All Forum Posts by: Nick Weisend

My business is currently based in Cleveland OH. I’ve been renting units in a B neighborhood with very solid rents for the area $500-$600 cash flow a door.

With that being said, there are a ton of homes popping up just outside my area in what I would consider a C neighborhood, nothing horrible just normal lower-middle class families. I was in shock when I saw how much these zip codes were paying for section 8 tenants.

I wanted opinions, pros and cons, etc from people who have taken this route. I’ve read the horror stories but also the success stories.

Thanks so much for your input!

@Marshall Leipprandt

I like your thought process and appreciate your response. Another thing I forgot to mention is since I lived in the house the full two years I could sell it and avoid capital gains tax where if I hold long term for 5-10 years more then I’m going to get hit with the 20%… lot to think about, thanks for your input!

Here’s the situation.

Bought my first duplex a little over 2 years ago in a B neighborhood in NE Ohio.

Interest rate is 3% and the payment is 2100$ a month but the house of it were not owner occupied would bring in 3200$-$3600 a month however most of my mortgage is paid for in the other side being rented.

Comps in the area are going for $400kish +- 20k or so based on how up to date they are.

I’m considering selling because I will walk away with a minimum of $100k in profit after only two years. My thought process is sell now and buy back in next year.

Looking for honest feedback. I know it’s near impossible to time the market so I don’t need to hear that just want opinions on what I should do. I’m 28 and this was my first investment property and I’m hoping if I sell the proceeds can help purchase my next two.

The neighboring duplex has a tree in the backyard that is very old. Although it is a beautiful, probably 100ft+ tree, you can tell it is dying based on the color. It had very long and thin branches.

My duplex is very close to Lake Erie and we can substantial wind storms here. The branches of the tree hang over my tenants parking spots and they have complained that smaller branches have fallen and scratched their car, as well as a larger branch falling and taking out a section of fencing.

My biggest fear is the tree coming down completely in a storm, based on the angle it’s leaning now it would probably fall right on my garage.

1) I’ve tried to find a contact for the property and can’t find anything. I’m hoping to address the situation with them directly. Does anyone have suggestions for finding contact info of the neighboring owner?

2) Doni have any legal grounds here to force them to take the tree down or to at least remove the branches hanging over my property?

So I have a duplex and I am currently renovating the other side. The first floor had new LVT put in by the previous owner. The staircase to the second floor and the second floor itself has original hardwood floors that need refinished badly. The third-floor and the staircase have carpet that needs replaced badly. I am looking for opinions on what is the best short term and long term option for refinishing the second and third floors. My first thought is to put LVT down on the other two top floors but some people have told me to have someone come refinish the original hardwoods on the second floor. 

The title pretty much sums this up. Is it worth it to do this, I Watched a video of a guy who said you can put your commission fees towards down payments? Would love to hear your thoughts or from realtors who do this.