All Forum Posts by: Joshua Hollandsworth

Cleveland Water is now billing clients monthly versus quarterly. Is this our opportunity to opt out of paying these bills? I'm talking about low income housing. Are any Cleveland Investors making tenants pay ALL utilities? It seems that most applicants expect the landlord to pay these bills. It would be a lot easier to analyze a deal and recognize cash flow If I can rent units without accounting for utilities. I HATE utilities more than any other expense because they fluctuate. On one property I pay $52.00 on average for Water and sewer per month.  On another property the bill is sometimes as high as $300 combined. I am looking into Fixed Utility Rates.. I am just curious, what are you guys doing? 

Ok thanks

I am in the market for a duplex. I own 3 units. I don't believe my lender will count 75% of my rental income because I have been a landlord for such a short period of time. My DTI is slightly over the limit (48%) Can I put my car loan under someone else's name to qualify for another investment property?

I own a boarding house. Can I generally count this (taxed) income for my next investment property without 2 years landlording experience? Will some lenders count 75% of the rental income on the new property, even If I don't have 2 years of experience? Without including ANY rental income, another mortgage would bring my DTI to about 48%. That is including my current mortgages. Is it possible to obtain financing through a traditional lender with this DTI? Thanks guys!

@Louise Alexander Thank you so much! That's very helpful!

Hey guys! I am looking to expand this year. I have a very general, broad question. Have you ever sold/bought a portfolio from another investor? What are some good ways to finance these deals, and what are the requirements? (I know, very very broad question) Also, when looking to buy a small apartment complex, say 5-12 units. What are the general requirements? Credit Score? Down Payment (Any options lower than 20%-40%)? What are the best ways to approach a "seller-finance deal?" I am a young guy, I own 1 boarding house. My DTI is about 35%. This does not include my rental income (1300-2000 depending on occupancy rates.) My lender credit score is about 750. I am 20 years old. What are the best options for me right Now? I really want to stick with Multi-Family, and If I buy SFR's, I want to run them as SRO's. Thanks guys I really appreciate all of the advice I can get!

I can deal with tenants who are violent. I can deal with tenants who don't pay. I can deal with tenants who are breaching contract agreements. I can kick them out. I can't kick them out for smelling bad. My property manager walked in the house and gagged. They are an older couple. Take a shower? Cash for Keys? Call pest control? Air fresheners? I am lost. Lol

This sounds ridiculous. A couple is renting from me, and other residents who live in another unit are complaining about the dreadful smell. I have been sick so I haven't smelled anything. I know how funny this sounds, but I really need to do something. What is the best way to go about this?

@Sean Kremer Thanks for the advice! I think I will do. Would that be a Zoning Attorney? And what do you mean call my bluff?

@James Wise @Andrew Syrios Thanks for the replies! I want to open a rooming house because the cash flow is better than any Duplex/SFR deal on the West Side. Where else can you buy a 30k house and collect $2000 Gross? I will screen them.. Most rentals In Cleveland are full of hookers and junkies. It doesn't matter what type of housing it is. I am not saying that to be ignorant, I know that you are an expert, James. I would love to hear about better money in RE. I appreciate all the advice I can get. Please send me some info.