All Forum Posts by: Jacob Graves

Over the past few years I have used Utica and recently American Modern. Both had some pretty ridiculous comments after they did inspections on the homes. I take CARE of my properties so it seemed like they needed to prove their worth with minor "infractions". IE mildew on aluminum siding (cleaned within the last 3 years). I am thinking about giving it a shot with Berkshire Hathaway. Any recommendations? For perspective the policy is for 5 SFH.

My agency sets a lot of Cleveland investors up on landlord insurance policies with carriers. Utica and American Modern are two of the most lenient carriers out there. If you can't get your policy to stick with them you should do the repairs. It doesn't really get easier from them. One long shot could be Foremost but I see no scenario where you find what your looking for with anyone other than those 3 carriers.

I will look into that. Appreciate the insight.

0 Votes

Cleveland, Ohio

Sounds like a situation were an 11k price tag was to good to be true... Its hard to find good contractors, I've been there. Nothing you can do other than learn a lesson here.

1 Vote

2 Votes

Cleveland, Ohio

Amir,

I owned a property on e 173rd by kerruish park, close to your home here. I was getting 1100 per month and felt that top of the market was in that range. You'll need to lower your rent cost to get interest, hope that helps.

0 Votes

Cleveland, Ohio

Quote from @Ryan Brouwer:

Quote from @Jacob Graves:

Has anyone actually been asked to make their units lead safe? I have never been sent a letter from the city regarding this.

As a new investor to Cleveland, I had spoken to my agent as well as property management about getting my properties lead safe certified and they both agreed that it was a good idea. In fact, our property management company required the certification before they would be able to market the properties. On top of that, other than the cost of getting the testing and certifications, why not do it? I was able to get proof that my properties are on the up-and-up for lead levels, if I were to have had lead issues, it would have been a lot easier to address and remediate them while my properties are vacant vs occupied, and I'm protecting myself as an investor from potential headaches if the city does in fact start to enforce having this certification prior to evicting a tenant. Sure, this COULD be a cash grab by the city, but maybe there are some good intentions behind it? There is strong data that correlates lead exposure with health problems. I want to do my best to follow the rules in whatever city I have properties in. Whether I agree with the rules or not is irrelevant. I want to provide the best rentals I can for my tenants and hopefully that will translate to happy tenants that will help me build some wealth down the road.

The thought of doing well for your tenants and expecting that in return shows your experience.

No arguments with doing the right thing lead wise, but it really is a bad way to invest thinking that karma will meet you down the road.

Good luck

0 Votes

Cleveland, Ohio

Also the lead cert. is no longer a requirement for evictions I am not sure where you got that information from.

1 Vote

Cleveland, Ohio

Has anyone actually been asked to make their units lead safe? I have never been sent a letter from the city regarding this.

0 Votes

Cleveland, Ohio

I dont believe for any income level you can use passive loss to offset w-2 income.

Only works to offset other passive gains. I'm not an accountant but thats how my taxes have worked the past few years.

0 Votes

Cleveland, Ohio

I think your take on it is exactly what's happening. the bank/plantiff wants top dollar

0 Votes

Cleveland, Ohio

All Forum Posts by: Jacob Graves

Jacob Graves has started 5 posts and replied 61 times.

Post: Pulling permits in Cleveland

Post: Insurance companies used it Cleveland Area

Post: Horrible unlicensed contractor

Post: Insurance companies used it Cleveland Area

Post: We closed on this house on April 28th and it is still vacant.

Post: Lead Safe Certification in Cleveland OHIO

Post: Lead Safe Certification in Cleveland OHIO

Post: Lead Safe Certification in Cleveland OHIO

Post: When Can RE losses not be taken against ordinary W2 income?

Post: Someone outbidding everyone at a sheriff sale/auction