All Forum Posts by: Eric Geiger

Thanks @Geoffrey Gabala!  I will look Paul up.

@Patrick Crehan Nice!  Thanks for the update. 

I am looking for recommendations for real estate attorneys in the Cincinnati OH market. I am new to the REI game but looking to expand. Would prefer an attorney that works with and/or will take time to help an investor like me that only has a few properties. Thanks

Can you cash out refi on the rental?  If appraisal holds and you can get out 75%, you likely still end up with around $20k after closing costs, etc.  With the higher principal and higher interest rate your mortgage payment increases a little over $300/month.  Still cash flowing over $400 doesn't seem that bad to me with $20k in your pocket for a DP...if my math holds up.  I am in a somewhat similar situation in Cincy so curious how this works out for you.

I have been through the same thing. I spent a fair amount of time gathering the information I was told I needed to appeal the decision. My real estate agent also took his time to gather comps and put together a professional looking report to present. I went before the board to present my case and they barely looked at my findings. They asked if I paid what the new assessment was for the property to which I answered yes. They basically then said that because I paid that amount then that is the new market value because I am the market. I tried to argue with my comps but honestly deep down knew I had no argument because they were correct, I was the market. I spent no more than 5 minutes in front of the board and spent at least a couple hours preparing. Now whenever I run numbers on a property, I assume $100ish more per month for my property taxes.

Does anyone have a Lima One Capital contact that is local to Cincinnati?

Appreciate all the input!  I just signed a lease with a young family on the property and was able to avoid this issue altogether.  

Thanks Bjorn!

I just purchased my first rental property (3 bed/1 bath townhome).  I am in the process of finding a tenant and have interest from a couple different groups of young adults.  Both situations are 3 non related young adults that would be splitting the rent.  My question is, do I have 3 separate lease agreements for each person?  Any and all advice is much appreciated.