All Forum Posts by: Shanae Swaby

Hello all,

I’m interested in investing in the Watertown/Ft. Drum area from out of state. Are any realtors or property managers here and want to connect?

@Christopher B. Sure!

@Stone Jin That would be ideal but I don't have the capital to buy a cheap duplex AND put a down payment on a home. I am trying to do a low down payment.

@Daniel Kramer Thanks for the insight!

@Daniel Kramer Is Sylvania a longer commute than from Bowling Green? 

Hi all,

I recently accepted a job opportunity in the Toledo area (near Owens CC) and want to purchase a multi-family to celebrate! My plan is to purchase a duplex, live in one, and rent the other to start in real estate investing and I am looking for area recommendations. So far I've been using online sites to look for properties in Sylvania, Maumee, Perrysburg, Rossford, and Bowling Green. I want to look in Toledo as well, but am not sure of what areas to look into as everyone has suggested living outside the city for better schools. Since I want a home for residential AND investment purposes--I may or may not stay in Toledo long-term--what are some areas good for living and renting? I want to be within 20 minutes driving of work and good schools are less important to me personally (for now!) as I have a child entering preschool.

Thanks!

Thank you everyone for all of the advice! Looks like I should stick to SFRs or a duplex as my first investment.

Hi all,

I am a first time investor looking to buy and hold in C, D neighborhoods. Am I crazy??

I have very limited capital to start (<$15k) but want to buy a 3+ unit multi family in Detroit, Flint, Toledo, or Cleveland with either a land contract or mortgage. I’ve seen renovated properties in these areas for <$50k, but they’re in the less desirable parts of the cities. Some even already have tenants so instant cash flow is possible.

I know the risk of less desirable tenants in these types of areas but the risk seems worth the cash flow reward. Is this a generally good way to enter real estate or is investing in these neighborhoods something better for experienced persons?

I would especially love to here about experiences renting in Flint, Toledo, or Cleveland. I have more knowledge on Detroit from personal experience and BP.

@Travis Biziorek Do those loans accept less than 20% down?

@Christian Hutchinson Housing values should be appreciating now. There's a lot of speculation on what values will look like in the next 1-5 years so it will be interesting to see how things play out.

 Access to capital is my biggest blocker right now. I hear banks don't write many mortgages for <$50k so I was thinking about getting a land contract or another type of hard money loan for the purchase. My dilemma is choosing between a flip to build capital faster, or use my limited capital for a down payment on a multi-unit to build passive income.