All Forum Posts by: Adam A.

I've several properties in the better area of 43607 which I got a good around 08. Every zip code has bad and good spots and you have to due diligence to what fit your needs. It helps if you have a specific address in mind and I'll be glad to discuss in more details.

The neighborhood around UT is very spotty which depends on what side. East of Bancroft st. to Upton/parkside which is only 1-2 blocks from UT is a highly concentrated student area. You can find houses 20K-40K, however, it's high in crime.  North of UT Door st. to Hill is a little bit better with the same price range.  South of UT is called Old Orchard 60K-180K which is an appreciative market with lower cap rate. 

My most important aspect of any area is neighborhood safety.  Most of my properties are within 2-3 miles from UT within 43615.  This is my favorite area to invest. I've bought as low as 21K to the most expensive 39K.  My rentals range $900-$1,200 with a cap rate of 24%-%34.    

You should change PM asap to avoid any further income loss. Matt Weisenburger is a good local attorney that deals with such issues.

Just curious, which PM company are you dealing with?

A good local PM company is the House Stop. Contact Angela Harding or Erika Duncan.  Also, you can contact @David  Way Bridge Properties. Let me know if you need phone numbers.

Adam Atassi

@David Hansen Thank you.

@Engelo Rumora HEHEHE ... I had a lot of notes... Luckily I cut it short!!!

2 Important factors you need to know before you hire a Toledo Lead Inspector and comply with the Toledo Lead Ordinance.

With the Toledo Lead Ordinance compliance deadline approaching (6/30/18) for phase 1, there are several factors you need to consider while shopping around for an inspector.

1. Experience: 

With a total of 104 Toledo lead inspectors, unfortunately, there are many that have not done any inspections. Some have done more inspections than others, however, how can you filter out the best from the rest?

Always ask for references. Some might provide you with a couple while others are willing to provide a lot more. The more references that can be given, the more he/she has done inspections.

Some of the inspectors are risk assessors. They have taken more classes than the rest. However, are they the best for general lead inspections?

Risk assessors usually are more expensive. The major difference is that risk assessors have been trained differently than others. Their training is targeted to hunt and investigate the source of lead contaminated areas. For example, they might open closet doors, look under beds or open drawers to look for visible dust. On the other hand, lead techs have been trained by LCHD. Their purpose is a general inspection of visible dust only.

When I got my first property certified, I had to hire a risk assessor due to the existence of only a couple of lead techs without any field experience. During the visual inspection, the risk assessor opened the closet door to the furnace area and I had to stop him. We had a disagreement, but my training and knowledge of the ordinance made sure that closets weren't opened.

Another very important factor is to ask whether the inspector is EPA RRP certified (Renovate, Repair and Paint). It's a special EPA training certificate which deals with how to isolate, contain lead safe areas during renovation and offer lead dust cleaning service and advice. This is very important as certified RRPs are able to discuss, train and explain how to clean lead dust in "DETAIL" effectively. Non-RRP certified are not qualified and they should not be offering such service.

Yes, "DETAIL" which is what's all about. Always ask for an EPA RRP certified lead inspector.

RRP Certified firms are giving a green EPA badge with an EPA Serial number as shown below.

2. Price: 

Most of us naturally shop for the lowest/best price but is it always the case? Prices could vary $25-$150 each inspection.

What are you really paying for such a difference?

Prices on the lower end most likely are generally those who have not done a lot of inspections.

Some inspectors charge an up front higher fee that might include unlimited dust samples and re-samples of failed wipes. But is this necessary? No.

Others might charge a very low initial fee to get the booking. At the same time, any repeat failed samples could be very expensive.

Another question to ask is how the report is prepared? Is it printed and mailed? Or, emailed as a PDF or a similar attachment?

A printed only report demands more time to submit. You have to either mail it to LCHD, or scan it and then uploaded online to LCHD website during the registration.

On the other hand, a report prepared by a PDF file or similar is emailed so you can easily save it to a computer. You can then upload it to LCHD in seconds without leaving your desk. Some inspectors offer such a service for a fee while others include it in their price.

I hope I have addressed the most important points to help you choose your lead inspector. 

@Rob Gillespie I'm also involved in Toledo REIA, PIN (Property Investor Network) and the Toledo Lead Ordinance. It's unfortunate that lead laws are the new trend as a money grab for cities.

Cleveland passed new rental inspection which includes lead las July

Governor Kasich proposed to expand the registration of "Lead Safe" rentals last year.

I became involved in the Toledo Lead Ordinance before and after it passed last year to help other landlords. I've written about the new Ordinance many times.

Yes, REIA and others make it sound like the end of rental market but trust me it's nothing to fear.  As a matter of fact, some wise investors will benefit greatly when others want to get it of the market due to such ordinance. As always, someone's coffee is another's whisky. 

Adam Atassi 

@Rob Gillespie Toledo Lead Law is the least strict and easiest compared to all other cities that passed similar rental ordinances (New York, Rochester, Detroit, Philadelphia, Baltimore, etc.)   

Cleveland has a very strict rental law was passed last year which includes not just lead paint but a bunch of other inspections similar to Section 8.

All other Ohio large cities are watching Toledo Lead Ordinance and taking notes on implementation to pass similar laws. 

Adam Atassi

I think the Toledo market will blossom in 2018 and 2019. I get offers every week to buy houses during inspection but they are not in my desirable area.

The math just doesn't add up!! I believe they'll be thousands of houses not in compliance by July 1, 2018. These houses will be either handed to the Landbank, foreclosed or sold cheap.   The Landbank will either demolish them or sell them cheap. Every couple of months I notice that the Landbank dumps a bunch of them on the market but in the last 6 months they were more expensive than usual. 

@Engelo Rumora I know a local charity that would love to take them without credit to the donor. But I think being public encourages other to donate. 

@Engelo Rumora I remember discussing the cost with you. But I think giving away 2 of your houses to people in need serve a much better cause than a lawsuit. The reward and the satisfaction of donation beat giving $$$$ to attorneys anytime.

 A lawsuit is the last line of defense and not the first. From my own experience, the only winners are the attorneys.

@Andrew Fidler 

I got involved and opposed this ordinance right from the start, however, when it passed we had to adapt to the new change.

When Toledo REIA asked for help, I answered and got more involved. They asked for volunteers to become lead inspectors to help in compliance. Out of 4,000 members, I was the first to take on the challenge with 2 other fellow members. I was the only member who became part of the Lead Task Force (LTF) to discuss the ordinance with Lucas County Health Department (LCHD) and Toledo City Council. I was asked by LCHD to write them some notes about what was wrong with the ordinance from an investor/landlord point of view. I represented them with a 12 page report. However, it took 4 months of bi monthly meetings for a breakthrough. Finally, the Toledo City Council and LCHD adapted 5 of my recommendations when they amended the ordinance April 2017.

I never felt the ordinance was fair and I kept pushing, trying to tweak it and dilute it. The experience of Toledo REIA to negotiate was the right call instead of a lawsuit. They knew that such a lawsuit was a waste of money and energy since they were involved in such a similar lawsuit before.

As I recall, city councilmen, Peter Ujvagi, Larry Sykes and Sandy Spang were very receptive and accepted my suggestion of holding a meeting with both REIA and PIN board members. The meeting went on without PIN, due to the refusal to participate.

The vast majority of PIN members were (and still are) against the lawsuit. The lawsuit destroyed any final and remaining hope to continue negotiations especially when we had the chance with the new mayor. 

@Andrew Fidler GOAL $75,000!!!!  What happened to the $35,000?  

Either way, it looks like there is no public interest in funding the lawsuit even after 2 years.