All Forum Posts by: Lilah Johnson

@Justin Phillips thank you! I'll definitely look more into the first position HELOC.

Hello all. I'd appreciate some guidance or validation in my plan below. I am a first-time investor that has been researching my butt off for the past few months and am very appreciative of this forum. So much information and resources! 

I'm pulling the trigger and getting started in real estate investing after reading all that I can get my hands on and educating myself. 

I have saved about 40-50K to use as a downpayment on, hopefully, two three-unit or quadriplexes in the Ohio area. These would be buy and hold. 

I'm currently in the process of taking out a Heloc on my primary residence of up to 100K that I just want to have at my disposal until I have saved enough cashflow from those properties to support any repairs, vacancies, etc. 

I then plan to reach out to banks in the Ohio area to get preapproved for a mortgage so I can have that on hand. 

Afterwards, I will reach out to agents and property managers in the area to find properties. 

Am I on the right track? Any ideas or advice would be appreciated. 

I'm researching this area and wanted to know if there is anyone on biggerpockets that can provide some insight on this area. How are the vacancy rates as far as rentals? Is it true that they are high? Any other info you could provide would be helpful as well. TIA.

Hello all - 

I'm a registered nurse based in California looking to start investing in out-of-state multi-family properties, hopefully within the next year. My goal is to hopefully own at least 25-30 doors in the next 3-5 years, each cash flowing at least 400.  Since this is all new to me, I am doing my due diligence by reading all of the books I can possibly get my hands on, absorbing all the Youtube videos I can watch, podcasts, etc. I think I've narrowed down that I'd like to invest in Ohio. 

I also don't know how this would work if I've never been to Ohio. Are there particular zip codes I should avoid buying in? Secondly, Is there a way to buy property remotely without ever having stepped foot in the property or would I need to prepare to request time off to be present during the process?

Really, I have a thousand questions, or so it seems. Any advice anyone could give me would be greatly appreciated. Thanks in advance.