All Forum Posts by: Lior Golan

Hello,

I am in the process of purchasing one of my first properties that after the inspection I found out a lot of garage problems.

It has bad roof, rotted wood, the garage door is old, the garage opener is not working (the electricity cable is cut), the concrete is in bad shape... I am trying to lower my offer price because of the garage condition... but I am wondering what I can do. I afraid that rehabbing the garage would be useless (I still didn't bring any contractor to see the property) and was thinking about replacing with a new garage...

I am about to hold and rent the property, don't want to flip it.

What do you say? based on the condition, you think I should replace it (probably at least 6-7K) or maybe rehabbing it will be cheaper?

Thanks

Note: I didn't find the right forum to post on other than this one.

Hello,

I am a long-distance investor who investing in Ohio. I just purchased my first property and I want to start finding property managers who can help me to oversee the rehab process and be my eyes on the field.

My question is what do I need to look into a property manager who can help me? Like does he needs to charge me more than a normal service...? What to ask him further...?

I would like to hear from someone who had experience with long-distance investing with tips having that kind of a relationship with the property manager in the time of the rehab.

Thank you

Hello everyone,

I am starting my journey know worth buying and making offers on a properties and one thinking to increase the value of a property is by adding bedrooms, and found out that the basement is a great way doing so.

But because I still don’t have experience with the rehab process, I don’t know how much approximately it’s cost to add 1-2 bedrooms and 1 bath into a normal 800~ SqFt basement.

I know that you can’t give me an exact number, but I want more an average amount from maybe your recent projects.

Thanks!

@Zeke Liston

Well just also heard about this area. Are you investing there?

Go to that website: www.howtostartanllc.com

They have very simple steps and really comprehensive youtube videos on how to do it by yourself.

I established an LLC by myself with that and figured out that it's really simple, yet a little bit long.

About the Operating agreement, each state has it's own rules of if it's obligated or not. I established in Ohio where it's not necessarily doing that, maybe your state does, so with that maybe you need to consult with an attorney. 

@Bob Collett

Thanks for the advice!

@Bob Collett

What do you mean agent? 

I checked, it does need 200$ per year per unit. is there any good neighborhood to invest in the area that does not need a Certificate of Occupancy? 

the "lead safe" inspection you mean the city inspection (POS)?

@Bob Collett When I am saying foreclosure agent I meant the agent that listed the REO's for the bank from their asset manager :)

And yes, Point of sale (forget the name). Ohh and all POS cities, they have to pass POS inspection, got you.

And what do you mean by rental inspections? Can you please explain? 

Thanks 

Hi.

I am in the progress of making offers on few foreclosed properties in the east (Euclid, South Euclid, Cleveland Heights...). This is my first time interesting in this side, before that I was interested in the west but because I want to BRRRR, and for that I need to pay cash, I was lead to the east. After talking to one of the foreclosed property agents, they mentioned that in these cities, properties under a certain price has to pass a city inspection with a contractor to see what needs to be fixed for the property being livable.

The agent told me that in their company, there are trying to run the city inspection right away but some do not do that.

So I need to find a contractor, that is also licensed in the same cities for the consequences where the property does not have city inspection.

What is the best way finding them?

Thanks

@Lamont Marable @James Wise

I would like to talk have a small talk on the phone with you about your investments and how you approach them. So this is OK, can you DM your phone number?

Thank you 😊