All Forum Posts by: Colby Zeller

Hello BP, I am writing this today to ask a question about the lender Im currently working with. Im amid the pre-qualification process at a local bank, and heard back that the lowest down payment they offer for a primary residence loan on a small multi-family property is 15%. Throughout my research, Most sources have told me if I am planning on using a FHA loan, I should be able to get a down payment of as low as 3.5 %. Does the home have to be a single family home to get that low of a down payment ? Does it differ with small multi-family ? Any with information on the topic would be a great help thanks !

 thanks for the advice Ray !

Hello Bigger pockets, Today I have a question regarding on how I should move my capital before I look to buy my first property. I'm looking to househack, and wondering what is the best route to take for my banking purposes. I recently read in a book that suggested I should open a dual checking and savings account, and take the security deposits from my future tenants and store them in the savings account, then use the checking to pay the mortgage or maintenance fees. Right now I have one checking account, and a Individual brokerage account with most of my capital liquidated, Im debating If I should open a new account before I get Pre-approved, or wait until I buy a property to do so. Any information or suggestions would be awesome thanks !

Welcome to BP ! I too am starting my journey out in Ohio, and am new too investing, Ohio is. great place to be ! If you have any questions don't hesitate to reach out and again good luck.

 I was thinking the same thing, thanks for validating my opinion !

Hi BP, Im here on the forums today due to  A important family matter, I recently had A Uncle Pass away, and with no next of kin my mom received the title of administrator of the estate. He own a single family home with 2 beds and 1 bath, the address is 216 S Buchanan St, Fremont, OH. The home is in pretty bad condition and needs a-lot of work, Seeming to be a great opportunity for me to get my hands into the fix and flip game. The only problem is I live 4 hours away and the home might need a-lot of capital to fix up and I don't know if the juice will be worth the squeeze. I also plan on buying my own house hack before the end of the summer, just don't want too much on my plate for just starting out, any advice or words of wisdom would be appreciated thank you !

 Columbus is a booming market for tons of room for growth ! Many jobs and people flowing into the city ! Not sure on Cleveland market but wishing you the best of luck 

Hello BP forums ! Making this post today because I've found myself low on good books to read ! I plan on investing in multi-family soon once I have saved up enough capital, so any books on multi-family investing, or really anything investing related would be awesome ! Ive read most of the books recommend from Bp Podcasts just a F.Y.I.   

I'm not experienced in either, but in my understanding it can be quite difficult building a house from the ground up. The fix and flip can be very lucrative in the right market/neighborhood, if your starting out I'd recommend Fix and Flip !