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All Forum Posts by: Amy Hu

Amy Hu has started 26 posts and replied 111 times.

Post: costly eviction and broken in -bloody lesson

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47
Originally posted by @Mo Weis:

@Amy Hu are you selling your properties in the Cleveland area?

 yes. I posted in market place.

Post: winterization & utility reversion

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47
Thanks for sharing, Bob!
I had bursted pipe in an occupied rental house last winter. huge water bill.

Originally posted by @Bob Collett:

Welcome to winter.  The Northeastern Ohio (Cleveland & Lake Erie) winters can be somewhat harsh.  Today we are looking at 28 F, but by the first week of December, it can often dip into the teens, or even single digits.  F R O Z E N   P I P E S.  This can lead to frozen pipes, bursted pipes and tens of thousands of dollars of related water damage.  A friend of mine recently had a severed water line result in an insurance claim of $92,000.  Guess what, if the bursted pipe is a result of gas turned off in a vacant house, the insurance may not pay out.

I recently sent my crew out to winterize vacant homes.  The procedure goes something like this:  Turn off the water at or if possible before the meter.  Remove the meter connection between the meter and the property.  Drain all of the lines by opening the supply line faucet at the highest point and also at the lowest point, then open each faucet to allow it to drain.  Drain the hot water tank.  Suck out any water if toilets and traps using a shop vac. Remember to remove water from both the toilet tank and the toilet bowl.  If you use a pro, they will then use an air compressor to blow residual water through the system, so that water does not sit in horizontal runs.  Then, pour some RV style antifreeze in toilet and each trap.  Once this is all done, flip off the breakers (unless the furnace is still on).  This step can be important if there is condensation that finds its way to electrical components.  A pro will charge anywhere from $100 to $200 for this service.

If you find yourself in an emergency situation... as in you wake up in the morning and the TV says it is 8 degrees... send someone (anyone) to get there ASAP.  Have them shut off the water at the meter, and drain the hot water tank and supply lines the best they can.  While I cannot recommend using windshield wash as an anti freeze...  I have seen it work.  If your guy has a wrench, have him disconnect the meter.  Be sure to call the water company so you don't get hit with tampering charges.  Then contact a pro to make sure everything is in good standing.

Even with your emergency winterization done, you should expect to see some nasty cracks in paint and drywall... possible significant damage requiring new painting if the spring.

I am currently requesting (sort of requiring) all of my property management clients to sign up for "utility reversion" for both gas and electric utilities.  Reversion is a service offered by the local utilities such that if your gas or electric were about to get shut off for non-payment, the account would automatically be put back into the owner's name.  While there is always the possibility of the owner incurring a gas or electric bill liability... the alternative of letting it get shut off any time between November and March (especially December through February) could result in a financial disaster for the owner.

I would be curious to know how many of you in the Cleveland market actually use utility reversion as a precaution vs how many take your chances; and separately how many winterize vs and how many of you leave the heat on in a vacant home.

Best of luck

Bob Collett, PM

Post: costly eviction and broken in -bloody lesson

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47
Originally posted by @Federico Gutierrez:
Originally posted by @Amy Hu:

1st PM placed people with recent eviction record into my properties. She brought us a deal of a vacant building, signed a contract to finish rehab within 6 months for X$. After 12 months and X+Y $, I flew to check. It's complete fraud. Some BP people and local professional saw the building and know what I'm talking about.

2nd PM doesn't lie. Just too busy. Tenants stopped paying early May, eviction not filed late July.

both licensed agents.

Were these licensed agents on BP? Did you do background checks on the Realtors you are working with?

I would say if your doing checks on tenants why not apply the same principle on the people your doing business with?

Good point.

You can never be careful enough. Even if  you had good experience working with someone, there's no guarantee future experience will be good.

BTW, I'm selling 5 houses held in my retirement account.

Post: 5 SFR -great rental property for cash flow! $700-800 rent

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

Don't miss such great opportunity if you're looking for cash flow cow. these are rentals in my retirement account. They're great rental investment. Unfortunately we can't do cash out refi because of regulations on retirement account.  They're managed by local PM. 10% collected rent is typical in Cleveland. They're in demand in solid rental neighborhood.  please email [email protected]   for more information. Please do not disturb tenants.


3852 E 188th, cleveland ,44122 ;

3858 E 188th, cleveland,44122
;

The two houses sit next to each other on E.188th are both 3 bedroom 1 bath in Cleveland on the border of Beachwood (A class neighborhood) 1060 square ft ,laundry in half finished basement, one car garage, fenced in yard. Rehabbed the same way in 2016 which includes, New furnace and water tank, freshly painted and hardwood flooring, new sink and doors. Rent is 750 and could be $800. sell for 45k each.

1920 Rookwood Rd, cleveland , 44112, rent $750. sell for $39k

3 Bedrooms 1 Bath Ranch, No basement, 1Car garage, 8,154 sqft lot size, 948 sqf

Nice quite street.  updated Kitchen and bath. will make a nice home. Private yard.. new wood look luxury floor installed July 2018. tiles in bathroom.

2508 Greenvale Rd. Cleveland, OH 44112; rent 750, sell for 48k. 

3 bedrooms 1 bath, no basement, Large yard, Living room, dining room. recently rehabbed. near border of South Euclid.

4789 E 177th ; cleveland, 44128 ; 3b1b, rent $700 , rehabed in Dec. 2016 . not occupied, all new furnace &water tank stolen before Thanksgiving.  sell for $28k

 tenats pay water and sewer, electricity, gas. tenants responsible for all landscaping.

Post: costly eviction and broken in -bloody lesson

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

1st PM placed people with recent eviction record into my properties. She brought us a deal of a vacant building, signed a contract to finish rehab within 6 months for X$. After 12 months and X+Y $, I flew to check. It's complete fraud. Some BP people and local professional saw the building and know what I'm talking about.

2nd PM doesn't lie. Just too busy. Tenants stopped paying early May, eviction not filed late July.

both licensed agents.

Post: costly eviction and broken in -bloody lesson

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

In April we switched PM, this tenant in SFH stopped paying. It took several months to evict him and cost extra attorney fee. That guy forged payment receipt and appealed in housing court! Can you believe that? It's not hard at all to prove forgery, just costly!

Disappointed, we switched PM again. We paid to have the house rehabbed and requested to install security. I actually gave PM a set of SimpliSafe.  Last week, I was informed the house was broken in with furnace& hot water tank stolen!

Post: Criminal Complaint in Cleveland.

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

I just got a court notice because tenant didn't cut grass. I called housing court and was told the fine is $510! This happened in a single family house in Cleveland.

@James Wise Could you please help?

Post: Criminal Complaint in Cleveland.

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

I just got a court notice because tenant didn't cut grass. I called housing court and was told the fine is $510!

@James Wise, Can you help?

Post: left int the cold by a GC

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

at least the money loss is not big. I can refer an attorney

Post: heating for old building: boiler, mini splits or heat pump?

Amy HuPosted
  • Investor
  • Thousand Oaks, CA
  • Posts 126
  • Votes 47

Cleveland 

Yes, separate meter