All Forum Posts by: Account Closed

Been seeing this error a lot. I'm using the BP app. An error occurred try watching this video on YouTube. Com blah blah I took a screenshot but don't see how to attach it with the app so there you go. M

http://www.nbcnews.com/news/us-news/three-killed-c...

Triple Homicide in Hilltop neighborhood of Columbus, Ohio.  Sometimes a neighborhood with "bargains" isn't a good idea.

http://www.wrqk.com/onair/captain-tony-53761/watch...

@James Wise your home turf is trending on Facebook.  :)

http://www.cleveland19.com/story/30221418/some-say...

Some recent news on the town where I currently live just NW of Columbus, Ohio.  Link is at the bottom of my post.  Wondering how this will change the local market (hopefully all for the better.)

Honda and Scotts both have HUGE presence here.  Honda has expanded over the last 20 years and is about to increase their local investment.

The housing market in Marysville is already super tight (low inventory, stuff sells in a day or two if it's priced appropriately).  And the rental market for homes is tighter.  It's really easy to rent, but the price to buy is going up pretty fast and out pacing the rent rates, making rental-worthy homes less and less of a good deal.  There are houses where you can get a better price, but they tend to need lots of work and not be in the areas of town where all the growth is happening.

The neighborhood I've been looking in where I could get a home in the 130s-140's a year or so ago are now in the 150s-160s.  It kind of stinks because the rising tide here has made it so even the "fixer" homes people have really high expectations for what they will get.  Bargains are a little tough to come by.  I have a few leads but they have all fallen through so far.  Still trying to hit the first deal.

http://www.bizjournals.com/columbus/news/2015/09/2...

Originally posted by @Mike Alder:

Hey @Account Closed

Great story with a better ending! Congrats on the profitable deal! I always joke that the infomercials never told be I'd be a high paid babysitter when I decided to become an investor! Thanks for sharing!

 Yeah, he really just left it with some damage maybe a couple hundred bucks worth, and really dirty.  I doubt they ever swept the floor or mopped once in the 2+ years they were there.  Ultimately I didn't turn the screws on him too hard on the deposit since he did give me back possession so quickly.  This was probably a C- neighborhood.

I had a tenant who was not the best, usually late, but did eventually pay with late fees every month.  He always was out of money.  Eventually after a couple years he started getting really late and then one month could only come up with half.  He asked if he could pay the 2nd half on the 15th.

Right about this time we were moving a little further from our rental unit due to starting a family and had been thinking of selling this unit so we didn't have to drive 45 minutes each way.

I spoke to him and asked him how things were going and he just was having trouble with money (shocking, right?)  I suggested to him that we were thinking about selling the house once he was done renting it, and since it was prime real estate season (spring), if he wanted to move out now, as he was having money trouble, we would release him from his lease and refund him whatever amount of his security deposit money he was entitled to.  He thought about it and called me back later that night to say they would move out that week.

He got (some) of his deposit back, we fixed up the house and sold it for more than we paid.  Ultimately, it could have gone a lot worse.  The guy was not a bad guy, definitely not a malicious tenant, but really not responsible and needing a lot of hand holding.

Awesome (sorry, tho) story!

A-B

I've done C, would consider C with someone else managing it and a track record of it paying out.  Won't ever mess with crappy areas again, though.

Cool.  That was my intuition, but I figured there may be a variety of other reasons people have.

One of the areas I'm looking at is my local area because, well, it's local, and it's A/B and people really want to rent here.  Unfortunately it's hard to get a house right now.  People are bidding up everything over ask price on day 1.  Things tend to slow down in Ohio when the weather turns cold, so I'm hoping to be able to pick something up then.  Also looking at some areas in Cleveland I am going to visit next time I make a trip up there.