Aspiring multi family investor
I am going to MSU currently and beginning to look at investment opportunities! I am a marketing major with a minor in entrepreneurship.
Hi Jackson! Welcome to BP. Would love to connect!
Welcome to BiggerPockets! You'll find a great network here. Make sure to set keywords based on your location and strategy so you can stay current on conversations.
Quote from @Jackson Keefe:
I am going to MSU currently and beginning to look at investment opportunities! I am a marketing major with a minor in entrepreneurship.
Welcome!
Lansing, Ypsilanti, and Toledo are pretty good markets to check out.
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Real Estate Agent Ohio (#SAL.2021003852 )
- 614-412-4610
- https://www.reafcorealestate.com/team/anthony-amos
- [email protected]
If you would like to check out the Toledo market let me know!
Welcome to BiggerPockets! You have hit the JACKPOT of resources for real estate investors. You can literally find answers to all of your questions within the confines of this site. What’s the best way to get started using BiggerPockets?
1. Subscribe to the BiggerPockets Money and Rookie Podcasts
2. Attend the FREE WEBINARS
3. Attend a Meetup in your area/virtual meet ups
4. Purchase the Beginner Books: How to Invest in Real Estate, Set for Life, The House Hacking Strategy
5. Peruse the forums! Ask questions! Answer questions! If you are consistent with learning real estate over the next 4-6 months, you’ll be ready to purchase your first (or next) property in NO TIME!
Good Luck,
Kenny
Hi Jackson! I'd love to chat with you and provide you with some advice so you can begin investing!
- Evernest
- (248) 920-9011
- https://www.evernest.co/
- [email protected]
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#2 Mortgage Brokers & Lenders Contributor
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Welcome Jackson!
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Welcome, Jackson!
Hi Jackson, what is your "why" for wanting to start with a multi-family unit? Welcome to BP!
Quote from @Jackson Keefe:Have you looked at other areas of the MidWest? Dayton? Toledo? Cleveland? Akron? It is going to come down to what kind of market you want to be in. Detroit and Cleveland have bene prosperous for some of my clients who like primary markets. Akron, Toledo and Memphis have been great asset adds for my clients who like secondary markets.
I am going to MSU currently and beginning to look at investment opportunities! I am a marketing major with a minor in entrepreneurship.
Toledo is a very unique market, and you’re going to find that we are different from all others, not to mention, extremely low purchase prices on fixer-uppers as compared to their retail value. The need for quality residential and commercial space has become astonishing, making the right investment in Toledo is sometimes not easy with so many different projects to choose from. Whether it is Single-Family homes, Multi-Family homes, mixed-use, or any other type of property, with such high demand in Toledo, it rarely stays on the market for a great length of time.
Some reasons why so many investors are talking about investing here include:
- Low inflation
- One of the safest cities in Ohio
- Low cost of living
- Growing metropolitan
Toledo Investment Properties are providing investors with a uniquely comprehensive platform that makes Toledo a logical place to invest in. The area is always expanding the business district as well as downtown, from Access to low-cost regional talent, competitive real estate costs, strong work ethics, and excellent facilities for sports, shopping, leisure, and healthcare.
Love to learn more about what your goals are, I think that will help you identify what you are looking for specifically and what might work and not work for you.
Hi Jackson, welcome! Would be happy to connect with you about your investing plans!
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Quote from @Jackson Keefe:
I am going to MSU currently and beginning to look at investment opportunities! I am a marketing major with a minor in entrepreneurship.
Welcome aboard Jackson
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#2 Managing Your Property Contributor
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If I had to start all over again, I'd look to acquire a 2-4 unit property with an FHA low-down payment mortgage.
Getting it under market value would be a bonus.
So, would using an FHA 203k renovation loan, which would allow me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.
Hopefully, I would increase the value of the property in 1-2 years and be able to refi out of the FHA mortgage. I'd also learn a lot about maintenance and managing tenants.
Then, with my hands-on experience, I could decide if I wanted to repeat the process or target 5+ units - which my experience would help with lenders.
Good luck with whatever you decide to do!
