor who also runs a property management company. 

This sell off has me a little rattled as far as the market in this town. It also has me concerned that the sell off will affect potential appraisal of the property I'm looking at since he is selling several duplexes at around the same price as the subject property.  Any advice on how to gain more useful information as to why this guy is selling his investments? 

I'm feeling the same strain here in central Ohio. The market here has seized up and good deals are few and far between. I have been looking for months and found some decent properties but have been waiting on getting a better opportunity. I think the important thing is DON'T GIVE UP! As soon as you quit one will pass you by. The market as a whole has been very strong with the economy doing so well and mortgage rates being low. Real estate is cyclical and it will change in the future. Try to prepare now so you can capitalize on opportunities then. I would encourage you to not focus completely on getting all your money out but focus on your income and expense for a potential property. If you aren't finding good single family opportunities, make sure to look for multi-family as well. They can provide more cash flow with similar expenses. And don't forget you are also working to build a portfolio that holds income generating assets. You are building equity as you pay down the mortgage which will help position you for future investments. And one last thing. This will take time. This, like any investment, is not a get rich quick scenario. It will take time, patience and persistence.

 Richwood Bank

This isn't necessarily for a 4 unit. This is for a general $100k loan with a value of $125k considering an 80% LTV.

 It would be as an individual.

I would be putting the refinance in my name as I plan, initially at least, to operate as a sole proprietor. 

I didn't feel great about the ARM as well considering it would continually be difficult to ensure cash flow on a property with a variable rate.

I would not be occupying the property. It would strictly be for investment purposes.