All Forum Posts by: Elizabeth Chiang

@Kenneth Garrett

Thanks for the information!

@Andrew Weiner

The property is in Cleveland Heights.

@Andrew Weiner

Thanks for the advice. Anyone specific at the County Auditor's Office that I should ask to speak to (specific department or title)?

I'm looking at purchasing a Triplex. I went to the County Auditor website and saw that it is zoned as a 2-family and land use is also 2-family. The city requires a Point of Sale Inspection which includes interior as well as exterior. The Point of Sale states type of structure as two family, though the inspector obviously saw that there were three units.

My plan is to purchase cash, fix up the property, refinance, and rent. What issues may come up due to the zoning? Will refinancing be an issue (apprasial as a two family instead of three family)? Will getting sufficent property insurance be an issue? The property is currently fully rented and the owner hasn't had any issues in 10 years he has owned it.

If it matters, property is in state of Ohio, Cuyahoga County. 

I'm actively looking to buy some rental properties. People still need a place to live. I'm looking at B and C type properties, the people in A properties may not be able to afford premium rent and move down to B properties.

For people who use a property manager, how much are you typically paying for

1) monthly management fee (flat rate or %)

2) leasing fee (1 month rent or flat fee)

3) surcharge for mainteanance (% of cost or flat fee)

4) other additional fees (for billing back utilities, doing inspections, etc.)

Have you gotten discounts if you own multiple properties and how many units did you have to have to get the discount? 

Any tips on how to find a good property manager?

Anyone use Hemlane?