All Forum Posts by: Cheza M.

 Thanks Samad. I was actually wondering what are the important things that I need to confirm and ask the seller with our initial phone conversation?

Hi BP community,

I just got under contract and planning to purchase my second turnkey property in ohio from out of state. I’m still very new to all of this and how everything works. But I’ll be reaching out to the seller and I was wondering what questions should I ask the seller before purchasing the property? Also do you negotiate the price if the appraisal comes lower than the sales price? When do you do an inspection? On my first turnkey property, we had a closing coordinator so I didn’t really speak to the seller directly, but this time we don’t have one so I have to communicate directly with the owner.

Hello all,

I’m trying to find a better mortgage lender for my second out-of-state turnkey rental property in Cleveland, OH. Does anyone know any great lenders out there who works with out of state investors and might have better fixed rates?

Hi BP Community,

I’m planning to buy my second turnkey property, but I’m a but hesitant because the lenders are on par for rates and no one is giving any fixed rates right now until they hit underwriting. The down payment would be 20-25% since it’s an investment property and I was given rates about 5.75-6.1. Are these the avg. rates for investment proeprties nowaways? Do you think the rates will ever go down again once inflation ends or are they still going to stay around those rates or climb up higher? Thank you guys in advance for your knowledge and suggestions!

Hi all,

I have a tenant who's in a month-to-month lease and I'm trying to raise the rent next month by $50 more ($1,200 to $1,250) which is, in my opinion, a reasonable price based on the comps around the area. My PM suggested the same thing. However, the tenant said in her email:

"I can barley afford 1200 why are you raising it 50$ I already pay water and sewer.. I honestly cannot afford 1250$ you’d at least have to give me to the end of next year to be able to afford an extra 50$ in all honesty this house in this neighborhood isn’t worth 1200 let alone 1250$ an the only ready I’m here is because I’ve already put so much money into this house just to leave .. if you can kindly give me a call at id appreciate it"

Am I charging the tenants a bit high based on the comps in the area? My SFH is located in Stanley Ave, Maple Heights Ohio, 44137.

Neighborhood Class: B
Square Footage: 1230
Bedrooms: 4
Bathroom: 1.5
Year Built: 1920
Rehabbed: 2021

I was already expecting complaints, because of course, tenants wouldn't just say nothing when you raise the rent. But I'm still wondering what do you guys usually do when they complain or refuse the rent increase aside from kicking them out? I feel like she's a good tenant, but at the same time, I don't want to just keep the rent as is when it needs to be increased. What are some ways to handle this based on your experience as a landlord who needs his/her rent increased? Should I show her the comps in the area? Or wait until next year to raise the rent like she wanted? What would you guys do? Thank you so much in advance for any suggestions!

Hi all,

I have a tenant who's in month-to-month lease and I'm trying to raise the rent next month by $50 more ($1,200 to $1,250) which is, in my opinion, a reasonable price based on the comps around the area. My PM suggested the same thing. However, the tenant said in her email:

"I can barley afford 1200 why are you raising it 50$ I already pay water and sewer.. I honestly cannot afford 1250$ you’d at least have to give me to the end of next year to be able to afford an extra 50$ in all honesty this house in this neighborhood isn’t worth 1200 let alone 1250$ an the only ready I’m here is because I’ve already put so much money into this house just to leave .. if you can kindly give me a call at id appreciate it"

Am I charging the tenants a bit high based on the comps in the area? My SFH is located in Stanley Ave, Maple Heights Ohio, 44137.

Neighborhood Class: B
Square Footage: 1230
Bedrooms: 4
Bathroom: 1.5
Year Built: 1920
Rehabbed: 2021

I was already expecting complaints, because of course, tenants wouldn't just say nothing when you raise the rent. But I'm still wondering what do you guys usually do when they complain or refuse the rent increase aside from kicking them out? I feel like she's a good tenant, but at the same time, I don't want to just keep the rent as is when it needs to be increased. What are some ways to handle this based on your experience as a landlord who needs his/her rent increased? Should I show her the comps in the area? Or wait until next year to raise the rent like she wanted? What would you guys do? Thank you so much in advance for any suggestions!

Hey BP Community,

I'm a new investor and currently have one property out of state that I bought last year. I was thinking of buying 1-2 more properties this year, but because of inflation the interest rates and cost of rehab supplies are currently so high. So I was wondering if I should just wait until inflation ends and just save up my money until then? Is inflation bad for real estate investors who plan to acquire more properties?

I wonder what are the other investors doing right now during inflation?

Hey BP Community,

I'm a new investor and currently have one property out of state that I bought last year. I was thinking of buying 1-2 more properties this year, but because of inflation the interest rates and cost of rehab supplies are currently so high. So I was wondering if I should just wait until inflation ends and just save up my money until then? Is inflation bad for real estate investors who plan to acquire more properties? 

I wonder what are the other investors doing right now during inflation?

 That's a very good point, thanks so much for the advice Dave! I'll definitely talk to my PM about it

 Thank you so much! I'll do that.