Looking for financing in Dayton and Cleveland Ohio

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Looking for financing in Dayton and Cleveland Ohio

Ozzy SmithPro Member
Specialist · Dayton, OH · Member since 2014 · 352 posts · 265 votes

I'm a local flipper, wholesaler, and buy and hold investor in Dayton OH.  For the past several months I have done a number of wholesale deals and have generated some cash that I'm looking to use to expand my portfolio of buy and holds.  Here in the midwest we have a catch 22 when it comes to real estate deals.  Our price points to purchase are low with great rental income which makes buying very easy and attractive, but the catch is it's almost impossible to get financing due to low loan amounts.

I have been very successful in finding the good deals but unfortunately can't pay cash for all of them. I'm looking to see if there is anyone in BP land that would be interested in being a PM lender on a few of these.

Typical deal would be SFR with loan amount of 20-35K with solid comps of 40-60K and rents of 600-800/m. I'm willing to put 20% down on the deal and these are not rehabs. The typical deal would be basically rent ready units or tenant occupied units and a property manager handling the tenants and rent collections. I have a few active rentals currently generating nice cash flow that I own F&C and now looking to leverage some funds to acquire more assets.

If this is something that might be a fit for you please PM me or give me a call to discuss terms.  If you would like to see for yourself the type of deal that I'm looking at you can check out full details on our website of houses we offer as wholesales.  These would be very typical deals that we would like to start buying and holding.  Thanks in advance.  

TYPICAL DEAL LOOKING TO FUND

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