All Forum Posts by: Nathan Fisher

@Jc M.

Dude, you're going to love Cleveland. Hit me up for restaurant advice, or stuff to do during your downtime.

DON"T TAKE THAT RENT!

Just send them on their way. Getting a problem tenant out the door is always the best financial decision. Especially if you don't have to deal with evictions.

You can always chase them through the courts for back rent after they are gone.

These are a little different then the great answers above

Things that stop me from buying: a house smell, being told the previous owner was a handyman

Things I love: Quirky details that set the place apart. I have one rental, with some outlandish linoleum flooring. Some tenants don't care for it, but those who love it, absolutely have to have the place! Find character when you can. 

Been following the HEROES Act and it's proposal to ban non payment eviction for 12 months. While the  rental market is 173 billion, the bill only offers 100 billion in state administered aid, much of which will be lost in Admin and the rest will take time to disburse.

I'm curious what your plans are. Any thoughts? 

Check with a lawyer, but it's okay to walk away. If they are already breaking their lease terms, they are going to do other things.

Missing one month's rent and finding a new person is way better than the hassle this tenant is going to be. 

As a Cleveland investor, we're seeing the same appreciation. You'll find that Ohio take home rule very seriously, so that means tax rates vary a lot. You'll get tiny villages completely surrounded by cities with crazy taxes.

Don't sleep on Cleveland, our housing stock is old but gorgeous, lots of renters, and the prices and cap rates are very competitive.

Maybe this is a different route, but I read Evicted by Matt Desmond.

While It changed my investment strategy, it also improved my understanding of the challenges tenant's go through.

Because of reading this, I've had better relationships with tenants, which helped a lot during the early covid days.

As both a property manager and an investor myself,  I recommend keeping an eye on  the other fees.

10% isn't much, but if you add tenant finding fees, maintenance fees, and make ready costs, It can add up quick. 

I'm doing research on innovative property management compensation structures, if anyone has any thoughts.