All Forum Posts by: Account Closed

Robert,

Thanks for sharing this. It's really interesting to see actual numbers for an area that has historically been less valuable.

I drive by this neighborhood frequently, and even in a red hot market like Columbus it seems like 71 is the divider between where to invest and where not to. On appearances alone, the homes on Weber and N Broadway are much better kept than those on the side streets, which haven't quite caught the wave. 

Do you have a similar analysis for areas like Vassor Village, Linwood (Berwyn East), or others that are adjacent to the already established neighborhoods? 

Best

Remington,

I did mean Ohio (where I'm currently located). I'm still getting used to the BP forums and couldn't find the right one using the search, hence the dumb question. Thanks for the quick response though.
 

 Kevin, thanks! That is the one.

I can't find it using the search, I only see this one for Columbus, GA.

Thanks.

Eric, 

Thanks for the insight! I think you're right and I'll just have to keep looking. 

Hello,

I am a first time investor looking to house hack a duplex. I have identified a property for sale that has both units occupied, with one tenant month-to-month.

Even at the seller’s asking price, this property has an attractive cap rate and rent-to-purchase ratio, using very conservative estimates for rent per sqft in the area.

Both units are livable and could pass an FHA inspection, but a cosmetic update may be in order. I have FHA financing (3.5% down) for up to $50,000 more than the seller's asking price.

Here’s the catch - this property is two single-family ranches on a single parcel.

Once my lender noticed this, they said I cannot do a residential loan and would instead need commercial financing, which they do not provide.

So, I am looking for one of two options:

1. 1. A way to find a commercial lender who will finance a parcel with two single family homes, one of which will be owner occupied, for around 8% down (10% absolute max).
2. 2. A way to find a residential lender who will finance a parcel with two single family homes, one of which will be owner occupied, with an FHA 3.5% down loan.

Thanks in advance. I would hate to see this great deal go by just because the two units aren’t physically connected.