All Forum Posts by: Alex L.

I'm located in Youngstown, OH and specialize in purchasing and rehabbing distressed properties. Not exactly sure what you're looking for, though.

Are you trying to find someone to do a cash out refi once you've rehabbed the property, or are you trying to find someone to lend the full amount upfront for the acquisition and rehab?

Quote from @Calvin Thomas:

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Just curious how people feel about investing in Youngstown Ohio. 

 Don't invest in to dumps.  This is not 1803, and Youngstown Ohio is past its prime. Just listen to the song Youngstown by Bruce Springsteen.  

Ah, yes. The best investing advice always comes from 30-year-old songs.

 Pretty sure one can just Google Youngstown Ohio and know that the place is crumbin' down (get it?).

Any investor looks for places which have a bright future, not one's where their downtown is closed due to crumbling and unsafe buildings.

https://www.wkbn.com/news/local-news/gas-explosion-in-youngs...

https://www.economist.com/united-states/2022/03/12/what-buck...

https://ysu.edu/center-working-class-studies/renaissance-who...

https://www.propublica.org/article/these-companies-got-milli...

As Bones would say, it's dead Jim.  Don't blame me, I didn't kill it, it's been dead for a while.. 

One downtown building that recently suffered a gas explosion doesn't constitute the entire metro area, but no matter. You won't hear any complaints from me. Better that out of state investors keep their fingers out of the area all together. More pie for me. 🙂

Quote from @Calvin Thomas:

Quote from @Thurben James:

Just curious how people feel about investing in Youngstown Ohio. 

 Don't invest in to dumps.  This is not 1803, and Youngstown Ohio is past its prime. Just listen to the song Youngstown by Bruce Springsteen.  

Ah, yes. The best investing advice always comes from 30-year-old songs.

It's an 18-year-old chihuahua. What damage could it possibly cause that their security deposit wouldn't be able to handle, worst case scenario? If you're that concerned, request to tour their current home and see how they keep it.

Hello fellow investor! I'm located in and invest in Youngstown myself. Always nice to meet others. I haven't gone to Nichole's monthly meetup because I'm a bit of a recluse, but she's been doing it for a good while and I think it's definitely worth a visit if you're less socially-averse than I am lol.

Not speaking from a legal perspective, but I've done this several times and have never had an issue.

I use a combination of CashApp and a website/app called "Rent App" which allows 100% free rental payments, and also helps tenants build credit. I know there are plenty of paid rent collection services out there, but I have no interest in paying fees (whether myself or my tenants) to collect rent. Rent App is fairly new but I've enjoyed it so far, and my tenants who use it appreciate being able to help build credit.

Quote from @Ryan Overcash:

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I've been using it for the past 2 or 3 years and I really enjoy it. Definitely one of the only paid subscriptions that I actually use regularly and am not upset about whenever the yearly charge goes through. I only use it for my personal stuff, and exclude anything that has to do with my rentals, which I'm assuming would be the plan for yourself.

 Thanks! Seems like a useful tool, but try not to get carried away with subscriptions. I think I'll give it a try

 I totally get it because those subs add up fast. If you're not careful you can easily end up paying $200/mo in subscriptions without even realizing it (this has been the case with my partner and I, between video game stuff and music and entertainment, etc. etc...). Monarch is really nice though, and I've tried all the major budgeting apps because I'm neurotic about my finances but none of them hold a candle to Monarch.

I know they do a 7-day free trial so you can always test it for yourself, but from what I understand you can get an extended 30-day free trial with a member referral link, so here: 

https://www.monarchmoney.com/referral/d2xp9tbgyr

No pressure or anything, just helpful if you'd like to do 30 days instead of 7!

I've been using it for the past 2 or 3 years and I really enjoy it. Definitely one of the only paid subscriptions that I actually use regularly and am not upset about whenever the yearly charge goes through. I only use it for my personal stuff, and exclude anything that has to do with my rentals, which I'm assuming would be the plan for yourself.

Quote from @Bob Stevens:

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I love investing in Ohio, because the security deposit laws are so vague and bare bones. They don't even require them to be held in an account; I could keep them under my mattress for all the state cares for. I always put them in a high-interest savings account, and love the extra bit of money I get from it.

 UMM not sure where you're getting your info but its incorrect (unless my attorney of 15 years is clueless )  SD must be kept in an AEOTA ACCT . We have about 500k sitting in the acct. So, you are saying I can do whatever I want with that 500k? Don't think so. 

My info comes from my own attorney, as well as the Ohio Revised Code Section 5321.16 | Procedures for security deposits. The state code does not specify where or how security deposits are to be held. My particular cities & counties also do not have any laws about it, either. Perhaps it's different for your city & counties, or your attorney just has high compliance standards which is never a bad thing. FWIW I also only deal with residential, and am not familiar with commercial intricacies.