All Forum Posts by: Mitchell Toney

@Steven Foster Wilson

Awesome job man! Looking around in the Columbus market myself and would love to connect and chat!

-Mitch

@Alexa Warford

Thanks for the awesome advice Alexa! I had never considered that before and it definitely sounds like something I'd be interested in at least trying. That definitely puts me a little bit more at ease knowing that this idea is possible.

@Mikael Winkler

I've only really ever dealt with the leasing office, but I could mention it to the guy that I signed the lease with. Thanks Mikael! Happy to connect at any point to discuss and run some ideas by ya if you're up to it!

@Mikael Winkler

I'm certainly considering cosmetic renovations, but probably nothing that would take a few months. Unfortunately it would be a pretty hefty expense to cover my rent and mortgage at the same time. I think it would eat 80% of my paycheck, which would not be ideal. I think if I time it right, I could land a property and only have to pay one or half a month of rent.

@Cody Barna Thanks Cody! I am curious though, would I even be able to take out an owner occupant loan without being able to live there, assuming I close in the next month or two? This is something I need to look into and definitely get clarification with my broker on.

@Dan Weber That's a good point and something I've thought about. I live in a very large complex downtown, so I don't communicate with the leasing office too often. I also have a roommate (friend of mine) that I don't want to leave with a stranger. Our apartment is a very open loft-type layout that I don't think that would be comfortable in with a stranger unfortunately. 

Hi everyone,

I'm looking to purchase a property to house hack in the Columbus market in the next few months, and I'm seeing some decent opportunities come across my plate (through my own research and from my agent) and I am currently living in an apartment in Cincinnati with a lease ending in the middle of January. I've expressed this concern to others, including friends and family, but I wanted to get some advice from the BP community. If I were to make an offer on a property and have it accepted within the next month, would I be jumping the gun too early considering I am still under my lease until January? 

To add some context, I have sent in all required documentation for a pre-approval to a local mortgage broker, and I am consistently analyzing deals and learning as much as I can through BP, books, YouTube, etc. I'm just terrified by the idea of holding a property for 3-4 months without being able to live there under the conditions of an owner-occupied loan. I'm really looking for advice on the timing of my approach. Any and all thoughts are welcome. Thanks so much!

-Mitch Toney

Thanks @Amanda Roderick! I'll definitely join the Facebook group, and happy to connect as well! I will be moving from Cincinnati myself, so not too far away! Does the COIN group do meetups or Zoom calls? Or are you a part of any networking groups that meet (virtually or in person) consistently?

Hey Jimmy! I'm doing the exact same thing as you in the coming months, I would love to connect and share ideas!

@Jason DeVelvis Thanks Jason! Definitely good advice and I'm leaning towards a licensed agent now.