All Forum Posts by: Ian Tvardovskaya

I think we are missing some details as to why this is a great deal. You said what the house was worth 3 years ago, but what is it worth today? Your numbers don't appear to be that great. 70% of $92k is $64k and at a purchase price of just under $60k there isn't a lot of room for repairs and renovations.

Check your state requirements. Ohio requires you have your broker license. Once you meet those requirements you file with the state like you would any business entity.

There are good and bad tenants no matter what zip code you invest in. If you stay with Columbus, you will want to stay on the east side for small multi families. I'm general B class neighborhoods have single families or large apartment complexes.

Welcome to BP Patrick!

How are you marketing? I would post on facebook and ask friends and family to share. I would post 6 times a day on Craigslist. I would ask other tenants if they know anyone and offer a referral bonus. I would post fliers at the library, community center, and bus stops. If all that doesn't work I would take a look at your product and ask does it meet the local markets needs?

I would not offer them a new lease, even MTM. If they can't pay now why would they be able to pay rent plus 5%? Why would you want to go through this in September or October again?

Just send a letter notifying them of the change 60 days out. "Dear Tyler Tenant, As of September 1, 2018 your rent due each month on the first will be $500. This is an increase from your previous rent of $450. If you wish to vacate please be aware that your lease requires that you provide a 45 day notice."

I would take F, L, & S. that model has worked for you in the past and it keeps your new tenant the same as all your other current tenants. I wouldn't assume the parents will be or are able to bail their son/daughter out of trouble just because the child has a credit history.

Hey John! There are quality tenants in every neighborhood the problem is finding them! Set up screening standards and follow them. When you get a good tenants provide good customer service. Fix things promptly, respond to calls, and respect their privacy. Provide a place you would want to live is the best advice I could offer whether you invest in A or C class neighborhood!

You will have to find a duplex and be in a C class neighborhood, but it's possible in Columbus, OH.