All Forum Posts by: Account Closed

I recently refinanced my house and in the process of selling my old home. Proceeds from the two will put in good position to buy something bigger as an investment. My ultimate goal is to rely solely on my investments as I get older. What should I do if I had $50k to invest? I've been looking for several months and found some interesting investments in MHP and multifamily. I just recently got hired on full time as previously I was a contracted web developer.  This way it will be easier for me to qualify for a new loan. I would love to have something turnkey where I work with a management company and fully open to invest out of state. Where should I start?

Located near many apartment and across from a park. Asking @200k.

Does anyone know of Little Richmond or Wright View?

@James Wise - Agreed but low prices doesnt mean its a good investment. While Cleveland proper - east side or west is cheap. I would never throw my money there because of the crime and little capital being invested.  

The outer suburbs are a different story but that will definitely come with a premium. From what I've seen, 10 units or more go for at least $25/unit on the cheap end. My father owns a multi-family in Lakewood and he paid $40k/unit which I think is much. Especially, when you add in all the expenses.

Prices are rising here and it is difficult to find a good multi-family building. I'm looking for something with at least 10 units. Plus, taxes in cuyahoga county are on the rise as well.

I'm trying to get into multi-family. How strong is the rental market there? Any areas to avoid? Alot of the properties I'm seeing are either on the North or West side.  Is this a desirable area.  From the listings, I dont know what neighborhoods they are in but can just tell from the map their relative location.

Also, what are major employers in the area?  Is there a solid employment base?

I'm just analyzing the deal now but I talked to the owners son. His mom owns and manages the property. She's getting older and he wants her to sell. Plus, he said that there is some work which needs done. I'm not sure if they want to put anymore money into it.

I havent talked to a lender but its a multi-family with 50% occupancy.  This is a 10 suiter.

Does anyone have any experience in Dayton, OH? All I know about Dayton is UD and Patterson AFB.  I recently found a few properties but I am unfamiliar with the city. Any info would be much appreciated. 

I am looking at a property which isnt fully occupied. Is this a problem when going for a loan?