All Forum Posts by: Ryan Pyle

@Poorya K., I own about 20 SFR's in 43605. It used to be pretty good, but values crashed hard there in 2008 - 2010. I used to sell houses there for $75k. Now it would be hard to get $25k. Most rentals are worth about $15k. Lots of inventory, very few owner occupant purchases there anymore. Rents are low, about $700 max for a 3/1. As I'm sure you know, a $700 rent is tough to cash flow over the long term because of capex and turnover costs (one trashed house = $10k to rehab = all previous cash flow gone and years to make it back). My advice is to stick to higher value areas. The returns don't look as sexy on paper, but the sexy returns are usually bull$hit anyway because no one ever factors in capex or turnover costs.

Run like the wind! Focus pays the rent for a period of time, usually 3 - 12 months, then the tenant is on their own. For a period of time I took several (probably around 20) focus tenants in. It was fine at first, but out of 20 maybe two paid once it was on them. The rest were all evictions and the units were usually left in terrible condition. Also, most of these tenants come from homeless shelters. In Toledo that usually has a strong correlation with bed bugs. Also, lots of "guests". Don't do it.

Congrats, Fidler!

They get on these kicks every few years. The last one was when Carry was mayor. City inspectors are just doing their jobs, so as you said as long as you treat them with respect you will get respect in return.

Keith, every multi family property I've purchased has been unlisted. If a commercial property gets listed in my area that usually means it's not a good enough deal for the experienced investors. 

I would suggest driving for dollars. Find properties you are interested in. If they have a for rent sign, call them and ask if they are interested in selling. Otherwise look in public records and track down the owner. Call and offer to take them to lunch. Ask if they are interested in selling or if they know of anyone who might be. The more you put it out there that you are looking to buy, the more chances you create.

Good luck!

I will look forward to your reports. I've had a couple small kitchen fires, but not a total loss. Hopefully it is smooth and painless for you and your tenant.

Andrew, I just looked at the Facebook page.  It looks like  there are membership fees. Do I have to pay to be a part of this?

I track this on a monthly basis, and have been doing so since I started in 2004. Over time, including capex items, I am always around 50%. But I've had years at 40% and at 60%.   

Sorry, I like Engelo but can't stand fake plugs. It should be noted that Rebecca works for Engelo. Sorry Rebecca and Engelo, but that tactic always rubs me the wrong way.

@Adam A., Is it true that if the house is rented Section 8 that it will be not be subject to inspection?