All Forum Posts by: Mitchell Litam

@Al Perez Are you saying you are selling all three houses for $143k?

Vic,

Welcome to Lakewood!! I think you will find it is a great welcoming community with so much to do especially your street being right by Melt and Lakewood park.

I would not consider myself a seasoned investor but I have a very similar situation to yours except I am on the top unit which is basically a 3 bed 2 bath on top of the 2 bed 1 bath unit below. With the third floor being the biggest room by far like you said. Not sure how finished your third floor is but mine is livable. Not the nicest, but I do plan to rehab it soon with new carpet and a rehabbed bathroom.

Also from what I have seen the going rate is about $1000 for a 2/1 in Lakewood. However, I just renewed my tenent's rent to $800 which I feel is still far below rent. 

I think with how hot Lakewood is right now you should have no problem finding people to rent the top floor with renovations maybe with a discounted rate of $900 or $800 if you wanted people lining up at your door. Ive heard on the podcast maybe you can even give a discounted rate for a certain amount of months and have qualified tenants do the work for you (Obviously make sure they are qualified to do the work before you let someone just tear your property up) but that may not be necessary since you are living there as well.

Hope that helped.....I feel like I just ranted on and on. 

Good Luck!

Hey BP Family.

After two years of sitting on the sidelines I am finally ready to start looking for properties again.

I need a realtor with financial experience on the west side of Cleveland.

Does anyone know of anyone that may fit this description?

Hi Molly,

The image you sent is broken. Could you also please forward me information as well.

Thank You

@James Seed Welcome to BP my dude. I am house hacking in Lakewood right now and its awesome. Trying to get a couple more deals done.

If you are good with your hands you can renovate most yourself. Standard Lakewood 2 br 1 bath is going for about $1000 right now. Make sure to use the BP calculators when you can to make sure you get a good deal.

Lets kill it!

Hi all!

The house I am currently house hacking needs major work to the siding. It is currently cedar siding but is starting to show its age.

I just refinanced the house to pay off my partner so that is not an option to pull money out.

What do you guys think is the best possible way to pay for siding without coming out of pocket for? I have gotten estimates for $7500 to repair/replace the cedar siding but not sure what the life of the new siding would be and when I would have to replace the wood siding again. I know the synthetic siding is much more expensive but much less maintenance. Coming out of pocket $20k just doesn't seem like a good investment when I can use that as a down payment on the next rental.

I would like to make a decision before winter. I wouldn't want any damage to the house where the siding is starting to come off.

Anyone have any good ideas on this situation?

@Ryan Arth Thanks Ryan!

I got a couple of people at my work pumped up for real estate and I told them about the meet ups! See you then!

thanks i had no idea about that website

@Ron Szmik @Ryan Arth Hey guys havent seen anything. Is there an event this month next thursday?

Hello all!

Still a newb with one property so not sure where to post this but hoping it works.

One of my siding seems to be falling off.

Problem is it is towards the top of my house which I would say is about 65 feet up in the air.

Does anyone have any reccomendations of a handyman who does this job in the Cleveland area and for how much?