All Forum Posts by: Drew McCrory

Some agents require an exlusive agent agreement still but many do not. It was more common practice years back ensuring that the agent wouldn't put in a ton of time prospecting homes, scheduling appointments and showing houses all for the client to buy from another agent or a FSBO. These days many buyers are hesitant to sign the agreement so a lot of agents stop requiring it. Also, (this may differ state to state) but in Ohio if your finding homes on the MLS the seller will be paying your agents commisions, not you. Actually many FSBO will even agree to pay the buyers agent a commision for finding them the buyer.

Hello, you can check out Hudhomestore.co m to find current properties that are available to bid on. Once you find one their will be an addendum tab with the forms and due dates that need to be submitted to the assigned asset manager. It could help to find a realtor who works with foreclosures or even specifically with HUD as they will be more familiar with the forms used as well as the process. Hope this helps.

@Hunter Locke Very true Hunter. Oddly enough the comparable homes in Toledo and the college town rent for around the same price, but Toledo still seems to be a bit cheaper. Maybe because their is higher competition in the smaller college town keeping the rents lower? not really sure. Either way, I will for sure pay attention to the 2% rule. Thanks for the advice. 

@Frank Geiger Very good point Frank. As a new investor I'm torn between the 2 strategies. What's so enticing about the college rental game for me is their will always be students needing a place to rent every year, so less chance of vacancy. However you raised a good point about getting stuck over summer breaks. I'll certainly have to do some extra thinking about this. Thanks for your input!

@Melissa Barnard Good idea Melissa, and I plan to continue learning as much as possible before I make the jump. A lot more BP podcasts to be listened to lol. Thank you for the response. 

@Melvin List Thanks for the advice, I will definitely do that.

Hello everyone, 

I'm a newbie here on BP and just created my accounty today! I am currently in the military and will be getting my VA home loan benefits in a year when I get back from my deployment. I have a plan in place to buy a 4-plex and live in one of the units for a year and also negotiate closing costs to minimalize my out of pocket investment. However, I am conflicted on whether to invest in a college town where properties are a bit more expensive but will for sure be rented out by students with parents on the line as co lease, or in Toledo where property prices are a bit cheaper but finding tennants may be a bit tougher with more expenses. On the other hand I have a thought that in Toledo the chances of tennants staying longer are greater than in a college town which will lower expenses.. If you could could all give me your great input I would really appreciate it. Once again I have never invested before so any advice will help. Thanks!

Hello everyone, 

I'm a newbie here on BP and just created my accounty today! I am currently in the military and will be getting my VA home loan benefits in a year when I get back from my deployment. I have a plan in place to buy a 4-plex and live in one of the units for a year and also negotiate closing costs to minimalize my out of pocket investment. However, I am conflicted on whether to invest in a college town where properties are a bit more expensive but will for sure be rented out by students with parents on the line as co lease, or in Toledo where property prices are a bit cheaper but finding tennants may be a bit tougher with more expenses. On the other hand I have a thought that in Toledo the chances of tennants staying longer are greater than in a college town which will lower expenses.. If you could could all give me your great input I would really appreciate it. Once again I have never invested before so any advice will help. Thanks!