All Forum Posts by: Kyle Plants

Hi Albert, I grew up in painesville and have rented a few apartments in painesville. Most of the water and sewer is provided by the city of painesville and I’ve had to get it all switched over to my name whenever I was renting an apartment every time except for one unit. 

I’ve heard of people installing separate water meter as to include that in the tenants responsibility. The city of Painesville itself is a pretty small city maybe around 25k in population. There is a lot of low income population however there’s a decent size collage Lake Erie Collage so depending how close you are to the school you may be able to rent to students if your into that. I’d definetly suggest finding a PM that does a really though background check, painesville can be kind of dicey in certain areas and there are a ton of the “professional tenants”. 

Overall Painesville is my hometown and I love it but I’d suggest extra caution if you don’t know the area. There is another investor I’ve spoke to on BP from California that invest in painesville and lake county. I think his name is Mike Swan.

@Jon Holdman thanks for all the info! Very helpful.

I’ve heard that the federal government has set a limit of 10 mortagages per person. My question is on loophole in that limit. If someone is married would the husband be able to get 10 in his name, 10 in the spouses name? Or do they married couple count as one person according to the feds? Also if the ownership of the house is put in an Llc would the mortgage be able to be in the llc name and therefore not count as one of the 10?

@Jorge De Jesus perfect! I knew there had to be a system already in place for that, just didn’t know what it’d be called. I’m an insurance adjuster right now by day so I don’t mind awkward conversations lol.

Specifically old dead peoples houses.

Not sure if wholesaling is really the appropriate category for this topic. Anyways, I’ve been thinking about how I want to start finding some single family and multi family homes to invest in a buy and hold Strategy. One idea I was thinking about is getting to know some local funeral homes and inquiring with them if the have customers that might have a relative that has passed and has a house that the family wants to get rid of. Maybe a funeral home might not be the best, maybe an agent. Has anyone ever done this? If so, what method was effective?

@Jeff Brower, willoughby is a great area, especially if your close to downtown willoughby. Where’d you move here from if you don’t mind me asking?

@Herbert Reihner, my buddy TJ actually told me about that meeting a couple weeks ago. I’ll have to come and check it out one of these days.

I’m getting ready to make my first jump into real estate investing. I’m most interested in buy n hold properties in lake county just outside of Cleveland, and maybe the west side, single family, multi family properties. I’ve spent the last 10 years in the insurance industry so I ubderstand some aspects of that world. I can probably benifit from learning more about mortgages, laws and taxes. Very excited to starting having my money work for me with alittle bit of elbow grease maybe I can pay for the kids college eventually.

@Jason DiClemente I would continue to pay on the personal loan and use the cash out to buy more properties. I’m thinking it might be better to just pay off the personal loan with the bank loan.