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All Forum Posts by: Konstantin Samorodskiy

Konstantin Samorodskiy has started 0 posts and replied 28 times.

Post: How Did You Create a Waiting List for Your Rentals

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11
Originally posted by @Al Williamson:

I'm going to figure this out. Having a waiting list is an extremely valuable asset that I've been overlooking. Now that I've publicly declared that I'm going to operate with zero vacancies, I cannot afford to be lazy just because I typically have a strong cash flow.

 Hello!
What solution did you choose for the waiting list procedure? We have a few requests and want to establish one before winter hits pretty hard here :)
Our current software (Buildium) doesn't offer any options except just applications. Want to have a tool with all notes, sort/filter options, reminders etc.

Have just regular spreadsheet as for now.

Thanks!

Post: Bookkeeping with Buildium

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

Can you share some details?  At least a few cases what was wrong with their support.

Post: CLOSED on a 98-unit TODAY!

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

Looks great!
How much do you spend per unit on the interior? Any large ticket items (new panels/HVAC)?

Post: Cincinnati Property Manager Recommendations?

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

I heard good reviews from my friends about Equity Team as well.

Post: who pays for refrigerator ?

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

It might be a good idea for the next time to move this fridge to another rental (replace the oldest one just as preventive maintenance and don't move it into the shed) or sell as used one immediately to get some money back while it's still not outdated.
If you decide to keep it as an emergency replacement in your shed, take care of it and don't charge residents if you agreed to allow them to use theirs from the beginning and didn't take appropriate actions on your side right after that ;)

Post: Anyone do business with North Coast Commercial Group?

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

Neal helped us to get two hard money loans (we bought two 27unit distressed projects) extremely fast. All communication and service were exceptional. We decided to work with him to get refinance as well once we stabilized first project and he found the great lender for us as well.

Will work with him again any time we would need fast bridge loan. We had regular structure though (one LLC - one property).

Post: First Investment ever! In Dayton, Ohio area

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

Good luck! Let us know how it worked out later.

Let me know if you need a good contractor for flooring in Dayton.

@Ben Bauer has great references as real estate attorney in Cincinnati.

thebauerfirm.com

@Cory Dessauer , don't include any reasons to 30-day notice. If the resident doesn't have fixed lease and has month-to-month only, simple 30-day notice about ending the tenancy is sufficient without any explanation. In fact, they can use any reasoning you used there against you in a court (when you will file eviction for possible holding over the place). 
I can send you the form we use if you want. 

Inherited residents are often hard to deal with, we finished 4 evictions last 4 months. You shouldn't list any reasons, make verbal explanations only if you want.  We didn't offer cash, offered 45 days too, full security deposit back (we do full remodeling anyway)  and U-haul truck with a driver once (in the hardest case).

Still didn't work, residents got advice from some random fake attorney, threatened us with FBI once :) and we had to file the eviction for holding over (after additional 3day notice btw).

It took 1 minute for the judge each time to explain to them what month-to-month means.

They were trying to make arguments about rehab (they almost intentionally did cause leakages to lower floor units), retaliation, living too long on a property etc, but all of that isn't valid in a court as long as you posted a correct notice.  At least in Ohio as a landlord-friendly state.

Tried to approach them nicely and with good concession (instead of paying legal fees), still didn't work for us :-/

Feel free to send me PM if you have any questions. Not legal advice, but we did the same 4 times last 4 months, including one move-out last week.

Post: Just bought a 18 unit for $12,581.36 in Ohio

Konstantin SamorodskiyPosted
  • Investor
  • Dayton OH/Cincinnati, OH
  • Posts 30
  • Votes 11

What's your idea about potential ARV? We have properties in this area and I'm pretty sure it will be appraised around 25k per door or less.