All Forum Posts by: Ronald Green

@David Terbeek Very valid insight. Thank you. Since I am still very new to real estate investing, it would be ideal to do as much myself as possible in order to learn but since I'm out of state i don't know how easy that would be. 

I assume as well that the less you do yourself and can rely on a company to do that for you the more money you give to those agents...

Any way, there are things I am comfortable with doing myself, insurance, legal and tax, but contracts are a gamble wherever you are haha. 

Those neighborhoods seem prime for what I am looking for. Something that doesn't require too much hands on work i.e. leaky sinks, plumbing issues, and miscellaneous yard work. I will definitely start looking more into them. Ive been looking in the area immediately surrounding the University just east of downtown (i believe)

Thanks! 

Thanks @Tom Ott I haven't forgotten about you!  

Im a newbie investor looking to get started in the Cleveland, OH market. Ive heard that most people getting solid ROI's are purchasing Single Family Homes in the west side of Cleveland. Would it be smarter to look into both SFH's and higher volume multi families like 8-plexes and skipping out on the duplex and 4-plex market? or to just focus on SFH's in that area?

Also, for those Do it yourselfers, have you seen a significant difference in finding the properties, running the metrics, and vetting out the market yourself or would you recommend jumping in with an established local investment firm? **Im out of state so the whole boots on the ground method is out of the question at the moment. So, my options essentially are finding a local individual agent and work it out with that person or use an investment group.

Thanks in advance for the input! 

Cheers!

@paulellis

I choose the 600 ;)

@DanRivera

I knew the properties had to pass certain safety concerns but i didn't know the 75% income ratio. 

Ill make sure the math is right before putting down an offer.

The property I'm look at right now is a 4plex renting at 600, 700, 700, 775. 

Payments according to my math should be around 1900-2050 depending on taxes and fees.  so i think I'm cutting it close.

If i can add something here,

In my current situation i have a small dog and am purchasing a home but need somewhere temporarily to stay. finding an apartment is kind of a night mare because most places require 6-12 month leases. A multi unit property is perfect because i can explain my situation directly to you (or whomever the landlord is.)

People like me prefer human relations rather than going through a huge corporation that doesn't care about you or your cash. I know what my cash means to the land lord and so theres a mutual respect there where as an impersonal environment of a huge complex chases away whatever fleeting feeling of home they attempt to replicate. 

@brieschmidt thanks for the input! Cash flow is the main goal so ill keep that in mind

Im looking for a multi-family property and am trying to find an affordable option to purchase. After speaking with some investor friends of mine i received the advice to "Max Out" the FHA Loan because its the only shot ill have at getting a property with such little cash down. basically i could look for a Duplex at less than 300k and never have to worry about vacancies OR purchase a larger fourplex for 500k and increase the cash flow margin but have a much larger mortgage.

How wise is it to use my FHA loan for the maximum amount?