How I invested in Lorain, Ohio.

8 Replies

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lorain.

Purchase price: $174,000

3,000 square feet. Duplex. 3 bedroom 1 & 1/2 bath one side with 2 car garage. 2 bedroom 1 & 1/2 bath other side.

How did you find this deal and how did you negotiate it?

I did a lot to research online about different areas population growth. I also, had to place over 9 bids prior to this deal as I did not want to put any money down including closing costs. I managed to find someone who really wanted to get out of the rental game and was more than happy to pay everything.

How did you finance this deal?

Va home loan

Nice job! Did you have a hard time finding a property manager? I'm endlessly searching for someone to do tenant placement services in Elyria with no luck. I'd like to self manage for the most part but need someone on the ground to hand off keys, showings, etc. PLEASE let me know if you have any leads.

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