All Forum Posts by: Jack Abbott

Thanks Chris, 

Yes I agree, I think the best route for me is to find a pre-existing cabin. seems clear that a good view and "privacy" would be big factors for success in this area of rentals.  I would like to talk to you more about this if you have time for it down the road.  planning an visit of the area in August to get a better understanding of the area. 

Thanks again to all of you that have responded!  keep it coming!  

This business really does rely on the positive connections you make and my intention is to give more than I take from the community!

Jack 

I've had my share of problems with Cleveland Water for sure.  

Example..  they could not give me an actual meter read for about a year and a half.  Claimed that the wire to the meter was detached and on this property the meter was in a "vault" near the street.  no easy access for me to check the meter myself.  took MANY months of escalating to get the right crew to come out and make the repair (i was told that crew had a 90 day window for repairs!).  the part of it that was maddening was that the unit was empty for a few months during a rehab/re-rent and they kept charging me full estimated usage as if it was still occupied.  Ugh

One relatively good change is that the new smart meters can alert you if it detects leaks or constantly moving meter readings.  that's my first indication I need to get onsite and go over the property for leaks/running valves.

Thanks for all the input! 

I am planning a trip down to the TN area to do some "boots on the ground" research.  If anyone has any other helpful info or leads on areas I should be looking, areas to avoid etc it would be greatly appreciated.  

@Ken Latchers

Thanks Ken.

By no means am I looking to rush into anything. I am a disciplined investor. This is just a jumping off point for information.

Thank you for your reply!

It is a lot to consider and I realize there will be different issues from owning SFR. My goal is long term and only if I choose to relocate to the area to self manage.

@Avery Carl

I do not currently have a location. Looking into the smoky mountain TN region. Initially just trying to get any background on buying existing as apposed to building them out. I have zero experience in vacation rentals but ideally I would like to build one to live in and then eventually others to rent. If you put single rent cabins on a single piece of property is that considered commercial?

Thanks for your response !

Interested in hearing from anyone that has bought or developed cabin rentals on wooded lots. Hoping someone on BP has some insight into this area of rentals. Ohio West Virginia Tennessee

Thanks in advance to you all!

I bought a real rough property near St Rocco about 5 years ago.  Needed quite a bit and the neighborhood is shaky.  Its taken some time but it is getting better and I saw that there is a big investment being made in the Clark-Fulton area. 

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I also saw that an empty lot near my rental is being developed with new construction, and if someone is doing that, they must believe the area is able to turn around.

Best of luck to you all!

@Shawn O'Gorman

My first move away from home was into a duplex with a third efficiency suite. I was 21. Best move I ever made. Lived in 1 unit for four years before I bought number 2.

Just bought number 7.

If your confident in making the move and are not afraid to really learn the ins and outs, You will be fine.

I didn’t know anything when I bought my first. Believe me. You learn real quick when the upstairs hot water tank blows out! ( yes it happened to me )

Good luck and welcome !

I also just closed a HELOC on an Investment prop in Cleveland

Also Huntington - 75% LTV

Appraiser came and did a full inside\out inspection of the entire property\garage etc.  

fairly easy to work with but they are not as fast as I would like.

i agree with you, I would remove them before cement boarding.

it would give you a chance to see the real condition of the existing sub-floor for one, and it would raise the new floor slighter higher than it would need to be if the old material was left there.  

Also, consider using a porcelain tile instead of ceramic.  it is much more durable and less likely to crack if something heavy drops on it.

just my thoughts.. I am not a floor guy by trade, but I've done my share.