All Forum Posts by: Alan Cassidy

Hi everyone!

I’m in the process of setting up a google drive for my newly sprouted real estate business. I currently only have 1 duplex, however I want to set this up right so it will work for any size portfolio.

Currently I have

Home folder>multi family/single family/legal documents

Inside the multi family I have

Name of property-> general property maintenance/first floor/second floor

Inside of first floor (the one currently rented)

I have, pictures (before and will have after) / lease documents / a spreadsheet with each month, what day rent was paid, if it was late, if late was fee paid? , total paid

I also have a tab for maintenance to that specific unit

Was wondering what other things you guys might recommend keeping track of? I know this might be hard to follow but hope it makes sense!

Thank you!!!

@Greg Dickerson

Thank you

Something I just thought of, let’s say my property appraises somewhere near 100k Over what I owe. Am I able to rather than selling this property take out that equity and roll that into something else? While still living in /renting out my current 2 unit?

Hi, I recently purchased my first home in Ohio (april of this year), a 2 family for 120k FHA 3%~ down. It appraised for 129k.

Recently there have been some HUGE announcements in the area that have lead to a house 4 doors down, smaller than mine selling for 210k (the house that sold is a 2 family about 1900 square feet, mine is about 2300 square feet) The only difference is both of the units were updated where as currently I only have 1 down. I will have the 2nd unit that I reside in finished ideally in the next 3-4 months if all goes well. I'm shooting for winter/spring at the latest.

When all is said and done, It seems very likely that I should have somewhere in the ball park of around 100k to roll into a new real estate investment. This has happened MUCH faster than i had ever imagined and I feel extremely unprepared even though I'm constantly reading up on the topic. I think the next logical step would be an apartment, and based on my limited research it seems for around 500k I should be able to get somewhere around 10 -12 units or so. 

My main questions are 

1. Would I be better off going in with someone and having 200k to put down on something like maybe a 25 unit building?

2. Is it possible to take the 100k and purchase 4/5 100k properties rather than one 500k~ property?

3. How likely is it to get a commercial real estate loan with 20% down?

Thank you very much!

I’m not super concerned with the 175$ although any money is worth having. It’s mostly a matter of principal, and I happen to have the time, money and resources to do my best to be a prick in this guys side. And if successful, maybe he thinks twice next time. Probably not but I’ll know he knows that he can’t get over on EVERYONE just because if they rent they must be incapable of defending themselves.

The lease states nothing about the pet deposit being non refundable.

There is nothing of cleaning charges or charges of any kind outside of rent of course.

Follow up on a previous post.

I moved into an apartment in Cleveland heights, Ohio August 2017.

Was a very simple , sign the lease and here’s the keys. No walk through after first being shown the apartment.

From 8/2017-2/19 it was being managed by property manager A and owned by owner A. At the end of February/ middle of March, the property was sold to owner B and now managed by property manager B.

We moved our 3/31/19

We recently received our security deposit (missing the 250 refundable pet deposit)

And also 175$ short for “cleaning and blinds repair”

However, the blinds being referred to were in imperfect condition when we moved in, and I also hired a cleaner to come clean the apt for 8 hours (in addition the cleaning I had already done) if anything the property was cleaner than it was when we moved in. I have a videos of the apt after being emptied out and thoroughly cleaned.

After reaching out to property management company B who sent us the deposit requesting that he A. Let’s me see what evidence he was basing these claims off of or B. Let me know his policy and determining these damages if he doesn’t have damage. “At first he said he had the document (which is impossible because a move in walkthrough/checklist never happened) then when I said, oh you have it can I see IT? All of a sudden he no longer had it or “doesn’t have to show me” he basically told us that it sucks to be me.

since then I have done the following

Filed a claim with the Ohio attorney General. Left a review on every site I could find including the BBB.

I’m now curious about small claims. I have reached out to the city in which we resided. They informed me of the process. I just need to know who I sue? Is it property owner B? Property management company owner B? Both?

Thank you so much for your help!

@Thomas S. I guess I should specify, I probably should have drank coffee before making this. I want to put in the lease somehow that the back yard is not to be used when the dogs are out. I was hoping I can write in something that would protect me if that part of the lease was ignored by going into the yard when the dogs were out.

Hi!

Getting ready to lease out my first unit ever. Very excited. I live in the 2nd unit with my two friendly dogs.

The prospecting tenant has a kid, and although my dogs are very gentle, I was hoping someone could send me a copy of some sort of dog clause I can add to my lease to help limit my liability if one of the dogs accidentally or god forbid intentionally hurt someone in the home (I also have a max insurance policy)

Thank you!!

I’m getting ready to move out at the end of the month and Into a multi family that I purchased. I’ve been renting for about a year and a half with a 1 year lease that was extended to 18 months.

My question is (in Cleveland Ohio)

There was never a move in checklist that took place when moving in, and my landlord seems like the type who might send partial or no security deposit back and claim various things that may not be accurate, as we will be leaving the home in as good of shape as possible, taking into account a year and a half of normal wear and tear.

With that check list never taking place, in the event that he does pull something like that, wouldn’t I be able to claim that it was like that when I moved in, and he’d have hardly any ground to stand on?

Sorry I accidentally double posted, new to this forum, didn't notice the first one had posted when loooking on my phone!

I just recently purchased my first rental property in Cleveland Ohio.

I’m now in need of a solid lease agreement as I’m about to start taking applications for tenants.

I’ve found a few that look solid but I’m not sure what to trust that I find online and I want to make sure the lease is as strong as possible.

Any advice or help or available and reliable templates would be greatly appreciated

Thank you!