All Forum Posts by: Christian Styles

Hey Luis! You're in the right place! Have you determined what area of RE investing you're interested in? 

Congrats on becoming a landlord!

For the lease, many people who self manage find a generic one for their state online, but it’s usually a good idea to have an attorney look it over or even draft one for you to make sure it’s solid and covers all the bases. If you end up getting a Property Management company, they will typically have a lease (would still be a good idea to take their lease to your attorney for review)

As for property management, hiring a company can make things a lot easier, especially if you’re managing from out of state. The cost can vary, but it’s typically around 8-12% of the monthly rent. They usually handle finding tenants, collecting rent, maintenance, and posting notices/evictions. Most good property management companies have their own network of handyman contractors, so you wouldn’t need to worry about that.

In your lease, you can get pretty specific about tenant responsibilities. You can include clauses for things like not flushing sanitary products, taking care of appliances, and covering any HOA fines related to their negligence. Just make sure everything is clearly written and legally enforceable.

Having a local property manager sounds like a smart move, especially since you’re managing from out of state. They can keep an eye on things and handle issues that come up quickly.

Hope this helps!

Hey Greg, we are able to ACH owners directly with disbursements. I think we pay a small fee to do so but we would pay more to cut and mail a check anyway so it's absolutely worth it. I would check and see if this is something your bank offers, or alternatively a lot of PM software has the ability to do it for a small fee too. 

Hi Tammi, Welcome to the community! Whereabouts in North Carolina are you? 

Hi Lee! Welcome to the community! You're in the right place! 

Hey Zachary, Welcome to BP! Always glad to see another Ohioan on here! 

Saving is the hardest part, and it looks like you've done that exceptionally. I'm obviously bias but Cleveland has some great opportunity for cash flow and even some appreciation in some neighborhoods. What geographical areas are you looking at investing, and are you still interested in primarily Long Term Rentals?

Also interested in your woodworking projects as I've been trying my hand for some time now.

Hey Jeff, we are working on an updated neighborhoods page for Cleveland right now actually. I'd be happy to send it over when it's completed! Do you have a specific neighborhood in Cleveland youre interested in? 

https://www.bbb.org/ 

Ive had decent luck with the NAHB Home builders association. https://www.nahb.org/nahb-community/nahb-directories They have a whole section dedicated to remodelers. Obviously not a replacement for vetting the individual companies out. But certainly another place to look.

I don't have a particular school that I recommend or have attended, I actually got my license in a different state.