All Forum Posts by: Michael Ohara

Hey @Marquis Campbell, you're right, the pandemic has affected lending, but lending is starting to loosen up. I was just on the phone with some people looking to fund their projects.  All the best.

You most likely won't get a loan because the amount is too small, not because you don't own any properties.  Typical minimum is $75K.  Some lenders can do less.  Nevertheless, there are some moves you can make with $50K, especially in Cleveland. All the best. 🤙🏽

Hey @Delvon A Byrd, welcome to real estate investing. Cleveland is a great market, as I'm sure you know.  All the best.

Welcome @Yuval Molcho! Cleveland is a great market. And I feel you on the time difference 😀. All the best.

I live in Hawaii, invest in Cleveland, and my CPA is in N. Carolina.  Seems to work for me.

Have you considered out-of-state investing? or are you looking to get our of SoCal altogether?

Seems student debt would be "less costly" than using cash to catch-up your mortgage and the ding you may take from some lenders.

@Samuel J Meyer minimal interaction with the investment can be done through private lending or syndication deals. I've done both and they are very passive.  All the best.

The problem with rule of thumb is everyone has different thumbs.  Use the rules as a super broad guideline, but best to understand how investors in your market are analyzing deals.  👍

Can't sell, can't rent typically means the price is too high. A quick look and the ARV is ~$180K. At $160K purchase price not a lot of meat on the bone. I would pass. All the best.