All Forum Posts by: Michael Craven

@Lucas Beattie Welcome! The Cincy/NKY area is a great area to invest in! Best of luck!

@Stuart Hoffman I’ve used Chris Wharton (as recommended by others here) for a couple of loans and had a good experience.

@Johnson Yu There are a lot of good cities to invest in Ohio. Cleveland, Columbus, and Cincy all are solid. Each has their own unique qualities but all-in-all they are pretty standard midwestern markets. You can also go into some smaller city markets like Toledo, Dayton, and Akron and find some great deals, too. There’s also plenty of good college towns, too, like Athens and Oxford. You really can’t go wrong- you just got to pick one to start and focus on learning that specific market.

@Jay Macarus Congrats on deciding to pursue investing! I second that house hacking is a great strategy to get started. And like you said, you can repeat that process to help you scale. Definitely keep reading, learning the areas of Cincy, and listen to as many podcasts as you can so what when you are ready to jump in you hit the ground running!

@Andrew Cheek You're off to a great start already! I think your ideas of how to grow are pretty good. Definitely hard money is an option if you have a good enough deal. If it looks like you can refi enough out to pay back the HML after 6 months or so then you just need to save up for whatever the lender requires (some still require 20% of purchase price but cover 90-100% of rehab)

If you know any friends or family that can be a private money lender that would be another way to scale a little more quickly.

You could also partner with someone by either doing 50/50 equity and money invested or you could be more boots on the ground and bring less to the table money wise.

Other than that, you could get a line of credit on your current home to serve as a sort of short term loan to your business.

Lastly, many investors do a few wholesales or flips to generate more capital to invest. Biggest downside to long term rentals is that it’s slow to scale at the very beginning but as you can momentum you can start to scale more quickly.

Hope this helps a little, few free to reach out if you want to chat any more!

@Ariel K. Yup I’ll DM you here in a bit!

@Ariel K. I’d give Erin Eckstein a call with US bank in Dayton (I think the Vandalia branch). She should be able to help you out!

@Timothy Carlin I’ve used Chris Wharton out of Columbus with First Ohio Home Finance for a couple of cash out refis and had a good experience.

I also just had a buyer client of mine use First National bank in Cincy and they did a great job with some complicated financials to work with. The contact there is Cameron Cahill

@Vlad Bucur Dayton is a good area to invest in. It’s a pretty standard Midwest rental area. Decent prices, pretty good cash flow. It’s smaller than it’s nearby cities like Cincy, Indy and Columbus. The quality of investment and property also depend on the specific area. Some like specific neighborhoods within Dayton city limits, others like surrounding towns like Fairborn, miamisburg, Vandalia etc. There’s a good mix of single family and multifamily opportunities too. Like most of the country in recent years prices have risen quite a bit so deals aren’t quite as easy to come across but certainly still exist.

@Rynell Hampto Welcome! I am an investor in the Dayton area but just moved to the Cincy area and am also a real estate agent. I’d love to connect and help out in any way I can!