All Forum Posts by: Ben Halabi

Since I plan to use a PM, would I (or should I) have a lease of my own ready to use or is it customary to use the property management lease agreements (between the tenant and the manager or myself). Is there anything else I should have handy or expect when dealing with a property manager? Any advice on this would be greatly appreciated.

If you have any Cleveland property manager recommendations I would greatly appreciate that as well.

Thanks for the feedback!

Hello Kierra, Since you plan on using a PM, I recommend using their lease and have them handle your property from the beginning, especially with placing a tenant you will need a good screening process. Good luck!

0 Votes

Originally posted by @Donald Kellogg:

Buy n Hold with SD401K your opinion.

1. Cleveland OH

2. Akron OH

3. Indianapolis IN

4. Milwaukee WI

5. Evansville IN

Hello Donald, Cleveland is one of the best rental markets and the most popular for investors because of high rental demand and low cost of entry, property prices are pretty inexpensive here. With that being said I see that you are interested in invest in the Cleveland market. I thought I’d reach out to you and tell you more about what we do here at B2B Realty. I also recommend taking a look at Cleveland Price & Neighborhood Map which will help you have a better understanding of the neighborhoods and general market in Cleveland. Good luck!

2 Votes

Originally posted by @Jason L.:

I'm an out of state investor looking at buying SFHs in Indianapolis. Would appreciate any recommendations for property management (or who to stay away from). Preferably someone you have used/are using yourself. Thanks.

Hello Jason, Finding the right property management company is the most important piece of the puzzle. I recommend asking the PM you are going with a couple of questions before making the decision:

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck!!

2 Votes

Indianapolis, Indiana

Originally posted by @Jitin Chopra:

Looking for property management references in Oakland. Please share firms that you have first hand experience with an deliver good value

- Leasing support

- Ongoing management

Hello Jitin, Finding the right property management company is the most important piece of the puzzle. I recommend asking the PM you are going with a couple of questions before making the decision:

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck!!

0 Votes

Originally posted by @David Jiang:

We are ready to purchase SFH and Duplex in milwaukee, WI. We can not find positive cash flow properties in orange county, CA, and makes sense to buy and rent out in Milwaukee, WI. We are looking for a property management company in this area. Not just any property management company but a solid property management company. We got great help from @Dawn Anastasi on real estate agent. We sure would like to make friends, share info, and help others. We are looking to do more deals in Milwaukee and could sure use some resource guidance in the area. Thanks in advance!

Hello David, Finding the right property management company is the most important piece of the puzzle. I recommend asking the PM you are going with a couple of questions before making the decision:

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck!!

0 Votes

Originally posted by @Shannon Young:

Hello all .,

What are the best areas or zip codes to currently buy in in Cleveland ohio and Toledo?

Hello Shannon, Cleveland is one of the best turnkey market and the most popular for investors because of high rental demand and low cost of entry, property prices are pretty inexpensive here. The first thing you will want to do is check out this Cleveland Price & Neighborhood Map which will help you have a better understanding of the neighborhoods and general market in Cleveland. Good luck!

0 Votes

Originally posted by @Da Shiek Woodard:

It seems that home prices in Ohio are much lower than comparable B-class properties nationwide. Is anyone on BP currently investing in this region and willing to share their experience?

Hello Da Shiek, Cleveland is one of the best turnkey market and the most popular for investors because of high rental demand and low cost of entry, property prices are pretty inexpensive here. The first thing you will want to do is check out this Cleveland Price & Neighborhood Map which will help you have a better understanding of the neighborhoods and general market in Cleveland. Good luck!

1 Vote

Originally posted by @John S.:

I received a flier from Great Jones. They offer 8% management fee, no yearly contract, and 37% leasing fee. Sounds like a better deal than with current property management team. So I am considering it. I would like this community’s comments.

One drawback is that they offer self showings with a simple credit card check. I think this method is risky, as anyone can ruin the place without an agent as chaperone. Your thoughts?

Hello John, Finding the right property management company is the most important piece of the puzzle. I recommend asking the PM you are going with a couple of questions before making the decision:

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck!!

0 Votes

Originally posted by @Maile Clancy:

Anyone have a great referral? In the process of buying a few 2-4 units and would love a recommendation. Thanks in advance!!

Hello Maile, Finding the right property management company is the most important piece of the puzzle. I recommend asking the PM you are going with a couple of questions before making the decision:

Do you mark-up maintenance and repairs?

What does your screening process look like?

Do you charge any fees if the unit is vacant?

What are your management fees?

What is the best way to communicate with your team and what options do I have?

If I want to cancel my management agreement do I have to pay any fees?

How do you determine the rent amount?

How do you market vacant units?

What kind of software do you use?

Good luck!!

1 Vote

Originally posted by @Jay Kysha:

Hey everyone - finally decided to join up after listening to a fair amount of podcasts on my travels. Looking to get involved in building a small residential portfolio to eventually combine in an aggregate sale for one small apartment building. Both my wife and I have full time careers and are looking to build some passive / long term wealth. We are living in Ohio, but are from Connecticut and likely be returning in 2024. Looking for some insights on my thoughts below regarding out of state operation, and tax purposes / registration of vehicles etc. Glad to have found the forum portion of BP. Thank you all

__________________________________________________________________________________________________________________________

My wife and I are living out of our home state for the next five years, and are looking to establish an LLC to run a property management business through. Our five year plan is to own five to ten two or three family homes or one or two apartment buildings to rent / maintain for tax purposes / depreciation / write off's against our 9-5 annual income(s). I have a model established, and this is a feasible possibly, but am wondering about the tax liabilities we would have after we move away from our physical portfolio.

We currently live in Ohio, and will be moving back to Connecticut in five years. I would obviously like to hold these properties should they be performing as I plan on doing a 30 year mortgage up front with possibility to refinance to a shorter term up front to pay everything off asap / avoid market fluctuation as best we can.

My questions are:

Would we be able to claim residency in the state of Ohio while living in CT full time with an established LLC here? What are the stipulations for claiming full time residency while living in another, I know a lot of folks do this with Florida as their primary residence but the law is cracking down on it.

Would I at least be able to keep my truck (registered to the LLC) for personal use in CT full time, with Ohio plates? (Looking to avoid emissions in CT as it is a diesel truck).

Thank you in advance for any insight / advice with this

Welcome to the BP family. Cleveland is one of the best turnkey market and the most popular for investors. If Cleveland is one of your options I would definitely take a look at the Cleveland Price & Neighborhood Map. Good luck!!

0 Votes

All Forum Posts by: Ben Halabi

Ben Halabi has started 1 posts and replied 118 times.

Post: Property management setup for new investor

Post: Tell me your why in the cities below

Post: Property Management Recommendations in Indianapolis

Post: Property management (Oakland)

Post: Property Management in Milwaukee, WI

Post: Best areas of Cleveland ohio and Toledo

Post: Rental Investing in Ohio

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Post: New Member Checking in - Ohio