All Forum Posts by: Frank Wolter

You be surprised on how many people do not contest their property taxes or don't even know you can. When I purchase a property of course the only way I do is if it's a good deal. Being local In Cleveland its much easier than an out of town investor. So when I buy of course I always look at the counties value off of the County web site. Here it's on the Cuyahoga County Authors site. My purchase price is always lower than the Counties value. Here we can contest values once a year January-April. Once you file the paperwork you will have a meeting with the Board of Revision and present your evidence. Here your trump cards are your HUD statements and purchase agreements. They have to honor those purchase prices on that statement. BUT I SAY BUT be very careful. They want to know if you know the seller any way at all. If you do know the seller by chance it could throw a wrench in your argument. They're assuming your lying since you know the person. They can not prove you know the seller so that's up to you if you tell them the truth or not. I told them I knew the seller on one of my purchases and was honest about the purchase price and they gave me hell for no reason. Once the hearing is done your decision will be emailed and mailed to you. As long as you came with the HUD and Purchase Agreement you will not lose. I've contested all of my 44 properties and never lost. For our properties and our out of town investor partnerships we handle the tax contesting. We understand that RETURNS MATTER. So on average fighting these taxes we increase our returns from 2-5%. That's a significant amount. The country does reevaluate the taxes every 3 yrs. But they have never raised my taxes drastically from what I fought it to be lowered to, if they raised them at all. So investors fight for every angle you can. It's your money increase those returns!Good luck investing (THESE ARE EXAMPLES OF LOWERING TAXS IN THE CLEVELAND OH ARE) Tips: if your unsure of filing hire an attorney. I did all paperwork myself because when I first started money was tight. I also wanted to learn the process. the process the the system. But now I also bring an attorney, the board of Revision see

@Zach Barber I like the home depot allure

@Steve Sun Cleveland has done me very well. I suggest you be very careful who and what areas you deal with and buy. I work with alot of out of state Cali investors. Boots on the ground is a huge factor. I can not emphasize this enough. Brokers and Realtors are not the support you need. They can not highlight bad areas due to licensing rules. PM you must keep your thumb on. If you have any other questions about Cleveland feel free to in box me

@Joe Splitrock lol but that was a joke. But seriously all my opinions are based off of leaders in the investment industry. The ammunition vs. Precious metals opinion is actually a Dave Ramsey theory. He doesn't believe in precious metals because if things get that bad again ammunition and guns shall rain supreme. I bounce off of Dave Ramsey, Hary Dent and Peter Schiff. The jury is still out on what's about to happen. So I diversify myself along the 3 opinions.

@Chris Jensen we have over 38 homes and 6 apartments currently. All free and clear. Totaling over 122 doors. I'm going to start a You tube channel. I'm going to spell out my tips and advice as well offer my investment opportunities. Look out for it it will be on my page

@Carly M. I brought this up in one of my posts here in Cleveland. People are just taking advantage of out of state investors. From all fields. Brokers and Realtors cant steer you out of crappy areas. Because of licensing rules. So you could buy in the wrong area. That's why I don't want my license. Handyman will definitely over charge you and bill for things not done. Landscapers will cut the front grass and not the back. This I experience here and I'm local ugh. I could only imagine what out of state guys feel. We manage our own investments. Its safer that way. I have a bunch of my own properties and partnered up with some out of state guys. They and I think no investment is safe unless there is skin in the game.

@Chris Jensen I managed bank owned properties. I bought homes for 5k, rehabbed with my own 2 hands to minimize out of pocket expenses. Now those same properties are worth 50k each minimum. Sounds crazy but those were my best times. Buy low sell high. I still buy pick and choose good deals now. But I'm waiting for this bubble to burst so I can splurge again. Millionaires are made in hard times.

@Joe Splitrock I think your taking my statement literally. This conversation expanded past a 1031. I'm speaking in general. It's been an issue I've thought about I'm sure just like everyone else. My point being I've thought alot about the dollar collapse and the precious metal rally. If it gets to the point where it's that bad. Then there will be alot of robberies for those precious metals. It's the cop in me able to read the best in people. Lol

@Michael H. I've read and thought about this crash for about 7yrs. From what I've read it will be similar to the Depression. I read a book called "AfterShock". I believe this to be how things will go down. It said the collapse will happen to the next president after Obama. If this happens there is nothing that will keep your investments safe. NOTHING. SiLver and gold is an option. But silver is heavy and gold is very expensive. Also most people cant afford either. In addition you'll eventually run out. To me more valuable than gold and silver is ammunition. If it gets as bad as it might. Your gold and silver cant take my ammunition. But my ammunition and guns can take your g+s. Another thought process is that America is the biggest gangster. If we fail then America pulls its guns out (via military) and forces a reset of debts and goes to war with anyone that doesn't comply. Either way unless your a billionaire or an elite there is NO SAFTEY. ANYWHERE. NONE. You can not keep your investments safe. I have amount 4m in unleverage real estate. Probably a great position. But its nothing. That's not even a drop in the bucket. There is no answer. But the weak will fail and the strong will survive.

@Matt K. Were all sitting back and watching Cali, Seattle and other unrealistic markets. You don't have to be a mathematician to see these cities are on the brink of a major market bust.