All Forum Posts by: Louie Mikros
Louie Mikros has started 4 posts and replied 8 times.
Post: New to cleveland, looking for first house hack deal
- Posts 8
- Votes 7
Greetings to all!
SO i pulled the tigger, left San Antonio Texas 1 week ago to start my REI journey here in Cleveland. I am currently staying in a room in the west boulevard area on an airbnb extended stay ready to purchase. Ive been analyzing deals for a month now and finally started to drive around all the pockets and areas on the westside of Cleveland. I have funds ready, lenders ready & an agent. As for most i have read tons of books, hours and hours of podcast & also took a mastermind class. For some reason, I am over analyzing everything now that i am here. Some of the properties I have analyzed ( conservatively ) have great returns fitting my goals but the areas are c- ish. Househacking is forcing me to live in these areas. A lot of duplexes are sitting on the market now for some time. feeling stagnanted on my first move.
Any tips or advice? I have realistic expectations on my first deal as i know it is a catalyst for everything to come. I just need to move the needle and i am ready !
also are there any meetups or networking events happening round the city. I know i need to and want too be around more investors who are at my level and above. Surrounding myself with likeminded individuals.
thank you !
Post: New Investor looking to house hack Small multi
- Posts 8
- Votes 7
Quote from @Ryan Thomson:
Hey @Louie Mikros I would connect with a house hacking realtor. Get a great house hack to start. Then you can try to do all of the off market or 203k type investing after your first one. Don't overcomplicate it and try to swing for the fences on the first deal. It will just hold you back with analysis paralysis and trying to find something bigger and better.
I absolutely agree. lots of thoughts and information is causing me to over think every single route to take when the simple route to take is the one to just get started and look for a hit to get me to first base not a home run! thank you for your insight ryan !
Post: New Investor looking to house hack Small multi
- Posts 8
- Votes 7
Quote from @Ben Rhodin:
Hey @Louie Mikros! Definitely don't reinvent the wheel here. You are already past the first step of understanding what you are approved for. Now get connected with a great investor realtor that understands your goals and objectives and they should be able to take it from there. No need to go off-market for your first one, or a house hack, as a lot of the time they will be cash-only deals and you won't be able to take them anyway. And a good realtor will be tied into these markets anyway.
Another thing to note, a 203k loan will be a lot less attractive as an offer, due to their increased timelines and headaches. So they are a great product if you can get it done, but I wouldn't limit yourself there. There are other options if you need to complete a rehab.
Post: New Investor looking to house hack Small multi
- Posts 8
- Votes 7
Quote from @Lucia Rushton:
@Louie Mikros where are you looking to move ?
hi Lucia. I am in San Antonio!
Post: First time Investor looking to househack 2-4 unti
- Posts 8
- Votes 7
Greetings to all. I am looking to house hack in small multi 2-4 unit. I currently moved into a room from a 1 bedroom apartment just to cut expenses which was a huge sacrifice but surely important! I have already been pre-approved and have lenders. I am also looking to use the 203k loan if needed in a property that has add-in value which im seeing is the majority of multis here. The reason why i am posting is because i know i need to start networking & opening some doors & hoping to connect with anyone who has connections to off-market deals or even any advice. As i see we all start somewhere. Any feedback would be greatly appreciated & thank you for taking the time to read !
Post: New Investor looking to house hack Small multi
- Posts 8
- Votes 7
Greetings to all. I am looking to house hack in small multi 2-4 unit. I currently moved into a room from a 1 bedroom apartment just to cut expenses which was a huge sacrifice but surely important! I have already been pre-approved and have lenders. I am also looking to use the 203k loan if needed in a property that has add-in value which im seeing is the majority of multis here. The reason why i am posting is because i know i need to start networking & opening some doors & hoping to connect with anyone who has connections to off-market deals or even any advice. As i see we all start somewhere. Any feedback would be greatly appreciated & thank you for taking the time to read !
@Nicole Masters thank you for your response and time ! Im big on the attraction and location as well as I continue to Learn my market your feedback is greatly appreciated !
Good morning y'all. I moved to SA one year ago from New York. My lease is up in january ( currently living on the far west side). Househacking is my step into the door. multi families seem more scarce here and are in unfavorable areas. i have been adjusting my strategies & know i can also start with a single family. i have a couple questions.
what are desirable areas in SA that if buying a single family home would be a great start for househacking. Thinking of renting rooms or airbnb. i know medical center and UTSA are high volume areas which im seeing is more the north side.
Would it be a smart investment to go ahead and buy a duplex in a more undesirable area at the moment and fix it up. i know rent is much lower in those areas as well. seems to be more class c areas.
i Am working with an amazing realtor but still wanted to get on here and hear other peoples feedback or advice. Is anyone else houshacking or in a similar position renting rooms or owning a multifamily.
I have so much to learn and grow from as i know my journey will present obstacles & challenges. Any feedback would be highly appreciated. God bless & thank you for taking the time to read my post :)!