All Forum Posts by: Todd Hensy

Hi fellas,

I want to buy this 650k apartment complex for a second income. The problem is I only make 35k per year. How do I go about getting a loan for 650k?

http://www.loopnet.com/Listing/20106012/3793-Cleveland-Ave-Columbus-OH/

I like to buy rentals  in D and warzone areas. Easier to get tenants to occupy the house.

The internet has bad information.

The saying goes..."where there this is explosive job opportunities, then explosive real estate follows." 

 SOMETIMES THESE LISTS ARE BOGUS. 

For example, the labor index in 2012 said .."Des Moines, IA had explosive job growth and unemployment rate of 3.5%. So I moved there wanting to get a decent paying job.

I discovered the mega-job growth was in the retail sector paying a measley $8 dollars an hour. Anyone could get a job at Walmart or Menard's --everyone was hiring. But there were no high paying salaried jobs anywhere. So I left Des Moines the next year.

Makes me wonder why Tampa, FL is on the list for hottest real estate markets. I lived in Tampa before I moved tor Des Moines. I had bought a condo in Florida years ago and ended up in bankruptcy after I was laid off from my job in 2010. THERE ARE NO JOBS IN TAMPA, so therefore the RE market cannot be that hot. Yes, I tried renting out my condo and had a lot of renters but most of them were poor rental prospects because nobody had jobs! I couldn't even qualify most of them.

I could see wealthy retirees gobbling up rentals and homes in Tampa. But how is the RE market hot there? I left Tampa in 2011.

What are your thoughts on these lists?

Top 10 Cities Offering the Most Opportunity for Real Estate Investors, 2016

1. Dallas, TX
2. Portland, OR
3. Denver, CO
4. Miami, FL
5. Tampa, FL
6. Seattle, WA
7. Nashville, TN
8. Atlanta, GA
9. Houston, TX
10. Austin, TX

That is some good information. I will research on Bigger Pockets for optimal market conditions across the country.

Columbus, OH is a sellers market right now so I am waiting for a turn around. Plus the FEDS just raised interest rates.

However, someone once told me...."look for the best deals in the best neighborhoods" whether in a down market or up market.

Thanks for the information.

Owning rental property seems too risky. Read this article and tell me your thoughts....

http://www.interest.com/refinance/advice/owning-re...

Hey guys,

What is the best online real estate resource to study real estate markets?

How can I be a dealmaker if I don't know the RE market? I would like to invest in foreclosures, apartments, or a SFH. How can I do that if I don't know the market or if the market is hot or not? Plus I would like to know where the hot markets and down markets are across the country?

Good sources that are reliable? Realtytimes?

Thanks Jeff for the links to these websites I will check them out.

Great tip on sticking with properties that are already bank-owned or REO.

I like the "Driving for dollars" can easily net you 30 houses in an hour in the right locations" tip. I will try that first and keep it simple.

Good call on the banks --I never got anywhere with them. I will check out the real property central appraisal district.

I am going to find Jerry Holt too.

Thanks ladies.

Hey everyone,

I am a first time homebuyer....well actually ..I am  a 2nd time homebuyer. I actually filed for bankruptcy a few years after my first real estate deal. I was crushed.

I bought a condo in Florida priced right(100k) in 2006 and then the market tanked and I got laid off. I lost everything. It was a terrible period.

Anyway, After 10 years of living in an apartment, saving some money, I wanted to pull the trigger again and buy a SFH and buy smarter this time.

I am looking for a SFH foreclosure or a duplex foreclosure.

Anyone know where to start to find a foreclosure? Which are best websites for foreclosures? Should I call the banks? I live in Columbus, Ohio.

Thanks.