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All Forum Posts by: Gwen Fyfe

Gwen Fyfe has started 11 posts and replied 220 times.

Post: Real Estate Lawyer in Cleveland?

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

I use Darren Dowd and I'm pretty happy.

Post: Habitat for Humanity - Volunteering/Networking Opportunity

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

Interested!

Post: Criminal Complaint in Cleveland.

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

That's nuts. What neighborhood?

I left a can by the curb of a vacant property for weeks, totally forgot to move it back since I wasn't there much. The guy who does all my inspections from the city called me up and reminded me, I drove over and moved it. No biggie. I can't imagine slapping you with a grand in fines for one day, maybe your property manager hasn't been keeping up with things?

Post: Out of state investor tax filing question

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

You're welcome! Best of luck!

Post: Out of state investor tax filing question

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

(It's not actually wonderful. It's freaking ridiculous.)

Post: Out of state investor tax filing question

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287
Originally posted by @Noam Ofan:

@Federico Gutierrez and @Gwen Fyfe - Does this apply to my rentals in South Euclid, Maple Heights and Garfield Heights or is this only for rentals within Cleveland, OH ?

 Welcome to the weird and wonderful world of Ohio municipal tax returns! Every city in Ohio does their own thing. I spend as much time doing city tax returns as federal for a lot of my clients.

Garfield, Maple and South Euclid are all RITA cities. (The other big municipal tax contractor.) So, you need to look at the pages for those cities on RITA's website and look through their rules, then file a RITA return if necessary, or hire a local tax professional to do it. 

Garfield Heights

Maple Heights

South Euclid

Post: Out of state investor tax filing question

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287
Originally posted by @Sunny D.:

does this apply even if reported net loss in my federal filing after accounting for mortgage interest, depreciation and  expenses for maintainence and when acquiring the property

i didnt file a city of cleveland return nor state as there was no net income

 Yes, you still need to file.

City of Cleveland taxes are collected by the CCA (one of two contractor organizations that deal with municipal tax in Ohio, and definitely the nastier of the two.) According to the CCA rules and regulations for the city of Cleveland:

5:01.I "Any person receiving rental income from any property must file a return whether or not there is any tax due."

Disclaimer: I am a tax professional, but I'm not your tax professional and don't know all the details of your situation. Just giving some solid general information here.

Post: Tenant Applicants say the dumbest things

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

Have a couple of units up for rent at once so I'm getting some dumb stuff.

Applicant at open house, standing in front of hooked up stove and fridge: Do these appliances stay?

Me: Well, I provide these and I don't change the rent for them, but I can take them out if you have your own. There's also hookups for washer/dryer downstairs if you want to bring those.

Applicant: So you're not going to replace these?

Me: No? They're working great, everything was just cleaned and tested.

Applicant: I just thought the appliances would be newer.

(They're nice appliances... this is a working class neighborhood where lots of landlords charge extra for ANY appliances...)

------------------------------------------------

Me talking to applicant on phone: On credit score I just look for above 550, is that going to work?

Applicant: Well I'm not gonna lie I'm probably not above that line. I dunno about a credit score of 550. Because see I just declared bankruptcy this last year, I was on the same street that house is on and you know that intersection that doesn't have a stop sign? Like you're just supposed to pay attention? Well I got into a bad accident there and they couldn't tell so OF COURSE they decided I was at fault or whatever, and I had to pay this guy like thirty grand.

Me: Well that's unfortunate but I'm afraid that I really have to apply the credit score standards to everyone or I get in trouble with fair housing.

Applicant: No I get that but I'm really good for it, I'm good on my rent I'm just looking to move because I have a baby and you know, he's starting to crawl, and I don't want to be in a place with stairs.

Me: This unit is actually on two floors, it does have stairs. You can apply if you want but the credit score, you know...

Applicant: Well do you have any other places? If i see any of your other ads I'll call you up about them. Just be sure to post pictures of the stairs if there are stairs.

Me: Well ma'am I have the same credit score requirements for all my apartments.

Applicant: WHAT?! *click*

Okay...

Post: Opinions on Holton-Wise Property Group

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287

 Please don't write off Cleveland because of Holton-Wise. It's a great area both for residents and investors.

Post: Opinions on Holton-Wise Property Group

Gwen FyfePosted
  • Rental Property Investor
  • Cleveland, OH
  • Posts 227
  • Votes 287
Originally posted by @Brendan Taylor:
Originally posted by @Jason Goretzki:
Originally posted by @Russell Brazil:

@James Galla I find it hard to believe the criminals in your neighborhood dont know how to cross the street.

 Some streets in Akron will go from boarded up housing to six figures back to being boarded up again.  

Howard going into Cuyahoga Falls does this, as well as Delia Avenue. 

In my zip code you could buy yourself a million dollar home or a 10k property with the properties being separated by a half mile.

 Yeah. Cleveland has a ton of neighborhoods like this too. My partner was commenting the other day that Bratenahl must be weird place to live, because it's a gorgeous neighborhood with large expensive homes, and literally the next block over are dilapidated slums.