All Forum Posts by: Kimberly B Bell

I agree that taxes are predictable. They increase with the value of the home. So they can become much higher than they originally were as opposed to california where the tax increase is capped. Taxes can be greater than the mortgage in Cleveland. I understand that it is what it is- it’s just another significant  expense. I know the property value can be contested for valid reasons but as the property values increase- so will the taxes. The rents may or may not increase as much as the taxes. It’s just different from my home state. Just a cost to keep in mind. 

I’m not sure what I paid. Seems like they had to have more than one inspection to pass- so 450 is likely good if they’re guaranteeing to do all it takes to pass. Happy to talk more offline. I’m interested in who your property management team is and how you like them. I think you need monthly rent to be 2 percent of home cost to get cash flow with all the costs in Cleveland. It’s nice the market is appreciating. 

what are they doing for the full service?  Thanks for confirming the rental loss experience.  

Hi all

I have five doors in the Cleveland area that I bought in early 2019.  I am wondering if anyone is still finding deals that will cash flow.  Three doors are in a D neighborhood and two are in B-C neighborhoods.  Cleveland seems to come with many unanticipated costs such as high property taxes and now the lead certification process that has to be reissued every two years. I am wondering if others are finding good solutions to permanently fix the issues with lead paint at a reasonable price. I have gotten taxes reduced by contesting the value of the B-C properties.  I have lost quite a bit of rent due to Covid and have had to evict two tenants after the initial moratorium lifted. It's a bit hard to really assess how good a cash flow investment I have given this. I am curious if others have noticed a change in cash flow during Covid.  Thanks!

Thanks for your reply! I’m not sure what the story is. It’s confidential which is understandable. Based on a prior request from the tenant - I think it’s bc there was a shooting in the area and a fire in a neighbors home. I don’t think anyone is harming her. I’m all for people getting their needs met. My question is this a common occurrence? I did not realize the government would break leases for something the landlord can’t control. Yes- I’m unhappy to have to get the place Rent ready and pay another lease up fee. I’ve suffered from the eviction moratorium too- hence the government subsidized renter. Partly I’m venting. But partly looking to see if this is a common thing and has anyone had any success requesting financial assistance from EDEN in such cases. Thanks again

We own three sfh and one duplex in the Cleveland area.  One sfh and the duplex are in the hood.  The other two are in decent areas and are looking like they may be in the 80-90K valuation range.  We paid cash and would like to pull the cash out.  Any suggestions for blanket loans? No loans except on our primary residence.  Excellent credit scores.  Thanks in advance

I have a property in 44120 zip code.  EDEN approved a one year lease-tenant obtained an emergency transfer six months into the lease.  Has anyone had this occur? I will request lease up fees and rent ready prep from EDEN -but not expecting much.  Has anyone had this happen?  Any suggestions on how to deal with this?  I thought that a lease was a lease -especially with the government-but I guess not.  Can this happen with other subsidized housing?

I’ve unfortunately had bad experience with Real Wealth Network. I flew to Cincinatti after being on the waiting list to purchase there for over six months. I was all ready to purchase since Missy Has such a great reputation among  members - “she is worth the wait” is what everyone said. 

I wasn’t able to buy because The woman who handled sales was on a long phone call. 

I wrote follow up emails to both Missy and the woman in charge of investor relations. I haven’t heard anything back for months  

In the meantime I lucked into a personal referral in another market and have bought a home with much better ROI.

It is apparent to me that the homes are sold at about 30,000 over the local market value. (We are talking 100,000$ homes so that’s a 30% markup and still no customer service).   The explanation provided by the affiliates is that they have done stellar rehab on the homes so they are worth the extra money    I don’t know how investors are fairing because the margins are tight at this point in the market in Ohio.  I would maybe not begrudge the profit if I hadn’t been completely ignored after taking four days to go see the area. It’s dissapointing because I love the real wealth network podcasts and what they say they are trying to do.  

We had even worse experience with their north Texas affiliate who required us to sign an exclusive contract with her prior to looking at her offerings. 

She was late to a phone appointment with my husband who observed a new post to her personal Facebook while she was running late. She did not seem to understand that home prices could possibly ever go down.   So- not every impressive.  

I really wish I had more positive information. 

I’m interested in southeast Michigan. Im not sure if I should reply to the forum or contact people directly. I’m planning a trip in the next month or two. Im interested in connecting with people who know the area Thanks!

I’m looking for that or a place with tenant that can be rehabbed when they leave. Looking for some positive cash flow and hopefully appreciation -  I don’t need crazy high returns. I’d like reasonable returns with reasonable drama. Thank you so much.