All Forum Posts by: Jennifer McCurrach

One PM takes 8%, one 6%. One marks up larger jobs, but won't say how much. I feel like marking up repairs is paying twice. I already pay a management fee, then they mark up work? Is this normal? One has tons of fees, such as a $30 technology fee per unit, per year. That's $930 a year on top of management fees. Can anyone recommend a PM, specifically that work on the west side of Cincy? Or is someone willing to give me advice? Someone with 30+ units that have worked with PMs? Please and thank you!

My husband and I live in a house (almost 4 years) on a 30 year mortgage. We have 2 four family buildings (purchased in '10 and '14), and we just entered a contract to buy a third 4 plex. We did 20% down on our primary residence, and 25% on all 3 rental buildings. This last purchase will eat up most of our cash reserves for the down payment. Just yesterday, I got an inside call about a building near one of ours that is going to sell, and I just cannot pass it up. It is also a 4 family. Now, for my question: How do I get the money for the down payment and have the reserves required for owning 4 properties? Can I do a HELOC on my primary? Do I dip into retirement? I've read conflicting info about the ability to borrow against IRA or 401k. Please help!

NIce!

Ben, I contacted Ham Co this afternoon. I was thinking of having Bailiff deliver to his work as the original certified mail came back "undeliverable as addressed". I then thought of a trick I learned a while back. I logged onto the Ham Co comprehensive name search to see if he's had any recent tickets. BINGO!! He is being sued by a credit card co/bank and I have his new address. The bank has already sent certified mail and it came back unclaimed. So now I will also send it there and if it comes back unclaimed I will send via regular mail through the court per the pamphlet you quoted above. Yay! I always get my money!

I have been successful collecting the one other time in 4 years that this has happened. I had the ex-tenant's wages garnished. I usually avoid this mess by renting to quality tenants. I know where he works. I wonder if it should just be sent via regular mail and not certified, therefore no signature required? I need to find out if the court will do this. The property is in Hamilton Co in Cincinnati OH. It shouldn't be this hard to sue someone in small claims court. I am trying to avoid hiring an atty, as it seems as though my award $ would be eaten up by their fees.

Tenant moved out on the 6th with an email stating he was moving out THAT DAY. Stiffed us on that month's rent and late fee. Left the fridge full of toxic mold. Bathroom and kitchen dirty, and a large "repaired" hole in the living room wall. Initially he agreed to pay us the $1,000 he owed us (repairs - security deposit). Then he kept coming up with excuses about why he shouldn't pay. Long story short, I had the court sent small claims lawsuit paperwork to his address, which is actually his parents' house. Needless to say, they did not sign for the letter and the court case was cancelled as the mail went  back to the courts. He does not live at home and I am unable to find new address. What do I do now? Do I sent the next set of paperwork to his job? I know where he works, but I'm worried they won't sign for the paperwork either. What do I do?

Not having money to buy more properties!