All Forum Posts by: Theodore Eboigbe

I’m also ok with meeting up

@Michelle Gerac thank you for your input I’ll definitely start working on opening one.

Hello,

I’m closing on my first duplex that I’ll be house hacking. And was wondering should I open a business account to help keep my rental income separate from my personal?

Nevermind, i learned that the property has some major settlement issues, and will need other updates such as roof so i'll most likely be walking away.

Hello, 

Been looking for my first property/home (multifamily) and my realtor came up with an idea since he also owns and flip property on the side he was thinking of buying this duplex and fix it up. He gave me 2 options:

The property current price is listed at $79900 and the seller won't budge.

Option 1: if he flips one side( the side i'll live on), replace all windows on both side and fix both of the basement and i would buy it at around 100k -110k and i will probably need to put in money on other side around 7k if i had a contractor do all the work. I plan on doing some work to reduce the amount of money i'll put into it to fix it.

Option 2: is he fully renovated both side but he planes on $129k, i will probably have to negotiate this down though since with my math it doesn't cashflow with rent being around 650-750 in the area. (i will most likely not do this since the number don't work) 

I'll probably keep searching for a deal or go with option 1 since it sounds like a great opportunity to get a property finally and work on a mini flip by fixinig up the other side. Just want to see what others think for a first deal and is there anyhtign else that i might need to consider that a first time investor should look out for.

@Jaron Walling Thank you for replying. I'll definitely give that a go. And I definitely saw that people don't care about ROI

Hello, I’m currently trying to look for my first home/multi family in my market (Canton/Massillon, OH) and at the moment it seem like all the more turn key multi families that only need minor updates have been selling really fast (some cases in 1 day).Do you have any advice on how I can find a deal with them moving so fast? I’m contemplating maybe calling owners of properties that aren’t kept up and seeing if they are thinking of selling.

@Ryan Beam Thank you for sharing the meetup link, i'll try to attend the next one. If i find out about something outside of this i'll let you know. 

Hello, I've been getting my feet wet learning about real estate, was wondering if anyone knew of any real estate groups or meet ups in the Akron, Canton, and Cleveland area. Pretty much anywhere in North East Ohio. Hoping to maybe meet people or listen in on conversations before i purchase my first multi family which i'm planning on doing hopefully by April/May time frame.  Any info or replies will be greatly appreciated. Thank you!