All Forum Posts by: Matt Allen

@Stetson Miller- Thanks for all of the helpful insight everyone!

@Corey Morrison- I will DM you for the flood info

I am strongly considering new build construction in NW Cape Coral Florida. The new build is still on the well/septic system but I am being advised that conversion to city services is several years away. I am also advised it is not in a flood zone. For a 4 bedroom property, they anticipate rent at $2500, which seems higher than rents in older Cape Coral. Does anyone have experience in this area and could shed light on the rental market in the new build areas? Are insurance costs reasonable if you avoid flood zones?

Has anyone purchased a property with betterturnkey.com and if so would you please share your experience? I reviewed their website and their houses look appealing although there is limited information on them. I have been unable to find any reviews or other information about them.

Thanks

Thanks for the detailed story. I am a OOS investor in Cincinnati too. Currently just a SFH, but looking for additional opportunities. Would you mind giving me the name of the attorney you used for the eviction process? I am not in need today, but always good to have one for the day that I do.

@Adam Martin

Thanks for the feedback. The plumber (chosen by the pm) estimate was 7500. I definitely think I should get a second opinion on the plumber and appreciate the recommendation for Lay and Sons.

Looking for advice on my situation:

I purchased a listed 4 bedroom 2 bath house in the North College Hill Area of Cincinnati last year (1900 sq feet). I paid $115k. I rented if for $1,350 per month. It is a two story home plus a basement. The second floor has 3 bedrooms and a full bath. The second bathroom is in the basement and I spent 4k to re do the basement bathroom. There is a room next to the kitchen on the main floor (10x10) that is listed as a bedroom.

The tenants are not renewing their lease. There was plumbing issues with the basement bathroom and I am told by the plumber/pm that the basement has a separate sewer line to the street and needs to be replaced to be functional. The property manager is encouraging me to scrap the basement bathroom and instead turn the main floor “bedroom” into the second bathroom. My concern is the house would then be considered a 3 bedroom house instead of 4.

The pm says one less bedroom would not affect the rental price. PM said if I just scrapped the basement bathroom it would rent for $1,200.

What should I do?

@David Frandsen

Hi David

I live in San Diego and considering converting my garage into an ADU. Did you end up going through the process and how did it work for you? Would like to hear the stories from others as well and any recommendations on Contractors to do the job

Thanks

@Lance Castillo

I would be interested to join too. I live in San Diego but have one Rental in Cincinnati and a couple in CA. Looking to add to the Cincinnati market

Looking for recommendations for a CPA familiar with real estate in Southern California. I currently own 2 rentals in San Bernardino and one out of state . I am currently contemplating whether my next step will be to purchase another oos property , or turn my garage into an ADU. I live in San Diego

Thanks

@Chad McLeod

Thanks for the feedback Chad. Helpful info!