All Forum Posts by: David Terbeek

That was exactly my take on the tenant account system.  Good to have that validation!!

@Ryan Arth  Agreed, the volume is horrendous.  We have been outsourcing to a company in India to help with the volume in the first month.

Ryan, you referenced the process of the tenant going to the water department to try to start an account.  When I read the document the water department uses, it seemed to me that the landlord was still responsible for the usage despite the tenant starting an account if they did not pay their account in full.  Not sure of your interpretation on that or if you have seen their agreement.

Sub meters will be owned and administered by the landlord.  This means you have to read and reconcile the meter readings against the water company.  With the difficulty in collecting the bills from the tenant in the first place, the expense of the initial set up and the additional work it is just not worth it.  I am not an attorney but I have read up on landlord tenant law and it seems to me that the case law is split between whether you can allow water to be shut off even for non payment.

@C. Timothy Murphy III, good post.  One note, Cleveland just converted (this month) to a monthly billing system away from the 3 month system.

Amit-  I sent you a private message with the contact details for John at the Home Detectives.

Jeff-  I would check with The North Coast Commercial Group, (NCCG).  I've head them talk specifically about blanket loans over small properties.  PM me if you would like their contact info.

David-  University Heights is on the eastern side of Cleveland, not to be confused with the separate municipality of "East Cleveland" .    Their website has some information,

www.universityheights.com.  In addition, I like www.City-data.com they have a lot of demographic and crime data, you just have to sort through some ads.  We have a lot of clients that have bought there.  Taxes are high but so are rents.

Dave-  Welcome to BP.  Sounds like a great success story for your first endeavor.  I hope that they all go that well.

Nathanael-  Congrats on your Cleveland acquisition.  I have a couple lenders, one traditional, the other offering some unique programs that both work with investors.  Feel free to PM me for contact information.  I also have information about property management.  Coming to BP is the right place.

Ohio Real Title does a nice job, they are downtown but service the entire region.  Feel free to PM me if you need contact info.

Edrin-  Akron seems to be somewhat under appreciated.  We began working there a year ago.  The tenants have been stable, and amazingly respectful (compared to how tenants interact in Cleveland).  There are a lot of very old houses that seem to have foundation issues but there are a ton of opportunities for good houses that will yield a steady cashflow.  As mentioned Good Year Heights and Firestone Park  but we really like West Akron & Highland Square areas if you can find a deal.  Be warned, the likelihood of appreciation is probably limited but the cashflow is there.