All Forum Posts by: Zachary Yurch

hello everyone!

I'm kind of stuck when it comes to the next step on my REI path. I bought a house in Hilliard, OH on hudhomestore.com as an owner occupant last September. As part of the agreement I have to occupy the house for a year.

My goal is to buy a duplex in downtown columbus and live in one side, rent out the other. I'm going to begin direct mailing and driving for dollars soon. My question is what if I find a deal before I am able to move out of the hud foreclosure? Should I wait until September to begin looking? If I wait what would I do with that awkward time where I have no place to live while I look for a deal?

I'm sure someone has run into this situation before! Any help would be greatly appreciated. 

P.S. sorry for any typos/ run on sentences!

any idea what a 2br 1ba side of a duplex would rent for in 44111?

@Federico Gutierrez

Thanks for your input! I've seen several posts of yours on BP and I really appreciate it. 

What suburbs would you suggest? I'm originally from Avon Lake so I'm more familiar with the west side.

Hi All,

I've been browsing BiggerPockets, reading real estate books and listening to podcasts for about a year now. I've soaked up as much knowledge as I can without taking any action, so it's time to get out there and do it!

I am looking at investing in the Lakewood, OH area, I have seen a couple duplexes and 4-plexes that interest me. However, I have the typical newbie real estate investor problem, lack of funding. I only have about $10k in the bank and anything that doesn't need rehabbed in this area is at least $100k.

My Solution:

I want to use the BRRR strategy on a 4 plex I found in this area and use a hard money loan to purchase it. Does anyone know of a hard money lender in the Cleveland area that I could reach out to? I've been looking online for a while but I am skeptical of a lot of the companies I have found. I'd prefer to work with someone local.

Again any info on local hard money lenders would be greatly appreciated!