All Forum Posts by: Itay Heled

Thanks James,

you would know what a specific tenant voucher pays during the screening process correct?

Hello members !

I have a 3 BDR one bath  house in Maple Heights Ohio that I am considering renting to section 8 tenant .CMHA chart for the house zip code showing a max rent of around $2000 for 3 bedroom.

I know market rent of my house is approximately 1300-1400 $

I am adding efrigerator and oven.

The house is older but in decent shape. Can someone who is expirienc with section 8 estimate what would  get ?

thanks!

itay

Thanks Michael 

thats the type of info I was looking for.

I feel I need to clarify.

having a local agent is not the issue.its the fact city forced this local agent to be liable . So let's say out of state landlord fail to make a payment , bankrupt pass away etc the agent is responsible. 

that is the problem and that is why I mentioned most property managers would not do it.

Hello fellow investors.

I read a new decision to force out of town landlords to hire a local agent passes in Feb in Cleveland 

(see below)

https://nlihc.org/resource/cleveland-passes-ordinance-streng...

would like to know  what it actually mean?

I heard some believe no local agent that knows what they are doing would  sign this and on the other hand some are very skeptical the city would even  enforce this given the domino effect it may create. 

since I am considering buying a new investment property in Cleveland I  would like  to know: 

are there any solution if the city decide to enforce this?

Hello investors,

I have two long term sfh in Cleveland and considering purchase a third one for short term rental.

Anyone with experience operating short term rental near hospitals in Cleveland for traveling nurses/ staff /patients that can provide a feedback? 

thanks so much !

itay

Hello fellow investors

I sold a house in clevelend two weeks ago and title company sent funds to my TD bank  in canada from chase via Bank of America  .

never got it. title claims intermidiete bank of America / OFAC may be holding funds for investigation.

Is this makes sense? Anyone knows how to deal with this?

Thanks!

Itay

I consider 630 and up.

what happens to me twice already is that I rent to a couple. Wife  had good credit , a job , good rental history etc. Then , they split  due to domestic violence, the women is leaving , the man stay and I am left with someone I would never want as my tenant... 

Hello fellow Ontario investors!

looking for your experience and wisdom regarding screening and selecting tenants in Ontario.

I own a legal duplex in Barrie Ontario since 2014.

in recent years, I had a few great tenants, some ok tenants , handful of  bad ones, and two that was a complete nightmare.

last tenant  , haven't payed rent for 9 months and caused significant  damage to the house. he  is finally (deep deep breath...)  out.

I was learning first hand , what  some  of you probably knows well: the tenant landlord board in Ontario is a broken biased dysfunctional body.

so far, I did the screening process myself.   I post on kijiji & FB groups and then did the obvious checks  (credit score, previous landlord references, verifying income, speaking with employer and often insist on Guarantor etc) 

all my tenants had , on paper , good credit and rental history and none of them was on disability or other government program

  how do you lower the risk?


1  is listing  with an agent really  reduce the risk  and worth the cost?

2 Are foreign students at Georgian College  with solid guarantor might be a safer option? 

3 any other  idea/strategy   that one can apply?

Thanks so much!

Hello fellow investors! 

I  live in Toronto and I am investing In Cleveland in the past few years . 

flipping houses, that are  mainly sold as turnkey. I did about 8 flips so for. so  not a ton of experience but not a newbie...

I establish over time a nice  local team as we all know is needed.

few month ago, my main   local partner/contractor  failed me. 

18,000$ first draw of renovation was taken and job was not done.

he was very fair with money before, so I  can only guess , he got into trouble with other deals and tried to solve it using my funds. 

the next contractor I hired ,was recommended by my local relator.  he did few projects for her before.  he was honest and professional with her. that makes me feel much better.

when he heard the story , learn the amount I  paid, and saw what was done in the house, he seems to take it almost personally : "I am so  sick of local contractors that do that! it paint us all in a bad light!  how can someone do such a thing that and hurt their integrity and reputation??"

few weeks later, he did the same thing. I lost close to 30k on both contractors on that single house. 

my two cents here: 

A Clearly the fact you worked with a contractor for a while, and all was good does not mean your next project is "safe"

B  often out of state investors are seen as "easy prey" and great relationship they had with a local does not mean an out of state  will get the same treatment..

I am asking you, the experienced out of town  investors that works with a local contractors:

What Am I missing ? How do you do that? 

since most serious busy contractors ask for money upfront , how do you reduce the risk? 

Thanks so much!