All Forum Posts by: Jeremy Shechter

@Rob Gillespie

Thank you Rob! Actually the house is in Cleveland, 44128, just near warrensville- my mistake. I found the info to register the house- thank you.

I just bought my first rental in Cleveland, OH, and I keep hearing people say, “make sure you go downtown to get approved” or “take the landlord seminar”.

Can someone please give me some more specific advice on this? I cannot find anything online about having to register or get approval to have a rental property in cleveland.

I can go wherever- the house is in Warrensville heights and I live within 15 minutes.

Thank you in advance!

I may be looking at wholesaling a few deals in Ohio as I get started out and am interested in a few specifics on how the process works.

The way I understand it is:

1. Get a deal under contract with the seller for an agreed-upon purchase price.

2. Find a buyer who would be interested in buying the property (at purchase price plus my fee)

3. Transfer the contract to the new buyer

I do not fully understand how step 3 works on paper, specifically. Lots of general info out there, but I do not understand how it practically works or what paperwork is involved. Is it another offer contract? some more clarity would be very helpful. Thank you!

I am so excited that after a year and a half of reading, analyzing properties and setting my mindset I am finally jumping in to REI!

I have been birddogging to start getting leads coming in and am a little bit worried about the logistics of making sure the proper framework is created to handle a deal when I get it.

A lot of it is confusion on how the LLC setup process goes, if I need an LLC to get started, etc..

1. I do not currently have an LLC set up. Is it OK if I purchase the first property under my own name, then transfer to an LLC I create in the future? Or should I just wait until the LLC is set up to move forward with anything?

2. Is it necessary to create a new business bank account and credit card?

3. Is quickbooks what most people use to set all of the bookkeeping straight?

I may not be asking the right questions at the end of the day. What tips or processes could you offer someone SUPER green to get started right away without making a lethal mistake?

Thanks BP fam!

Thank you both. Do you typically have a softer LOI you use once negotiations are complete, then a more formal purchase agreement later? Thanks, Remington, that would be very helpful.

Hello, I am curious how people get or create offer or sales agreement documents. I do not have an attorney at my side, and wonder if most people do, or if they rely on a real estate agent? Are there standardized and available state-approved forms? I live in Ohio and am looking to invest in the Cleveland area. Mostly Bedford, Warrensville Heights, Mentor, or Painesville.

the legality and documentation is really seeming to be my biggest hindrance to jumping in, and any help will be appreciated!