All Forum Posts by: Aaron Mercer

@John Turner You are getting good council. These guys know the Cleveland market well.

The banks will definitely require 25% down minimum and this will only be for the purchase price. All rehab money will need to come from your pocket. It isn't necessarily bad however to show numbers representing 100% financing if you are intending to refi your cash out at a later date once the 'seasoning' period has been satisfied.

Great thread! Thanks @Deborah Tuck, @Daniel Ryu, @Joseph Ball and @Sam Van Horebeek for the info.

I'm an Aussie (non-Citizen) living in California on a work visa and as such I essentially fall into the same pool as a citizen with regards to financing, legal and tax. So to date I've had no problem getting conventional loans for buy and hold investments, although this would certainly change if I were to move back to Oz and relinquish my residency in the US.

For anyone looking to invest in the US, I would echo the comments above about knowing and visiting the market you intend to invest. This coupled with strong property management will be the key to success over the long term.

@Col Watt Welcome! This site has everything you will ever need to know about RE investing. Get onto the forums, read the blogs and listen to the podcasts. Also set up keyword alerts for your areas of interest (including "Australia" as @Helen Rolls pointed out). Good luck.

@Layla Briggs Welcome! This site is the place to connect with all those folks required to pull off your plan. Good luck connecting.

@Riley Giuliano Welcome! Congrats on joining and being interested in real estate investing at such a you age. Stick with it and you have an advantage over everyone else here - time. This is your major asset.

I'm also an Aussie, but living in the US. It's great to see a few more of us on the site (including @Helen Rolls).

@Suzy Crawford Welcome to BP! You've found the right spot for learning about RE investing.

Cleveland is a great market if solid returns are what you are chasing, you will however sacrifice the huge appreciation seen in Cali. There are plenty of folks here on BP that are active out that way and are sure to reach out to you. You have options for investing, from buying a dump and finding a contractor to rehab it, right through to fully rehabbed 'Turn Key' properties. It's up to you to choose which path (and how much effort) you want.

Reach out if you'd like to chat more specifically about areas and contacts. Good luck.

@Charlie McVan Welcome to BP! This is the right place to be if you are looking to invest.

You are in a great market for investing, just connect with other locals who are doing the same thing that you want to do and go from there. There too many members to count here on BP who invest in Cleveland, get connecting. Good luck.

@Amanda Choy Welcome to BP! Keep the cash in your pocket. Everything you need to know about investing can be found here. Hit the forums, read the blogs and listen to the podcasts.

I'm an Aussie (Hunter Valley) living in the US (California) and that $40k can pay the down payment for house in the market I invest. Reach out if you have any questions that I can help with. good luck.

@Ronda R.! He (and his team of agents) is the one you need to be chatting with out that way if you are looking for a one-stop-shop, with purchase, rehab and management all wrapped up. His company is investor focused and can set you up in anything from a SFH through to a 43-unit apartment. It is the property management that will be the most important aspect in the long run, and although we don't work with HWPG, their reputation is second to none.

Good luck1

@Ronda R. Welcome! You certainly stumbled onto the right site. The content in overwhelming, but any info you need about RE inventing can be found here.

I also live on the Central Coast and work between Paso Robles and Santa Maria, and also invest in Ohio, although Cleveland not Akron. Reach out if you want to meet up and chat investing.