All Forum Posts by: Jack Bier

Yea, I think I'm just gonna rent it as storage then. What do you think about that - that's legal right?

Thank you for taking your time to reply to me. How much do you think that would cost?

Is it even worth it if the garage will only bring about $4-500/month in rent? 

Hi BP!

I am looking at buying a duplex in Lakewood w/ an unused 2 car garage. Where I live, in Miami, it is common for landlords to fix up and rent out a garage as an efficiency. In Miami, it's usually done w/o permits. Is this common in Lakewood/Cleveland?

Thanks for taking your time to reply to me everyone! I'm going to 1. Take a walkthrough video before closing as the "reference" for if the tenant moves out. 2. Have the tenant sign an updated lease agreement if the lease agreement that the landlord has in place now is outdated.

Thank you again!

Hey everyone!

I'm very excited because I am purchasing my first investment property! It's a small house in the Cleveland, OH metro area. I am inheriting a tenant that has been in the home for 6 years, who is currently on a month to month lease.

I'm going to ask for a copy of the lease(that was in place before MTM), their payment history, and the security deposit.

My questions -

-Should I make them re-sign another lease once I take possession of the property?

-Is there anything else I should keep in mind, in your opinion?

Thanks!!

Jack

Hi, I am starting the process to buy a house. I plan on cold calling around neighborhoods I want to live in to find a great deal. I've done it in the past, just not to buy a house, more prospecting for listings. This time, I want to cold call and make an offer myself, using FHA financing. What pitfalls or blocks can you see occuring?

One problem I see is me not having a house selected by the rental period ending, or finding a house too quickly.

The questions I have are:

A) Are there any things I should watch out for with FHA, pertaining to off market deals?

B) The real estate team I work on pays for phone numbers by geography, not necessarily probates, absentee owners, etc. What in your opinion is the best demographic to target for regular people who want to sell their house and allows me to get a great deal?

@Matt Motil Thanks!

@Matt Motil Thanks for the reply Matt! What specific neighborhoods on the west side do you recommend for those 40-50k single families?

Hi, my name is Jack. I want to begin investing in Cleveland out of state. I've lived in Amherst most of my life. My criteria for an investment is:

Single Family or Duplex

C or better neighborhood

10% cap rate

Basic cosmetic rehab ok(I go back to Cleveland a lot), but preferably ready to rent or turnkey.

What price ranges and neighborhoods should I be looking at for such a property?

Thanks,

Jack