Oh yeah, those are the fun times

I recently purchased my first property in Cleveland Ohio.

I could tell you the details I think matter, like saying "oh, it's all about compound movements, screw traps, forget lat's, just do compound all the time" but is that the right detail for you?

I am a real estate agent and investor based in Columbus, Ohio but also have done deals and investments in Cincinnati so I'm familiar with the market.

One of the stipulations cited skims over the issue, but there's a whole lot more to it than just saying "I want the loan in my LLC now and oh, yeah, I don't live there; Never have, never will." 

Your market may have something to do with it also.....in the San Francisco Bay Area many people will NOT get a 50% rule....I would imagine in Miami it's the same thing....however....if you are investing in certain areas of the midwest .....Ohio, Tennessee, Missouri or Wisconson....50% rule should definitely be a deal breaker because if your property does not meet it....then move on.

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

Or are you hoping you click a button or send a text and someone says oh my god thanks for calling I would love to sell you my house?

Columbus, Ohio is a great market to consider if you're leaning towards appreciation.

I moved from Florida to start investing in Columbus, OH.